Sources say that OPEC+ is likely to raise its oil production targets again in September.
MOSCOW/LONDON - OPEC+ countries will likely agree to a new increase in 'output aims' for September at their meeting on August 2. This is despite the fact that the Iran War has again prevented some members from pumping even more oil. In recent months the group has raised its targets, hoping to regain market share once the war ends.
Teck Resources beats profit estimates on strong copper production, prices
Teck Resources, a copper producer and producer of higher-quality products, beat Wall Street's expectations for the second quarter profit on Thursday. In afternoon trading, shares of the company rose by 4%. The benchmark three-month price of copper rose 41.5% from the previous quarter, mainly due to concerns about tight supplies and high demand in China.
In July, Russia's oil revenues increased by 60% year-on-year
Calculations showed that the rise in oil prices globally has led to a '60% increase in the state revenue of Russia in July compared to the same period a year earlier. The overall revenue increase of?year-on-year was also attributed to a steep rise in?profit-based tax proceeds from oil production during the second quarter.
Freeport-McMoRan exceeds its quarterly profit expectations on the back of higher copper prices
Freeport-McMoRan surpassed Wall Street expectations?for the second-quarter profit?on Thursday as higher copper prices 'offset lower production?at Grasberg Mine in?Indonesia. In premarket trading, shares of the company rose 1.4%. The average copper price rose 41.5% on an annual basis in the second quarter.
Matador buys Paloma permian for $1.2 billion to boost Delaware Basin presence
Matador Resources announced?on Thursday that it will buy the privately-held?Paloma Permian?from EnCap Investments?for about $1.28billion,?adding a high-quality drilling asset in?the oil rich?Delaware Basin. U.S. shale producers prioritize acquisitions of premium drilling inventory, over rapid production growth.
Teck Resources exceeds profit forecasts on higher copper production and prices
Teck Resources, aided by higher copper prices and increased production, beat Wall Street expectations for the second-quarter profit on Thursday. In?premarket trade, shares of the 'company' rose by nearly 6%. Benchmark - Three-Month Copper Prices climbed 41.5% from a quarter earlier due to concerns about tight supplies in China and high demand.
Santos reports higher revenue in the second quarter on sales and commodity prices that are on the rise
Santos, the oil and?gas company, reported a rise of?second quarter sales revenue 'on Thursday. This was due to a?increase in sales volumes for its liquefied gas project in Papua New Guinea as well as higher realized crude and condensate price. Crude oil prices were high due to the U.S. - Iran conflict, and only began to drop in June.
St. Bernard Parish in Louisiana is hit by Tropical Storm Bertha
The U.S. National Hurricane Center reported on Wednesday that Tropical storm Bertha had made landfall in St. Bernard Parish in Louisiana. Miami-based forecaster said that the storm was located approximately 45 miles (70 kilometers) southwest of Biloxi in Mississippi, and 40 miles east of New Orleans. Maximum sustained winds have decreased to 45 mph.
Egypt approves oil, gas and Perenco North Sinai Project deals
Egypt's Parliament approved four oil and gas exploration agreements and development agreements on Wednesday. This included a project in North Sinai involving the?FrancoBritish producer?Perenco. Egypt is looking to boost domestic energy production, which has been struggling to keep up with the growing demand.
Union urges investors and BP to put pressure on BP to end US Midwest refinery locksout
The union representing 800 workers at BP Whiting, Indiana refinery urged investors to put pressure on the British 'oil major, BP, to end a four-month lockout. They argued that the dispute highlights broader governance and safety risks within the company. United Steelworkers cited BP's executive rotation and past safety incidents as concerns. "... "...
Congo continues to push for local ownership rules for miners, despite industry concerns
The Democratic Republic of Congo will begin enforcing the long-delayed requirement that mining companies offer local ownership stakes on July 31. This is despite concerns raised by some of the largest copper and cobalt producers in the world about the impact of this law. The Congolese miners…
Equinor profits soar on high oil and gas prices during wartime
As expected, Equinor reported on Wednesday a steep rise in profits for the second quarter, boosted by the surge in gas and oil prices, as the Middle East war disrupted the global energy supply. Equinor's poll of 17 analysts predicted that the Norwegian group would earn $11.48 billion in the period from April to June…
EQT misses quarterly profit estimates on weak gas prices, raises production forecast
The 'energy company EQT, based in the United States, missed Wall Street expectations for a?second quarter profit on Tuesday due to lower natural gas prices. The Middle East conflict sent international benchmark prices soaring, but the U.S. Henry Hub prices were well below historical and previous averages due to record domestic production…
Kazakhstan's dispute with oil majors
Two sources told AFP that Kazakhstan had warned the head an oil consortium, which includes Exxon and Shell, about possible criminal charges if they did not pay a $5 billion fine for environmental damage. This is just the latest in a series of disputes that have seen international firms cede…
After years of stagnation, New Zealand's interest in gas exploration is picking up.
Seven oil and gas companies are racing to secure offshore rights to explore in New Zealand before a national vote that could lead to the ban of new permits. The country's main parties are fighting over the need for gas. New Zealand attracted interest after its conservative government lifted a ban last year on new offshore drilling imposed by 2018.
Chevron closes US Gulf platform to prepare for tropical storm
Chevron has shut down production at its Petronius facility in the Gulf of Mexico and is moving all personnel onshore to prepare for Tropical Depression Two. The company announced this in a Monday statement. The U.S. major oil company also announced that it was transporting non-essential personnel from its Blind Faith and Tubular Bells platforms.
WildFire Energy to be acquired by Magnolia Oil & Gas in a $4.06 billion deal
Magnolia Oil & Gas announced on Monday that it had 'agreed' to purchase WildFire Energy, including all debts, for approximately $4.06 billion. This was done in order to expand its stance?in the Giddings Field, a southwestern Texas oil field. The deal covers approximately 810,000 acres net in Giddings.
Ecopetrol, Colombia's petroleum company, says a cyberattack has stolen data relating to 3,300 accounts
The?energy company?Ecopetrol, controlled by the state of Colombia, said that a cyberattack had resulted in a theft of data from about 3,300 accounts. It added that it couldn't "guarantee the breach wouldn't have a "materially adverse" financial effect. However, the company said that it did not identify any disruptions to its production…
Baker Hughes reports that US energy companies have increased the number of rigs to their highest level since April 2025.
Energy services firm Baker Hughes reported on Friday that U.S. firms added rigs this week for a fifth consecutive week for the first since early June. The 'total count' now stands at its highest level since April 2025. The total rig counts, which are an early indicator of the future production, increased by seven in the week ending July 17.
BP to sell stakes in the portfolio and close its venture arm
Verdane has agreed to buy minority stakes in over 10 companies from BP's portfolio. Meg O'Neill - the CEO of BP who took over the top position in April - said in a statement earlier this month that the company 'needs' to prioritize financial discipline, by simplifying their portfolio, cutting costs…
Chairman of Chile's Codelco says the company expects copper production to remain flat in coming years
Codelco, the state-owned copper?miner in Chile, expects to maintain current production levels over the next few years, said chairman Bernardo Fontaine on Wednesday. The miner has been working to recover after a?slump in 2022 and?2023, when production dropped to?two decade lows. Codelco produced?1.33 millions of tons at its own mines last year.
Inpex's Australian LNG worker back pay agreement could set an industry standard
Workers at Inpex’s Ichthys plant for liquefied gas in Darwin have unanimously backed a pay deal that they hope will be replicated across Australia's offshore oil and gas sector. This agreement is part of what the unions call a "second wave" of bargaining in the energy sector. They are seeking similar pay and working conditions with Shell…
Shell plans to drill at Venezuela's offshore gas field in 2027, according to sources
Shell has started tendering drilling services for its Dragon off-shore gas project in eastern Venezuela. This is part of a plan to begin drilling four wells here?in the second quarter of 2027. People say that the contract should be awarded before the end of September. The contract will not…
Shell plans to drill at Venezuela's offshore gas field in 2027, according to sources
Shell has begun tendering drilling services for its Dragon off-shore gas project in eastern Venezuela. This is part of a plan to start drilling 'four wells in this area in the second quarter 2027. People familiar with the process say that the contract should be awarded before the end of September.
ARC shareholders approve $16.4 billion Shell takeover deal
ARC Resources announced on Tuesday that its shareholders voted to be acquired by Shell, clearing a'step' for one of the biggest energy sector deals this year. Shell acquired the Canadian Natural Gas Producer in an $16.4 billion deal earlier this year, in order to expand its portfolio of natural gas in North America.
Shell Shell shareholders approve $16.4 Billion Shell deal
ARC Resources announced on Tuesday that its'shareholders voted for the acquisition by Shell, clearing a 'next step in completing?one of...this _year?s largest energy sector deals. Shell acquired the Canadian Natural Gas Producer in an $16.4 billion deal earlier this year, in order to expand its natural gas portfolio in North America.
Ifax reports that Kashagan Oilfield Operator ordered to pay $4.9 Billion environmental fine
Interfax reported that Kazakhstan's Justice Ministry said that the operator of the?Kashagan oilfield is required to pay an environmental fine of 2.3 trillion tenge ($4.89 billion) by July 20. However, the company has filed a claim for arbitration against the penalty. Interfax reported that Daniyel Vaisov…
Industry warns that the planned reform of Congo's mining laws could undermine investor confidence
A document seen on Monday by the Democratic Republic of Congo's?main mining industry -body? warns that proposed changes in mining laws to tighten state control may dent investor trust in the world's largest cobalt producer. The world's second largest copper supplier is also a significant source of tantalum, germanium and gold.
President warns that heavy-handed revenue enforcement is a danger to the Congo mining industry
Cabinet minutes show that Congolese president Felix Tshisekedi ordered the state revenue agencies to refrain heavy-handed enforcement operations against mining firms, warning 'that excessive measures could dent investors confidence. Tshisekedi’s order reflects Democratic Republic of Congo’s…
Baker Hughes reports that US energy companies have added rigs to their fleets for the fourth consecutive week.
Baker Hughes, a leading energy services company, said that U.S. firms added rigs this week for the fourth consecutive week for the first since early June. Baker Hughes normally releases the report around 1700 GMT on Fridays at?1 pm EDT. The report was released 49 minutes later. Baker Hughes officials did not comment on the cause of the delay.
The head of the IEA urges EU to reconsider its opposition to new Arctic oil exploration
The head of International Energy Agency, urging the EU to reconsider its opposition to oil and gas exploration in the Arctic as Europe strives to secure future energy supplies. The European Union currently supports an 'ban on new drilling in the Arctic for environmental reasons, but may revise its policy to address concerns over energy security.
Bunge will supply soy oil to Acelen Brazil's sustainable aviation fuel project
Executives from both companies confirmed that Acelen Renovaveis - an energy company backed by Abu Dhabi’s Mubadala Capital - has signed a five year agreement with the agribusiness giant Bunge for 1.5 million metric tons of soy oil. The contract is to supply the oil as part of a project in Brazil’s Bahia State…
Brazil retains 12% oil export taxes, to review the measure in 30 Days
Brazil's government approved Thursday the extension of the 12% tax on crude oil exports for 60 more days. The measure was introduced in March to combat the rising price of oil linked to the Iran War. Gecex took the decision, the executive management of Brazil's Foreign Trade Chamber Camex.
Bolivia: Petrobras could return to oil production and help YPFB restructure
Energy Minister Marcelo Blanco announced on Thursday that Bolivia would begin technical discussions next week with Brazil’s state-owned oil?firm Petrobras about its possible return to exploration?and production in the country. The company is also willing help restructure the state?energy?firm YPFB.
BP CEO: Company must tighten its spending and maintain financial discipline
Meg O'Neill, BP's CEO, said that the British energy giant must prioritise its financial discipline, by simplifying their portfolio, cutting costs, and tightening up capital expenditure, while focusing on its core investments in oil and gas. O'Neill has worked to restore investor confidence by reducing costs and debt.
Ivanhoe expects Congo copper production to rise in the second half of 2026, a statement from Ivanhoe shows
Ivanhoe Mines announced on Wednesday that copper production at its flagship Kamoa - Kakula complex, in the Democratic Republic of Congo, is expected to increase in the second half of 2026. This will be due to an increase in mining rates and a reduction in inventories. Ivanhoe Congo, based in Vancouver…
Chevron offers its chemical technology to rival drillers in order to boost shale-oil output
Chevron said it would allow rival oil companies to purchase a chemical technology that was developed by the company to increase production from shale oil wells. This is part of a larger push to increase U.S.?oil?output. The move comes at a time when the U.S. Shale industry, which transformed…
US stock futures fall as Trump declares the Iran deal 'over'. Oil climbs
U.S. Stock Index?futures fell sharply on Wednesday.?Nasdaq Futures reached a four-week high after President Donald Trump declared that a memorandum aimed at ending a war with Iran is "over". This sent oil prices soaring. The U.S. President, speaking in Ankara, ahead of the NATO summit, said he was not interested in further engagement with Iran.
Former Pemex CEO Victor Rodriguez detained, national register shows
According to Mexico's arrest register, the former Pemex chief executive Victor Rodriguez has been detained since Tuesday. However, it did not state why he was being held. I was unable to reach Rodriguez for a comment. A video that surfaced in late June appeared to show Rodriguez violently abusing the wife of his former state energy company Pemex.
Exxon announces Q2 profit surge as oil prices rise.
Exxon Mobil, the U.S. oil major, said on Tuesday that it expects its second-quarter earnings to increase by about $5 billion compared to the prior quarter. This is because the price of oil spiked due the U.S. - Israel war against Iran. The company's margins for refining also improved. Investors…
Nigeria's UTM secures a gas supply agreement, clearing a key obstacle to achieving $3 billion LNG project
UTM Offshore, Nigeria, announced on Tuesday that it had signed a 15-year agreement for gas supply. This removes a major hurdle to the final investment decision of its $3 billion floating liquefied natural?gas project. The decision is now expected in fourth quarter, after several delays. According to the agreement…
BP withdraws from Bay du Nord oil projects, leaving Equinor the sole owner
BP and Equinor have agreed to sell their stakes in the Bay du Nord oil project off the coast of Canada. The British energy giant is now focusing on opportunities with higher returns. Equinor, a Norwegian company, will acquire BP's 37.2% share of Bay 'du Nord under the agreement. The companies did not disclose financial details.
Congo does not see any major threat to its copper and cobalt production from the Middle East Crisis
A senior mining official said that the Democratic Republic of Congo did not expect any significant disruptions in copper and cobalt output this year because of chemical supply constraints resulting from the Middle East conflict. U.S. - Iran conflict, which began on February 28, and is largely over after a?last month interim peace treaty has halted…
Azerbaijan summons Russian ambassador over attack on SOCAR Fuel Station in Ukraine
The 'Azerbaijani Foreign Ministry' said Monday that it had summoned the 'Russian' ambassador to protest against what they said was an attack by a Russian drone on a fueling station owned by state oil and gas firm SOCAR on Sunday in Ukraine's Mykolaiv Region. In retaliation to Kyiv's increasing?campaigns…
Australian shares are down as consumer and bank stocks fall; commodity stocks hold back losses
Australian shares fell on Monday, as losses in consumer and financial stocks were offset by gains in commodities. Meanwhile, 'Vault Minerals' surged to its highest level in four months after Genesis Minerals made a $5.6 billion takeover offer. The S&P/ASX 200 Index?fell?0.2% at 08826, as of 0008 GMT…
Fiserv and service station operators, including BP, warn US stores about illegal vapes
Fiserv, a payments platform, and operators of service stations including BP have 'warned' their U.S. counterparts and store owners to not?deal with illegal vapes - or risk heavy fines. According to estimates, a coalition of state and city law enforcement officials in the U.S. are putting pressure on shippers…
Congo cobalt exporters fear losing quotas due to administrative glitch, sources say
According to a letter and industry officials, major cobalt producers are at risk of losing some of their first-half exports quotas because of an administrative error affecting a platform for customs. According to one industry source, due to the new directives that withdraw unused quotas the…
Baker Hughes reports that US energy companies have added rigs to their fleets for the third consecutive week.
Baker Hughes, a provider of energy services, said that U.S. firms?added drilling rigs this week for the third consecutive week. The number of oil and gas rigs, a good indicator of future production, increased by 7 in the week ending July 2. This is its highest level since May 2025. Baker…
Cumberland Farms files US IPO in a market that is booming for new listings
Cumberland Farms, a convenience?store retailer in the United States, filed for an initial 'public offering (IPO) on Thursday. This is adding to a busy stock market summer as favorable market conditions have swelled a swollen IPO pipeline. After nearly three years in which the U.S. IPO Market was subdued…
India's palm oil imports in June fell to a 14-month low due to a softening demand, say dealers
Five?dealers reported that India's imports of palm oil in June were the lowest in 14 months due to a combination of?a declining discount on rival oils and?a subdued market demand. The world's largest?importer? of vegetable oils, the United States, is reducing its palm oil purchases. This could cause stocks to rise in major producers Indonesia and Malaysia.
Data shows that Russia's LNG imports will increase by 9.9% during the first half of 2026.
The preliminary LSEG data showed that Russia's liquefied gas exports grew 9.9% - in the first half of this year - to 16.6 million metric tonnes, boosted mainly by the growing supply resulting from the new Arctic LNG 2 project. Due to seasonal maintenance, exports in June fell by 1.5% compared to a year ago and 37% compared to May, to 2.03 million tons.
Genel Energy, a Kurdistan-based company, marks Egypt's entry with a $360 million Capricorn acquisition
Genel Energy announced on Thursday that it would?acquire?Capricorn Energy for $360m in a cash-only deal. This will give it a foothold into Egypt, as it looks to diversify its oil assets, which are prone to disruption, in Iraqi Kurdistan. Genel will pay a total of $4.74 for each Capricorn stock, consisting of $3.75 cash and $0.99 in special dividends.
Elliott circles as Northern Star announces new CEO for gold miner Northern Star
Northern Star Resources announced Suresh Vaddnagra as its new CEO on Thursday, as the company reported preliminary gold sales which met revised guidance. This move may satisfy activist investor Elliott who is looking for a major overhaul of the business. Elliott Investment Management, which amassed an?over A$1 billion stake ($689.10 millions) last month…
Norway offshore workers and employers enter mediation to avoid strike
Norwegian unions representing workers on offshore drilling rigs and floating platforms entered wage negotiations with the state on Wednesday. They hoped to avoid a strike that was scheduled for Friday, which could have affected a part of Norway's oil and natural gas industry. Styrke Safe…
Canacol gas restrictions force Colombia's Cerro Matoso ironickel mine to reduce output
On Wednesday, Colombia's Cerro Matoso Ferronickel Mine announced that it would be cutting operations by 25 percent after Canacol Energy, of Canada, reduced the 'natural gas supply' to the plant. This threatened jobs, supplier contracts, and fiscal payments. Cerro Matoso is owned by CoreX Holding, located in Colombia's northern Cordoba Province.
Investors make a bigger push to support campaigns in H1 and seek out more M&A
Barclays data shows that activist investors increased the pace of campaigning in the first half 2026. Their main?demand' was to have businesses sell themselves in a rebounding market. According to data, between January and June, activists like Elliott Investment Management and Jana Partners launched 136 campaigns globally…
Norway offshore workers and employers enter mediation to avoid strike
On Wednesday, Norwegian unions representing offshore drilling platform and 'floating platform' workers began wage negotiations mediated by the state. The aim was to avoid a strike that would have taken place on?Friday and could affect parts of?the oil and gas industry in Norway. Styrke Safe…
Norway's Aker shares rise 7% following $3.1 billion Cognite sales
Aker ASA shares rose by nearly 7% after the Norwegian investment company and its partners agreed on Wednesday to sell Cognite, a software firm for industrial applications to Schneider Electric in a 'all-cash' deal valued at $3.1 billion. Cognite, the industrial software unit of Schneider Electric…
Colombia president-elect taps Miguel Gomez as finance minister
Gomez said that Abelardo De La Espriella (the president-elect of Colombia) had appointed him as finance minister. Gomez is a conservative of '65 years old. He will be tasked with pushing through ambitious economic reforms in a polarized Congress where no party has a majority, and the left dominates.
The US has lifted sanctions on Serbia's NIS oil company, which is owned by Russians.
Serbian energy Minister Dubravka Djedovic Handanovic announced on Instagram that the U.S. Treasury Office of Foreign Assets Control has granted another reprieve to Serbian-owned NIS oil until July 31. The waiver from the U.S. Office of Foreign Assets Control allows NIS to continue to import…
Shell sells Gulf of America assets for $1.7 billion to Talos Energy Ridgewood
Shell announced a deal on Tuesday to sell its interest in the Na Kika Platform and associated fields in the Gulf of America to subsidiaries of Talos Energy & Ridgewood Energy. The sale will be for $1.7 billion. Shell will produce 37,000 barrels equivalent to oil per day from the assets in 2025.
BP announces that Carol Howle, deputy CEO and head of trading at BP, will retire.
BP announced on Tuesday that its deputy CEO and chief trading officer Carol Howle would retire. This announcement was part of a broader leadership reshuffle, which has already seen a new CEO named and the 'chairman' removed in the past few months. The company announced that Sam Skerry will replace Howle…
The impact of war on Ukraine is shown by the nests of fiber-optic cable birds.
Researchers say that a nest of a small bird made from grass and fibre-optic cables near the front lines of the war in Ukraine shows the impact the conflict has had on the environment. The conflict, which is now more than four years old, has reshaped the natural landscape. The frontline of the 1…
Zelenskiy, a Ukrainian politician, mocks Russian military efforts and says that Moscow rejects any peace proposals
On Monday, Ukrainian President Volodymyr Zelenskiy mocked Russia’s military?drive. He said that the Kremlin had over a period of four years'set and put off 15 deadlines for capturing the eastern Donbas?region. Zelenskiy?s comments were a reaction to Russian President Vladimir Putin rejecting a Ukrainian proposal a day before…
Mexico's Sheinbaum promises no protection to the ex-Pemex boss after his wife posts an alleged abuse video
On 'Monday, Claudia Sheinbaum, Mexican president, vowed that she wouldn't protect anyone after it appeared in a video that the former head of state energy company Pemex Victor Rodriguez violently abused his wife. The video, posted on YouTube by a woman who identified herself as Maria Felicia Jimenez (Rodriguez's wife)…
Mexico's Sheinbaum promises no protection to the ex-Pemex boss after his wife posts an alleged abuse video
Claudia Sheinbaum, Mexican president, said on Monday she would not 'protect anyone after it was revealed that a video had been released showing the violent abuse of his wife by Victor Rodriguez, former head state energy company, Pemex. The video was posted on YouTube by a woman who identified herself as Maria Felicia Jimenez. She is Rodriguez's spouse.
Congo withdraws cobalt export quotas that are not being used
The strategic minerals regulator of the Democratic Republic of Congo announced that it would reassign unused cobalt quota rights to a state-controlled entity. This will tighten control over shipments coming from the top producer in world. In a Monday notice, ARECOMS stated that all export…
Golden Pass LNG is offline following a near-halt in gas intake according to LSEG data
Golden Pass LNG is a joint venture 'between QatarEnergy & ExxonMobil. It has taken little or no natural gas... over the.past.three.days. And it appears to be offline. Since March 30, the Texas-based export facility is commissioning its first of three LNG trains, with multiple start-and stop periods to test and fine-tune equipment.
Matador Resources JV increases Delaware Basin footprint by $752 Million Cardinal Deal
Matador Resources, an oil and gas company, announced?on Monday that its joint venture San Mateo Midstream had agreed to purchase the operating subsidiaries of Cardinal Midstream Partners for a total of $752 million?in cash. The deal reflects the continued consolidation of the U.S. Energy…
Occidental CEO's new role tested by debt, lagging share price and large dividend payments to Berkshire
Richard Jackson, Occidental Petroleum CEO for less than a month, has been tasked with finding ways to boost a lagging share price and pay off more debt. Jackson could face a fundamental question in the long term: whether it should seek a buyer of its oil company, which has a market capitalization of $51 billion.
Australian energy firms increase their exploration
Australia is the No.2 liquefied natural gas producer in the world. This increase is due to domestic gas demand, a more favourable investment climate and improving technology. Australia, the world's No. Geoscience Australia has provided a summary of drilling activity, including estimates of contingent resources as of October 20…
The U.S. seeks to waive sanctions on Serbia's NIS Oil Company, which is owned by Russians.
The company announced on Friday that Serbia's Russian owned NIS (NIIS.BEL), the only oil refinery in the country, had applied for a new U.S. sanctions waiver to continue 'operations' after July 1, when the existing one expires. NIS cannot import or process crude oil without the waiver. NIS supplies up to 80% the Serbian market…
Sources: Haleon is among the bidders for Thorne supplements manufacturer
Haleon, a consumer health company, bid on Thorne U.S. Supplements firm, according to sources. This was done at a moment when Haleon hoped to expand into the approximately $70 billion U.S. Haleon, a consumer health company, bid for Thorne U.S. supplements firm on Friday. This was at a time when Haleon was hoping to expand in the roughly $70 billion?U.S.
Baker Hughes reports that US energy companies have added the most rigs per week in a row since June 2022.
Baker Hughes, an energy services company, said in its report on Friday that the U.S. energy companies?had experienced their largest weekly increase of rigs since June 2022. The number of oil and gas rigs, a good indicator of future production, increased by 10 during the week ending June 26. This is the biggest weekly increase in the last four years.
Andy Home: Copper prices are soaring, but smelters cannot rely on them to survive.
Copper's value for smelters is at an all-time low, despite the price of the metal being near its highest level. This is due to the unprecedented collapse in processing fees. Companies that refine copper concentrate from mined concentrate are now dependent on the value of what comes with it for their survival.
Andy Home: Copper prices are soaring, but smelters cannot rely on them to survive.
Copper's value for smelters is down after a massive drop in processing fees. Companies that refine copper concentrate from mined concentrate are now dependent on the value of what is included in the?copper' for their survival. Gold, silver, and sulfuric acids are by-products from the conversion…
OPEC Oil Producer Group Membership Timeline
Sources told Reuters on Thursday that Iraq had considered leaving the Organization of Petroleum Exporting Countries (OPEC) if it's?oil output quota was not increased. This comes weeks after the United Arab Emirates left the organization. Since late 2016, OPEC and Russia have worked together to manage the oil market through quotas.
Trump calls the UK's next expected PM 'extremely Liberal'
U.S. president Donald Trump said that he knew 'little' about Andy Burnham who is expected to be the next British prime minister. He described him as "mayor of "a town", "extremely Liberal" and someone 'who wouldn't likely open up the North Sea for more oil drilling. In remarks late on Wednesday the U.S.
BP signs a concession agreement with ADNOC and partners for Bab Gas Cap Project
BP announced on Thursday that it had'signed a concession -agreement' with ADNOC and partners for the development of the Bab Gas Cap Project in the UAE. BP will take a 10% share, marking its first access to Abu Dhabi upstream gas resources. The project will consist of three?reservoirs within the Bab Field onshore and is expected to produce up to 1…
Vaar Energi to invest $1.4 billion in 3 oil and gas discoveries offshore Norway
Vaar Energi, together with its partners, will invest approximately 14?billion crowns (1.42 billion dollars) in order to develop three oil & gas discoveries offshore Norway. This is according to plans that were submitted to the Energy Ministry on Thursday. Cerisa Nord, Gjoea Nord, and Ofelia…
