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Oil edges up after three-day plunge, demand woes linger
*Oil prices up – Oil prices fall more than 8% so far this week– Fed raises rates, opens door to pause in tightening cycle– ECB set to raise interest rates for 7th time in inflation […]
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ExxonMobil advances fifth offshore Guyana development
*Fifth offshore Guyana development – Uaru project receives government approvals; production targeted to begin in 2026– Fifth Stabroek block development will have a daily production capacity of around 250,000 barrels– $12.7 billion of additional investment […]
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UAE’s ADNOC moves LNG export project to Ruwais
*A general view of ADNOC headquarters in Abu Dhabi, United Arab Emirates May 29, 2019. REUTERS/Christopher Pike/File Photo Dubai — The UAE’s state energy firm ADNOC (ADNOC.UL) said on Tuesday its planned liquefied natural gas […]
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Oil extends losses ahead of expected interest rate hikes
*Cushing, Okla., is a major oil storage site. London — Oil extended losses on Wednesday after plunging 5% in the previous session, as investors priced in expectations for interest rate hikes in the U.S. and […]
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Nigeria, Iraqi outages curb OPEC April output
*The logo of the Organization of the Petroleoum Exporting Countries (OPEC) is seen outside of OPEC’s headquarters in Vienna, Austria April 9, 2020. REUTERS/Leonhard Foeger London — OPEC oil output fell in April due to […]
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CEO of Italy’s Eni sees no major energy price upsets in 2023
*Claudio Descalzi, CEO of Italian energy company Eni Rome — The CEO of Italian oil and gas company Eni, Claudio Descalzi, has said he does not expect any “big shocks” on the energy markets this […]
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Shelf Drilling secures $11m short-term drilling contract offshore Nigeria
*The Adriatic 1 jack-up drilling rig Lagos — Shelf Drilling, Ltd. has secured a short-term contract for the Adriatic I for operations offshore Nigeria, with a firm term of 90 days and an estimated contract […]
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Eni Q1 net profit beats expectations on strong gas business
Milan — Italian energy group Eni said on Friday its first-quarter net profit fell 11% year on year on lower oil and gas prices compared with the first three months of 2022, when Russia’s invasion of […]
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Stakeholders demand establishment of 18 modular refineries
*Unveiling of the Network on Organised Crimes in Nigeria and the Gulf of Guinea, held in Port Harcourt – To mitigate organized crimes– Buhari affirms Nigeria’s commitment to tackling crime in GoG Mkpoikana Udoma Port […]
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TotalEnergies urges rejection of climate resolution submitted by shareholders
Paris — French oil major TotalEnergies on Friday urged shareholders to reject an AGM resolution seeking accelerated cuts under the French oil major’s greenhouse gas emission reduction programme. The resolution was submitted to the May […]