Tag: oil prices

• Saturday, March 21st 2020 - 09:02 UTC

  Falklands Sea Lion project: Rockhopper and Premier confident of farm out with US/Israel Navitas

  

  Rockhopper Exploration, a partner in Premier Oil-operated Sea Lion offshore oil project in the Falkland Islands, is confident it will manage to farm-out a share in the project despite the low oil prices and COVID-10 uncertainty. The two companies in January signed non-binding heads of terms with US/Israel Navitas Petroleum, which should lead to Navitas obtaining a 30% interest in the Sea Lion offshore blocks.

• Wednesday, March 11th 2020 - 08:49 UTC

  Oil prices with slight recovery on Tuesday but market volatility remains

  

  Oil, which plunged about 25% on Monday, rebounded on Tuesday along with equities and other financial markets. Brent futures rose US$2.69, or 7.8%, to US$37.05 a barrel by 2:24 p.m. EDT (1824 GMT), while U.S. West Texas Intermediate (WTI) crude rose US$2.73, or 8.8 percent, to US$33.86.

• Monday, March 9th 2020 - 08:55 UTC

  Oil prices plunge 30% after OPEC fails to agree on production cuts; Russia clashes with Saudi Arabia

  

  Oil prices plunged 30% in early trading after OPEC’s failure to strike a deal with its allies regarding production cuts caused Saudi Arabia to slash its prices as it reportedly gets set to ramp up production, leading to fears of an all-out price war.

• Wednesday, January 29th 2020 - 07:44 UTC

  Guyana rapidly becoming an oil major: 16th discovery in four years of exploration

  

  ExxonMobil today announced its 16 discovery in the Stabroek Block, located off the Guyanese coastline. The Texas-based company announced that it encountered 29 meters of high-quality oil-bearing sandstone at the Uaru well.

• Monday, January 27th 2020 - 08:03 UTC

  Deadly China virus impacts on oil prices while safe havens assets rally

  

  Fears over the global economic impact of the deadly China virus sent oil prices plunging more than on Monday to extend last week's sell-off, while safe-haven assets including the yen and gold rallied.

• Wednesday, November 6th 2019 - 09:22 UTC

  US crude stockpiles glut forces oil prices down

  

  Oil prices dropped on Wednesday after industry data showed a larger-than-expected build-up in U.S. crude stockpiles, but expectations for an easing of trade tensions between the United State and China capped losses.

• Tuesday, September 17th 2019 - 09:51 UTC

  US markets in the red following attacks on Saudi oil production

  

  US stocks tumbled into the red on Monday as attacks on Saudi crude production and record jumps in oil prices whipped up investor anxieties about the global economy.

• Thursday, May 16th 2019 - 08:24 UTC

  Oil prices edge up on the Iran situation, but inventories are still very high

  

  Oil prices edged up on Thursday to extend gains into a third straight session, as tensions in the Middle East stoked fears of potential disruptions to supply. Brent crude futures were at US$72.04 a barrel at 0110 GMT, up 27 cents, or 0.4per cent, from their last close. Brent closed up 0.7per cent on Wednesday.

• Thursday, April 4th 2019 - 09:41 UTC

  Petrobras finally shows positive results and with strong growth prospects

  

  Petrobras has finally announced a positive annual result, five years after the Lava Jato corruption probe left the Brazilian state-controlled company with spiraling debts. The firm closed the year with a US$ 25.8bn net profit, the highest figure in seven years, and a total of R$20.2bn (US$ 5.27bn) in asset sales.

• Monday, January 28th 2019 - 09:18 UTC

  Oil prices fall on Monday as US crude production is anticipated to increase

  

  Oil prices fell on Monday after U.S. energy firms added rigs for the first time this year in a sign that crude production there will rise further. U.S. spot crude oil futures CLc1 were at US$ 53.37 per barrel at 0027 GMT, down 32 cents, or 0.6 percent, from their last settlement.