oil-and-gas
Top StoriesOil Prices Fall to Around $90/bbl in Volatile Trade
Top StoriesEU Emergency Oil Stocks Still Low in July After IEA’s Joint Releases
Top StoriesUK North Sea Firm Ithaca Energy Plans London Listing
Top StoriesOil Steady as Positive Chinese Signals Counter Recession Fears
Exxon’s Russian Oil Output Collapsed After Rejecting Local Tanker Insurance – Sources
Date: October 17, 2022
HOUSTON/NEW DELHI (Reuters) – Oil output at the giant Exxon-led Sakhalin-1 Russian Pacific project collapsed following the U.S. major’s refusal to accept local insurance for tankers after Western insurers pulled out due to sanctions, several industry sources told Reuters. Western insurers withdrew cover from tankers operated by state-run Sovcomflot, Russia’s biggest shipping group, which was...
Rosneft Sues Berlin Over Takeover of Its German Unit
Date: October 14, 2022
BERLIN (Reuters) – Russian state energy giant Rosneft has filed a complaint with a top court in Germany against the government for taking control of its German unit including a major refinery, according to a report in German newspaper Handelsblatt. Rosneft argued that the German government’s move last month was unjustified given that the firm...
Oil Prices Slip as Iea Warns of Global Recession
Date: October 13, 2022
By Ahmad Ghaddar LONDON (Reuters) -Oil prices slipped on Thursday amid concerns that rising inflation will dent fuel demand and as the International Energy Agency warned that the global economy may go into recession. Brent crude futures fell 23 cents, or 0.3%, to $92.22 a barrel by 1349 GMT. U.S. West Texas Intermediate crude was...
France Tells TotalEnergies to Hike Wages as Fuel Strikes Spread
Date: October 13, 2022
By Tassilo Hummel and Pascal Rossignol DUNKIRK, France (Reuters) -France told TotalEnergies to raise wages on Thursday as the oil firm’s two-week standoff with striking workers, which has sapped the country’s petrol supplies, dragged on. Oil depot and refinery strikes have reduced France’s petrol output by more than 60% and left one in three petrol...
Oil Down on Strong Dollar, Worries About Recession and Hawkish Fed Talk
Date: October 12, 2022
By David Gaffen NEW YORK (Reuters) -Oil futures fell for a third day on Wednesday, as worries about a weaker fuel demand outlook and rising U.S. interest rates outweighed supply concerns that followed last week’s OPEC+ cut to its production target. OPEC slashed its demand outlook on Wednesday. Last week, together with allies including Russia,...
Oil Falls on Fears of Global Recession, China Covid Flare-Up
Date: October 11, 2022
By Laura Sanicola (Reuters) – Oil prices fell about 2% on Tuesday, extending the previous session’s almost 2% decline, as recession fears and a flare-up in COVID-19 cases in China raised concerns over global demand. World Bank President David Malpass and International Monetary Fund Managing Director Kristalina Georgieva warned on Monday of a growing risk...