Repsol has secured a licence from the US Treasury Department to continue and expand its oil and gas operations in Venezuela, Reuters reported, citing sources.
Oil prices fell in early Asian trade on Tuesday, with investors anticipating higher-for-longer U.S. inflation and interest rates will depress consumer and industrial demand.
Foreign oil companies in Venezuela are concerned they won’t get licenses from the US in time to allow them to operate after May 31.
Oil climbed after government data showed a decline in US stockpiles, signaling a tighter physical market.
Indian oil refiner Reliance Industries has resubmitted a request to the U.S. for an authorization to import crude oil from sanctioned Venezuela, three people close to the matter said, and resume oil trade between the OPEC producer and the once second-largest destination for its oil.
The US Federal government is pushing the development of floating offshore wind even as fixed turbine developments slow.
The size of the U.S. oil and gas deals has hit a record $51 billion during the first quarter of 2024, data provider Enverus said.
The US Bureau of Ocean Energy Management (BOEM) and the Bureau of Safety and Environmental Enforcement (BSEE) have finalized updated regulations for renewable energy development on the US Outer Continental Shelf (OCS).
U.S. energy firms this week added oil and natural gas rigs for the first time in five weeks, energy services firm Baker Hughes said in its closely followed report on Friday.
The oil and gas rig count, an early indicator of future output, rose by 2 to 619 in the week to April 19.
ven after a record $200 billion dealmaking frenzy last year, US oil and gas producers haven’t consolidated nearly enough. On a-per-barrel basis, there are still too many companies, too many chief executives, and too many drilling rigs wooing a limited pool of available capital.