CDN and International News

(Reuters) – Exxon Mobil  has pulled out of the race to buy half of Galp Energia’s  stake in a large oil discovery in Namibia that has attracted interest from top energy companies, sources with knowledge of the matter said. More than 12 oil companies including Exxon, Shell and Brazil’s national oil company Petrobras had expressed interest in Galp’s 40% stake …

Exxon Withdraws From Race to Buy Stake in Namibia Oil Block From Galp Read More »

Norway’s annual offshore exploration licensing round in mature areas attracted bids from 21 petroleum firms, including Shell, Aker BP and Equinor, the country’s oil and energy ministry said on Friday. “We need further exploration to make new discoveries which in turn pave the way for investments to maintain production,” Energy Minister Terje Aasland said in a …

Norway Oil and Gas Exploration Round Attracts Bids From 21 Firms Read More »

(Reuters) – Venezuela’s August oil exports hit their highest in more than four years, according to shipping data, fueled by expanded shipments to China, the U.S. and Europe as the risk of fresh U.S. sanctions grew amid an electoral dispute. The U.S. Treasury Department last year granted a broad license allowing Venezuela to freely export …

Venezuela’s Oil Exports Climb to Four-Year High in August Read More »

By Clyde Russell (Reuters) – The response of crude oil markets to a series of developments this week shows how the bearish mindset is dominating the narrative. News that should be positive for oil prices is largely discounted and ignored, while factors that add to negative sentiment are embraced and reflected in price movements. Global …

COMMENTARY: Crude Oil Bears Run Rampant as Bullish News Ignored Read More »