Rigzone Oil & Gas Headlines
- Russia's oil revenue slumped to a six-month low in August.
- Oil ended a volatile week 9.7% higher as renewed US-Iran fighting kept Hormuz supply risks elevated.
- U.S. retail diesel rose to a record.
- The world's second-largest ocean hasn't been this docile since 1941.
- EIR director Andy McConn said 'Vaca Muerta's growth potential and low-cost competitiveness are a rare combination in today's upstream market'.
- Analysts at BMI revealed that their base case still assumes a preliminary agreement to reopen the Strait of Hormuz by the end of the third quarter.
- WTI settled above $91 as fresh Iran strikes offset signals of easing market tightness.
- RRC Commissioner Wayne Christian hailed an 'oil theft bust' stemming from a multistate investigation as a 'victory for Texas oil and gas'.
- Refiners in India and China, the world's two biggest oil importers, are stepping up spot purchases of Middle Eastern crude.
- Chevron Corporation announced that its joint ventures in Venezuela plan to invest more than $7 billion over the next five years.