The Venezuelan oil sector has languished for years under the weight of chronic underinvestment, deteriorating infrastructure and endemic corruption. Following recent military action in Caracas that resulted in the detention
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The recent escalation of United States sanctions on Venezuela presents a significant threat to Chinese oil companies, as the world’s second-largest oil consumer depends on the Latin American nation for
Oil prices maintained upward momentum on Tuesday, reversing earlier losses during Asian trading sessions, as geopolitical risks emanating from Russia and Iran overshadowed persistent oversupply concerns. Trading volumes remained modest
Saudi Aramco is positioned to acquire a 20 percent stake in a planned refinery that India’s state-owned Bharat Petroleum Corporation Limited (BPCL) intends to construct with an estimated total investment
Oil prices are approaching their steepest annual decline since the pandemic-induced collapse of 2020, pressured by mounting concerns over a deepening supply glut. The deterioration in crude markets has intensified
European equity markets achieved record highs during Tuesday’s trading session following a subdued performance across Asian markets, as investors assessed substantial gains heading towards the conclusion of the year. Precious
Three oil tankers insured by a leading British syndicate are at the centre of a developing diplomatic confrontation after they were observed transporting oil from the Venezuelan port of Puerto
A Reuters monthly survey of 35 analysts and economists has revealed growing pessimism regarding oil price trajectories, with projections for both West Texas Intermediate and Brent crude declining below previous
Shell’s chief executive, Wael Sawan, has announced that the company is preparing to capitalise on an anticipated period of depressed crude oil prices by pursuing selective bolt-on acquisitions. Speaking to
Donald Trump stormed back into the White House pledging to “drill baby drill” and promising to unleash a new era of American energy dominance. Yet, contrary to his campaign slogans,
The London stock market’s leading index soared to a new record as the FTSE 100 climbed 63.57 points or 0.7 percent to 9578.57 on Thursday This milestone surpasses its previous
Motorists across the United Kingdom are set to benefit from lower fuel costs in the coming year, as the price of oil is projected to fall to its lowest level
Serica Energy has taken strategic advantage of the downfall of Prax Group, securing a deal to acquire the company’s North Sea assets in a move expected to bolster its standing
BP has announced the approval of a £5 billion project to develop the Tiber oil field in the Gulf of Mexico, a resource previously considered too hazardous to exploit due
The UK government’s decision to maintain windfall taxes and impose drilling restrictions in the North Sea could cost the Treasury £10bn in lost tax revenue by 2030, analysts have warned.
The global oil market is heading towards a historic oversupply in 2026, driven by aggressive production increases from the Saudi-led Opec+ bloc, as worldwide demand falters. The International Energy Agency