Thursday, April 3, 2025
EXCLUSIVE-China's oil champion prepares Western retreat over sanctions fear- oil and gas 360

EXCLUSIVE-China’s oil champion prepares Western retreat over sanctions fear

Nasdaq LONDON/SINGAPORE – China’s top offshore oil and gas producer CNOOC Ltd. is preparing to exit its operations in Britain, Canada and the United States, because of concerns in Beijing the assets could become subject to Western sanctions, industry sources said. Ties between China and the West have long been strained by trade and human rights issues and the tension has

Record Permian well permits point to growing U.S. oil supply- oil and gas 360

Record Permian well permits point to growing U.S. oil supply

World Oil (Bloomberg) — Drilling permits for new wells have spiked to unprecedented levels in the Permian Basin, signaling crude oil suppliers in America are finally responding to higher prices, according to Rystad Energy. A total of 904 horizontal drilling permits were awarded last month in the shale patch that lies beneath Texas and New Mexico, an all-time-high, Rystad said.

U.S. crude stocks surge on strategic reserve release- oil and gas 360

U.S. crude stocks surge on strategic reserve release

Nasdaq U.S. crude stocks surged by more than 9 million barrels, in part due to releases from the nation’s strategic reserves, while gasoline and distillate inventories fell last week, the Energy Information Administration said on Wednesday. Crude inventories USOILC=ECI rose by 9.4 million barrels in the week to April 8 to 421.8 million barrels, far surpassing analysts’ expectations in a Reuters poll for an