Oil extended gains to the highest in three weeks a day after U.S. crude stockpiles dropped the most since September while the dollar slipped. SourceContinue Reading
Amplify Energy Corp. was charged with criminal negligence in California’s worst oil spill in almost three decades, in which an estimated 25,000 gallons (94,635 liters) of crude oil leaked from a submerged pipeline off the coast of San Diego. SourceContinue Reading
Mahathi Infra Uganda’s $270-million lakeside logistics complex, a strategic addition to the East African nation’s oil infrastructure, is set to start operations in January. SourceContinue Reading
Mozambique has made gains against Islamic State-linked insurgents who disrupted the southeast African nation’s multibillion gas project, according to President Filipe Nyusi. SourceContinue Reading
Global demand for oil products has seen strong recovery this year, however, depressed kerosene demand from the aviation sector is a major barrier to full recovery, says GlobalData, a leading data and analytics company. SourceContinue Reading
Billionaire oil wildcatter Harold Hamm is donating $50 million for a new research center at Oklahoma State University focused on “securing America’s energy future,” a move that comes as the industry debates how to transition to cleaner fuels. SourceContinue Reading
Oil eked out a gain, climbing in tandem with equities, as traders weighed the Federal Reserve’s shift to tighter monetary policy to battle inflation. SourceContinue Reading
Fossil fuel companies should face probes on whether they’re using “loophole-ridden” environmental, social and governance goals to boost executive pay while contributing to environmental destruction, Senator Elizabeth Warren said, adding to her calls to rein in CEO compensation. SourceContinue Reading
Crude production in the Permian Basin is expected to surpass a pre-pandemic high this month as a rebound in the U.S. shale industry fuels activity in its most prolific patch. SourceContinue Reading
Oil forecasters have parted company on their views about demand in the coming months, as the omicron variant of the Covid-19 virus spreads rapidly around the world. And producers have emerged as the surprising bulls in the latest round of estimates. SourceContinue Reading
