French oil major Total SE must continue to produce gas in Myanmar and pay taxes to the military junta to protect staff from forced labor and maintain electricity supplies, Chief Executive Patrick Pouyanne said in an op-ed in Le Journal du Dimanche newspaper. SourceContinue Reading
Crude has rallied this year as vaccine rollouts help major economies reopen. The decision by the Organization of Petroleum Exporting Countries and its allies was seen as a vote of confidence in the outlook for energy demand. The U.S. also added more than 900,000 jobs in March, the most in seven months. SourceContinue Reading
An estimated 10,000 people fleeing an insurgent attack in northern Mozambique have sought refuge in a village within the concession area of Total SE’s $20 billion natural gas project, with more still arriving, according to two people with direct knowledge. SourceContinue Reading
An estimated 10,000 people fleeing an insurgent attack in northern Mozambique have sought refuge in a village within the concession area of Total SE’s $20 billion natural gas project, with more still arriving, according to two people with direct knowledge. SourceContinue Reading
Russia pumped 43.34 million tons of crude and condensate last month, according to preliminary data from the Energy Ministry’s CDU-TEK unit. That equates to 10.249 million barrels a day, based on 7.33 barrel-per-ton conversion ratio, or 1.3% more than in February. SourceContinue Reading
Saudi Arabia raised prices for oil shipments to customers in its main market of Asia, signaling the kingdom’s confidence in the region’s economic recovery. SourceContinue Reading
One day after the U.S. energy secretary phoned Saudi Arabia on the “importance of affordable and reliable energy for consumers,” Interior Secretary Deb Haaland called the domestic fossil fuel industry “fundamentally broken,” suggesting that Biden’s oil and gas leasing moratorium will be anything but temporary. SourceContinue Reading
Pioneer Natural Resources Co. is buying DoublePoint Energy LLC in a deal valued at $6.4 billion, less than three months after completing its purchase of fellow shale driller Parsley Energy Inc. as it expands in the U.S. Permian Basin. SourceContinue Reading
Defying market expectations for the second time in less than a month, the group agreed to add more than 2 million barrels a day to global oil supplies from May to July. That will return about a quarter of the crude they are still withholding after making deep cuts a year ago in response to...Continue Reading
Optimism has also been buoyed by expectations that global crude supplies won’t grow fast enough to satisfy demand as Covid-19 vaccinations proliferate and economies that shut down for the better part of a year begin reopening. SourceContinue Reading
