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|Bitumen Africa| Sunday, 30 June, 2024 11:00 Oil settle little changed after retreating from a nearly two-month high as traders weighed a swelling supplies against escalating Mideast tensions. West Texas Intermediate crude fell 0.2% to near $81 a barrel. Oil remains locked in a narrow range as markets show rising US supplies and […]
|Bitumen Africa| Saturday, 29 June, 2024 14:00 The first batch of Ugandan oil imports close to the port of Mombasa, ending Kenya is monopoly. Two fleets carrying Uganda's first direct-imported cargo of petroleum products are due to be docked at the port of Mombasa next week, ending the monopoly long enjoyed by Kenyan […]
|Bitumen Africa| Wednesday, June 26, 2024 11:00 Oil dropped as a stronger dollar and weakness in technical measures overshadowed rising geopolitical risks. West Texas Intermediate fell to settle below $81, while Brent crude closed around $85 after settling at the highest since late April on Monday. The US dollar rebounded on Tuesday, making […]
|Bitumen Africa| Monday, June 24, 2024 12:00 More than two dozen of ExxonMobil Corp. Trading staff decline the oil giants offer to transfer to London from Belgium, putting their jobs at risk, according to a union official. A majority of the traders - 25 out of 36 - declined to relocate, according to […]
|Bitumen Africa| Sunday, June 23, 2024 10:00AM There is no longer a single British bank financing the smaller independent oil and gas producers that account for the bulk of output and investment in the North Sea, according to Neptune Energy. “The future of the North Sea is now dependent upon the US banks […]
|Bitumen Africa| Saturday, June 22, 2024 13:00 Oil fell after futures crossed into overbought territory, though crude still notched a weekly gain amid shrinking US stockpiles and signs of rising fuel demand. West Texas Intermediate dropped about 1% to slip below $81 a barrel on Friday. Crude had edged into overbought territory on […]
|Bitumen Africa| Thursday, June 20, 2024 14:00 Could European majors relocate to the United States? If so, would this move have any advantages for them? These were the questions Rigzone posed to several analysts in exclusive interviews, in an effort to better understand the likelihood of such a scenario, as well the benefits. […]
|Bitumen Africa| Tuesday, June 18, 2024 14:00 Oil climbed, building on it's biggest weekly advance since early April and extending a short-covering rally, helped by risk-on sentiment in broader markets. West Texas Intermediate settled above $80 a barrel for the first time in a month, with the again accelerating after prices broke through their […]
|Bitumen Africa| Sunday, June 16, 2024 10:00 AM Uganda more than doubled it's annual budget for the oil and gas industry as it moves closer to the start of production, targeted for the next financial year. The government allocated 920.9 billion shillings ($246 million) to the sector for the year through June 2025, Finance […]
|Bitumen Africa| Saturday, June 15, 2024 15:00 Oil posed the largest weekly gain since April after OPEC+ clarified it's plan to return some output to the market and fuel market's showed signs of strength. West Texas Intermediate settled above $78 a barrel, posting a 3.9% weekly advance. Crude made the bulk of its gains on […]
|Bitumen Africa| Thursday, June 13, 2024, 15:00 Oil rose as risk-on sentiment spurred by cooling US inflation overshadowed an unexpected increase in the country's crude stockpiles. West Texas Intermediate advanced 0.8% close above $78a barrel after US consumer price came in cooler than anticipated. Still, a later report showing rising US crude and gasoline inventories […]
|Bitumen Africa| Wednesday, June 12, 2024 14:00 The EU Union is proposing to sanction Russia's oil_shipping giant Sovcomflot PJSC in a move to limit the Kremlins' ability to finance it's war against Ukraine, according to a document seen by Bitumen Africa. State-owned Sovcomflot, the largest shipping company in Russia, has been one of the […]
|Bitumen Africa| Monday, June 10, 2024 14:00 AM Oil rose 3% to settle near $78 a barrel, recouping losses from last week's sell off as trader's piled back into the commodity. US crude followed broader market's higher. News of additional sanctions on Iran's shipping sector also supported prince's, Which last week slumped to a four_month […]
|Bitumen Africa| , June 0Wendy4, 2024 12:00AM Under pressures from Greece's navy, traders of Russian oil have found a new place to switch cargoes of crude in the Mediterranean sea, a sign of how hard it will be to clamp down on an activity that has alarmed regulators and European governments alike. Tankers hauling […]
|Bitumen Africa| Sunday, June 2, 2024 16:00 am An oil tanker holding Russia crude oil off the coast of Ghana is finally unloading the cargo after a three month wait. The Suezmax class-tanker Snow Lotus is discharging about 1 million barrels off Lukoil PJSCs Varandey crude, exported from the Arctic Sea, at Tema in […]