Oil Slumps As Covid Infections Dampen Demand Recovery
Oil slumped in New York after a surprise increase in U.S. crude inventories added to renewed concerns about demand recovery as China battles the coronavirus resurgence.
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Covid Batters Leading Asia Importer
Shipments of gasoline into Asia's biggest importer of the fuel have sunk almost a quarter, according to Vortexa Ltd.
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Shale Drillers Leave $12B on Table
Shale explorers are facing almost $12 billion in losses this year from bad bets on oil after a global rally, according to BloombergNEF.
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Subsea 7 Makes Floating Wind Acquisition
Subsea 7 has announced that it has entered into an agreement to acquire a majority interest in the equity of Nautilus Floating Solutions S.L.
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OPITO Creates Energy Transition Team
Energy safety and skills body OPITO has announced the creation of an energy transition team.
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Rapid Iran Oil Comeback Now Looks Less Likely
Iran's oil comeback, already taking longer than many traders expected, will be further complicated by last week's deadly drone attack on a tanker in the Gulf of Oman.
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Oil Prices Extend Decline
Oil declined for a second day as the spread of Covid-19’s delta variant in China threatens to disrupt the recovery in global crude consumption.
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Devon and Conoco Study $10B Shell Permian Assets
Devon Energy Corp. and ConocoPhillips are among potential suitors studying Royal Dutch Shell Plc's portfolio of Permian Basin oil fields, people familiar with the matter said.
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Russia Oil and Condensate Output Rises
Russia increased oil production in July for the first time in three months, after more generous quotas were extended to the entire OPEC+ alliance.
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Adnoc Sells Trial Cargo of Blue Ammonia to Itochu
The United Arab Emirates agreed to sell its first cargo of blue ammonia as the oil producer aims to boost supply of cleaner fuels to buyers in Asia.