Oil prices edged up on Friday but were headed for a second weekly decline as the continued US focus on its blockade and economic pressure on Iran eased fears of renewed fighting in the Middle East, though shipping attacks remained a supply risk.Brent futures LCOc1 were up 53 cents, or 0.55%, to $96.35 a barrel at 0900 GMT. US West Texas Intermediate (WTI) futures CLc1 added 20 cents, or 0.23%, to $88…
The Maritime and Port Authority of Singapore (MPA) has opened applications for licenses to operate up to two liquefied natural gas (LNG) floating storage units (FSUs) in Singapore anchorages, aiming to expand LNG bunkering capacity and strengthen supply resilience…
Oil prices fell on Tuesday, extending losses from the previous session after US President Donald Trump downplayed the need for additional military action against Iran 'at this point,' easing fears of sustained supply disruptions from the Middle East…
Often overshadowed by the towering jackup and ultra-deepwater floating rig fleets that dominate offshore headlines, tender-assist rigs are enjoying a resurgence in Southeast Asia. While they represent a relatively small niche of the global offshore drilling market…
Saudi state oil giant Aramco is working to expand a crude pipeline that circumvents the Strait of Hormuz as the world continues to experience the biggest energy supply shock in history, CEO Amin Nasser said on Tuesday.The effective blockade of the chokepoint that links the Gulf to world markets…
Big Oil is reaping near record cash windfalls from the eight-month-old Iran war, but Western energy producers’ reluctance to ramp up spending reveals persistent doubts about the industry’s long-term outlook.BP, Chevron, Exxon Mobil, Shell and…
An oil spill from a damaged tanker off the coast of the United Arab Emirates has widened, satellite images showed, triggering more beach closures and raising environmental concerns.Images from the European Union's Copernicus satellite observation…
Singapore's Seatrium has secured an agreement with Keppel's subsidiary RigCo to complete construction work on four offshore drilling rigs under an existing master services arrangement, with the total estimated contract value exceeding $390 million (S$500 million)…
Oil markets initially treated the Iran war as a brief bullish disruption in a long-term bearish trend. But traders are now betting that oil prices will remain elevated through 2028, forcing a rethink of the global inflation outlook.Eight months into the war…
Several top energy executives were dropped from the schedule of the WPC Energy Congress in Riyadh, as Saudi authorities pressed ahead with the event despite deadly attacks on the capital claimed by Yemen's Iran-aligned Houthis.The chief executives of ExxonMobil…
Iran is still reviewing a US response to its proposal regarding the reopening of the Strait of Hormuz and will reply to Washington via intermediaries when the review is over, foreign ministry spokesperson Esmaeil Baghaei said on Monday.Baghaei…
Oil prices settled lower on Wednesday following a choppy session after the International Energy Agency agreed to speed up a release of oil stocks and prioritize diesel in a bid to curb record-high fuel prices as the Iran war squeezes global supplies…
Oil prices climbed on Wednesday as the market weighed supply constraints from a storm heading for US oil-producing regions and attacks by Yemen's Iran-backed Houthis on Saudi Arabia against increased supplies of Middle East crude.Brent futures LCOc1 rose 81 cents…
Shipping bottlenecks, deep cuts in refinery output and inventory draws that could take years to replace will keep global oil prices high beyond this year, industry executives said at a conference in London on Monday.Following the start of the US-Israeli war on Iran at the end of February…
The Strait of Hormuz will not reopen until seven Iranian conditions set out in a June interim agreement with the US are met, state media reported Iran's parliament speaker Mohammad Baqer Qalibaf as saying on Sunday.Iran presented a proposal…
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