As widely expected, ExxonMobil said on Thursday that it had made a natural gas discovery southwest off Cyprus, which Cypriot authorities hailed as the largest find offshore the eastern Mediterranean Continue Reading
ExxonMobil added another giant gas discovery to the east Mediterranean region after finding a gas-bearing reservoir offshore Cyprus but infrastructure bottlenecks and geopolitical disputes mean output from the field could Continue Reading
Saudi Arabia’s crude oil exports to U.S. are falling sharply, with shipments so far this month at just 1.6 million barrels, according to data compiled by Bloomberg , versus 5.75 Continue Reading
The fundamentals of the oil market have changed significantly over the decades since the inception of the Organization of Petroleum Exporting Countries. Although the cartel’s oil production has increased over Continue Reading
Production from the recently launched Egina deepwater field would remain outside Nigeria’s commitment to stick to OPEC’s production cuts, according to state-held Nigerian National Petroleum Corporation (NNPC). “[I]t is not Continue Reading
The oil and gas sector of the Nigeria economy is responsible for 92.9 per cent of illicit financial flows (IFF) with over $217.7 billion said to have flowed out of Continue Reading
Dutch prosecutors are preparing criminal charges against Royal Dutch Shell over its $1.3 billion acquisition of Nigerian offshore oilfield OPL 245 in 2011. Shell said in a statement on its Continue Reading
At least 8 tons of gold were removed from the Venezuelan central bank’s vaults last week, an opposition legislator and three government sources told Reuters, in the latest sign of Continue Reading
Auctions scheduled later this year to pick joint venture partners for Mexican state oil company Pemex will proceed, an official at the national oil regulator said on Thursday, despite the Continue Reading
The potential collapse of President Nicolás Maduro’s regime poses a threat to Cuba, which relies on Caracas for about 28% of the island’s oil needs. Venezuela’s opposition says the government’s Continue Reading
