News

*North Sea Brent oil Tokyo/Singapore — Oil benchmark Brent fell on Wednesday, reversing some of the gains made after Saudi Arabia and Russia announced they would extend and deepen output cuts into August, as concerns […]

*Uganda National Oil Co CEO Proscovia Nabbanja Kampala — Uganda is seeking new funding for its planned crude oil refinery after negotiations with a consortium that included a unit of U.S. firm General Electric lapsed […]

*An employee counts 100 Chinese yuan banknotes at a bank in Hefei, Anhui province, January 21, 2013. REUTERS/Stringer/File Photo/File Photo New Delhi — Indian refiners have begun paying for some oil imports from Russia in […]

*Fuel dispenser London — Britain’s antitrust regulator said on Monday drivers have been paying more for fuel since 2019 due to weakening competition between retailers, publishing the results of a year-long investigation into competition in […]

*OPEC+ barrel stock Riyadh — Saudi Arabia is expected to extend its unilateral 1 MMbpd oil production cut for at least another month, as global crude markets remain pressured by economic fears. Riyadh surprised oil […]

Sinopec’s first green hydrogen facility has the capacity to produce 20,000 metric tons of hydrogen a year, using solar power to electrolyse water, the company said in a statement. The plant, in Kuqa city in […]

London — Shell’s head of renewable generation Thomas Brostrom is leaving the company, a spokesperson said on Friday, weeks after CEO Wael Sawan scaled back its energy transition plans. Brostrom joined Shell from offshore wind […]

Launceston, Australia — The production cuts by OPEC+ may aim to keep crude prices high enough to satisfy the exporter group, but they are also starting to drive some unusual dynamics in the broader oil […]