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Oil climbed for a third session as investors weighed President Donald Trump’s next moves to penalize Russia for its war in Ukraine, raising concerns over crude supplies from the region. West Texas Intermediate rose 1.7% to settle below $64 a barrel, the highest settlement price in a week. The commodity had a knee-jerk reaction after...
Russia’s seaborne crude oil shipments bounced back to a seven-week high in August, with China stepping up purchases even as flows to India slowed sharply following US sanctions pressure.According to tanker-tracking data compiled by Bloomberg, average weekly crude exports from Russian ports rose by 770,000 barrels per day (bpd) to 3.49 million bpd in the...
The Trump administration is withholding approval for several Western oil majors seeking to operate in Venezuela, ramping up pressure on Nicolás Maduro’s government even as Chevron Corp. is allowed to work there, according to people familiar with the matter. The pause is focused on non-U.S. firms, leaving companies including Spain’s Repsol SA, Italy’s Eni SpA...
Ukraine’s state-owned Naftogaz Group has signed an agreement for the supply of natural gas from the State Oil Company of Azerbaijan Republic (SOCAR) via the Transbalkan route. “For the first time, a test shipment of gas is being delivered through the Transbalkan route along the Bulgaria-Romania-Ukraine corridor”, Naftogaz said in a statement online. It did...
Iraq’s electricity grid lost around 15% of its generation capacity after gas supplies from neighboring Iran were more than halved on Tuesday, highlighting the country’s vulnerability to energy shocks despite its oil wealth. Iranian gas deliveries currently stand at 25 million cubic meters per day, less than half the 55 million cubic meters agreed under...
The Trump administration has eased recent export limits on a critical petroleum product that’s used to make plastics — a shift that represents a modest pullback on curbs used as leverage in trade negotiations with China.Under the change, Enterprise Products Partners LP and Energy Transfer LP are being allowed to load that gas, known as...
Oil edged higher after a volatile session as President Donald Trump fanned speculation that the US may join the Middle East conflict.West Texas Intermediate rose 0.4% to settle above $75 a barrel, the highest closing price since January. Markets swung between gains and losses in a $3 range amid sharp reactions to developments in the...
Russia said its overnight missile and drone barrage struck the large Kremenchuk oil refinery in central Ukraine, which was previously targeted by Kremlin forces in 2022.“A group strike with precision-guided air and sea-based weapons, as well as unmanned aerial vehicles” hit the facility in the Poltava region, Russia’s defense ministry said in a Telegram statement.Acting...
Pakistan’s oil and gas sector sees significant progress, Federal Minister for Finance Senator Muhammad Aurangzeb. #budget #2025-2026 10 June 2025 Federal Minister for Finance Senator Muhammad Aurangzeb on Tuesday said that over the past few years that they have made significant progress in Pakistan’s oil and gas sector through diversification and strategically targeted reforms.DronesDuring the...
ADNOC Drilling Company PJSC announced, in a release sent to Rigzone on Thursday, that it has signed an agreement to acquire a 70 percent stake in SLB’s land drilling rigs business in Kuwait and Oman. ADNOC outlined in the release that the business comprises “eight fully operational land rigs under contract with the respective national...
