🛢 Sanctions on the horizon cast a shadow on Moscow’s oil market.
Europe’s sanctions on Russia are about six weeks away, and the impending shock could be a devastating blow. United States officials are ringing the alarm: the EU ban on Russian crude oil imports will bring into question whether there are enough vessels to make up for the loss.
Argentina is gearing up to connect its Vaca Muerta shale play with the Punta Colorada port through a new pipeline, enabling supertankers to load crude oil.
Wildfires in northern Alberta are causing some oil sands operations to take precautions.
Oil prices fluctuated within a tight range on Friday, as investors weighed mixed signals from the world's top oil consumers, China and the U.S. Brent crude slipped 13 cents to $83.75 per barrel, while West Texas Intermediate (WTI) fell 4 cents to $79.22.
Former President Trump is collaborating with the oil industry to overturn President Biden's fossil fuel regulations if he wins in 2024.
In a bid to further pressure Russia over its war in Ukraine, the U.S. Senate has unanimously passed a bill to prohibit Russian uranium imports.
China and Russia recently committed to maintaining stability in their industrial supply chains.
in a recent development, BlackRock, the world's largest asset manager, is challenging Texas' move to pull out about $8.5 billion from the Texas Permanent School Fund (PSF), alleging it's a boycott against energy companies.
The world's top oil forecasters, OPEC and the International Energy Agency (IEA), are at odds over future oil demand, creating uncertainty for traders and investors.
Russia is aiming to increase its share of the liquefied natural gas (LNG) market to 20% by 2030, but its plans face challenges due to sanctions and a shortage of ice-class LNG tankers.
BP has decided to halt all shipments through the Red Sea due to recent attacks on trade vessels by Houthi rebels in Yemen.
The OPEC oil cartel has expressed concerns in leaked letters about the potential for a "fossil fuels phase out" being discussed at Cop28, the UN climate summit.
OPEC+ oil producers have agreed to voluntary output cuts totaling approximately 2.2 million barrels per day (bpd) for early next year, with Saudi Arabia continuing its existing voluntary cut.
Estonia's foreign minister, Margus Tsahkna, has accused Moscow of orchestrating a "blatant hybrid attack" by facilitating a surge in migrants from Africa and the Middle East arriving at the EU's eastern frontier.
Venezuela is holding a referendum on whether to establish a new state in the disputed Essequibo territory, which has significant oil reserves and has been a source of tension with Guyana for over a century.
The OPEC+ coalition, comprising 23 oil-producing nations, has postponed a meeting to finalize output levels for 2024 by four days to November 30.
Oil prices dipped ahead of the scheduled OPEC+ meeting where discussions about potential supply cuts were expected.
Finnish President Sauli Niinisto has stated that it has become "impossible" to deport asylum seekers who do not meet the criteria for protection.
Eight years after the Paris Agreement, the oil industry is thriving, with rising profits and record production levels, especially in the United States.
China Petroleum & Chemical Corporation (Sinopec) has achieved the first oil and gas flows from Asia's deepest onshore well, the Yuejin 3-3XC well in the Tarim Basin, Xinjiang Uygur autonomous region.
Oil prices rose by approximately 2% as Iraq expressed support for OPEC+'s oil production cuts ahead of an upcoming meeting.
A United Nations-backed report reveals that major fossil fuel-producing countries, including the United States, Russia, and Saudi Arabia, are on course to produce twice the amount of fossil fuels that exceed critical global warming thresholds by the end of this decade.
Warren Buffett-backed Occidental Petroleum (OXY) is set to report its third-quarter earnings, with analysts expecting a more than 60% drop in quarterly profit.
Chevron and Exxon are making significant acquisitions in the oil and gas industry despite growing global momentum toward clean energy.
Chevron has agreed to purchase U.S. oil and gas producer Hess in an all-stock deal valued at $53 billion.
The Biden administration has eased sanctions on Venezuela, specifically in the oil, gas, and gold sectors, following an agreement between the government of President Nicolás Maduro and the U.S.-backed opposition to hold competitive presidential elections next year.
After months of secrecy surrounding President Biden's decision to provide ATACMS missiles to Ukraine, it has been revealed that the missiles are now in Ukrainian possession and have been used in attacks on Russian military facilities.
The Biden administration has proposed up to three oil and gas lease sales in the Gulf of Mexico but none in Alaska, aiming to strike a balance between energy production and climate concerns.
Russia has accused Ukraine's Western allies of planning and conducting a missile strike on the Black Sea Fleet's headquarters in Crimea, alleging that the attack was coordinated with the assistance of American and British security agencies, NATO satellites, and reconnaissance planes.
The UK has given the green light for Equinor's North Sea Rosebank oil and gas project, emphasizing energy security despite opposition from environmentalists.
Oil traders have cut their net long positions in Brent and WTI due to concerns over China's economy.