Cairn Energy Plc shareholders can expect a payback of as much as $700 million once the UK oil producer settles a long-running tax dispute with India. SourceContinue Reading
India’s top energy companies, Petronet LNG Ltd. and ONGC Videsh Ltd., are having discussions about buying a stake in Russia’s planned liquefied-gas project Arctic LNG 2 as their government seeks to secure supplies of the cleaner burning fuel. SourceContinue Reading
Oil extended losses after Saudi Arabia slashed crude prices for Asian buyers, raising the prospect of fierce competition among sellers as the resurgence of Covid-19 continues to cloud the demand outlook. SourceContinue Reading
Saudi Arabia cut oil prices for sales to Asia next month by more than twice the expected amount in a sign the world’s largest crude exporter wants to entice buyers to take more of its barrels. SourceContinue Reading
Federal authorities are responding to a 14-mile long oil spill in the Gulf of Mexico discovered in the aftermath of Hurricane Ida, according to the Louisiana Oil Spill Coordinator’s Office. SourceContinue Reading
Talos Energy Inc., the U.S. offshore explorer behind Mexico’s largest oil discovery in years, is taking the first step toward an international dispute after control of the field was given to state producer Pemex. SourceContinue Reading
The U.S. is granting a second refiner in Louisiana access to the country’s emergency crude stockpiles as most oil-producing platforms in the Gulf of Mexico remain offline after Hurricane Ida. SourceContinue Reading
According to figures released September 3rd by the Railroad Commission of Texas, the state’s drilling permits issued fell to their lowest level since May, while new drills hit their highest total since March. SourceContinue Reading
Legislation to block oil drilling in most U.S. waters and Alaska’s Arctic National Wildlife Refuge edged closer to passage Thursday, as the House Natural Resources Committee rejected more than a dozen changes sought by Republicans. SourceContinue Reading
The U.S. Department of Energy has authorized Exxon Mobil Corp. to receive crude from the Strategic Petroleum Reserve to kickstart the production of fuels while most oil production in the Gulf of Mexico remains shut. SourceContinue Reading
