Vietnam has cancelled a major oil project in the South China Sea for the second time in a year, in the wake of Chinese pressure, the BBC has learned. State-owned PetroVietnam ordered Spanish energy firm Repsol to suspend a project off the south-east coast, a well-placed industry source said. Source: BBC
Talks between Exxon Mobil (XOM.N) and Iraq on a multi-billion-dollar infrastructure contract have reached an impasse, Iraqi officials and two industry sources said, in a potential setback to the oil major’s ambitions to expand in the country. Source: Reuters
Since 2015, when oil hovered around 35 and 40 dollars a barrel, the Gefira team has explained to their paid subscribers that oil will be back at 100 dollars by 2020.
Oil futures jumped more than 2 percent on Wednesday on a decline in U.S. crude inventories and after sources signaled top exporter Saudi Arabia wants to see the crude price closer to $100 a barrel. Source Reuters
Eni plans “billions” of investments in Algeria over the next three years, the company’s CEO said on Tuesday, as the Italian energy firm said it had agreed to extend its partnership with Algerian state firm Sonatrach. Source: Oil Price
