Tag Archives: Oil Price

The United States has extended a Treasury license that shields Venezuela-owned refiner CITGO Petroleum Corp from creditor actions through March 20, a move that preserves the company’s legal status while debt disputes continue, Reuters reported on Monday. The license prevents creditors from seizing Citgo’s U.S. assets as part of ongoing …

The global LNG market is expanding by 3% every year, growing at a faster pace than the overall natural gas market, Wael Sawan, chief executive officer of the world’s top LNG trader, Shell, said at an LNG conference in Doha, Qatar. Both supply and demand of LNG have surged in …

Equinor will sell all its assets in Argentina’s Vaca Muerta basin to Vista Energy in a cash and stock deal worth $1.1 billion, the Norwegian energy major said on Monday as it continues to high-grade its international portfolio. The deal includes Equinor’s 30% non-operated interest in the Bandurria Sur asset …

Russia’s natural gas exports via the TurkStream pipeline to Europe jumped by 10.3% in January from a year earlier, Reuters calculations showed on Monday, as Gazprom boosted supply via the only gas route left from Russia to the EU. Last month, Russian gas supply via TurkStream totaled 1.73 billion cubic …

Kuwait exported record volumes of very low sulfur fuel oil (VLSFO) in January after a key refinery restarted full operations following a fire-induced partial outage at the end of last year. One of the Gulf’s top crude oil exporters, which also vies to be a major fuel oil exporter, was …

Natural gas prices in the United States dropped by 17% in Asian trade on Monday, driven by forecasts for milder weather in the coming weeks. Data from the National Oceanic and Atmospheric Administration cited by Bloomberg suggests that while most of the U.S. remains in the grip of cold winter …

Over a decade since the Arab Spring and the civil war that followed, Libya has opened its doors back up to oil and gas exploration. Despite the ongoing political uncertainty, with Libya divided between two leaderships, the North African country has established a U.S.-Libya partnership and bilateral relations, as well …

OPEC+ confirmed its plans to extend the pause on crude oil production hikes to March this year, citing “healthy oil market fundamentals as reflected in low inventories.” In a press release late Sunday, OPEC+ said that “the 1.65 million barrels per day may be returned in part or in full …

The European Union’s plan to ban LNG imports from Russia will prompt a surge in demand for LNG carriers to the tune of 30 new vessels, a senior Vortexa analyst said ahead of the LNG Qatar gathering that starts today. According to Ashley Sherman, senior LNG analyst at the company, …

The OPEC+ group is expected to maintain its oil production policy unchanged this weekend and affirm a pause in output hikes in March even as Brent Crude prices hit $70 per barrel this week for the first time in five months, delegates from the alliance told Reuters on Friday. The …