Corallian Energy attempted and failed to sell Shell and One-Dyas the “Jackdaw South” prospect ahead of the main development being sanctioned later this year.
Oil prices dipped as traders weighed weaker fuel demand in India against optimism over the global economic recovery from the coronavirus pandemic.
Oil is heading for the biggest weekly gain since early March on optimism the recovery in demand from the Covid-19 pandemic is improving.
A price war may be looming in the global oil market as rising output from OPEC+ and the Middle East boosts the competitiveness of the region’s shipments, potentially forcing other suppliers to discount their barrels.
For those who had been tracking technical indicators of oil this month, the message was clear: Crude prices had risen too quickly.
Oil in New York dropped more than 5% as short-term demand concerns and a rising dollar collided to cause the biggest intraday drop since December.
Oil slid after U.S. crude inventories surged for a fourth week, further fueling the downbeat sentiment generated by the International Energy Agency describing global stockpiles as plentiful.
Oil markets aren’t on the verge of a new price supercycle as plentiful supplies mean any concerns of a shortfall are misguided, the International Energy Agency said.
OGUK report underlines need for ‘vital support’, says 30,000 job losses remains ‘reasonable estimate’
Oil and Gas UK (OGUK) has warned that the UK’s energy transition is at risk of stalling unless the industry receives “vital support” from government.
The oil price “fever” is expected to continue, at least in the short term, according to Rystad Energy after Brent Crude broke past $70 a barrel.
Brent oil erased gains as the market shrugged off an attack on the world’s largest crude terminal in Saudi Arabia.
OPEC+ decided to keep a tight limit on oil production next month, sending prices soaring in a market that had been expecting additional supply.
International oil companies (IOCs) could be on track for record free cash flow this year should Brent continue its rise, according to Wood Mackenzie.
While oil’s dizzying collapse is still fresh for many traders, rumblings are starting to emerge that by the end of next year prices could once again top $100 a barrel.
The CEO of NHV hopes the restoration of oil prices can help the beleaguered helicopter market “to a more sustainable situation”.
Oil in New York rose to the highest intraday level in more than a year as output curbs from top producers whittle down global inventories.
US oil majors ExxonMobil, Chevron and ConocoPhillips had their credit ratings lowered after S&P Global Ratings followed through on its recent warning and revised the industry’s risk profile due to climate change and weak earnings.
The oil price slipped below $58 a barrel as a recent rally fizzled with the Covid-19 pandemic continuing to weigh on the demand outlook and as one technical indicator signaled prices may have climbed too far, too fast.
North Sea operators including Shell, BP, EnQuest and Premier Oil have all seen their shares jump in light of the oil price rally.
The price of oil extended a rally from the highest level in more than a year on signs the global market is tightening and demand is improving.
The Brent oil price has reached its highest in 13 months, but experts say questions persist on whether activity in the UK North Sea will see a similar resurgence.
Shell snapped up the largest amount of North Sea oil in over a decade during the market’s main trading window for physical cargoes, underpinning signs of sharply tightening supplies.
Oil edged lower as the dollar strengthened, with the steam coming out of a rally that pushed crude to the highest level in 10 months.
Brent oil topped $55 a barrel for the first time since February as gains in broader markets added to investor optimism already buoyed by Saudi Arabia’s unilateral plan to cut output.
Oil advanced as shrinking U.S. crude inventories added to expectations of a tighter global supply outlook after Saudi Arabia surprised markets by pledging to slice production the next two months.