Oil gas

US sanctions on Iran tighten supply, set to drive crude prices higher

Tightening the oil supply from Iran could provide much-needed support to oil prices in the short term. According to a Bloomberg report on Monday, Iranian crude exports to China have been disrupted by broader US sanctions on tankers carrying barrels f...

Geothermal energy could supply 15% of global electricity demand growth, says IEA

The shale oil drilling techniques which led to a boom in oil and gas production could be used to develop geothermal energy, and meet up to 15% of global electricity demand growth by 2050, the International Energy Agency said. “With continued technolo...

Could Africa Oil's Recent Moves Reshape Its Market Presence?

Highlights,Africa Oil Corp participates in a share repurchase program across multiple trading platforms.,Scotia Capital Inc. and Pareto Securities manage the buyback transactions.,The repurchase activities took place during a specified period in Dece...

Why Is 88 Energy Expanding Its Reach in Alaska’s Resource Sector?a

Highlights:,88 Energy Ltd has acquired four additional leases in Alaska, expanding its Project Leonis holdings.,The new leases cover over 10,000 acres, increasing the company’s total acreage to over 35,000 acres.,Ongoing seismic studies and advanced...

What Does VAALCO Energy’s Latest Drilling Deal Mean for Gabon’s Future?

Highlights:,VAALCO Energy has secured a contract for its drilling campaign in Gabon, set for mid-2025.,The program will focus on multiple development, appraisal, and workover wells across key fields.,The drilling campaign includes a targeted effort t...

Why Is Antero Resources Gaining Attention After UBS Group's Latest Move?

Highlights:,UBS Group raised its price objective for Antero Resources .,The updated price target reflects a 12.72% upside from the current stock price.,Antero Resources is involved in the oil and natural gas sector.,Antero Resources,(NYSE:AR),is a pr...

What’s Behind APA’s Changing Stock Price Targets?

Highlights,APA Corporation has received multiple target price reductions from various research firms.,Price targets for the stock have been adjusted downward, reflecting changes in market conditions.,The company has a mix of ratings, with different f...

Explained: How will OPEC’s latest output cut extensions affect oil market balance in 2025?

The oil market is still expected to be abundantly supplied next year even after OPEC+ extended steep production cuts till the end of March.  On Thursday, the Organization of the Petroleum Exporting Countries and its allies decided to delay the p...

Long WTI: strong bullish momentum builds as prices rebound from key support amid positive market indicators

Interview: Gasoline demand in China may peak in 2025, says Vortexa’s Emma Li

Crude oil demand in China has been a hot topic of discussion for most of 2024 with fuel consumption likely to remain subdued in the coming months as well.  The primary reason for lower demand in China has been declining processing rates in refin...

GeoPark (NYSE: GPRK) Acquires $530 Million Oil and Gas Assets from Repsol in Colombia

Highlights:,GeoPark secures a 45% non-operated stake in CPO-9 and a 25% interest in Llanos Norte, producing approximately 16,000 boepd.,The $530 million acquisition, funded with cash and a $345 million debt facility, aligns with GeoPark's strategic g...

Trump’s plan to ramp up US gas exports and oil drilling: what to expect

US President-elect Donald Trump is putting together a wide-ranging energy package that would be rolled out within days of his taking office, Reuters reported on Tuesday.  The package would be designed to approve export permits for new liquefied...

Crude oil price analysis: how high can Brent rise?

Crude oil prices ended the week in green; reversing some of the losses recorded over the previous two weeks. Notably, optimism that China’s oil demand is improving has contributed to this rebound. Escalation of the Russia-Ukraine war further bolstere...

Crude Oil Prices Dip as Global Market Signals Weigh on Oil Refineries Ltd

Highlights,-Crude oil prices dip after unexpected rise in EIA crude inventory.,-Gasoline prices hit a one-month high despite mixed market conditions.,-Weakened demand in China and rising U.S. gasoline inventories weigh on crude.,Crude oil prices retr...

US oil inventories rise less than expectations, indicating robust local demand

Crude oil inventories in the US rose last week as imports surged in the week ended November 15, the Energy Information Administration (EIA) said.  US’ crude inventories rose by 500,000 barrels last week to stand at 430.3 million barrels, accordi...

Why is inflation in Nigeria rising so quickly?

Inflation in Nigeria has accelerated at a troubling pace, reaching 33.9% year-on-year in October, up from 32.7% in September. This marks one of the steepest rises in recent months, raising questions about the underlying drivers of this inflationary t...

UK Oil & Gas PLC Undertakes Equity Raise to Expand Hydrogen Storage Portfolio

Highlights:,£500,000 Equity Raise:,UK Oil & Gas PLC (LSE:UKOG) raises capital to acquire a hydrogen storage site in East Yorkshire and secure related intellectual property.,Strategic Hydrogen Focus:,The acquisition aligns with UK government’s East Co...

Oil prices head for a weekly loss: will risks to Iran’s supply push prices higher?

Oil prices were headed for a weekly loss on Friday as concerns over weakening demand from China weighed on prices.  For the week, Brent prices on the Intercontinental Exchange were down by 3% from last week. In the case of West Texas Intermediat...

Why Is Victory Capital Expanding Its Stake in Delek US?

Highlights,Victory Capital Management Inc. increased its ownership in Delek US Holdings, Inc. during the third quarter.,The fund now owns over five percent of the oil and gas company's total shares.,The oil and gas sector remains a focal point for in...

IEA forecasts oil demand growth below 1 million barrels per day for 2024 and 2025

The slowing of oil demand growth in recent years reflects the end of the post-pandemic release of pent-up demand, the International Energy Agency said on Thursday.  The slowdown in demand growth also reflects underlying global economic condition...