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Oil and gas firm Harbour Energy plans to cut 100 offshore jobs - BBC News
The UK's largest oil and gas producer plans to cut about 100 offshore jobs, it has announced. Harbour Energy has already reduced its onshore workforce by about 600 since 2023. The company, which has a base in Kingswells, Aberdeen, said the latest…
Gulf Energy Gets Kenya Tax Breaks for Tullow's Former Oil Fields
Kenya agreed to grant tax breaks and allow higher recovery costs to an energy trading firm that acquired Tullow Oil Plc 's blocks in the East African country to accelerate development of the project whose output is planned for next year.
US futures slip and Asian stocks are mixed, while oil prices surge more than $1 a barrel
BANGKOK -- Asian shares began the week mixed, with Tokyo's benchmark falling nearly 2% on Monday after the release of data showing weak factory activity, while U.S. futures fell. Oil prices surged more than $1 a barrel. In Japan, the Nikkei 225…
OPEC+ Hits Pause As Global Oil Surpluses Threaten 2026 Prices
Russia's President Vladimir Putin shakes hands with OPEC Secretary General Haitham Al Ghais during the Saint Petersburg International Economic Forum (SPIEF) in Saint Petersburg on June 20, 2025. The 28th edition of Saint Petersburg International…
Third Russia-Linked Oil Tanker Suffers Explosions at Sea
An oil tanker carrying diesel suffered four external explosions near Dakar, Senegal, its manager said, the third vessel with links to Russia to have been struck over the last few days. Seawater entered the engine room of the Mersin, Besiktas…
OPEC+ Holds Fire, Maintains Oil Production Pause To March 2026
The logo of the Organization of the Petroleum Exporting Countries seen outside its secretariat in Vienna, Austria. (Photo: Danil Shamkin) Oil producers' group OPEC+ maintained its plan to keep crude output levels unchanged until March 2026 at its…
Nakhle: No Sudden Flow as Russian Oil Never Left Market
Oil rose after OPEC+ confirmed it will stick with plans to pause production hikes during the first quarter, while traders weighed the fallout from President Donald Trump's rhetoric around Venezuela. Meanwhile President Trump continues to push for a…
Oil Higher; Russia-Ukraine Peace Talks in Focus
0209 GMT — Oil is higher in early Asian trade. Markets continue to focus on the progress of Russia-Ukraine peace talks, Nanhua Futures analysts in a commentary. Strict sanctions imposed by the U.S. on Russian energy companies have provided…
There's Too Much Oil. Who Are the Winners and Losers?
Oil prices have been falling as the market faces the prospect of a growing surplus. This year is set to culminate in the first major glut since 2020. The International Energy Agency forecast in November that global supply will outweigh demand by…
Opec+ says 'all is fine in oil' but uncertainty rises
AT first glance the decision by the Organisation of the Petroleum Exporting Countries and its allies (Opec+) to leave oil output levels unchanged for the first quarter of next year could be viewed as confirmation the exporter group is concerned…
India Picks Up Non-Sanctioned Russian Oil as Discounts Widen
India's state-run refiners Indian Oil Corp. and Bharat Petroleum Corp. have bought Russian crude for January delivery, lured by discounts and plentiful supplies from non-sanctioned sellers, according to people familiar with the matter. The…
Canada to Boost Output of Trans Mountain Oil Pipeline Before Selling It
The Canadian government will likely look at selling equity in the state-owned Trans Mountain oil pipeline only after steps are taken over the next few years to maximize its output, Energy Minister Tim Hodgson said. The government purchased the…
Ukraine's underwater drones hit 2 Russian oil tankers in Black Sea
Ukrainian underwater drones have struck two tankers belonging to Russia's so-called shadow fleet in the Black Sea, a Ukrainian security official has confirmed -- marking the latest escalation in Kyiv's campaign to disrupt Moscow's oil exports, CNN…
OPEC+ to suspend oil output increase
VIENNA, Nov. 30 (Xinhua) -- The Organization of the Petroleum Exporting Countries (OPEC) and its allies, known as OPEC+, have decided to pause oil output increases in January, February and March 2026 due to seasonality, OPEC said in a statement on…
Oil rises 2% on OPEC+ output plan, supply worries
PERTH/SINGAPORE: Oil prices climbed 2% on Monday after OPEC+ members reaffirmed a plan to hold output steady and as the Caspian Pipeline Consortium halted exports after a major drone attack and U.S.-Venezuela tensions raised concerns about supply.
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