Ithaca Energy has agreed to acquire Suncor Energy's interests in the Terra Nova and White Rose oil assets offshore eastern Canada for $860 million in cash, marking its first international acquisition outside the UK.The deal includes a 48% operated interest in Terra Nova…
The number of liquefied natural gas cargoes exiting the Strait of Hormuz rose in September to its highest monthly level since the US-Israeli war on Iran began, data from analytics firms show, despite persistent security worries and uncertainty…
ConocoPhillips is evaluating a potential sale of its Norway business and the Teesside asset in the UK after receiving an unsolicited offer, the US oil and gas producer said on Thursday.The company did not disclose the identity of the potential buyer or provide any financial details of the offer…
Oil prices rose for a second successive session on Tuesday as lingering concern over Middle East supply disruption brought about by the US-Israeli war on Iran outweighed signs of recovering crude exports from the region.Brent crude futures for November LCOc1 rose $1…
More QatarEnergy-linked liquefied natural gas vessels, laden and in ballast, have transited the Strait of Hormuz in the last week despite the US-Iran conflict.In August, Kpler data showed no visible transits by Qatar-linked LNG vessels or vessels carrying cargoes from the Ras Laffan gas terminal…
The world's biggest energy companies are poised to deliver another quarter of bumper profits, fuelled by record refining margins. Flush with cash, Big Oil now needs to chart a course for future growth in a world reshaped by the Middle East crisis…
Ship-to-ship transfers in the Gulf of Oman for Middle Eastern oil from inside the Strait of Hormuz have reached their limits after Saudi Arabia diverted exports from the Red Sea, adding to shipments from other producers, trade sources and analysts said…
Crude oil flows out of the Strait of Hormuz reached 33.7 million barrels so far in the week starting September 20, preliminary ship-tracking data from Kpler showed on Friday, putting exports roughly on track with the previous week's levels.The traffic comprised 19 tankers…
Saudi oil giant Aramco plans to reorganise its business to create a new gas division with an eye on possible listings of business units in the future to raise cash, two sources with knowledge of the matter told Reuters.The move is in line with…
South Korea aims to reduce its reliance on crude oil from the Middle East to 50% by 2035, as Asia's fourth-biggest economy seeks to diversify energy supplies following the disruption caused by the Iran war, the Industry Ministry said on Wednesday…
Oil prices fell to a two-week low on Tuesday as prospects for Gulf supplies improved, with Iran signaling it could reopen the Strait of Hormuz within seven days and Saudi Arabia set to resume exports from its Red Sea port of Yanbu.The Brent crude futures LCOc1 November contract was down $2…
Brazilian state-run oil company Petrobras' analysis of oil discovered at the Morpho exploration well in the offshore Foz do Amazonas basin showed it to be 'very high quality' crude, an executive told Reuters on Monday.The crude found at the…
A new shuttling system is reshaping the Middle East oil market, as producers seek to keep exports flowing despite the escalating regional conflict. The question now is whether this complex, expensive process is a stopgap measure or the global energy market’s new normal…
A total of 17 commodity vessels transited the Strait of Hormuz on the weekend, down from 37 a week earlier, shipping data showed on Monday, as tension in the Gulf persisted with the US and Iran in stalemate.Visible traffic through the strait…
Oil prices fell 2% on Friday, extending losses for a third straight session as easing concerns over Saudi supply disruptions outweighed anxiety about a widening of conflict across the Middle East.Brent crude futures LCOc1 fell by $2.14, or 2%…