Russia is rerouting Kazakhstan's crude oil exports from the Baltic port of Ust-Luga to the Black Sea port of Novorossiysk, freeing up capacity for more Russian oil exports from the Baltic amid heightened Black Sea security risks, four sources said.Kazakhstan…
Equinor said on Tuesday it has agreed to buy a stake in an oil exploration licence in Namibia from a subsidiary of US energy major Chevron as the Norwegian company seeks to boost its international portfolio.The purchase of a 17.4…
Chevron said on Monday it had discovered oil and gas condensate at an exploration well in Block 0, offshore Angola, adding to its push to increase production in sub-Saharan Africa through infrastructure-led exploration.Western and southern Africa are among regions drawing…
Weather conditions and operational challenges were hampering salvage efforts for a grounded tanker that was leaking Russian crude oil in a protected marine area off Oman's coast, the sultanate's state news agency reported on Monday.Oman has been coordinating the salvage…
For several decades, there has been one reliable growth engine for oil demand in the world: China. China’s massive growth in oil demand in the early 2000s was the primary driver of the tanker super cycle that lasted from roughly…
Two tankers were attacked in the Strait of Hormuz overnight Thursday, according to UKMTO and UAE state oil company Adnoc. It was the latest round of strikes instigated by Iran in an attempt to reinforce Iranian control of the strait,…
