Thursday, December 19, 2024
Exxon drills dry hole in setback to Brazilian oil exploration- oil and gas 360

Exxon drills dry hole in setback to Brazilian oil exploration

World Oil (Bloomberg) — Exxon Mobil Corp. drilled a so-called dry hole off the Brazilian coast, a rare setback in the oil titan’s effort to expand its South American crude reserves.   The Cutthroat exploratory well failed to find significant quantities of oil or natural gas, according to Enauta Participacoes SA, an investor in the project. Exxon didn’t immediately respond

India is snapping up cheap Russian oil, and China could be next- oil and gas 360

India is snapping up cheap Russian oil, and China could be next

CNBC There’s been a “significant uptick” in Russian oil deliveries bound for India since March after Russia’s invasion of Ukraine began — and New Delhi looks set to buy even more cheap oil from Moscow, industry observers say. China, already the largest single buyer of Russian oil, is also widely expected to buy more oil from Russia at deep discounts,

War turns Argentina's shale boom dream into gas-buying nightmare- oil and gas 360

War turns Argentina’s shale boom dream into gas-buying nightmare

World Oil (Bloomberg) — Argentina, home to some of the world’s vastest gas reserves, is bracing for the unthinkable: rationing one of its chief natural resources. Despite having shale-gas deposits to rival those in Appalachia, which made the U.S. a major exporter, Argentina’s domestic gas production sector has suffered from years of underinvestment that has left it unable to meet

Russia and West at odds over gas payments in roubles- oil and gas 360

Russia and West at odds over gas payments in roubles

Reuters Russia said on Monday it will not supply gas to Europe for free as it works out methods for accepting payments for its gas exports in roubles but G7 nations refused the demand. At a meeting of European Union leaders on Friday, no common position emerged on Russia’s demand last week that “unfriendly” countries must pay in roubles, not

Russia will ‘always’ be a part of OPEC+, UAE energy minister says- oil and gas 360

Russia will ‘always’ be a part of OPEC+, UAE energy minister says

CNBC The United Arab Emirates’ energy and infrastructure minister has insisted that Russia will always be a part of OPEC+ even as governments across the globe shun the oil exporter over its war in Ukraine. Speaking to CNBC on Monday, Suhail Al Mazrouei, a former president of the oil alliance, said no other country could match Russia’s energy output and

Oil slides on concerns of weaker Chinese demand- oil and gas 360

Oil slides on concerns of weaker Chinese demand

Reuters U.S. West Texas Intermediate (WTI) crude futures hit a low of $108.28 a barrel, and were down $4.55, or 3.9%, at $109.35. Both benchmark contracts rose 1.4% on Friday, notching their first weekly gains in three weeks, with Brent surging 11.8% and WTI climbing 8.8%. Shanghai has entered a two-stage lockdown of 26 million people on Monday in an