Venture Global wins arbitration case against Shell
Venture Global has won a legal battle with Shell over its failure to deliver liquefied natural gas under long-term contracts from the Calcasieu Pass plant, Louisiana, starting in 2023. Venture…
Oil Prices Steady in Early Asian Trading After Dropping on Tuesday
Oil prices were trading relatively flat in early Asian trading on Wednesday, following losses in the previous session as traders weighed signs of slowing U.S. demand and awaited inventory data…
API Data Shows Surprise Crude Build Despite Draw Expectations
The American Petroleum Institute (API) estimated that crude oil inventories in the United States rose this week, growing by an additional 1.5 million barrels in the week ending August 8.…
Cenovus, Indigenous Groups Circle MEG Energy in Possible Joint Bid
Cenovus Energy is in talks with a coalition of Canadian Indigenous groups to jointly acquire oil sands rival MEG Energy, Bloomberg reported Tuesday, citing people familiar with the matter. The…
EIA: Oil Prices Headed for Steep Slide as U.S. Output Peaks
Brent crude prices are on track for a sharp decline in the coming months, with the U.S. Energy Information Administration (EIA) now forecasting prices to fall from $71 per barrel…
OPEC+ July Oil Output Was Lower Than 411,000 Bpd Planned Hike
The OPEC+ producers raised their combined crude oil production by 335,000 barrels per day (bpd) in July, below the 411,000 bpd output hike eight of the 22 producers have pledged…
TotalEnergies Prepares Drilling Campaign Offshore South Africa
TotalEnergies is proposing to drill up to 7 exploration wells offshore South Africa, in the Orange Basin straddling South African and Namibian waters in southwest Africa. With the planned campaign…
Norway’s $1.9 Trillion Oil Fund Cuts Stakes in Energy Supermajors
The world’s biggest sovereign wealth fund, Norway’s $1.9 trillion oil fund, cut its equity stakes in the biggest international oil and gas companies in the first half of the year…
Sinochem Expands Global Reach with First Middle East Crude Delivery
Sinochem has delivered its first cargo of Middle East crude as the Chinese state-owned energy and chemicals giant looks to boost its oil trading business in Asia, Reuters reported on…
Indonesia Shifts Coal Export Strategy As Demand Lags
The world’s biggest coal exporter, Indonesia, is looking to diversify in more Asian markets as it faces declining import demand from the top regional – and global – buyers, China…
