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Oil prices drop nearly 6% as Israel-Iran ceasefire reduces Middle East supply risk

That ceasefire, however, was on shaky ground with U.S. President Donald Trump accusing both Israel and Iran of violating it just hours after it was announced. Brent crude futures fell $4.02, or 5.6%, to $67.46 […]

Edun meets downstream leaders to deepen energy reforms & drive investment in CNG

*L-R: Abdulkabir Adisa Aliu, CEO of Matrix Energy; Alhaji Auwalu Abdullahi Rano, CEO of A.A. Rano; Wale Edun, Minister of Finance and Coordinating Minister of the Economy; Yakubu Maishanu, Chairman/CEO of AYM Shafa Ltd; and […]

OEG, VGE strengthen Qatar partnership with new agreement

OEG has finalized an agreement with Al Nasr Holding Co. in Qatar. The agreement further reinforces the OEG’s strategic partnership with Venture Gulf Engineering (VGE), an Al Nasr subsidiary, which supports the oil and gas, […]

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Petro-Victory begins drilling campaign in Potiguar basin, Brazil

Petro-Victory Energy Corp., an oil and gas E&P company focused on onshore Brazil, has commenced its drilling campaign of the AND-5 well at the Andorinha Field located in the Potiguar basin, Rio Grande […]

HSBC, Goldman Sachs see Brent oil hitting $80-110/b

*Oil prices – if Strait of Hormuz blocked Bengaluru — Brent crude oil prices could hit $110 a barrel if the Strait of Hormuz is blocked, Goldman Sachs analysts have forecast, while HSBC analysts see […]

Trump tells everyone to keep oil prices down after Iran attacks

*US President Donald Trump News wire — U.S. President Donald Trump expressed a desire on Monday to see oil prices kept down amid fears that the aftermath of the attacks on Iran’s nuclear facilities could […]

Although oil prices remain capped, some effects on market from Israeli-Iran conflict are noticeable

Brent crude oil futures remain capped below the $80/bbl mark, as the crisis enters its second week with no clear resolution in sight. The U.S. has signaled a potential two-week window for possible military action, […]

Oil market braces for surge following U.S. airstrikes on Iran

(Bloomberg) – Oil traders are preparing for an oil-price surge when trading reopens, with the focus on whether Tehran’s retaliation to U.S. airstrikes will lead to a disruption in crude flows that have been largely […]

SBM to become first FPSO operator in Suriname with TotalEnergies’ contract win

SBM Offshore has signed an operations and maintenance contract with TotalEnergies for the FPSO GranMorgu, as part of the field development project located in Block 58 in Suriname. (stock image) The operations and […]

Military efforts slash crude oil theft, as Minister hails Armed Forces

*Security operatives set fire to illegal crude oil refining site. Mkpoikana Udoma Port Harcourt — Nigeria’s Armed Forces have significantly curtailed crude oil theft and dismantled illegal refineries through enhanced naval patrols and air interdictions, […]