As the US-Iran war spreads, more tankers are attacked.
As the U.S. - Iran war escalated on Thursday, Iranian drones invaded Azerbaijan and threatened to spread the crisis?to other oil producers in this region. Initial assessments indicate that a?Bahamas flagged crude oil tanker anchored near Iraq’s…
OPEC+ could consider a larger increase in oil production, according to sources after the Iran strike
Two sources said that OPEC+ could consider a bigger than planned 'output increase' on Sunday. Leading producers Saudi Arabia and?UAE had already boosted exports to prepare for a possible oil disruption due to the U.S. - Israel attack on Iran.
Trump's tariff reversal may reduce costs for US energy companies, but it will likely not affect broader flows.
Although the U.S. Supreme Court’s decision to overturn trade tariffs that President Donald Trump imposed last year could ease costs for certain?oil drillers and producers, analysts and experts said that energy flows in general would?remain unchanged for now.
Tullow Oil strikes multiple deals in sweeping capital overhaul
Tullow Oil announced on Friday a capital overhaul and a number of deals to increase its presence in West Africa. The heavily-indebted company is aiming to stabilize its operations and ensure longer-term growth. It said that the company had signed a refinancing agreement with Glencore…
Cenovus, a Canadian company, beats its fourth-quarter profit expectations and begins redevelopment at the former MEG site
Cenovus Energy announced on Thursday that it has begun drilling new oil wells at its Christina Lake Oil Sands site in 'northern Alberta,' formerly owned MEG Energy. The plan will increase the company’s production this year as well as by 2027.
Venezuela tensions are set to ease, resulting in a rise in the oil production potential of Guyana
Experts in geopolitics and oil said that the tiny oil-producing country of Guyana, which is already one of the fastest-growing economies in the world, has a window for expansion due to the ongoing U.S. activities in Venezuela. The growth potential…
Sources say that the US will soon issue a general license for oil extraction in Venezuela
Three sources said that the U.S. is preparing to issue a general license allowing oil and gas companies to operate in Venezuela as soon as 'this week'. Washington aims to encourage increased production in the OPEC country since capturing the president.
Baker Hughes sees a significant revenue opportunity for Venezuela
Baker Hughes, an oilfield services company, said on Monday that there are significant revenue opportunities in Venezuela. The main considerations when operating there were safety, conditions for employees and clarity of legal and regulatory frameworks.
Select Eagle Ford assets are being sought by RPT-Exxon XTO.
Exxon Mobil subsidiary XTO Energy, which is part of the oil major Exxon Mobil, is looking for buyers to purchase?some assets? in the Eagle Ford shale in South Texas. In recent days, ?top ?U.S. Two sources said earlier that Exxon, the oil giant…
Exxon's XTO division seeks buyers for Eagle Ford assets
Exxon Mobil subsidiary XTO Energy, which is part of the oil major Exxon Mobil, has confirmed in a'statement' that it is looking for buyers for its assets located in South Texas’ Eagle Ford shale.basin. Two sources said that Exxon, the top U.S.
UAE utility withdraws Yemen and transfers solar energy plants to the government
Global South Utilities, based in Abu Dhabi, has handed over two solar power plants to Yemen's Public Electricity Corporation. This was after the?Yemeni government requested that all?Emirati firms leave the country. GSU informed Public Electricity…
EIA: US oil drilling will slow down as prices fall, Venezuela's growth could increase pressure
Lower oil prices will likely reduce?U.S. The Energy Information Administration reported on Tuesday that drilling activity will reduce production by 1% in the top producing country this year, and a possible increase of supply from Venezuela may 'add pressure.
Canadian oil tycoon suggests US aid in Venezuela's oil revolution
The Canadian oil tycoon, who is the head of one of North America's fastest growing oil companies, wants his country to "lend" its heavy oil expertise to America as it tries to rebuild Venezuela's petroleum industry. Adam Waterous is the executive chairman of Strathcona Resource.
Canadian oil tycoon suggests US aid in Venezuela's oil revolution
The Canadian tycoon, who is the executive chair of one of North America’s fastest-growing oil companies, wants his country to lend their heavy oil 'expertise' to the United States in order to help rebuild Venezuela's industry. Adam Waterous…
EIA: US oil drilling will slow down as prices fall, Venezuela's growth could increase pressure
Energy Information Administration reported on Tuesday that lower oil prices will reduce U.S. drilling activity and reduce production by 1% in the United States this year, while a possible increase in Venezuelan output could add to the pressure.
Trump's "drill baby, drill" agenda in Venezuela hurts producers at the home
Trump wants $50 oil but it's below the profit level of U.S. Venezuelan oil redirected to squeeze U.S. Venezuelan oil to benefit U.S. HOUSTON, January 9 - U.S. Oil Producers already struggling with low oil prices face renewed pressure as President…
White House oil meeting includes independents and has strong ties to Denver
On Friday, the White House will be inviting oil executives to meet with them in order to discuss possible investment in Venezuela. While the list of attendees includes some big names from American oil, such as Exxon Mobil, ConocoPhillips, and Chevron…
Trump has announced that he will be meeting with Venezuelan Machado in the next few days
Donald Trump, the U.S. president, announced on Thursday that Venezuelan leader Maria Corina Machado would be visiting Washington next week. In an interview with Fox News' "Hannity", Trump was asked whether he planned to?meet? Machado after the U.S.
Oil Prices Rise 2% Amidst Venezuela Conflict, Supply Concerns
Oil prices rose about 2% on Thursday after two days of declines as investors assessed developments in Venezuela and on worries about supplies from Russia, Iraq and Iran.Brent futures rose $1.21, or 2%, to $61.17 per barrel at 11:17 a.m. EST (1617 GMT), while U.S.
ROI-Trump's Venezuela oil grab revives 'petrodollar' debate: McGeever
The arrest and capture of Venezuelan president Nicolas Maduro by the United States on Saturday was likely motivated by many factors, but one that has been little discussed is the White House's concern about the declining global prominence of "petrodollar".