Egypt raises gasoline prices by up to 50 percent
Egypt raised gasoline prices by up to 50 percent, the oil ministry said on Saturday, under an IMF reform plan that calls for the slashing of state subsidies on some Continue Reading
Kenya: First Crude Arrives in Mombasa
Six years after British firm Tullow Oil announced that it had struck oil in Kenya, four tankers, each carrying 156 barrels arrived in Mombasa on Thursday. It is East Africa’s Continue Reading
Equinor seals the deal offshore Brazil
Equity production from offshore Brazil more than doubles after the completion of an acquisition in the Campos oil basin, Norwegian company Equinor said. Equinor, formerly known as Statoil, said Friday Continue Reading
Venezuela crude oil output careens toward 1 million b/d
Venezuelan crude oil production is on the verge of sinking to 1 million b/d, and factors playing out this month will determine whether that level is reached early next year Continue Reading
Venezuela oil exports to China slump, may hit lowest in nearly 8 years
China’s imports of Venezuelan crude oil could sink to their lowest in nearly eight years in July as the OPEC producer struggles with shrinking output and mounting logistics issues, according Continue Reading
Venezuela Oil Production May Sink To 1 Million Bpd As Early As This Year
Venezuela’s production plummeted again in May, by 42,500 bpd from April to below 1.4 million bpd—1.392 million bpd, according to OPEC’s secondary sources in its latest Monthly Oil Market Report Continue Reading
Venezuela’s Oil Sales To China Set To Plunge To 8-Year-Low
Venezuela’s economic and oil industry demise is likely to result in its crude oil exports to China plummeting to their lowest level in almost eight years in July, Reuters reported Continue Reading
China Issues Retaliatory Tariffs as Trade Fight Heats Up
Beijing retaliated against planned U.S. tariffs on Chinese goods by targeting high-value American exports—including farm products, cars, and crude oil—stepping up the potential for a trade war between the world’s Continue Reading
China retaliates against US tariffs on $50bn of imports
Beijing announced it would retaliate against new US tariffs on $50bn in Chinese imports that will go into effect within days, taking the world’s two largest economies to the brink Continue Reading
China surprises with threat on U.S. energy exports
Beijing surprised oil markets with threats to levy tariffs on imports of U.S. crude oil, natural gas and other energy products on Friday, just as China has risen to the Continue Reading