Nigeria has sent a signal that the recovery in global oil demand still has some way to go, with volumes for next month’s loading struggling to find a home, even among its main customers. SourceContinue Reading
Mexico President Andres Manuel Lopez Obrador is raising Pemex’s spending plan for next year to about $32 billion in a bid to boost flagging oil production. SourceContinue Reading
China made an unprecedented intervention in the global oil market, releasing crude from its strategic reserve for the first time with the explicit aim of lowering prices. SourceContinue Reading
Mexico cut its forecast for oil production at Pemex next year and reduced its tax burden after a string of accidents at offshore platforms signaled the highly indebted state company is struggling. SourceContinue Reading
Saudi Aramco is considering a bold move to open up one of the world’s largest unconventional gas fields to foreign investors, as it looks to fund a $110 billion project to help it diversify from oil sales, people familiar with the matter said. SourceContinue Reading
“The commitments shown by Suncor Energy, Cenovus Energy, and Murphy Oil are extremely positive for the Newfoundland and Labrador offshore oil and gas industry,” Noia CEO Charlene Johnson said in a statement. SourceContinue Reading
Higher consumption across major economies is buoying oil prices that have rallied around 40% this year. Against this backdrop, the OPEC+ alliance decided to keep restoring crude supply earlier this month, citing tighter balances into year-end. SourceContinue Reading
Gazprom PJSC is planning to start flowing natural gas through one of the world’s most controversial pipelines next month, according to people with direct knowledge of the company’s plan. SourceContinue Reading
Gazprom PJSC is planning to start flowing natural gas through one of the world’s most controversial pipelines next month, according to people with direct knowledge of the company’s plan. SourceContinue Reading
India’s Oil and Natural Gas Corp. is exploring a purchase of a significant minority stake in the $4 billion-plus Sangomar oil project off the coast of Senegal from Woodside Petroleum Ltd., according to people familiar with the matter. SourceContinue Reading
