Iran plans to ship a cargo of oil from a port in the Gulf of Oman next week, its first crude export from outside the Persian Gulf and beyond the narrow, crisis-prone Strait of Hormuz. SourceContinue Reading
OPEC’s deal will will ease a looming crude supply squeeze and reduce the risk of an inflationary oil price spike by increasing output each month beginning in August. SourceContinue Reading
OPEC and its allies will meet on Sunday, the latest sign that a bitter standoff between Saudi Arabia and the United Arab Emirates has been resolved. SourceContinue Reading
OPEC and its allies are considering holding a meeting on Sunday, delegates said, after the group made significant progress toward resolving a standoff with the United Arab Emirates that had blocked a deal to boost output. SourceContinue Reading
The reforms – first submitted to parliament in 2008 and conceived at the start of the millennium – are intended to remove legal and regulatory uncertainty that has held back progress on numerous deferred oil and gas projects. SourceContinue Reading
Greenland’s government “has decided to cease issuing new licenses for oil and gas exploration,” it said in a statement. “This step has been taken for the sake of our nature, for the sake of our fisheries, for the sake of our tourism industry, and to focus our business on sustainable potentials.” SourceContinue Reading
“Looking ahead to 2022, risks and uncertainties loom large and require careful monitoring to ensure the recovery from the Covid-19 pandemic,” OPEC said in its monthly report, which contained the first detailed estimates for next year. SourceContinue Reading
The International Energy Agency, the U.S. Energy Information Administration and the Organization of Petroleum Exporting Countries all say that global oil demand will continue to recover through to at least the end of next year. But there is some disagreement on the paths it will take to get there. SourceContinue Reading
Oil fell for a second day after a surprise jump in U.S. gasoline stockpiles tempered signs that the American market has returned to robust health. SourceContinue Reading
Brookfield Infrastructure Partners LP raised its hostile offer for Canada’s Inter Pipeline Ltd. in another push to break up the agreed C$8.3 billion ($6.6 billion) takeover by Pembina Pipeline Corp. SourceContinue Reading
