Oil plunged to the lowest in three weeks alongside a broader market decline with traders also concerned about growing supply from the U.S. and Iran. SourceContinue Reading

Oil extended losses after an increase in U.S. crude inventories added to concerns around the prospect of more Iranian oil returning to the market under a potential revival of the nuclear deal. SourceContinue Reading

Iran said it will soon export oil from a new port that allows it to bypass the Strait of Hormuz, as nuclear talks between Tehran and other world powers show signs of progress. SourceContinue Reading

The two energy giants have signed a non-binding agreement to discuss combining their upstream portfolios in the West African nation. That could be a boon to the country’s beleaguered oil industry, which has seen production slump by more than a third since 2015 amid chronic under-investment. SourceContinue Reading

West Texas Intermediate for June delivery tumbled 1.4%, while global benchmark Brent also declined. Stock markets fell on inflation fears, while the dollar climbed, hampering prices. There was also an increase in U.S. crude stockpiles last week, the American Petroleum Institute reported. SourceContinue Reading

“Our goal is to have several vessels operating in Norway – both in the oil and gas industry and floating wind,” said Duncan MacPherson, the new managing director in Norway for Maersk Supply Service. SourceContinue Reading

“The so-called CLEAN Future Act is nothing more than the Green New Deal in lipstick,” said Texas Railroad Commissioner Wayne Christian. “This legislation would effectively federalize regulation of oil and gas, increasing costs to consumers and our national debt, while harming our energy independence and national security.” SourceContinue Reading

Mikhail Ulyanov, Russia’s representative at the United Nations’ International Atomic Energy Agency, said that while significant progress had been made by officials seeking to orchestrate a U.S. return to the pact abandoned by then-President Donald Trump, “unresolved issues still remain.” SourceContinue Reading

“The balance of risks and rewards associated with our onshore portfolio is no longer compatible with our strategic ambitions,” Shell CEO Ben van Beurden told investors at Shell’s annual general meeting on Tuesday. SourceContinue Reading

“This solution enables enhanced reservoir understanding for our customers with a lower total cost of ownership relative to conventional 4D seismic,” said Jan Schoolmeesters, executive vice president of TGS Operations and New Energy Solutions. SourceContinue Reading