Gibraltar’s police and coastguard, aided by British Royal Marines, detained a supertanker on Thursday suspecting of carrying crude oil to Syria in violation of sanctions, the territory’s Chief Minister Fabian Picardo said.
LONDON: British oil major BP agreed to sell all its Alaskan properties for $5.6 billion to privately held Hilcorp Energy Co, exiting a region where it operated for 60 years. The deal, which includes interests
Oil prices hit four-month highs on Monday after attacks on crude facilities in Saudi Arabia fuelled worries over the impact of an oil shock on economic growth, halting a positive run in world stocks and bolstering demand for safe-haven assets.
The UAE has a total of 105 billion stock tank barrels of recoverable oil and 273 trillion standard cubic feet of conventional gas.
India’s imports of crude oil have stalled in recent months, but the malaise in the country’s energy sector is deeper, with both coal and liquefied natural gas (LNG) also soft.
Rosneft’s daily oil output fell 2.7% in the second quarter from the previous three months, the Russian oil company said, mainly because of restrictions introduced by pipeline operator Transneft after an oil contamination scandal. The world’s biggest listed oil company by output said its oil production averaged 4.62 million barrels per day (bpd)
Saudi Arabia’s energy ministry has directed oil producer Saudi Aramco to raise its output capacity to 13 million from 12 million barrels per day (bpd), CEO Amin Nasser said
Brent slumped to $22.5 a barrel leaving it down 65% for the year and hammering petro currencies such as Russia's rouble, Mexico's peso and the Indonesian rupiah by as much as 2%.
Oil prices plunged below zero on Monday as demand for energy collapses amid the coronavirus pandemic and traders don’t want to get stuck owning crude with nowhere to store it.