Oil advanced as expectations for shrinking American crude and gasoline stockpiles added to signals that a demand recovery may be on the horizon in the U.S. and China. Futures edged 0.4% higher in New York on Tuesday, tracking a move higher in U.S. equities to fresh records. U.S. manufacturing expanded …

Iraq is seeking exemptions from OPEC+ cuts in Q1 of 2021 and has discussed the issue with key producers in the 23-member coalition during three consecutive meetings, state-owned al-Sabaah newspaper reported Sept. 1, citing the country’s oil minister. Ihsan Ismaael said Iraq will continue to trim its output in October …

The world’s largest oilfield services provider, Schlumberger, is selling its North American fracking business to Liberty Oilfield Services for a minority stake in a new combined company after the oil price crash crushed the U.S. shale patch’s fracking activity. Schlumberger has agreed to combine its onshore hydraulic fracturing business in …

In January 2017, Rex Tillerson left to join the Trump administration as Secretary of State (and was permitted to sell more than $50 million in directly held Exxon stock tax free). His replacement, CEO Darren Woods — now nearly four years into the job — has presided over a 50% …

Turkey has extended until mid-September a controversial east Mediterranean gas exploration mission that has put it at odds with Greece and the rest of the EU. Ankara deployed the Oruc Reis research vessel and warships to the disputed waters on August 10 and prolonged the mission twice. Greece responded by …

Japan will dispatch a third relief team to Mauritius on Wednesday to help the island nation’s response to an oil leak from a Japanese freighter that ran aground in July. The six-member team will help conduct detailed investigations of mangroves, coral reefs, wildlife and seawater quality to assess the impact …

Samsung Heavy Industries said Tuesday it obtained a detailed design approval from the US ship classification organization American Bureau of Shipping for its natural gas liquefaction cycle technology, the first in the shipbuilding industry. The shipbuilder said, upon the approval, it can save costs for the payment of technology fees …

Egyptian and Cypriot officials have intensified discussions over preparations for a joint gas pipeline project aimed at transforming Egypt into a regional energy trade hub, a government source revealed on Monday. According to the official, the joint scheme would see natural gas from the offshore Aphrodite gas field in Cyprus …

Oil prices gained on Tuesday, reversing overnight losses, as investors moved into risk assets and stayed away from the safe-haven U.S. dollar which hit multi-year lows. Brent crude LCOc1 futures climbed 47 cents, or 1%, to $45.75 a barrel at 0635 GMT. U.S. West Texas Intermediate (WTI) crude CLc1 futures …

Business and government representatives and researchers from Russia and Germany want to establish a bilateral cooperation on hydrogen, the German-Russian Resources Forum (DRRF) announced after a meeting on 28 August. “Germany was, is and will remain dependent on energy imports, and hydrogen will play a central role in energy and …