Petrol

Egypt

Egypt Oil Min Says Framework Agreement in Place on Gaza Marine Field

Egypt's petroleum minister confirmed on Tuesday a framework agreement had been reached to develop the Gaza Marine gas field offshore Gaza and talks were under w…

Oil Refinery

French Government: On Right Track Over Further Easing Petrol Supply Problems

The French government said on Sunday that France was on the right track over further easing the problem of petrol service stations not having enough petrol due …

Oil Price

Goldman: U.S. SPR Crude Releases to Have Modest Price Influence

The Biden administration's plan to continue releasing the Strategic Petroleum Reserves (SPR) "as appropriate" to bring down retail rates poses limited downside …

Oil Price

U.S. Could Sell Oil From Emergency Reserve This Week -Sources

The Biden administration plans to sell oil from the Strategic Petroleum Reserve in a bid to dampen fuel prices before next month's congressional elections, thre…

Oil Refinery

French Refinery Strike Further Hits Petrol Supplies, Prime Minister Says

Petrol supplies at French service stations fell further over the weekend due to a weeks-long strike at oil major TotalEnergies.

Oil Refinery

CGT Union Shuns TotalEnergies Talks as French Petrol Crisis Drags On

The CGT union at the core of a weeks-long strike at oil major TotalEnergies slammed the door to talks on Friday, leaving more moderate unions to reach a wage de…

United States

U.S. Will Use SPR Barrels Responsibly Where It Makes Sense to Stabilize Markets -Official

The Bryan Mound Strategic Petroleum Reserve, an oil storage facility, is seen in this aerial photograph over Freeport, Texas, U.S., April 27, 2020. REUTERS/Adre…

OPEC

U.S. Officials Promised Saudis It Wouldn’t Let Oil Market Collapse

U.S. officials told Saudi Arabia prior to the OPEC+ meeting that it would help stave off a collapse in the oil market by buying oil at $75 per barrel to repleni…

Crude Oil

White House Leaves Door Open for Additional SPR Releases

The White House said on Tuesday that it has many options to counteract OPEC+’s looming production cuts, including the release of even more crude oil from the n…

Oil Refinery

France Struggles with Refinery Strikes, but Not Planning Petrol Rationing

More than a fifth of France's service stations were grappling with supply problems on Saturday as strikes at refineries run by oil majors TotalEnergies and Exxo…

Crude Oil

U.S. Sells Oil from Emergency Reserve to Marathon, Equinor, Others

The United States has sold a 10.15 million barrel batch of oil from the Strategic Petroleum Reserve to eight companies, the Department of Energy said on Friday.…

Oil Price

Biden to US Oil Companies: ‘Bring Down Petrol Prices Now’

Crude prices have fallen in recent weeks on fears of a global economic slowdown.

Oil Price

Nigeria’s Fuel Subsidies Surpassed $1 Billion in August as It Supplied More Petrol

The cost of Nigeria's fuel subsidies rose to 525.714 billion naira in August, bringing the total spent this year to 2.568 trillion naira, according to figures s…

Oil Price

U.S. To Sell Up to 10 Mln Bbls of Oil From SPR for Nov. Delivery

The U.S. Energy Department said on Monday it will sell up to 10 million barrels of oil from the Strategic Petroleum Reserve, for delivery in November.

Crude Oil

U.S. Crude in SPR Hits Lowest Level Since January 1985

U.S. crude inventory in the Strategic Petroleum Reserve (SPR) fell by 8.1 million barrels in the latest week to the lowest level in more than 35 years, accordin…