World Oil (Bloomberg) –APA Corp. and its Chinese partner in an Egyptian oil project will recover almost $900 million in prior investments under a new drilling contract with the North African nation. APA was the day’s best performer in the S&P 500 Index. APA and Sinopec will collect the “backlogged costs” over a five-year period that began on April 1,
Reuters LONDON -Oil prices extended gains on Tuesday, with Brent crude trading near $80 a barrel despite the rapid spread of the Omicron coronavirus variant, supported by supply outages and expectations that U.S. inventories fell last week. Brent crude rose by 55 cents, or 0.7%, to $79.15 a barrel by 1410 GMT, after hitting a session high of $79.85. U.S. West
Reuters Dec 28 – U.S. natural gas futures slipped from a more than three-week high on Tuesday on forecasts for milder weather and less heating demand over the next two weeks than previously expected. On their second to last trading day as the front-month, gas futures NGc1 fell 8.5 cents, or 2.2%, to $3.972 per million British thermal units (mmBtu) by 9:32
Nasdaq MOSCOW, Dec 28 – Russia is unlikely to hit its May target of pre-pandemic oil output levels due to a lack of spare production capacity but could do so later in the year, analysts and company sources said on Tuesday. Deputy Prime Minister Alexander Novak, in charge of Moscow’s ties with the OPEC+ group of oil producers, has said
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