USA Crude Oil Stocks Drop Almost 8MM Barrels WoW
Crude oil stocks, not including the SPR, stood at 445.0 million barrels on May 15, according to the EIA's latest weekly petroleum status report.
UK to Close Oil Tax Loophole
Chancellor of the Exchequer Rachel Reeves said the UK is closing a tax loophole on oil and gas companies.
ExxonMobil, QatarEnergy Eye Egypt Facilities for Potential Cyprus Gas
Exxon Mobil and QatarEnergy signed an MoU with Egypt to assess the potential of developing natural gas discoveries in Cyprus through the North African country's existing infrastructure.
EIR Says Qatari LNG Outage Will Shift Gas Market to Deficit
Enverus Intelligence Research outlined that the Qatari LNG outage will shift the global gas market into a structural deficit.
Oil Exerts Influence Well Beyond Energy Market
Oil continues to exert an influence well beyond the energy market itself, Ole Hansen, Saxo Bank's Head of Commodity Strategy, said.
Ithaca Completes Acquisition in Shell Discovery, Farms Down Fotla
The UK producer completed the purchase of a 50 percent stake in two Shell licenses in the West of Shetland Basin, while entering into an agreement to sell part of its ownership in the Fotla project in the North Sea to Harbour Energy.
Equinor, Aker BP Agree Stakes Swap in North Sea, Barents Sea
'The parties will seek alignment on key areas of joint interest on the Norwegian continental shelf, with the aim of speeding up the development of resources to uphold high production levels and unlock value'.
First Oil Tanker to Exit Hormuz since War Expected in Japan
Japan - one of Asia's biggest importers of energy from the Middle East - flagged the impending arrival of the first Persian Gulf oil shipment to transit the contested Strait of Hormuz since the Iran war began.
