OPEC+ postponed the start of increasing oil production, tightening the market supply and potentially leading to higher prices. Morgan Stanley revised its Brent crude price forecast to $70 per barrel for the second half of […]
Oil driller trims green budget to $1.5 billion from $2 billion Chevron is prioritizing profits over oil production next year Chevron Corp. is cutting low-carbon investments by one-fourth as the oil explorer trims spending across the […]
Changes are afoot in the Iranian-linked VLCC fleet with just over six weeks until Donald Trump is sworn in as the 47th president of the US. Splash reported on further sanctions aimed at Iran’s tanker […]
The North Sea crude market experienced a record-breaking trading day, with eight cargoes traded, potentially influencing Brent Crude prices. Major oil companies and trading firms participated in the trading frenzy, signaling bullish market sentiment. While […]
Expansion of Trans Mountain started operation in May Pipeline provides direct access to Asian markets, avoiding US The expansion of Canada’s Trans Mountain pipeline represented a $24 billion bid to help the country’s oil producers […]
Deloitte’s oil and gas industry outlook for 2025 forecasts that the Trump presidency will facilitate continued consolidation in the U.S. oilfield services sector next year. The oilfield service sector is already consolidating, with a slew […]
Oil deliveries from Russia to Czechia via the Druzhba pipeline have stopped without explanation, raising suspicions as Czech officials remain calm. While the exact reason remains unclear, many see it as another deliberate move […]
The US imposed sanctions yesterday on 35 entities and vessels accused of transporting illicit Iranian petroleum to foreign markets in a curtain raiser to potentially a far stricter attitude towards Iran come next month. One […]
Thanks to a U.S. license for Spanish energy major Repsol to import Venezuelan crude, Spain’s crude oil imports from the South American country have hit this year the highest level since 2006, according to Spanish […]
Full financial assurances from buyers for well clean-up costs have stalled all 37 proposed oil well sales in 2023. 41% of California’s wells are idle or orphaned, with clean-up costs estimated at $2.8 billion. The […]
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