Glencore secures processing contract at Wilhelmshaven Oil Refinery in Germany
Four European trading sources have confirmed that 'global miner and commodities traders Glencore' will supply Germany’s Wilhelmshaven Oil Refinery and sell its?refined? fuels…
UK PM Burnham will use North Sea Oil pragmatically following Trump's comments
British Prime Minister Andy Burnham has said that he will take a "pragmatic approach" to the development and use of oil and gas in the North Sea. This is his response to U.S.
Energy profits boost European earnings by 20.8%
LSEG data on Thursday showed that estimates for blue-chip companies in Europe's second quarter?earnings? have risen. Profit growth is now expected to be 20.8% compared to a year earlier.
Kazakhstan talks with Russia to process Russian crude amid fuel shortages in Russia
The Ministry of Energy announced on Thursday that Kazakhstan and Russia are in talks to process Russian oil at its refineries. Products will be sold domestically, then sent back to Russia.
Emails show that BP will cut 700 jobs to simplify the company.
BP is planning to 'cut 700 employees from its global workforce according to an internal e-mail seen by. The oil major has been focusing on boosting profits and returns. Email…
QatarEnergy sources claim that it has purchased 33 US LNG cargoes in order to compensate for the disruption caused by the Hormuz blockade.
QatarEnergy has purchased 33 spot LNG cargoes from the U.S. this year for delivery to South Korea. Taiwan, Bangladesh. India and Japan. Four trade and industry sources confirmed the purchase.
Eni aims for rapid development of Venezuela's oilfield Junin 5.
Eni, an Italian energy group, is currently negotiating contracts for its oil and gas projects. The CEO of the company said that once investment resumes the Junin 5 Oilfield will be developed quickly.
Germany's Uniper signs 20-year LNG deal with Canada
The German state-controlled energy company Uniper finalised on Wednesday a 20-year deal to purchase liquefied?natural?gas from Canada, as the two countries deepen their partnership.
Sources: Energean and Carlyle are among the bidders for BP's gas assets offshore Egypt
Three sources familiar with the process say that Dragon Oil, Carlyle Group, 'Energean' and Artemis Energy will be among a group of groups bidding this week on BP’s?West Nile Delta natural gas development off Egypt.
Bunge's strong processing margins helped it beat second-quarter earnings estimates
Bunge raised its full-year profit forecast on Wednesday, after exceeding Wall Street expectations?for the second-quarter earnings. This was aided?by strong performance s in…
SABIC reports narrower quarter loss and revenue drops 18% due to disruptions in supply chains caused by the Iran War
Saudi chemicals giant SABIC reported on Wednesday a'sharply smaller second-quarter net loss, due mainly to the 'absence of large one-off expenses from last year. Revenue fell…
Venezuela's rusted and ugly refineries will be difficult to restore
The Paraguana refinery in?Western Venezuela was once a symbol of the oil wealth of Venezuela and its ambition to convert vast reserves of crude oil into fuels and export revenues.
Glencore's copper production up 15% and sees $3.3 billion in marketing EBIT
Glencore announced 'on Wednesday that its first-half production of copper rose by a whopping 15% due to higher grades in key operations. Its'marketing unit, on the other hand…
New Zealand awards first offshore petroleum exploration permit after reversing ban
New Zealand's coalition centre-right government granted its first permit for petroleum exploration on Wednesday, reversing the ban imposed on offshore exploration by the former Labour government of Jacinda Ardern.
Expand Energy, a Natgas producer, beats expectations for the second quarter profit
Expand Energy, the U.S. natural gas producer, beat Wall Street's?estimates of a?second quarter profit? on Tuesday. U.S. producers benefit from the surge in electricity demand…
Baker Hughes reports that US energy companies have cut back on drilling for the first time in six-weeks.
Baker Hughes, a closely-followed energy'services' firm, said in a report on Friday that U.S. firms have cut back the number of operating rigs for the first six weeks. Total oil and gas rig counts…
Bloomberg News reports that Devon Energy is considering a $4 billion sale for its Eagle Ford and Powder River assets.
Bloomberg News, citing sources familiar with the situation, reported that U.S. oil producer Devon Energy is considering a possible sale of its Eagle Ford and Powder River shale assets…
Investors focus on tech earnings as S&P and Nasdaq drop
Wall Street fell on Monday as investors feared that "stubbornly" high oil prices would force the Federal Reserve into raising interest rates. They also awaited guidance for…
Wall Street closes mixed as investors pay attention to tech earnings
Wall Street closed Monday with a?mixed bag, as investors awaited guidance for major technology companies during a busy quarter of quarterly earnings, and also worried that persistently…
Baker Hughes predicts lower oil and gas spending in 2026
Baker Hughes announced on Monday that it expects global oil and gas spending to be down modestly in 2018. The company said this is due to a decline in spending in Europe, the Middle East, and offshore Africa.
