Tag Archives: Oil Price

Pakistan is preparing to launch its most unconventional offshore campaign yet in the form of a purpose-built artificial island in the Arabian Sea that will act as a fixed platform for deep exploration work. The project, led by Pakistan Petroleum Ltd (PPL), aligns with Islamabad’s renewed push to reverse years …

Russian Novatek, the owner and operator of Arctic LNG and Arctic LNG 2, is offering steep discounts to Chinese buyers of energy commodities to move its gas, Reuters has reported, citing unnamed sources. According to these sources, the Russian company has slashed prices by between 30% and 40% since August …

Exxon is now circling the same distressed prize Chevron has been eyeing: chunks of Lukoil’s global portfolio, suddenly up for grabs after Washington loosened the legal chokehold on the sanctioned Russian major. Multiple sources say Exxon is actively weighing options to acquire Lukoil assets in Kazakhstan, where both companies already …

Oil prices are set to further drop into next year from current levels amid a large surplus on the market, with the U.S. benchmark WTI Crude expected to average $53 per barrel in 2026, according to Goldman Sachs. Early on Tuesday, WTI Crude was trading just above $60 per barrel, …

China stockpiled crude oil at elevated rates in October, at a daily rate of some 690,000 barrels, up from 570,000 barrels daily in September, Reuters’ Clyde Russell reported today, citing calculations derived from official Beijing data. Refinery throughput in October averaged 14.94 million barrels daily, the official data showed, while …

LNG carrier rates for the Atlantic route between the U.S. and Europe have surged close to a two-year high on strong demand for American liquefied gas as Europe fills up its storage ahead of winter. The spot rate hit $98,250 per day on Monday, Bloomberg reports, which was a 19% …

Global LNG supply is rising and growth will accelerate in the next two years as major projects in the top exporters, the United States and China, come on stream. Supply growth is set to outpace the global LNG demand increase, leading to an oversupplied market from the end of 2026 …

In recent years, a growing number of fossil fuel lobbyists have attended the annual United Nations COP climate summits. Previously, host country leaders and event organisers have justified the attendance of these lobbyists by saying that they play an integral role in supporting the green transition, and that their cooperation …

TotalEnergies is expanding its power business in Europe with a multi-billion all-stock deal to buy 50% of the flexible power generation assets of Czech firm EPH. The French supermajor on Monday announced a $5.9-billion (5.1 billion euros) all-stock transaction with Energetický a pr?myslový holding, a.s. (EPH) to acquire 50% of …

Ukraine this weekend signed agreements to receive natural gas from U.S. LNG cargoes arriving in Greece as it aims to secure gas supply for the winter amid intensified Russian attacks on Ukrainian energy infrastructure. During a visit of Ukrainian President Volodymyr Zelenskyy in Athens, Ukraine’s national oil and gas firm …