Tensions continue to mount as a five-tanker Iranian fleet sails to Venezuela loaded with an estimated 60 million gallons of gasoline in defiance of US sanctions.
Analysts say the oil was bought with Venezuelan gold, an allegation which Iran denies.
The...
The growing activity offshore the South American country of Guyana is likely to hit peak in the latter part of this decade and will require large shorebase support services which is something the new oil producing nation will have...
(Reuters) - Oil prices tumbled, and global equity markets wavered on Friday as China’s move to impose a new security law on Hong Kong further strained U.S.-Sino relations and clouded economic recovery prospects.
News that China also dropped its annual...
(Reuters) - The Canadian dollar weakened against its U.S. counterpart on Friday as oil prices fell and domestic data showed a record decline in retail sales, with the loonie giving back some of this week’s rally.
At 9:09 a.m. (1309...
Oil futures rose this week pushing both Brent and WTI contracts to around 2 ½ month peaks as new oil producer Guyana lifted its second 1 million barrels of crude from the ExxonMobil-operated Stabroek Block where production began last...
The reduction of greenhouse gases is one of the greatest challenges facing operators and service companies in the oil industry. But the task is certainly not an insurmountable one for Dutch floater specialist, SBM Offshore. Over the past few...
Qatar Petroleum will invite Exxon, Chevron and ConocoPhillips for talks to form a joint venture to expand gas production at the country's North Field, Its Energy Minister and QP Chief Saad Al-Kaabi told Bloomberg.
According to reports, Qatar wants to...
The Venezuelan military will escort Iranian tankers delivering much-needed petrol to the country to prevent any attempt by the US to stop them, BBC said in a report on Thursday.
Five vessels are on the high seas and are due...
(Reuters) The Trump administration has granted royalty relief to several drilling companies producing oil and gas on federal lands in recent weeks, according to a government database, as the industry seeks help weathering low energy prices.
The move shows drillers...
(Reuters) – Shell has temporarily evacuated foreign staff, numbering around 60, from Iraq’s Basra Gas Company for security reasons and flew them out of the country but production was not disrupted, officials and company executives said on Thursday.
The staff...
