Companies

EIA reported Wednesday that crude supplies fell by 2.2 million barrels for the week ended May 4.

Total has spent $90 million to help develop the offshore field and won’t be compensated before production begins.

Glencore and QIA have now agreed to dissolve their partnership.

The exclusivity period to discuss the sale contract would go through May 31.

Rosneft was hit hard by U.S. sanctions on Russia over Moscow’s annexation of Crimea and incursion in east Ukraine.

The final investment decision for the realization of this giant investment. which will exceed $3 billion. will be made in 2019.

Rosneft continues to consider China a key market.

MENA countries need to create 25 million new jobs over the next five years.

Saudi prices set the trend for Iranian. Kuwaiti and Iraqi prices. affecting more than 12 million bpd of oil bound for Asia.

Brazil will receive bids for blocks at its coveted presalt region in June and Mexico plans to announce results in September from two onshore rounds.