oil-and-gas
Top StoriesAnalysis: Antitrust Rules, Petro-Canada Profits May Hinder Suncor From Selling Unit
Top StoriesSwitch From Gas Boosts Oil Demand, but Economic Headwinds Loom – Iea
Top StoriesOil Drops on Druzhba Pipeline Restart, Demand Fears
Top StoriesOil up as Russian Pipeline Halt Revives Supply Constraint Fears
Ukraine Halted Oil Flows to Europe Over Payment Issue, Russia’s Transneft Says
Date: August 9, 2022
MOSCOW (Reuters) -Ukraine has suspended Russian oil pipeline flows to parts of central Europe since early this month because Western sanctions prevented it from accepting transit fees from Moscow, Russian pipeline monopoly Transneft said on Tuesday. International benchmark Brent crude jumped by $2 per barrel to trade near $98 as the news added to energy...
Lng Traders Absorb Huge Losses After Supply Outages
Date: August 9, 2022
By Ron Bousso and Marwa Rashad LONDON (Reuters) – Major energy traders are taking hundreds of millions of dollars in losses as they scramble to plug a liquefied natural gas (LNG) supply gap after several outages hampered efforts to fill European storage ahead of the winter heating season. Unplanned disruptions at LNG plants in the...
Oil Holds Near Multi-Month Lows on Demand Worries
Date: August 8, 2022
By Shadia Nasralla LONDON (Reuters) -Oil prices hovered near multi-month lows on Monday as lingering worries about demand weakening on the back of a darkened economic outlook outweighed some positive economic data from China and the United States. Erasing earlier gains, Brent crude futures were down 55 cents, or 0.6%, at $94.37 a barrel by...
Cenovus to Buy Remaining 50% Stake in Toledo Refinery From Bp
Date: August 8, 2022
(Reuters) -Cenovus Energy Inc will buy the remaining 50% stake it does not already own in Ohio-based BP-Husky Toledo Refinery for $300 million from British energy firm BP PLC, the Canadian company said on Monday. The deal marks a continuation of BP’s reshaping of its North American oil and gas operations, as it tries to...
Oil Prices End Week on Multi-Month Lows on Recession Fears
Date: August 5, 2022
By Laura Sanicola (Reuters) -Oil prices settled higher on Friday, recouping some of this week’s losses on strong U.S. job growth data, but closed the week at their lowest levels since February, rattled by worries a recession could hit fuel demand. Brent crude settled up 80 cents to $94.92 a barrel, 11% off last Friday’s...
Tullow Oil Abandons Guyana Well After Dismal Drilling Results
Date: August 5, 2022
By Muhammed Husain (Reuters) -Africa-focused Tullow Oil said on Friday it would abandon its drilling operations at an exploration well offshore Guyana after results showed the well bore water, sending its shares lower. The group, which holds 37.5% of the Kanuku block where the Beebei-Potaro exploration well lies, said it would work with its joint...