Fire Breaks Out at Pemex Facility in the Gulf of Mexico, 5 Injured so Far

The Mexican state oil and gas firm Petroleos Mexicanos (Pemex) announced Sunday that at least five people were injured in the fire incident at their facility in the southern Gulf of Mexico. Pemex said in a statement that the fire …

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Colonial Pipeline Hacked, Stops Operation

Colonial Pipeline has shut its entire network after a cyberattack and caused delays in the East Coast fuel supply chain. “In response, we proactively took certain systems offline to contain the threat, which has temporarily halted all pipeline operations, and …

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Oil Approaches US$70 a Barrel on OPEC+ Decision to Not Ease Supply Curbs

Oil has now approached $70 a barrel after the Organization of the Petroleum Exporting Countries (OPEC) and non-OPEC countries decided not to ease supply curbs despite recovery of oil prices amid the pandemic. “The Ministers approved a continuation of the …

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Crude Oil Prices Spike as Supply Chain Fails

Brent Crude continued to climb higher on Thursday, with US prices settling at $61.52 as refineries in Texas remained closed during the Midwest’s freeze out. Brent Crude (BRN00) is up today at $64.40 (+0.17%), marking gains of $10 in just …

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Norway’s Supreme Court Rules in Favor to More Oil Drilling in the Arctic

Norway’s Supreme Court ruled in favor of the government on Dec. 22, allowing oil drilling in the Arctic region to continue and dismissing the lawsuit by environmental groups on the grounds of the constitutional right to a healthy environment.

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Iranian Regime Prepares to Increase Oil Exports if the US Eases Sanctions

The Iranian regime has instructed its oil ministry to prepare installations or production and sale of crude oil at full capacity within four months, ahead of a possible easing of US economic sanctions after President-elect Joe Biden formally takes office.

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