Egypt is Making a $6 Billion Bet on Crude Oil
Egypt is rolling the dice on black gold once again, announcing plans to drill 480 new exploratory oil wells over the next five years—an ambitious $5.7 billion wager that the…
Occidental’s Hollub Calls for Steady Oil—Then a Surge
Oil may be having a rough week, but Occidental Petroleum’s Vicki Hollub isn’t panicking. The CEO told the Energy Intelligence Forum in London that crude prices are likely to hover…
Oil Tankers Avoid Sanctioned China Port
Three supertankers that were headed for Rizhao port are now looking for alternative berths, following US sanctions on the terminal that handles around a 10th of China’s oil imports. Two…
Russian Crude and Fuel Export Revenues Continue to Fall
Russia’s export revenue from crude and fuels dipped in September again as a slump in refined product shipments couldn’t offset an increase in crude oil exports, data from the International…
TotalEnergies Sees Non-OPEC Supply Beginning to Drop at $60 Oil
Non-OPEC crude production will begin to decline at oil prices at $60 per barrel and lower, Patrick Pouyanne, the chief executive of supermajor TotalEnergies, said on Tuesday. “There is a…
IEA Warns of Larger Oil Glut Than Expected
Amid soaring supply and subdued demand, the expected global oil oversupply will be larger than previously anticipated, the International Energy Agency (IEA) said on Tuesday. In its monthly report, the…
Shell Invests in Gas Project Offshore Nigeria
Shell and its partner Sunlink Energies and Resources Limited have taken a final investment decision on the HI gas project offshore Nigeria, which will supply additional gas volumes to Nigeria…
Japan faces criticism over $5.2bn carbon capture strategy
Japan’s $5.2bn investment in carbon capture technology since 2014 has come under fire from environmental groups, which accuse the government of using public money to prolong fossil fuel use at…
Australian Mining Stocks Rise As Trump Eyes Rare Earth Projects
Australia-based companies with plans to advance rare earths projects in the United States saw their stocks soar on Tuesday as the Trump Administration continues to seek small equity stakes in…
Chinese Solar Stocks Soar as Beijing Cracks Down on Overcapacity
Shares of the top Chinese solar manufacturers surged in Shanghai on Tuesday, following a state media report that China’s authorities plan stricter controls on the bloated manufacturing capacity that has…
