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Oil futures surged in New York after Iran said it started attacks on an Iraqi airbase that hosts U.S. troops. Spot gold also jumped. West Texas Intermediate crude jumped as much as 4.4% to $65.48 a barrel on the New York Mercantile Exchange after Iran’s state television reported the country started operation “Martyr Soleimani” at
Brent is trading in the neighborhood of $70 per barrel, a price not seen since the spring of 2019. The unexpected assassination of one of the most important figures in the Iranian government set off fears of a hot war between the U.S. and Iran. Iran has vowed revenge. Trump has vowed more attacks, including potential
Chevron has pulled all of its American oil workers out of Iraq, the company said on Monday, according to Reuters, making it the latest foreign oil company to evacuate staff there at the urging of the US Embassy, following the killing of Iranian Quds Force leader Qassem Soleimani. Chevron operates in Iraq’s Kurdistan region, much to the irritation
U.S. drilling activity continued to contract in the fourth quarter, and the sense of gloom among shale drillers in Texas remains palpable. The latest data from the Dallas Federal Reserve shows that the business activity index – a broad measure that captures conditions in the energy sector in Texas – remained in negative territory, although narrowed slightly
Exxon won’t have to pay a $3-million fine the U.S. Treasury Department imposed on the supermajor for doing business with Rosneft amid a growing load of U.S. sanctions against Russia. The Wall Street Journal reports that a federal judge this week ruled against the fine, which followed the imposition of the first round of U.S. sanctions against
Exxon won’t have to pay a $3-million fine the U.S. Treasury Department imposed on the supermajor for doing business with Rosneft amid a growing load of U.S. sanctions against Russia. The Wall Street Journal reports that a federal judge this week ruled against the fine, which followed the imposition of the first round of U.S. sanctions against
BP has agreed terms to sell its interests in the Andrew area in the central UK North Sea and its non-operating interest in the Shearwater field. BP operates the Andrew assets – comprising the Andrew platform, the Andrew (62.75%), Arundel (100%), Cyrus (100%), Farragon (50%) and Kinnoull (77.06%) fields and associated subsea infrastructure. It holds
Oil buyers in Asia are increasingly wary that Iraq’s entanglement in the worsening dispute between the U.S. and Iran could disrupt shipments from one of their key Middle East suppliers. At least five buyers from China to India said the loss of Iraqi barrels would be particularly challenging because of already-tight supplies of the quality
Equinor has launched new climate ambitions to reduce the absolute greenhouse gas emissions from its operated offshore fields and onshore plants in Norway by 40% by 2030, 70% by 2040 and to near zero by 2050. By 2030 this implies annual cuts of more than 5 million tons, corresponding to around 10% of Norway’s total