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WTI crude oil prices increased to $69.15, driven by a significant drop in U.S. crude inventories and concerns about tighter global supply due to U.S. tariffs affecting Venezuelan oil. API …
WTI Crude Oil Prices Rise Amid Venezuela Supply Concerns Read More
Oil prices rose due to declining U.S. fuel inventories and heightened tensions in the Middle East. Brent crude increased by 0.57%, while WTI gained 0.51%. A larger than expected drawdown …
Oil Prices Increase Amid U.S. Inventory Decline and Middle East Tensions Read More
PDVSA is set to independently produce crude oil in Venezuela following the revocation of Chevron’s operating license by the U.S. The Trump administration’s decision, based on electoral and migration issues, …
PDVSA to Independently Manage Chevron’s Operations in Venezuela Read More
A recent explosion on the Trans-Niger Pipeline in Rivers State, Nigeria, has disrupted oil transport. Authorities are investigating the cause, suspecting sabotage or equipment failure. The incident has resulted in …
Trans-Niger Pipeline Explosion Causes Disruption, Investigation Initiated Read More
An explosion on the Trans-Niger Pipeline in Nigeria late Monday disrupted oil operations. The incident, perceived as potentially linked to sabotage or equipment failure, has initiated an investigation, leading to …
Trans-Niger Pipeline Explosion Causes Disruption and Triggers Investigation Read More
The Trans Niger Pipeline in Rivers State resumed operations after a fire incident on Monday. No blasts were reported, and integrity tests confirmed the pipeline’s safety. Two individuals were arrested, …
Resumption of Operations at Trans Niger Pipeline Following Fire Incident Read More
Argentina’s oil production has surged over the last three years, raising hopes against a backdrop of economic hardship. Critics voice concerns over equitable benefits, environmental protections, and the government’s commitment …
Argentina’s Oil Boom: Opportunities and Challenges for the Future Read More
Petrobras has discovered hydrocarbons in the Santos Basin’s Aram block, confirming findings through various methods. Acquired in 2020, the Aram block is a critical asset in Petrobras’ pre-salt portfolio, potentially …
Petrobras Makes Significant Hydrocarbon Discovery at Aram Block Offshore Brazil Read More
Ecuador’s Petroecuador declared force majeure after a catastrophic oil spill caused by a landslide, severely contaminating the Esmeraldas River and affecting over 500,000 residents. The event led to a state …
Petroecuador Declares Force Majeure Following Major Oil Spill Crisis Read More
Ecuador’s Petroamazonas has declared force majeure on the SOTE pipeline after a landslide caused an oil spill, affecting crude exports to Shell Plc. The spill has contaminated the Esmeraldas River, …
Ecuador’s Petroamazonas Declares Force Majeure on SOTE Pipeline After Oil Spill Read More