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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, three sources close to operations said.The OPEC country's oil exports had remained almost at a standstill since December, with only U.S.
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BP warns of up to $5 billion in impairments due to energy transition and weak oil trading
BP said that it expects to book between $4 and $5 billion of impairments during the fourth quarter. These are mainly related its energy transformation businesses. It also noted a weak oil trading. Under the new leadership, Chair Albert Manifold has said that BP’s portfolio needs to be simplified.
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EnBW cancels two UK offshore wind farms, incurring $1.4 billion in impairment
EnBW, the German utility, announced on Thursday that it would take a 1.2 billion euro ($1.4 billion) impairment charge for scrapping two British wind projects. This was a direct result of losing a UK offshore tender. In this week's record-breaking auction, the?two offshore projects…
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Brazil's January soy exports are below expectations, say traders
Some Brazilian traders claim that soybean exports for January will likely miss the?grain importers' association Anec?s forecast, released on Tuesday. Meanwhile,?Anec has said it is re-evaluating its estimate of?3.8 millions metric tons shipments this month. Anec stated that its estimate…
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The US Electric Grid is stressed by the cold weather
Electric grid operators in the U.S. took extra precautions on Saturday to avoid rotating blackouts, as frigid temperatures hit half of America's population. The PJM Interconnection – the largest?U.S. The PJM Interconnection, which serves 67,000,000 people in the East and Mid-Atlantic region, reported temporary spikes of wholesale spot?electricity?
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Kazakhstan's main export pipeline returns to full capacity after mooring points repaired - CPC
The Caspian Pipeline Consortium, Kazakhstan's main oil export pipeline, returned to full capacity on Sunday at its terminalon…
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Bloomberg News reports that the US is seeking quick fixes to boost Venezuelan oil production.
Bloomberg News, citing senior officials in the administration, reported that the United States is in discussions with Chevron…
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Libya signs 25-year agreement with TotalEnergies and ConocoPhillips that will bring in over $20 billion of investment
Libya's Prime Minister Abdulhamid al-Dbeibah announced that the country will sign on Saturday a 25-year agreement with TotalEnergies…
Latest news
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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…
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Analysts and state regulators say that US crude production will fall due to cold weather.
Energy Aspects reported that state regulators and analysts?said? on Friday that U.S. crude production is expected to'slip'…
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Baker Hughes reports that US drillers have added oil and gas rigs to their fleet for the first time in 3 weeks.
Baker Hughes, an energy services company, said in a closely-followed report published on Friday that U.S. firms added oil…
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Baker Hughes reports that US drillers have added oil and gas rigs to their fleet for the first time in 3 weeks.
Baker Hughes, an energy services company, said in a closely-followed report published on Friday that U.S. firms added oil…
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Baker Hughes reports that US drillers have added oil and gas rigs to their fleet for the first time in 3 weeks.
Baker Hughes, an energy services company, said in a closely-followed report published on Friday that U.S. firms added oil…
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Baker Hughes reports that US drillers have added oil and gas rigs to their fleet for the first time in 3 weeks.
Baker Hughes, an energy services company, said in a closely-followed report published on Friday that U.S. firms added oil…
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Baker Hughes reports that US drillers have added oil and gas rigs to their fleet for the first time in 3 weeks.
Baker Hughes, an energy services company, said in a closely-followed report published on Friday that U.S. firms added oil…
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Michigan suedes oil companies for collusion to restrain competition in EVs
Michigan Attorney General Dana Nessel filed an antitrust suit against four major oil firms on Friday, alleging that they…
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Michigan suedes oil companies for collusion to restrain competition in EVs
Michigan Attorney General Dana Nessel filed an antitrust suit against four major oil firms on Friday, alleging that they…
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Michigan suedes oil companies for collusion to restrain competition in EVs
Michigan Attorney General Dana Nessel filed an antitrust suit against four major oil firms on Friday, alleging that they…
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State TV reports that the US has extended sanctions waivers to Serbian refiner NIS owned by Russians.
RTS TV reported on Friday that the U.S. Treasury Department had extended a waiver of sanctions to Serbia's Russian owned NIS oil company.
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SLB is about to increase its activities in Venezuela
SLB, an oilfield service company, said that it could increase its activities in Venezuela if the necessary licensing, safety parameters…
Exploration
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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.
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India's state-owned BPCL signs $780 million oil contract with Brazil's Petrobras
India's Bharat Oil Corp Ltd. will purchase?12,000,000 oil barrels from Brazil's Petrobas for $780 million in fiscal 2027.
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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…
Drilling
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Viaro Energy's purchase of Shell and Exxon UK gas assets fails
Shell and Exxon Mobil halted the sale of natural-gas assets in Britain's Southern North Sea to a British oil producer, Viaro Energy.
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BP warns of up to $5 billion in impairments due to energy transition and weak oil trading
BP said that it expects to book between $4 and $5 billion of impairments during the fourth quarter. These are mainly related…
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The European stock rally is stalling as traders evaluate the economic impact of Venezuela
After a string of record-breaking?closes?, European stocks were subdued Wednesday as investors took time to digest recent U.S.?developments?
Production
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Norway awards 57 drilling licenses in offshore oil and gas exploration round
Norway's Energy Minister told an industry conference that the country awarded shares in 57 offshore oil exploration licenses…
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After nearly a decade, the Canadian Prime Minister visits China
Mark Carney, Canada's prime minister, will depart for China on February 2nd to discuss trade and security issues. This is…
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US oil lobby group supports repeal of climate rule for vehicles but not power plants
According to its president, the American Petroleum Institute supports EPA's proposal to repeal greenhouse gas regulations for vehicles.