Singapore-based oil and commodities trading powerhouse Trafigura Group has posted the smallest profit since the 2020 oil crisis as volatility in energy markets hit new lows. Trafigura’s net profit dropped to $1.47 billion in the six months through […]
The Biden administration has announced the purchase of an additional six million barrels of crude oil for the Strategic Petroleum Reserve (SPR), capitalizing on a recent dip in oil prices to bolster the nation’s emergency […]
Russian President Vladimir Putin said Friday that nearly 40% of the country’s trade turnover is now in rubles as the share conducted in dollars, euros and other “non-friendly” Western currencies has fallen away. Speaking at the St. […]
In a new BMI report sent to Rigzone by Fitch Group, BMI analysts examined “the good, the bad and the ugly” of OPEC+’s new policy. Looking at the “good”, BMI analysts noted in the report […]
China’s imports of Iranian crude in May surged to the highest level in seven months after a recovery in refining margins. The Asian nation imported 1.54 million barrels a day of Iranian oil last month, […]
Suspected Ukrainian drone strikes early on June 6 set Russian oil installations on fire in two regions bordering Ukraine as Russia continued to launch strikes on civilian targets in several Ukrainian regions. A drone attack on an oil refinery […]
More than $500bn (£391.13bn) was invested into oil and gas last year, according to a report from the International Energy Agency (IEA), in a blow to environmental activists’ calls for no new fossil fuel development. […]
Oil futures prices have fallen to the lowest level for four months and calendar spreads have slumped after OPEC+ ministers signalled their intention to start increasing production from the fourth quarter of 2024. Front-month Brent […]
Stockholders of TC Energy Corp. have voted in favor of a proposal to separate the liquid transport operations of the Canadian oil and gas pipeline company into an independent publicly listed business. Each TC Energy […]
Russia’s oil proceeds increased almost 50% in May from a year ago, with the nation managing to circumvent sanctions and get a higher price for its crude. According to Bloomberg calculations, the country’s oil-related taxes […]
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