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Goldman Sachs lowered its fourth-quarter Brent crude oil price forecast to $80 from $90 and cut its 2027 average estimate to $75 from $80, after the U.S. and Iran signed a preliminary agreement to reopen the Strait of Hormuz. Analysts at the investment bank said in a research note released late on Monday they …
Goldman Lowers Oil Price Forecasts on Deal to Reopen Strait of Hormuz Read More »
Abu Dhabi National Oil Company (ADNOC) has sold at least 30 million barrels of spot crude to Asian refiners and trading firms so far this month and offered more this week, trade sources said, boosting exports during the U.S.-Iran ceasefire. The United Arab Emirates producer sold cargoes of Das, Upper Zakum and Umm Lulu …
ADNOC Sells at Least 30 Million Barrels Crude in Supply Boost, Sources Say Read More »
India’s Petronet sent a liquefied natural gas tanker through the Strait of Hormuz, the only shipment on Monday since the United States and Iran reached a peace deal to reopen the strategic waterway, shiptracking data showed. The limited traffic underscores wariness among shippers who have welcomed the deal but are still waiting for more details …
One LNG Tanker Passes Hormuz After US-Iran agree to Deal, Shippers Stay Cautious Read More »
Ensuring the Strait of Hormuz is safe from mines could delay a return to normal shipping traffic by weeks following a deal to reopen the waterway, shipping and maritime security sources say. The operation by conventional minesweepers and state-of-the-art underwater drones could continue for 40 to 50 days before many insurance, shipping or oil …
Scouring the Strait of Hormuz for Mines Could Take Weeks Read More »
British oil major BP has started a process to sell stakes in two of its Gulf of Mexico projects, four people with knowledge of the matter said, in what would be one of new CEO Meg O’Neill’s first moves. BP, one of the largest operators in the Gulf of Mexico, has been weighing a …
BP Starts Process to Sell Stakes in Two Gulf of Mexico Projects, Sources Say Read More »
By EnergyNow Editorial Staff For much of the past decade, international investors viewed Canada’s oil and natural gas sector as a paradox. The country possesses some of the largest petroleum reserves in the world, a highly skilled workforce, strong environmental standards, political stability, and access to growing global energy markets. Yet despite these advantages, billions …
A liquefied natural gas tanker that has been trapped in the Persian Gulf for over three months appears to be heading toward the Strait of Hormuz, just as the US and Iran say they have reached a deal to reopen the waterway. Disha, which is under a long-term charter with an Indian state-owned importer, is north of …
LNG Tanker Heads Toward Hormuz as Deal Raises Hopes of Reopening Read More »
Shell once had grand ambitions to be the world’s biggest electricity producer through renewable energy sources Bloomberg News The plan to sell the offshore farms marks a further departure from the British energy giant Shell’s past strategy to diversify into green electricity, as they pivot back to fossil fuels. Shell PLC is preparing to launch a …
Shell Plans US$1 Billion Wind Farms Sale in Latest Renewables Exit Read More »
LONDON, June 12 (Reuters) – Britain on Friday said that a full ban on diesel and jet fuel made in Russia would happen by 2027 as it set out its timeline to end a temporary licence for Russian oil products. Britain last month said it would continue to allow imports of diesel and jet fuel …
Britain Says Full Import Ban on Russian Diesel, Jet Fuel Will Happen by 2027 Read More »
(Reuters) – Since the start of the Iran war and Tehran’s announcement that the Strait of Hormuz was “closed”, the market has grappled to put a figure on lost crude supply and to predict the price of oil. Initial calculations were simple: add up all non-Iranian Gulf crude oil exports, some 12 million to 15 …
Lost Gulf Oil Exports Far Smaller Than Thought, Traders and Shippers Say Read More »
