Indian Refineries Cut Back on Spot Tenders as Russian Oil Resumes Supply
Indian Refineries Slashing Spot Tenders as Russian Oil Flows Back Indian refiners will issue fewer tenders for the purchase of crude oil on the spot market in the coming month as Russian supplies bounce back, Reuters has reported. Previously, Bharat Petroleum CFO revealed that middlemen who supply Russian oil stopped offering cargoes following U.S. sanctions […]
GeoPark Purchases Repsol’s Colombian Oil and Gas Assets for $530 Million
GeoPark acquires Repsol’s Colombian oil and gas assets for $530 million GeoPark Limited, a prominent independent energy company operating across Latin America, has signed Sale and Purchase Agreements (SPAs) with Repsol Exploración S.A. and Repsol E&P S.A.R.L to acquire key oil and gas assets in Colombia. The acquisition encompasses Repsol Colombia O&G Limited’s 45% non-operated […]
Oil Price Forecast: US Increases Crude Production While OPEC Considers Boosting Supply
Oil price outlook: US pumps more crude as OPEC eyes more supply Exxon Mobil Corp. and Chevron Corp. capped Big Oil earnings season by revealing blockbuster increases in fossil fuel production — just as OPEC and its allies are preparing to increase the supply of crude into the global market. The US oil majors’ increases […]
Analysis of the Fourth-Largest Crude Oil Producer in OPEC – Eurasia Review
Fourth-Largest Crude Oil Producer In OPEC – Analysis – Eurasia Review Iran was the fourth-largest crude oil producer in OPEC in 2023 and the third-largest dry natural gas producer in the world in 2022.1 It holds some of the world’s largest deposits of proved oil and natural gas reserves, ranking as the world’s third-largest oil and […]
API Data Shows Significant Increase in U.S. Crude Oil Inventories
API data reveals huge rise in US crude oil inventories Crude oil inventories in the US rose by 10.9mbbl during the week ended 4 October, data from the API showed. The body, the largest US trade association for the oil and gas industry, reported that gasoline inventories fell by 557,000bbl. Meanwhile, distillate inventories also declined […]