Canadian-based, Latin American-focused oil and gas company Frontera Energy said on Monday it will acquired the 36.36% outstanding share in Pacific Midstream from the International Finance Corporation and other related funds.
Geopolitics tensions in the Middle East continued to support crude futures, with U.S. oil prices nearly rising to a six-month high on Monday following concerns Iraqi and Kurdish forces could ignite in a civil war.
UK’s engineering consultant Petrofac has won a three-year, undisclosed contract with Gazprom Neft to provide engineering services on a call-off basis for the Kurdish onshore Garmian oilfield, Kallanish Energy learns.
Despite a more moderate-than-expected growth, U.S. oil supply is forecast to grow by 6% in 2018, compared to 2017 – an increase only smaller than the 11.16% expected for the Asia Pacific region, OPEC said Wednesday.
Global oil demand and production from non-OPEC countries will grow by roughly the same volume in 2018, potentially putting a ceiling on higher oil prices, the International Energy Agency (IEA) warned on Thursday.
Most U.S. households can expect higher heating bills this winter (October through March) than the last two winters, according to the Energy Information Administration’s just-released Winter Fuels Outlook.