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...China relies on Iran for about a tenth of its oil imports but processes the oil not through its state-owned oil and gas companies but through smaller, private, refineries....
...The vessels, which are North Korean-flagged and classified as oil products tankers, all visited the same berth operated by a Russian oil company at Vostochny Port, where they appeared to load....
...The US government has imposed sanctions on companies accused of shipping or trading Russian oil in violation of western rules but is yet to target an individual for involvement....
...“Eighty per cent of the consumption of hydrocarbons [oil and gas] by 2050 is going to be in the Global South. Today it is 40 per cent in the Global North and 60 per cent in the Global South....
...Ithaca Energy has agreed a deal to acquire almost all of Eni’s UK oil and gasfields in a transaction worth about £750mn that will turn the London-listed company into one of the North Sea’s largest producers...
...In 2022, the company turned a net profit of around $6bn for the first time in a decade thanks to higher oil prices and a reduced tax burden....
...Van Beurden spent 39 years at the oil major. Daniel Berenbaum joins US fuel cell company Bloom Energy as chief financial officer, succeeding Greg Cameron....
...The short-term swings on Friday showed the markets were in an “agitated” state, said Viktor Katona, head of oil analysis at Kpler, an energy data and research company....
...The UK’s decision to slap oil and gas producers with a windfall tax in 2022 prompted warnings that the North Sea faced being taxed “to death”....
...Emembolu most recently worked as chief of staff to Looney and then Auchincloss after previously running BP’s business in the North Sea....
...The crude price calm in the face of this turmoil owes much to events 7,000 miles away in the shale fields of North Dakota and west Texas, where drillers have left global markets awash with American oil....
...He says his family has owned farm land in Mississippi for nearly 100 years and he wants to continue that tradition. ‘In Mississippi, your land is your legacy....
...Mindful of the risk that fresh sanctions on Venezuela might push up oil prices in a US election year, Washington will allow US major Chevron to continue a joint venture with Venezuela’s national oil company...
...The deal would make Ithaca one of the biggest independent oil producers in the North Sea and could spur further consolidation, as companies seek scale to fund investment and the cost of decommissioning legacy...
...New drilling techniques have opened up access to enormous oil and gas reserves in North America....
...What is striking is that shares in US-listed gas-focused exploration and production companies have performed surprisingly well year to date....
...Land owners are suing a Denver-based oil and gas company, alleging it systematically avoided cleaning up old operations, in a case that spotlights the prospect of US taxpayers shouldering billions of dollars...
...That has obvious implications for oil,” he said....
...In his Budget on Wednesday, Hunt announced an extension of the Energy Profits Levy on oil and gas companies by 12 months despite opposition from Scottish Conservatives....
...The revision comes after the company pledged to devote a higher proportion of spending to oil and gas last year, and other oil groups such as BP have slowed their retreat from oil....
...At the upcoming general election, the Scottish Conservatives are seeking to retain and target seats in the north-east of Scotland, where the economy is dependent on the North Sea oil and gas industry....
...Houthi shipping attacks in the Red Sea have led to a jump in oil stuck on ships. Pemex, Mexico’s state-owned oil company, is curbing exports as part of a self-sufficiency push....
...Among companies taking advantage is London-based oil supply company Prax Group, which in December agreed to buy a 37.5 per cent stake in the PCK refinery in Schwedt, north-east Germany, from Shell....
...Brent Berg, president and chief executive of Rare Element Resources, a minerals company, will join Uranium Energy Corp, a North American uranium company, as senior vice-president of US operations....
...The chief executive of Ithaca Energy has quit the North Sea oil and gas producer, exiting as the group tries to rebound from a lacklustre first year as a public company....
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