Rice

Crude Oil

BP Profit Triples on Soaring Energy Prices

Oil company reveals profits increased to a 14-year high.

Oil Price

Saudi Arabia’s Economy Grows 12% In Q2 on High Oil Prices

Saudi Arabia recorded a GDP growth rate of 11.8 percent for the second quarter, driven by a 23.1-percent rise in oil income, according to preliminary data cited…

Natural Gas

Australia Considers Curbing Gas Exports to Avert Domestic Supply Crunch

Australia said on Monday it will decide whether to curb exports of liquefied natural gas (LNG) after a watchdog urged restrictions, warning one of the world's b…

Oil Price

South Africa Authorities to Cut Fuel Pump Prices From Wednesday

South Africa will slash the pump price of fuel from the middle of next week, aiming to ease the burden on consumers of soaring energy prices since the Ukraine w…

Oil Price

Oil Prices Slip Ahead of OPEC+ Meeting

Oil prices dropped early on Monday as investors braced for this week's meeting of officials from OPEC and other top producers on supply adjustments.

Crude Oil

More Oil Discoveries Boost Guyana’s Offshore Boom

Guyana has seen a string of oil discoveries, quickly positioning it as one of the world’s hottest offshore drilling locations.

Chevron, Exxon Post Record Quarterly Profits as Commodity Prices Boom

Exxon and Chevron posted record profits during the second quarter of 2022 as high commodity prices boosted operations, and as the oil giants kept spending in ch…

Shell Reports Record Profit of $11.5 Billion

Shell on Thursday reported a profit of $11.5 billion for the second quarter, beating expectations, lifted by strong refining profits and energy prices.

Natural Gas

EU Greenlights €5BN German Scheme to Support Energy and Trade Intensive Firms

Under the measure, the aid will take the form of direct grants for additional costs due to severe increases in natural gas and electricity prices

Oil Price

Guyana Looks to Attract New Players in Upcoming Oil Tender

Guyana's President Ali hopes that new players in Guyana will add diversification.

Oil Price

Oil Prices Slide as IMF Sees Global Economy Teetering on the Brink

IMF slashes global GDP growth forecasts for this year, to 3.2%.

Natural Gas

US Natural Gas Hits Highest Level Since 2008, on Pace for Best Month Ever as Russia Cuts Supply

Natural gas prices are surging around the world as scorching temperatures stoke demand for the fuel, and as Europe’s push to move away from Russian fuel roils …

Coal Price

Back to Black? Germany’s Coal Power Plan Hits Hurdles

High coal prices, supply bottlenecks and aged plants are posing a challenge to Germany's plan to increase electricity production from hard coal-fired power plan…

Crude Oil

Guyana Poised to Break $1 Billion in Oil and Gas Revenue This Year

Guyana’s government oil and gas revenue is set to surpass $1 billion in 2022.

Oil Price

Oil Rallies on Supply Fears and Tight Market

A force majeure declaration by Russia's Gazprom and a disruption to the Keystone pipeline between Canada and the US have boosted crude prices