First shuttle talks between the US and Iran in months bring hope for progress
The first shuttle talks between the United States of America and Iran in months raised hopes that the two adversaries might make progress toward ending the Middle East war. However, neither side made any changes to their positions. Abbas Araqchi…
Energy secretary: US energy company to announce Venezuelan investment
U.S. energy secretary Chris Wright said that a U.S. oil producer would?announce a'major investment 'into Venezuela on Wednesday. Foreign oil producers are moving joint ventures and sharing production contracts to Venezuela as part a sweeping energy reform. Meanwhile, new entrants – mostly U.S.
Can2 Termik unit to develop $400 million oil project in Venezuela
Florida-headquartered Denarius Holding Group, whose ?main shareholder is Turkey's energy ?firm Can2 Termik, has reached a ?20-year agreement to operate ?the Cema ?oilfield ?in Venezuela under a $400 million project, the company said in a release on Wednesday.
How China's oil giants helped Beijing prepare an energy crisis
China's oil companies are at the forefront of Beijing prioritising energy security in the last decade. They have made investments that have helped to soften the impact of the closing of the Strait o'Hormuz. Sinopec PetroChina and CNOOC Ltd.
Russell: The oil industry in Asia wants Trump to abandon the Gulf but doesn't expect him to do so.
The crude oil industry in Asia has an idea on how to resolve the crisis caused by the conflict with Iran. They also know that their wish will not be granted, and are bracing themselves for a prolonged disruption of supplies from the Middle East.
Russell: The oil industry in Asia wants Trump to abandon the Gulf but doesn't expect him to do so.
Asia's crude-oil industry knows how to solve the crisis caused by the Iran conflict. But they know that their wish will not be granted, and are bracing themselves for a prolonged disruption of?supplies? from the Middle East. The APPEC Conference…
Clearwater Oil to be created by merger of Tamarack Valley and Headwater for $7.2 billion
The companies announced on Tuesday that Canadian oil producers Tamarack Valley?and?Headwater Exploration would merge in a deal valued at C$10 Billion ($7.25 Billion) in all-stock deals. The deal would create the largest publicly traded oil producer in Alberta…
Citadel, a hedge fund giant, is reportedly looking to purchase US assets for shale production.
Citadel has been in talks with a?U.S. Five people with knowledge of the matter have confirmed that Citadel is considering expanding its?business into?physical assets. Four sources claim that Ken Griffin's firm was one of the bidders on WildFire Energy.
Sources say that Chevron, KEO, ENI, and Primavera will sign energy agreements in Venezuela very soon.
Two sources close to the preparations say that oil?producers Chevron & ENI, as well as investors KEO Capital and Primavera will sign energy 'agreements' in Venezuela by Wednesday. The majority of these pacts are project expansions which have…
SLB and Formentera executives claim that they are working on activating drilling rigs for Venezuela.
SLB, a private equity firm and oil?service provider, is working with?Formentera?Partners to either reactivate or import more oil rigs into Venezuela in the next few months. Blake London, managing partner of energy-focused Formentera, said that…
Governor says drone attacks cause fires at the Russian energy export port Ust-Luga
On Friday, firefighter battled a blaze at Russia's Baltic Sea port Ust-Luga - a major hub for energy exports - after a fire was sparked by an arial attack, according to regional governor Aleksander Drozdenko on the messaging app Telegram. He…
Officials say that Iraq has increased the crude oil production from its southern oilfields to 2.1 million barrels per day.
Two Iraqi oil officials said on Tuesday that the country has increased its output from the'southern oilfields' to around 2.1 million barrels per day. This is because more tankers are lining up at the Gulf export terminals of the country. Officials…
Saipem's 2026 forecast is a sign of a Middle East blow for energy contractors
Saipem lowered its core earnings forecast for '2026 on Tuesday. This sent shares of the Italian oilfield service group?down by more than 8%, as disruptions linked to the Gulf Conflict drove costs up and created logistical difficulties. The Milan…
It will take several months for the Middle East to recover its oil and gas production
LONDON, 15 JUNE - An agreement framework between the U.S.A. and Iran to end the war and reopen Strait of Hormuz has sent oil prices plummeting as traders anticipated the return of flow. Industry officials claim that a return to the pre-war levels…
As the end of the oil era looms closer, a presidential adviser said that UAE has left OPEC and is pumping more.
A senior advisor to the president stated that the UAE's decision to leave OPEC took three years to make and is based on the belief that the world has entered the "autumnal age of hydrocarbons", which means the country must maximize oil revenues as soon as possible.
Malaysia's SD Guthrie sees El Nino impacting 2027-28 palm oil output
Malaysia's SD Guthrie, one of the largest palm oil producers in the world, stated on Tuesday that they expect production to be affected by El Nino, which is expected to bring hotter and drier weather. El Nino is not expected to affect production in 2026…
Palm oil prices slip on profit-taking and Dalian weakness
Malaysian palm oil futures declined on Wednesday, after two consecutive sessions of gains. Prices were impacted by weaker Dalian vegetable oils and profit-taking as a relatively tighter'spread' against soyoil was a factor. By midday, the benchmark…
Profit taking as Dalian oil and palm oil fall in value.
Malaysian palm oils futures declined on Wednesday, after two consecutive sessions of gains. This was due to a weaker Dalian vegetable oil and profit-taking. The benchmark palm oil contract for October delivery at the Bursa Derivatives Exchange fell 51 ringgit or 1.07% to 4,697 Ringgit ($1,150.38).
Sechin, the Russian Minister of Foreign Affairs, says that the United States benefits from the closing of the Strait of Hormuz
Igor Sechin, Rosneft's Chief Executive Officer, said that the U.S. Energy companies are the biggest beneficiaries of?the?closure of?the Strait of Hormuz. Washington is trying to alter the fundamental contours of global energy markets in order to suit its interests.
The war-fueled oil rally is expected to boost shale profit to the highest level since 2022
?U.S. After the 'Iran war' sent crude prices soaring, analysts expect shale producers to report their highest quarterly?profits in 2022. ConocoPhillips is expected to report sharply higher earnings in the second quarter after oil prices rose for most of the period…