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Petroleum giant Petrobras announced Thursday the discovery of natural gas deposits in Colombia that could double the South American country’s known reserves even as it seeks to transition away from hydrocarbons. But it also coincides with a government drive to stop extracting fossil fuels as it transitions to a low-carbon …

Global stocks dipped as European and Asian share indexes broadly retreated on Thursday, while oil prices rose further as markets weighed the risk of a widening Middle East conflict. Euro zone stocks were last down 0.8 per cent, as investors digested weak business activity survey data from the bloc, while …

Germany hasn’t decided yet if it would support the EU’s plans to officially introduce tariffs on electric vehicles imported from China, the chief economic adviser of German Chancellor Olaf Scholz told Bloomberg TV on Tuesday. The EU earlier this year imposed provisional tariffs of up to 36% on EVs imported …

Nigeria’s government is set to approve within days the proposed $1.3-billion sale of ExxonMobil’s shallow water assets to local firm Seplat, Nigerian President Bola Tinubu said on Tuesday. The U.S. supermajor announced two years ago its intention to sell its shallow water business in Nigeria to Seplat, the biggest Nigerian …

Following a year of negotiations, Abu Dhabi’s oil company ADNOC has agreed to buy Germany’s chemicals giant Covestro in a deal worth $16.3 billion (14.7 billion euros) including debt, the German group said on Tuesday. ADNOC will make a takeover offer at $68.86 (62.00 euros) per Covestro share, which is …

Oil prices jumped by over a dollar on Wednesday due to rising concerns Middle East tensions could escalate, potentially disrupting crude output from the region, following Iran’s biggest ever military blow against Israel. Brent futures leapt $1, or 1.36%, to $74.56 a barrel, while U.S. West Texas Intermediate (WTI) crude …

Kazakhstan is negotiating an increase in natural gas exports to China including via a new pipeline, Bloomberg has reported, noting this would put Kazakhstan in a competition with Turkmenistan and Russia. “Despite reports of an economic slowdown in China, the demand for gas continues to grow,” Sanzhar Zharkeshov, chief executive …

TotalEnergies is preparing to make a $10-billion-plus final investment decision for a massive oil and gas development project offshore Suriname, as the French giant eyes Exxon’s success in maritime neighbor Guyana, Reuters reported on Monday, exclusively, citing unnamed sources. Earlier this month, TotalEnergies announced the launch of development studies for …

Japan’s liquefied natural gas buyers — among the world’s biggest — are struggling to ensure supply contracts are flexible enough, and need the government to help negotiate better terms, according to the head of an industry lobby group. So-called destination clauses that limit the on-selling of shipments make it harder …

After last week’s deal on the leadership of the Central Bank, Libya is set to resume crude oil production on October 1, Italian news agency Agenzia Nova reported on Monday, citing Libyan parliamentary sources. Crude production at most Libyan oilfields has been suspended for over a month after the country’s …