International oil companies are lining up to explore deepwater acreage offshore Uruguay, betting that the South Atlantic margin could host a substantial new oil province mirroring recent finds off Namibia.
The resumption of the Iran conflict, including the effective closures of the Strait of Hormuz and now the Strait of Bab el-Mandeb has driven up natural gas prices, particularly in Europe and Asia.
Russia's largest Black Sea oil export terminal has effectively gone offline just days after drone attacks shut down the neighboring Caspian Pipeline Consortium terminal, tightening another artery that moves crude onto the global market.
Oil and gas supermajors are on course to post markedly higher second-quarter earnings, and the windfall is drawing political fire on both sides of the Atlantic, according to a report by OilPrice.com.
The total number of active drilling rigs for oil and gas in the United States fell this week, according to new data that Baker Hughes published on Friday, bringing the total rig count in the US to 587, up 45…
Renewed hostilities between the United States and Iran have upended market expectations of a well-supplied oil and gas market, driving ICE Brent above US$85 per barrel and reversing weeks of oversupply sentiment into fears of a global shortage.
