Barclays predicts Brent crude oil will reach $100 per barrel following the US and Israel's strike on Iran
Barclays increased its Brent crude oil futures forecast to around $100 per barrel, up from $80.00 on Friday, following the bombing of several Iranian sites by Israel and the United States.
Angola’s national oil company is looking to diversify its business into minerals that are critical.
Sonangol, the state-owned Angolan oil company, said Wednesday it wants to diversify its business into minerals that are critical for economic growth. Sonangol's executives…
Shell Nigeria announces progress on $20 billion Bonga South West Oilfield
Bola Tinubu, Nigeria's President, has approved "investment linked" incentives for Shell’s Bonga South West Deepwater Oilfield. This follows a meeting between the CEO…
Shell offshore Bonga South West Project: Nigeria approves new incentives
Tinubu’s office reported that the Nigerian president Bola Tinubu approved investment-linked incentives to Shell’s Bonga South West Deepwater Oil Project following a meeting with its chief executive.
Sources say that US fuel exports by land to Mexico have been halted due to increased scrutiny.
Three sources with knowledge of the matter confirmed on Tuesday that the Mexican government had halted the importation of U.S. gasoline into Mexico by road as part its crackdown on illegal deals.
Petrobras of Brazil presents a five-year business plan worth $111 billion, with $10 billion in additional dividends
According to a Securities filing, the Brazilian state-run company Petrobras announced Monday that it had proposed a $111 billion plan to its board for 2025-2029. The…
WSJ reports that Russia is exploring a plan to merge Rosneft, a Gazprom subsidiary, and Lukoil.
The Wall Street Journal reported that Russia is working on plans to merge Rosneft oil, a state-backed company, with Gazprom, creating the second-largest crude oil producer in the world.
Coronavirus, Consolidation Taking Toll On Energy Jobs
Oil and gas companies worldwide are taking an axe to their employment rolls, shedding workers to survive what is expected to be a prolonged stretch of weak demand.Exxon…
Pipeline Fire Kills Three in Lagos
A fire on a pipeline owned by Nigeria's state oil company in the commercial capital Lagos killed three people on Sunday, a Reuters witness said.The blaze broke out in…
Saudi Aramco: 2 mln bpd of Spare Capacity Exists
Oil giant Saudi Aramco has spare capacity of 2 million barrels per day (bpd) and can meet additional oil demand in case of any interruption in supplies, the company head said on Monday…
Iran Inches Closer to Gasoline Independence
Iran launches Persian Gulf Star refinery; gasoline imports dropped sharply in recent weeks. Iran has sharply reduced its gasoline imports in recent weeks after starting up a new refinery…
Oil, Briefly Up On Lower Rig Counts, Falls on U.S. Output Outlook
Oil prices fell on Monday on expectations that U.S. output will rise this year, erasing earlier gains buoyed by lower weekly U.S. rig counts and falling U.S. unemployment.
Ecopetrol Rubiales Oil Output Hit by Protests
Colombian state oil company Ecopetrol said on Tuesday it has suspended production at some wells in the nation's largest oil field after demonstrators seized the facility…
Rosneft to Participate in Bashneft Privatization
Russia's largest crude oil producer Rosneft will take part in the sale of the state's controlling stake in mid-size oil company Bashneft , Rosneft said on Friday. "Yes…
Iran: Oil Sales to Rosneft Mulled
Iran has been discussing possible oil sales to top Russian crude oil producer Rosneft, Kremlin-controlled RIA news agency cited Ali Akbar Velayati, top adviser to Iran's…
Mexico to Award Renewable Energy Contracts in March
Mexico will start soliciting bids later this month in its first auction of renewable energy certificates, part of an electricity sector overhaul that ends the state-owned power company's monopoly…
Rosneft Cuts Semi-annual Urals Sell Tender Offer in Oct-March
Russia's top crude oil producer Rosneft has cut offer at its semi-annual tender to sell Urals cargoes between October and March, industry sources told Reuters on Friday.
Nigeria Aims to Supply 20% of Gasoline Demand Itself
Major crude oil producer Nigeria aims to overcome its chaotic and crumbling refining sector to produce at least a fraction of the gasoline it needs to use itself. Its…
China to Allow Non-State Bids for Xinjiang Oil Blocks
China will allow private domestic enterprises to bid for a handful of oil and gas blocks in the far-western region of Xinjiang, the Ministry of Land and Resources said on Tuesday…
Rosneft-owned Saratov Oil Refinery Hit by Fire
A diesel tank at Saratov oil refinery, controlled by Russia's top crude oil producer Rosneft , caught fire on Tuesday, a local emergencies ministry official told Reuters.