Guyana, home to the world’s largest oil discovery of the past decade, is in discussions with Abu Dhabi to build a deepwater port to serve the rapid economic development along South America’s Caribbean coast. SourceContinue Reading
Economy Minister Robert Habeck said Germany has already cut its reliance on Russian oil enough to make a full embargo “manageable,” potentially laying the groundwork for a continent-wide ban that would upend the global trade in petroleum. SourceContinue Reading
Seaborne exports of Russia’s crude rebounded in the seven days to April 22. One-fifth of the volume shipped from ports on the Black Sea, Baltic and Arctic coasts is on tankers showing no final destination, with most expected to end up in Asia. SourceContinue Reading
Oil dropped at the start of the week on concerns that a spreading Covid-19 outbreak in China will impact consumption even further. SourceContinue Reading
Halliburton, which controls more fracing capacity than any other company, predicted North American explorers will boost spending by 35% this year, up from a pre-war forecast of 25%. SourceContinue Reading
Halliburton Co. said that sanctions imposed by the U.S., the EU and others require the company to wind down certain contracts in Russia by May 15. SourceContinue Reading
More than 100 people died in an explosion at an illegal oil refinery in southeastern Nigeria over the weekend, demonstrating the dangers associated with an illicit industry that thrives in the crude-producing region. SourceContinue Reading
Libya’s oil ministry said fields shut down by protesters may reopen within days, potentially allowing the OPEC member to get back to full production. SourceContinue Reading
The world’s biggest oilfield-services provider said its suspension of future investment in Russia, a market that has represented about 5% of its total sales, means it can shift its own spending to other parts of the world. SourceContinue Reading
