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By Erwin Seba Brent, WTI rise more than 1% Ukraine drone attacks hit tankers carrying Russian oil HOUSTON, Dec 1 (Reuters) – Oil prices rose more than 1% on Monday following drone attacks by Ukraine, the closure of Venezuelan airspace by the United States, and OPEC’s decision to leave output levels unchanged in the first …
Oil Climbs Over $1 a Barrel on OPEC Action, Ukraine Attack Read More »
By Olga Tanas Harbour Energy Plc, one of the largest independent oil and gas firms in the UK, expects to cut another 100 jobs after the government decided to keep a windfall tax on North Sea producers. The Labour government last week said it plans to retain the Energy Profits Levy — introduced by the …
Harbour Energy to Cut 100 UK Jobs After Windfall Tax Retained Read More »
Oil prices have been falling as the market faces the prospect of a growing surplus. This year is set to culminate in the first major glut since 2020. The International Energy Agency forecast in November that global supply will outweigh demand by 2.4 million barrels a day, and expects the gap to expand to a …
There’s Too Much Oil. Who Are the Winners and Losers? Read More »
By Joe Ryan Natural gas pipeline operator Targa Resources Corp. reached a deal to buy smaller rival Stakeholder Midstream for $1.25 billion in cash. The move expands Houston-based Targa’s ability to ship and store oil and gas in the Permian Basin, according to a statement Monday. The region has long been short on gas pipeline …
Targa to Buy Rival Permian Pipeline Operator for $1.25 Billion Read More »
By Reuters (Reuters) – A new mechanism adopted by OPEC+ to assess members’ maximum output capacity will ultimately help to stabilise markets and reward those who invest in production, Saudi Energy Minister Prince Abdulaziz bin Salman said on Monday. The OPEC+ group approved the mechanism to assess members’ maximum production capacity to be used for setting baselines from …
New OPEC+ Production Mechanism will Help Stabilise Markets, Saudi Energy Minister Says Read More »
Summary Companies One of three mooring points damaged, one offline Analysts estimate CPC exports halved Kazakhstan protests Ukraine strikes CPC exports had been seen rising (Reuters) – U.S. oil major Chevron said late on Sunday that loadings of its Tengizchevroil venture’s crude oil were continuing at the Russian port of Novorossiysk following a Ukrainian naval drone …
Chevron Says Oil Loadings Continue at Russia’s Black Sea CPC Terminal After Drone Attack Read More »
At first glance the decision by OPEC+ to leave oil output levels unchanged for the first quarter of next year could be viewed as confirmation the exporter group is concerned about a looming crude supply glut. It was widely expected that the eight members of OPEC+ undertaking voluntary oil output cuts would stick to their …
OPEC+ Sticks to its ‘All is Fine in Oil’ Mantra, But Uncertainty Rises: Russell Read More »
Russia’s foreign ministry said on Sunday that Ukrainian attacks on oil tankers and Caspian Pipeline Consortium (CPC) infrastructure in the Black Sea were “acts of terrorism” that threaten freedom of navigation in the region. The CPC, which includes Russian, Kazakh and U.S. shareholders, said it had halted operations after a mooring at its Russian terminal …
Russia Calls Ukrainian Strikes on CPC and Tankers ‘Acts of Terrorism’ Read More »
OPEC+ agreed to leave oil output levels unchanged for the first quarter of 2026 at its meetings on Sunday as the group slows down its push to regain market share amid fears of a looming supply glut. The meeting of OPEC+, which pumps half of the world’s oil, comes during a fresh U.S. effort to …
OPEC+ Holds Oil Output Steady, Agrees Capacity Mechanism Read More »
The Caspian Pipeline Consortium (CPC), which handles more than 1% of global oil, said on Saturday it halted operations after a mooring at its Black sea terminal was significantly damaged by a Ukrainian naval drones attack. “Further operation of mooring point 2 is not possible,” it said in a statement about one of three key …
CPC Says Oil Exports Halted, Equipment Heavily Damaged by Drones Read More »
