- — CNOOC’s Q1 profit down 7.9% on weaker oil prices, but output grows
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at 4/29/25 3:00pmChinese offshore oil and gas major CNOOC Ltds first-quarter net profit fell 7.9%, weighed down by weaker oil prices, though higher output helped stem the decline. Net income for January-March was 36.56 billion yuan ($5.03 billion), versus 39.7 billion yuan in the same period last year, according to a company filing with the Hong Kong ...- — PetroChina’s first-quarter profit up 2.3%, boosted by natural gas sales
- at 4/29/25 3:00pmChinas top energy producer PetroChina 601857, 601857 posted a 2.3% rise in first-quarter profit on Tuesday, citing higher natural gas output, even as poor margins weighed on the refined product business. Profit attributable to owners of the company rose to 46.81 billion yuan ($6.44 billion) from 45.77 billion a year earlier, a filing with the ...
- — First quarter 2025 results
- at 4/29/25 3:00pmHighlights Resilient financial performance: 1Q25 underlying RC profit $1.4bn; dividend per ordinary share of 8 cents; $0.75bn share buyback. Delivering strong operations: 1Q25 upstream plant reliability* 95.4%; 1Q25 refining availability* 96.2%. Growing upstream: Safely started up three major projects*; six exploration discoveries. Executing our strategy at pace: Good progress on our divestment programme, including the ...
- — Former Shell oil traders set up trading house with focus on Africa, sources say
- at 4/29/25 3:00pmSeveral former traders from oil major Shell have set up trading house Atmin, backed by Afreximbank, to focus on African oil trading, two trading sources familiar with the development said. The move takes place as oil majors and Western banks retreat from Africa and the continent is facing a decline in oil and gas production ...
- — Middle East Crude-Benchmarks extend declines; Dubai, Murban at seven-week low
- at 4/29/25 3:00pmMiddle East crude benchmarks extended their downward trend on Tuesday, spot premiums for Dubai and Murban fell to their lowest in seven weeks. Sell-offs continued among investors who eyed rising supplies after reports of OPEC+ considering another output hike in June, amid demand worries driven by the Sino-U.S. trade war. SINGAPORE CASH DEALS Cash Dubais ...
- — Markets shrug off Russia’s three-day ceasefire proposal as Ukraine peace process stalls
- at 4/29/25 3:00pmOil markets proved largely unreactive to a Russian pledge to enact a three-day ceasefire in Ukraine next month, as US President Donald Trump has expressed frustration at piecemeal proposals and made relaxed sanctions measures look less likely. A statement from the Kremlin on April 28 announced a three-day ceasefire in Ukraine from May 8 to ...
- — Barclays cuts 2025 Brent crude forecast on trade tensions, OPEC+ shifts
- at 4/29/25 3:00pmBarclays lowered its Brent crude forecast on Monday by $4 to $70 a barrel for 2025 and set its 2026 estimate at $62/b, citing a rocky road ahead for fundamentals amid escalating trade tensions and OPEC+s pivot in its production strategy. Despite oil market fundamentals evolving significantly better than expected in early 2025, the bank ...
- — Afreximbank launches $3bn fund to fuel Africa’s refineries
- at 4/29/25 3:00pmAfrican Export-Import Bank has rolled out a $3 billion revolving credit line that will enable African and Caribbean buyers to source petrol, diesel, jet fuel and other products from refineries on the continent more easily. The bank expects the facility to provide $10–14 billion of trade finance over its first three years and help chip ...
- — Oil falls as economic jitters dampen demand outlook
- at 4/29/25 4:00amCrude oil prices fell on Tuesday as investors lowered their demand growth expectations due to the ongoing trade war between the United States and China, the worlds two biggest economies. Brent crude futures fell by 51 cents, or 0.8%, to $65.35 per barrel by 0635 GMT. U.S. West Texas Intermediate crude futures fell 50 cents, ...
- — China’s crude oil storage surged in March, reversing earlier draw
- at 4/29/25 4:00amChinas refineries processed the most oil in a year in March, but the volume of crude being added to inventories still rose to the highest in nearly three years as imports surged. Chinas surplus crude amounted to 1.74 million barrels per day (bpd) in March, the most since June 2023, according to calculations based on ...
- — India’s Q2 oil demand outlook robust, but tariffs keep product exporters on edge
- at 4/29/25 4:00amIndia will likely see robust growth in oil product demand in the second quarter, led by wedding season, summer holiday travel and agricultural activity, however, uncertainty related to trade policies and tariffs could cast a shadow on exports, analysts and trade sources told Platts. The 10-month high domestic oil products consumption seen in March will ...
- — Survival of the fittest: European refiners jostle to outlast closures
- at 4/29/25 4:00amFor years, European refiners have been preparing for a cull. Now, as the first shutdowns have begun, investors are betting on which sites can survive, hoping for a brief bump in margins in reward. As Europe has pushed to decarbonize, the outlook has clouded for its fossil fuel business. European gasoil demand peaked in 2017, ...
- — Investors worry Big Oil could reduce share buybacks as crude prices slump
- at 4/28/25 3:00pmWhen Exxon Mobil XOM and Chevron CVX report first-quarter results this week, investors will be focused on how falling oil prices have increased the risk to dividends and share repurchases for the rest of 2025. Big Oil has made returning cash to investors through dividends and share repurchases a strategic cornerstone of its efforts to ...
- — Oil forecasts slashed amid fear of ‘impending global economic slowdown’
- at 4/28/25 3:00pmOil price forecasts are tumbling as analysts hike their bets on weaker demand in the remainder of 2025 linked to U.S. trade tariffs, and a prevailing climate of economic uncertainty. U.S. benchmark West Texas Intermediate (WTI) (CL=F) hit a recent peak above US$80 in mid-January, days before U.S. President Donald Trump took office for his ...
- — Investors fear Big Oil could cut share buybacks as crude prices slump
- at 4/28/25 3:00pmWhen Exxon Mobil (XOM.N), and Chevron (CVX.N), report first-quarter results this week, investors will be focused on how falling oil prices have increased the risk to dividends and share repurchases for the rest of 2025. Big Oil has made returning cash to investors through dividends and share repurchases a strategic cornerstone of its efforts to ...
- — Middle East Benchmarks fall; Dubai hits 7-week low
- at 4/28/25 3:00pmMiddle East crude benchmarks fell on Monday, with spot premium of Dubai sliding to the lowest in over seven weeks amid expectations of OPEC+ raising supply. Sell-offs in Dubai prices started late last week, amid signs suggesting another possible output hike in June, and as Kazakhstan says it will prioritise national interests over those of ...
- — Oil prices edge higher amid economic uncertainty, OPEC+ supply fears
- at 4/28/25 4:00amOil prices inched higher on Monday though remained dogged by uncertainty over trade talks between the U.S. and China, clouding the outlook for global growth and fuel demand, while the prospect of OPEC+ raising supply cast more gloom. Brent crude futures were up 21 cents, or 0.3%, at $67.08 a barrel, as of 0742 GMT. ...
- — Oil prices are likely to stay volatile in the short term
- at 4/28/25 4:00amKazakhstan has been a constant overproducer within the OPEC+ group, and its compliance level has deteriorated with the start of the Tengiz oil field. The oil field generates substantial tax revenues for the country, and the largest Kazakh oil fields are run by international oil companies, making it harder to implement production reductions. But other ...
- — The oil industry nervously stands by: Tariff uncertainty and price volatility are threats to supply, investment and the service sector
- at 4/28/25 4:00amProducers are preparing for potential further declines, with investment in the US Lower 48 tight oil sector particularly responsive. If prices plummet to US$50/bbl, up to 1.2 million barrels per day could be at risk by 2026. Wood Mackenzie’s report, Is oil price volatility a threat to upstream production, investment and supply chains? offers an ...
- — US shale patch slows down as oil prices sink
- at 4/28/25 4:00amSome small U.S. shale producers are putting the brakes on oil drilling as crude prices sink to multi-year lows and steep tariffs drive construction costs higher. Less drilling could slow future output growth from the worlds top oil producer. Total U.S. production is forecast to reach a new record this year at 13.7 million barrels ...
- — US drillers add oil and gas rigs for second week in a row, Baker Hughes says
- at 4/27/25 3:00pmU.S. energy firms this week added oil and natural gas rigs for a second week in a row for the first time since February, energy services firm Baker Hughes said in its closely followed report on Friday. The oil and gas rig count, an early indicator of future output, rose by two to 587 in ...
As of 4/30/25 5:01am. Last new 4/29/25 4:24pm.
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