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British Pound holds steady above 1.3450 as Iran hopes and Fed repricing weigh on USD
The GBP/USD pair is seen consolidating its gains recorded over the past two days and trading around ...
Euro strengthens above 1.1550 as softer US data
The EUR/USD pair edges higher to near 1.1555 during the Asian trading hours on Thursday. US Dollar (...
India's HPCL Snaps Up Nigerian Crude To Dodge The Hormuz Bottleneck
Indian state-owned refiner Hindustan Petroleum Corporation Limited (HPCL) has bought 2 million barrels of crude from Nigeria, trading sources told Reuters on Tuesday, as India looks to offset the loss ...
BP Retreats Further From Green Energy With Archaea Sale
BP has announced that it will offload its US biogas business just days after confirming its exit from the North Sea, as the firm looks to shift its focus back to core oil and gas products. The London- ...
Hormuz Tanker Traffic Stalls at Two-Month Low as Attacks Escalate
Traffic at the Strait of Hormuz remains at the lowest in more than two months as security concerns have intensified with recent attacks on ships and persistent threats to shipping in the region. After ...
Pakistan Partners with Canadian Firm to Boost Domestic Heavy Crude Output
Pakistan's national Oil and Gas Development Company Limited (OGDC) has signed an agreement with a Canadian firm to deploy advanced technology to boost production from heavy crude oilfields, the larges ...
India Expands Oil Storage Sites After Shock Supply Disruption
India’s state-owned Oil and Natural Gas Corporation (ONGC), the top explorer in the country, will build a new storage site at Mangaluru to hold about 13 million barrels of oil as the world’s third-lar ...
BP Earnings Surge to $5.7 Billion on Oil Price and Refining Boom
BP more than doubled its profit for the second quarter from a year earlier on the back of higher oil and gas prices and stronger refining margins driven by the shock supply disruption in the Middle Ea ...
Saudi Aramco’s Adjusted Profit Jumps 33% as Oil Prices Surge
Saudi Aramco saw its adjusted net income jump by 33% for the second quarter from a year earlier as high oil prices and the oil giant’s ability to re-route most crude exports more than offset the const ...
Germany’s Energy Demand Falls as High Prices Hit Oil Consumption
Germany’s energy demand dropped by 1.9% over the first half of the year on surging oil and gas prices, according to preliminary data released by the Working Group on Energy Balances (AGEB), an associa ...
Tanker Traffic Remains Subdued Despite Trump’s Talk of Peace
Tanker crossings in the Strait of Hormuz and Bab el-Mandeb remained subdued at the start of this week despite reports about potential renewal of peace talks based on statements made by President Donal ...
Venezuela’s Oil Exports Fall Even as U.S. Shipments Hit Seven-Year High
Venezuela exported 1.16 million barrels of crude oil daily last month, a slight decline from June’s 1.2 million barrels daily, on lower withdrawals from storage, Reuters has reported, noting that expo ...
How Namibia Pulled Ahead In Africa’s Hottest Offshore Oil Basin
Namibia is rapidly emerging as Africa’s next major oil producer while neighboring South Africa, which controls roughly two-thirds of the same Orange Basin petroleum province, remains years behind in d ...
Harold Hamm Bets Bigger on Argentina’s Vaca Muerta Shale Boom
Continental Resources, the company founded by shale billionaire Harold Hamm, looks to expand in Vaca Muerta as international companies vie to develop Argentina’s proven prolific shale patch. Continent ...