A two-foot-wide pipe connecting the Mobil oil company’s Idoho offshore platform to a terminal near Nigeria’s eastern border ruptured in January 1998, spewing crude oil directly into the Atlantic Ocean.
The American Petroleum Institute (API) on Tuesday reported an increase of 4.850 million barrels in the U.S. crude oil inventories for the week ending June 7.
India’s Sikka Ports and Terminals Ltd, which handles crude oil and refined products for Reliance Industries Ltd, closed berthing of vessels at its western Indian port on Wednesday due to a cyclone warning.
China has been searching for new alliances and trade partners due to the effects of a sustained trade dispute with the US.
Sanford C. Bernstein & Co. has a simple prescription to cure what ails PetroChina Co’.s share price: do less national service and pay more attention to investors.
Dubai’s discount to Brent narrowed mid-morning in Asia Wednesday, as a build in US inventories pushed the crude oil complex lower.
China’s appetite for US crude oil seems unlikely to show any meaningful recovery in the second half of 2019 amid prolonged Washington-Beijing trade tension.
Saudi Arabia’s proved oil reserves are 11% higher than previously thought at close to 300 billion barrels, according to the latest estimates by BP, after the world’s top oil exporter provided new details on the make-up of its giant oil and gas reserves.
Oil prices fell more than 1 percent on Wednesday, weighed down by a weaker oil demand outlook and a rise in US crude inventories despite growing expectations of ongoing OPEC-led supply cuts.
Pan Ocean Oil Corp., a Nigerian oil-exploration and production company, plans to commission an underground pipeline buried beyond the reach of thieves who siphon off an estimated 100,000 of crude a day.