Oil fell by more than 1.5% on Monday, pressured by expectations of weaker global demand and by U.S. dollar strength ahead of possible large increases to interest rates, though supply worries limited the decline.Central banks around the world…
EnQuest urged Britain under new premier Liz Truss to offer investment incentives to North Sea oil and gas companies in order to help the country secure its domestic energy supplies.Amjad Bseisu, CEO of the North Sea-focused oil producer, said…
Oil prices slipped on Friday after two days of gains and are heading for weekly losses as a strong dollar and worries about a global economic slowdown weigh.Brent crude futures were down 97 cents, or 1%, at $95.62 a barrel by 0826 GMT. U.S. West Texas Intermediate crude was at $89…
A second shipment of crude from a U.S. Gulf of Mexico offshore field has sailed for Germany, according to vessel tracking data and trade sources on Tuesday, as European refiners test potential replacements for Russian oil.Europe is aiming to…
Russia increased pressure on investors in its two Pacific energy projects which once helped Moscow rebuild its economy, blaming ExxonMobil for falling oil output at Sakhalin-1 and giving shareholders of Sakhalin-2 a month to claim their stakes…
ConocoPhillips on Thursday raised its shareholder payout target by 50% after the largest U.S. independent oil producer beat Wall Street's earnings estimates on surging energy prices.Oil and gas prices have skyrocketed with Western sanctions…
OPEC+ is set to raise its oil output goal by 100,000 barrels per day, an amount analysts said was an insult to U.S. President Joe Biden after his trip to Saudi Arabia to ask the producer group's leader to pump more to help the United States and the global economy…
Oil prices are proving resilient to global economic recession fears and have outperformed major equity indices and the U.S. dollar so far this year as Western sanctions on Russia further limit supplies to an already tight market.The two major…
The two largest U.S. oil companies, Exxon Mobil Corp and Chevron Corp, posted record revenue on Friday, bolstered by surging crude oil and natural gas prices and following similar results for European majors a day earlier.The U.S. pair, along with UK-based Shell and France's TotalEnergies…
China's CNOOC Ltd has tapped commercial flows of oil and gas from a shale exploration well in the South China Sea, marking the first successfully drilled shale oil well offshore China, state media reported on Thursday.Exploration well Weiye-1…
Portuguese oil and gas company Galp Energia reported a 90% jump in adjusted second-quarter profit on Monday, citing soaring oil prices and a sharp increase in its refining margin.Rapid recovery in demand after pandemic lockdowns and a surge…
The Swiss agency in charge of sanctions said it was up to the Swiss government to decide whether to adopt a tweak to EU sanctions that eases shipments of oil from Russian state-owned firms Rosneft and Gazprom to third countries.Purchases of…
Oil fell on Monday, reversing earlier gains but continuing a recent losing streak, on concerns that an expected increase in interest rates in the U.S., the world's biggest oil user, may limit fuel demand growth.Brent crude LCOc1 futures for September settlement dropped 48 cents…
ConocoPhillips is exploring a sale of its stake in the Ursa platform and Princess subsea well in the Gulf of Mexico, people familiar with the matter said on Wednesday, in what would mark its exit from deepwater energy production off the U.S…
Brazilian oil company Petrobras' management approved on Thursday the sale of its entire stake in the Golfinho and Camarupim deepwater oil fields for up to $75 million to Norway's BW Energy Ltd.The sale is part of Petrobras' strategy to divest assets and focus on more profitable operations…