Crude

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 …

Natural Gas

Hungary Will Not Agree to EU Gas Price Cap, Will Need Exemption

Hungary will not agree to an EU price cap on imported gas because it would end Russian deliveries, a senior aide to Prime Minister Viktor Orban said, adding tha…

Natural Gas

Analysis: Renewables Shift Lays Bare Africa’s Energy Dilemma

Africa must build oil and gas pipelines, liquefied natural gas (LNG) terminals, distribution hubs and gas-fired power plants over the next 20 years to unlock it…

Oil Refinery

Guyana Opens Tender for Its First Oil Refinery

Guyana has called for proposals to design, finance and build a 30,000-barrel-per-day (bpd) oil refinery, the first for the South American country as it becomes …

Crude Oil

Saudi Arabia, United States Clash Over Reason for OPEC+ Oil Cut

Saudi Arabia rejected as "not based on facts" criticism of an OPEC+ decision last week to cut its oil production target despite U.S. objections.

Crude Oil

Oil Slides as U.S. Crude and Gasoline Stocks Surge

Oil prices slipped in early Asian trade on Friday as U.S. crude and gasoline inventories jumped, while Saudi Arabia and Washington continued to clash over plans…

Crude Oil

ADNOC Drilling Contract as UAE Steps up Oil & Gas Production

ADNOC Offshore awards US$980m contract for the hire of two jack-up offshore rigs and associated manpower and equipment.

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…

OPEC

Saudi Aramco to Maintain Full Oil Supplies to Asia in Nov Despite OPEC+ Cuts

Saudi Aramco has told at least seven customers in Asia they will receive full contract volumes of crude oil in November ahead of the peak winter season.

Oil Price

Oil Takes a Breather, Eases off 5-Week Highs

Oil prices slipped on Monday, easing off five-week highs, as the market took profits following strong gains last week on expectations of tighter supplies follow…

OPEC

Saudi Aramco to Keep Full Oil Supplies to N. Asia in Nov Despite OPEC+ Cuts

Saudi Aramco has told at least five customers in North Asia they will receive full contract volumes of crude oil in November

Crude Oil

The UAE Isn’t Ditching Oil for Renewables Just Yet

The UAE isn’t likely to curb its oil production in favor of renewables any time soon.

Crude Oil

Putin Orders Seizure of Exxon-led Sakhalin 1 Oil and Gas Project

Russian President Vladimir Putin signed a decree on Friday that establishes a new operator for the Exxon Mobil Corp-led Sakhalin-1 oil and gas project in Russia…

Crude Oil

China Releases First Batch of 2023 Crude Oil Import Quotas

China has issued the first batch of crude oil import quotas for 2023, mainly to independent refiners, four sources familiar with the matter said on Saturday.

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.…