The U.S. is holding its largest sale of oil from strategic reserves this year at a time when the outlook for fuel demand is darkening amid the resurgent Covid-19 virus. SourceContinue Reading
Operator Neptune Energy and its partners Idemitsu Petroleum Norge, PGNiG Upstream Norway and Sval Energi today announced the safe and successful start-up of production from the Duva development in the Norwegian sector of the North Sea. SourceContinue Reading
The U.S. crude benchmark climbed nearly 5% on Monday and the global benchmark Brent also advanced, rallying along with equities and other commodities. In addition to more positive sentiment in financial markets, China has made progress in containing the fast-spreading delta variant, bringing local cases down to zero. SourceContinue Reading
Chevron and Hess are requiring employees who work on its platforms in the Gulf of Mexico to get the Covid-19 vaccine, as the oil giant responds to rising cases across the southern U.S. SourceContinue Reading
Chancellor Angela Merkel reinforced her vow to push for additional sanctions against Russia if the Kremlin uses the Nord Stream 2 gas pipeline linking Russia to Germany as a “weapon.” SourceContinue Reading
Chevron Corp. is requiring employees who work on its platforms in the Gulf of Mexico to get the Covid-19 vaccine, as the oil giant responds to rising cases across the southern U.S. SourceContinue Reading
The court of appeals in Nigeria’s capital, Abuja, overturned a 2019 ruling that granted Shell Petroleum Development Co. the right to renew its operating license for the Oil Mineral Lease 11 field. Those rights will transfer to the state-owned Nigerian National Petroleum Corp. SourceContinue Reading
Vitol Group and Trafigura Group — both barred from new oil-trading business with Mexico’s state producer for alleged corruption — will be subject to the ban until at least the end of 2024 while the government reviews the conduct of other commodity traders, Energy Minister Rocio Nahle said. SourceContinue Reading
The Environmental Protection Agency is set to send a draft of biofuel-blending quotas to the White House for review soon, marking a key step in the Biden administration’s bid to balance competing oil and agricultural interests. SourceContinue Reading
