Tag Archives: Oil Price

The price of Russia’s ESPO crude blend, the flagship grade exported from the Russian Far East, slumped to the lowest level since June 2024 and flipped to a discount to the international benchmark as demand from Chinese state-owned firms has weakened, trading sources told Reuters. Cargoes of ESPO for April …

Saudi Arabia, the world’s top crude oil exporter, is expected to slash the price of its oil loading for Asia in May to the lowest level in three months amid a slide in regional benchmarks, a Reuters survey of Asian refining and trading sources showed on Friday. Saudi oil giant …

Kuwait has approved a financing and liquidity law that will allow one of OPEC’s top producers to return to the debt market after eight years, with borrowing expected to fund projects to diversify its dependence on oil revenues. While the other OPEC Gulf heavyweights, Saudi Arabia and the United Arab …

Coal-fired power generation in the United States jumped at the start of the year, but no thanks to President Donald Trump’s push for “beautiful, clean” coal. The coldest winter in six years boosted electricity demand, while the surge in natural gas prices made gas-fired generation more expensive than coal. As …

On the outskirts of Baku, the smell of sulfur hangs thick in the air. Flares from oil refineries light up the night sky, a constant reminder of the industry that has dominated Azerbaijan for over a century. The country has vast, untapped potential for renewables, particularly wind and solar, which …

British Oil & Gas giant BP Plc (NYSE:BP) has received final approval by the Iraqi government for the redevelopment of the giant Kirkuk oil fields, with an initial plan to produce 3B boe. BP will develop Iraq’s Kirkuk oil and gas fields based on a profit-sharing model, Iraqi oil ministry …

U.S. supermajor Chevron has expressed interest in oil and gas exploration in two additional offshore blocks south of the Greek island of Crete, Greece’s Ministry of Energy and Environment said on Wednesday. Earlier this year, Greece said that Chevron had expressed interest in exploring the area southwest of the Peloponnese …

Europe’s benchmark natural gas prices fell on Wednesday for a second consecutive day amid milder weather and increasing LNG supply as Chinese demand weakens. Dutch TTF Natural Gas Futures, the benchmark for Europe’s gas trading, fell by 1.5% at $44.19 (40.92 euros) per megawatt-hour (MWh) as of 9:18 a.m. in …

The US could have boots on the ground in Ukraine — though not in the way many might expect. During a recent phone call between US President Donald Trump and Ukrainian President Volodymyr Zelenskyy, where Ukraine agreed to pause attacks on Russia’s energy infrastructure for 30 days, the idea emerged …

Indian state-owned Oil and Natural Gas Corporation Limited (ONGC), the biggest oil and gas explorer and producer in the country, plans to diversify in refining, petrochemicals, LNG trading, and renewable energy as it expects lower oil prices amid a looming crude supply glut. “Globally, we are heading to a glut …