(Oil Price) – BP chair Helge Lund has informed the board that he would be stepping down from the role “most likely during 2026,” as activist investor Elliott continues to demand more changes at the UK-based supermajor. BP’s board of directors has initiated a succession process to select a new Chair after Helge Lund informed the board of his intention to
(BOE Report) – Goldman Sachs lowered its forecast for Brent crude’s average price this year by 5.5% to $69 a barrel and for WTI prices by 4.3% to $66, citing the risks of higher OPEC+ supply and the global trade war triggering a recession. The Wall Street brokerage also chopped its 2026 average price forecast for Brent by 9% to
(Oil Price) – ExxonMobil expects its first-quarter earnings to be higher than in Q4 by up to $2 billion, thanks to higher oil and gas prices and rising refining margins. Exxon’s earnings in the upstream segment could be up to $900 million higher in the first quarter compared to the fourth quarter of 2024, due to higher oil and gas prices
(Investing) – Oil prices have plummeted to their lowest levels in more than three years, as China retaliates against President Trump’s tariffs, intensifying the ongoing trade war and unsettling global markets. Brent Oil Futures dropped 7.6% to $64.86 a barrel at 14:05 GMT, while Crude Oil WTI Futures fell 8.4% to $61.34 a barrel. “We leave our forecasts unchanged until further clarity emerges, sticking with
(World Oil) – In a bid to bolster investment and competitiveness within Africa’s oil and gas sector, national oil companies (NOCs) in Nigeria and Angola are progressing with long-anticipated initial public offerings (IPOs). These IPOs are poised to attract significant global investment, providing much-needed capital to enhance production capabilities, improve infrastructure and foster long-term growth. This move reflects a broader
(Investing) – BEIJING/LONDON -China placed export restrictions on key rare earth elements on Friday as part of its sweeping response to President Donald Trump’s tariffs, potentially squeezing supply to the U.S. and the West of minerals vital to everything from defense to electric cars. China produces around 90% of the world’s refined rare earths, a group of 17 elements used across
(World Oil) – Nigerian President Bola Tinubu hired the former head of a unit of Shell Plc to run the state oil company, as Africa’s biggest crude producer works to boost output and prepare the firm for an initial public offering. Bashir Ojulari will replace Mele Kyari as head of NNPC Ltd. with immediate effect, presidency spokesman Bayo Onanuga said in
(Oil Price) – BP said on Thursday that its Cypre development offshore Trinidad and Tobago delivered first gas, as yet another project started up since the supermajor reset its strategy to shift focus back to oil and gas. Cypre is one of BP’s 10 major projects expected to start up worldwide between 2025 and 2027, announced as part the reset strategy to grow
(World Oil) – (Bloomberg) – Chevron Corp., YPF SA and other oil drillers are planning a major Argentine pipeline to handle rising output from the Vaca Muerta shale region. The companies, through the Oldelval SA joint venture, are in talks to increase oil-shipping capacity from Puesto Hernandez, a promising drilling zone more than 100 kilometers (62 miles) distance from the
(BOE Report) – European Commission President Ursula von der Leyen described U.S. President Donald Trump’s universal tariffs as a major blow to the world economy and said the European Union was prepared to respond with countermeasures if talks with Washington failed. Von der Leyen said the EU was already finalising a first package of tariffs on up to 26 billion
(Oil Price) – Japan’s trading giant Mitsubishi Corporation could consider a potential investment in the proposed $44-billion Alaska LNG project, Mitsubishi’s Katsuya Nakanishi told Reuters on Thursday, as the U.S. is pitching the benefits of Alaskan energy resources to allies in Asia. Mitsubishi would need careful due diligence before taking any decision on a potential investment in the Alaska project, Nakanishi added. Mitsubishi
(Investing) – HOUSTON -Oil prices fell on Thursday as the decision by the OPEC+ group to speed up its unwinding of oil output cuts in May compounded already heavy losses following U.S. President Donald Trump’s announcement of sweeping new tariffs. Brent futures were down $5.33, or 7.11%, at $69.62 a barrel by 1504 GMT. U.S. West Texas Intermediate crude futures were down
Sign up to receive daily news and stock prices from Oil & Gas 360® directly in your email inbox.
Market Data ©2020–2024 QuoteMedia. Data delayed 15 minutes unless otherwise indicated (view delay times for all exchanges). RT=Real-Time, EOD=End of Day, PD=Previous Day. Market Data powered by QuoteMedia. Terms of Use.
