Oil Prices Surge 3% on Worries of US Action Against Iran
Oil prices climbed about 3% to a five-month high on Thursday on rising concerns that global supplies could be disrupted if the U.S. decides to attack Iran, one of the biggest crude producers in OPEC.Brent futures rose $2.10…
Kuwait Readies $7b Pipeline Deal as Gulf Turns to Foreign Investors
Gulf governments are stepping up infrastructure deals with foreign investors, with Kuwait set to launch an oil pipeline network stake sale as soon as February in a deal that could raise up to $7 billion…
Chevron to Boost Exports of Venezuelan Oil to US in March
Oil producer Chevron is set to boost exports of Venezuelan crude to the U.S. to some 300,000 barrels per day (bpd) in March, from 100,000 bpd in December and some 230,000 bpd so far this month…
Indian Diesel Exports to West Africa Jump as EU Bans Russian Derived Fuel
India stopped exporting diesel to the European Union this month due to the European Union's ban on fuel derived from Russian crude and instead sent a record amount to West Africa, shipping data from Kpler and Vortexa showed…
Trinidad's Atlantic LNG Project to Decommission Liquefaction Train
Trinidad and Tobago's flagship liquefied natural gas project, Atlantic LNG, will begin removing one of its liquefaction trains from operations in the last quarter this year, its director for capital projects…
Russian Urals Oil Trades at Close to Widest Discounts Since 2022
Russian February Urals crude oil cargoes traded at close to the widest discounts against dated Brent in Indian ports since 2022 amid intensified pressure from Western sanctions, two sources…
Oil Prices Drop 2% as Trump Tones Down Threats Against Greenland, Iran
Oil prices slid about 2% on Thursday after U.S. President Donald Trump softened threats against Greenland and Iran, and as investors assessed the supply-demand outlook.Brent futures fell $1.01…
Trafigura Makes First Venezuelan Crude Sale Under Supply Deal
Trading house Trafigura has sold its first cargo of Venezuelan crude oil as part of a 50-million-barrel supply deal between Caracas and Washington, industry sources said on Thursday, with…
Venezuelan Oil Exports Progress Slowly Under US Supply Deal
Venezuelan oil exports under a flagship $2 billion supply deal with the U.S. reached about 7.8 million barrels on Wednesday, vessel-tracking data and documents from state-run PDVSA showed…
EDP CEO Warns EU on Lost Urgency for Energy Security
Four years after the start of the Ukraine war, the European Union has lost the sense of urgency needed to strengthen its energy security, with bureaucracy still slowing renewable projects…
Kazakhstan CPC Oil Exports Struggle After Tengiz Field Shutdown
Kazakhstan's CPC oil exports could remain restricted even as extensive maintenance on its primary oil export route wraps up, sources said on Wednesday, with force majeure declared at the country's largest oilfield…
Kazakhstan's Tengiz Oil Field to Remain Shut for Another 7-10 Days
Oil production at Kazakhstan's vast Tengiz oil field, one of the world's largest, could be halted for another 7-10 days after shutting down on Sunday, cutting crude exports via the Caspian Pipeline Consortium…
India, UAE Sign $3b LNG Deal, Boost Trade and Defense Ties
India signed a $3 billion deal on Monday to buy liquefied natural gas from the United Arab Emirates, making it the UAE's top customer, as the leaders of both countries held talks to strengthen…
US considers swapping heavy Venezuelan crude oil for U.S. Medium Crude to fill emergency reserves, sources say
The U.S. Energy Department is exploring the possibility of exchanging heavy Venezuelan crude oil for U.S. Two sources told Reuters on Friday that medium-sour crude oil would be used to replenish the Strategic Petroleum Reserve.
Urals Freight Rates to India Rise Due to Bad Weather, War Risks
Freight rates for tankers to ship Urals crude from Russia’s western ports to India have risen this month, as bad weather made fewer vessels available, disrupted loading and unloading and…
Oil Prices Surge Ahead of Possible Iranian Supply Disruptions
Oil prices surged by about 3% on Tuesday as the prospect of disruptions to Iranian crude exports overshadowed possible increased supply from Venezuela.Brent futures LCOc1 jumped $1.88, or 2.9%, to $65.75 a barrel by 11:07 a.m.
Venezuela Reopens Wells as Exports Resume
Venezuela's state oil company has begun reopening some of the wells it and its joint venture partners had shut amid a strict U.S. embargo, as crude exports resume with two shipments departed on Monday…
Oil Prices Dip as Investors Consider Iran Supply Concerns, Venezuelan Exports
Oil prices fell slightly on Monday after Iran said it had total control following the biggest anti-government demonstrations in years, easing some concerns over supply, while investors…
New York Sues Trump Administration Over Halt on Two Offshore Wind Projects
New York's Attorney General sued the Trump Administration on Friday for suspending the construction of two major offshore wind project that the state says it needs to power a million homes…
TotalEnergies Snags Exploration Nod Offshore Lebanon
French oil company TotalEnergies TTEF.PA has obtained government approval for a new exploration permit offshore Lebanon, it said on Friday.Total, which owns a 35% operating stake in the permit…