Brought to you by Quest Offshore & Southern Cone Consultants
(Reuters) - Oil prices fell about 2% on Thursday as talks to resurrect a nuclear deal with Iran entered their final stages and could unlock more crude supplies, but losses were limited by tension between top energy exporter Russia and the West over Ukraine. "(The) oil market is locked in a tug of war between... Continue Reading →
(Reuters) - At the risk of being dropped from Texas pension funds, BlackRock Inc (BLK.N) has ramped up its message that the world's largest asset manager is a friend of the oil and gas industries. As a large and long-term investor in fossil fuel companies, "we want to see these companies succeed and prosper," BlackRock executives wrote... Continue Reading →
The National Petroleum Agency (ANP) announced the areas that will be offered in the 3rd Cycle of the Permanent Offer, scheduled for April 13. The list was defined this week during a meeting of the Special Bidding Commission (SBC) of the regulatory body. This time, the Campos Basin will not be present in the bidding.... Continue Reading →
(EV) Global oil markets are reacting to news from Eastern Europe that Russia has retracted troops from the Ukrainian border. However, price relief may be short-lived as bullish factors remain, reckons consultancy Rystad Energy. In a classic knee-jerk reaction, oil markets are losing ground on news of a Russian de-escalation on the Ukrainian border, Rystad... Continue Reading →
(Reuters) - An upward revision in historical oil demand by the International Energy Agency in its monthly report points to a tighter global market than the West's energy watchdog had previously estimated. "Our balances are now more in line with observed market fundamentals, which underpin the view of traders. We believe the tighter balance for... Continue Reading →
(Reuters) - European banks are providing billions of dollars of funding to expand oil and gas production, a report on Monday showed, despite International Energy Agency guidance against new facilities in order to slow global warming. Last year, 25 of the region's leading banks collectively provided $55 billion to energy companies planning to expand oil... Continue Reading →
(Reuters) - Oil prices ended 3% higher on Friday at fresh seven-year highs as escalating fears of an invasion of Ukraine by Russia, a top energy producer, added to concerns over tight global crude supplies. Russia has massed enough troops near Ukraine to launch a major invasion, Washington said, as it urged all U.S. citizens... Continue Reading →
(Rigzone) The world’s oil supermajors are pumping out cash as if crude was already trading at $100 a barrel. BP Plc, Shell Plc, TotalEnergies SE, Exxon Mobil Corp. and Chevron Corp. just generated the highest free cash flow since the start of 2008 -- when oil first climbed above $100 a barrel. Crude isn’t that... Continue Reading →
(Reuters) - Oil prices were steady on Thursday as markets weighed the possibility of an aggressive and unforecast rate hike for a steeper rise in energy demand. After rising more than 1% in early trade, Brent crude futures settled down 14 cents, or 0.2%, at $91.41 a barrel. U.S. Texas Intermediate crude , which rose... Continue Reading →
(Bloomberg) — U.S. oil production will grow even more than the government previously expected as a scorching price rally drives producers to boost drilling. Oil output will average 12.6 million barrels a day in 2023, an increase from its previous estimate of 12.41 million, according to Energy Information Administration data. The current annual all-time high of... Continue Reading →
Brazil Energy Insight 