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Oil and Gas
As attacks on Red Sea shipping increase, the US has expanded its naval task force to provide…
The Pentagon convinced over seven allies in the Red Sea to join a stronger naval task force due to more attacks on commercial ships by Iran-backed militants, resulting in higher oil prices.
Lloyd Austin, US Defence Secretary, announced…
IEA: Opec+ controls only half the oil market.
Opec+ controls only half of the global oil production, as demand growth has slowed "dramatically" and US output is at new highs.
According to the International Energy Agency, recent production cuts made to support the oil price have…
Venezuela increases stakes in dispute over oil with Guyana
Venezuelan President Nicolas Maduro raised the stakes dramatically in his country's dispute over its border with Guyana. He ordered state companies to exploit contested mineral and oil deposits, and redrawn official maps following a…
Oil drops to lowest level in five months despite Opec+ cuts
Oil prices are at their lowest levels in five months, as investors become increasingly skeptical that the production cuts announced last week by Opec+ will be sufficient to offset rising supplies from outside of the cartel.
Brent, the…
Opec+ cuts oil production, leaving the market skeptical
OPEC+ will reduce oil production in 2024 to help improve the market.However, crude prices have fallen due to ongoing tensions within the group.
Saudi Arabia has pledged to extend its voluntary cut of one million barrels per day until the…
Saudi Arabia seeks OPEC+ oil production quota cuts while some members resist
Saudi Arabia has asked other members of the OPEC+ alliance to reduce their oil production quotas to stabilize global markets, but some are refusing to comply.
OPEC+'s leader, who asked not to be named because this information is…
How Sir Jim Ratcliffe dealt a crushing blow to the SNP in Grangemouth
There is increasing pressure on the Scottish government to save its only oil refinery
Owners of Scotland's only remaining oil refinery Grangemouth have lost more than £1bn over the past 12 years. The looming shutdown, combined with…
Biden, US adviser, confident that Arab states won’t weaponise oil
Chief energy adviser of the White House, Mr. Michael A. White, said that he was confident that Arab oil companies would not weaponise their energy despite growing anger in the Middle East due to Israel's bombardment and siege on Gaza.…
Oil drops to lowest level since August ahead of Opec+ Meeting
The oil prices fell to their lowest level since early July, forcing the Opec+ major oil producers group to reconsider extending and intensifying production cuts at their meeting in Vienna in 10 days.
Brent crude, the oil international…
Oil and gas importers will be hit by EU regulations on methane emissions
In an effort to curb the global warming gas, methane, the EU has agreed upon new restrictions for emissions that will affect Europe's energy industry as well as importers of oil and natural gas.
In regulations approved on Wednesday, oil,…