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LONDON, Dec 16 (Reuters) – Oil major Shell (SHEL.L) has taken a final investment decision on a waterflood project at its Kaikias field in the U.S. Gulf of Mexico, aiming to boost oil recovery and extend the life of its Ursa platform. The project is expected to add 60 million barrels of oil equivalent to …
Shell Greenlights US Gulf Waterflood Project to Boost Oil Recovery Read More »
Secretary of State Marco Rubio and Secretary of Defense Pete Hegseth will hold closed, classified briefings for all U.S. senators and representatives on Tuesday about the Trump administration’s strategy toward Venezuela. President Donald Trump’s objectives remain unclear to many lawmakers, even after 3-1/2 months, more than 20 deadly U.S. strikes on boats off the South …
Why is the Trump Administration Putting Pressure on Venezuela? Read More »
Activist investment firm Kimmeridge Energy Management has submitted a $6 billion offer to buy Ascent Resources, the Financial Times reported on Tuesday. The bid is the latest challenge to Ascent’s private equity backer Energy & Minerals Group’s (EMG) efforts to sell a more than 30% stake in the company from one of its funds to …
By Nathan Risser and Christopher Charleston A woman stands in a street as the snow falls in the Manhattan borough of New York on Dec. 14. Photographer: Charly Triballeau/AFP/Getty Images Four northeastern US states are under emergency transport orders after an outage at one of the largest underground heating fuel storage facilities in the region …
US Declares Energy Emergency as Cold Snap Hits Northeast Read More »
(Reuters) – The volume of Venezuelan oil already headed to China before the U.S. seized a Venezuelan tanker last week, plus a glut of crude in storage and weak demand, will limit the near-term impact of the move in the Chinese market, traders and analysts said. Exports from the South American producer have fallen sharply …
Ample Oil Supply Shields China From Impact of Venezuela Disruption, For Now Read More »
(Reuters) – A tanker carrying Russian naphtha for Venezuelan state oil company PDVSA and at least four supertankers due to pick up crude cargoes in Venezuela have made u-turns after the U.S. seized a vessel carrying Venezuelan crude, ship monitoring data showed on Monday. The U.S. Coast Guard last week intercepted and seized a very …
Tankers Make U-Turns After US Seizure of Venezuelan Oil Cargo, Shipping Data Says Read More »
The cost of shipping oil is likely to remain high in the first half of 2026 as the global fleet ages and a rising number of vessels are hit with Western sanctions, shipping sources say, though rates could be capped in the second half. In recent weeks, the cost of shipping oil has risen to …
Oil Tanker Rates to Stay Strong into 2026 as Sanctions Remove Ships for Hire Read More »
The United States’ tightening grip on Venezuela’s oil exports could strangle the country’s crude output and cut off President Nicolas Maduro’s main economic lifeline, but it will have limited impact on the global market. The U.S. Coast Guard last week seized in mid-ocean a supertanker carrying Venezuelan crude to Cuba, marking a step-up in Washington’s …
US Squeeze on Venezuela Oil Won’t Create Global Crunch: Bousso Read More »
Summary Brent and WTI down more than 4% this week Supply glut remains main market focus US plans to seize more tankers off Venezuela, sources say (Reuters) – Oil prices closed lower on Friday, marking a 4% weekly decline as a supply glut and a potential Russia-Ukraine peace deal outweighed worries about any impact from …
(Reuters) – U.S. energy firms this week cut the number of oil and natural gas rigs operating for a second time in three weeks, energy services firm Baker Hughes said in its closely followed report on Friday. The oil and gas rig count, an early indicator of future output, fell by one to 548 in …
US Drillers Cut Oil and Gas Rigs for Second Time in Three Weeks, Says Baker Hughes Read More »
