oil & gas industry

The IEA sliced nearly 400,000 barrels a day from assessments of consumption growth for the final three months of 2023.

“Our strategic review is ongoing and we are exploring several options including divestment,” says Shell.

The cut may support prices in the short term, but the broad market dynamics remain practically unchanged: Morgan Stanley.

The licenses come with the Iving and Evra discoveries and are located in the Utsira High area.

Oil futures in New York surged to a 10-month high and topped US$50 ($65.89) a barrel on Tuesday after the deal by OPEC+.

As OPEC+ ministers gather virtually this week, the city that traditionally hosts their meetings will be locked down.

 Many of these contracts are multi-year extensions of UGL’s pre-existing contracts such as providing maintenance, projects and shutdown services for GLNG Operations Pty Ltd for the Queensland Curtis Island facility, which is a liquefaction plant th

With signs that oil supply and demand are moving into balance as the world emerges from the COVID-19 pandemic, Pictet Wealth Management has revised upward its year-end price target for Brent oil.

Commodity investors will get critical insights into energy, metals and crop markets this week against a backdrop of better-than-expected economic data and countervailing concern over the jump in coronavirus infections.

While Brent oil has doubled since April as OPEC+ reduced output to tackle a glut, surging infections across the globe have increased fears of a prolonged hit to demand and kept a lid on further gains.