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WTI oil has opened lower, the Cl contract dropped briefly under US$75 at the start of trading on Sunday evening US time. Equity indexes on Globex meanwhile are steady.

Oil has been spilling from a well owned by Nigerias Aiteo Eastern E&P and state-run NNPC for two weeks in southern Nigeria, local residents and politicians said on Friday, saying it threatened the environment and local economy. Aiteo said on Nov. 9 an extremely high order oil spill had started on Nov. 5 and that []

NNA - On the eve of Lebanon''s 78th Independence Day, President of the Republic, General Michel Aoun, delivered the following address to the nation: My fellow Lebanese ladies and gentlemen, Here comes Lebanons seventy-eighth Independence Day, and the nation is still drowning in a sea of successive crises that prevent us from celebrating joyfully, but do not keep us from living its meanings. Lebanon and the Lebanese have paid a heavy price to turn Independence from a mere commemoration to a festive occasion, and it is the right - rather the duty - of all of us to hold on to it and seek to fortify it. For the State, Independence means free decision and the protection of the nations interest while preserving the best relations with all States. As for the citizens, independence means empowered and trustworthy State institutions that protect them and ensure their rights while they ensure in turn their obligations towards these institutions. This independence needs a daily strife to preserve it and recover what we have lost, to make a clean break with an exhausting reality against which our nation and our people are struggling.

Coast Guard aircraft and boats were dispatched on Saturday afternoon after an oil sheen of 2,100 square feet was reported off Huntington Beach, where the original rupture occurred.

THE RAC has called on the biggest retailers in the UK to cut the price of petrol as wholesale fuel prices begin to dip. Read more here Daily Express :: Cars Feed ‘This isn’t acceptable’: RAC slams retailers for ‘failing’ drivers over record fuel prices

Highlights The climate change issues present significant opportunities for renewable energy players across Australia. Australia is believed to be emerging as a globally recognised leader in renewable energy with a strong push for adopting renewable sources. Australia has committed a further AU$500 million to enhance climate resilience and drive climate solutions. For years, we have been talking about climate change and the pivotal role that renewables can play in tackling this disastrous challenge. Governments and organisations across the globe have been engaged in research for innovative solutions to curb emissions and achieve a net-zero emission target. The Australian Renewable Energy Agency (ARENA) believes that the energy sector is witnessing a big and complex transformation amid the momentous shift towards renewable energy. On the one hand, dealing with a growing share of renewables and various ways to operate these may be a challenge, while on the other hand, this also exhibits numerous opportunities for businesses to maintain energy cost efficiencies and capturing new sources of development.

TEHRAN The Managing Director of the National Iranian Oil Company (NIOC) has said his company is seeking new win-win strategies for attracting investment in the countrys oil and gas industry, Shana reported.

BREAKING NEWS: Japan weighs oil reserves release: sources ==Kyodo

CNBC Oil prices fell to a six-week low on Friday as new Covid lockdowns sparked demand concerns just as industry players signal a return of supply. But for consumers looking for some reprieve at the pump, the declines aren’t … The post Oil prices fall 4% to six-week low on lockdown worries, but don’t expect much relief at the pump yet appeared first on Oil & Gas 360 .

1. When Will Crude Oversupply Finally Come? - The ongoing US-OPEC public spat continues to revolve around the oil markets immediate prospects, namely its moving into oversupply following several months of global stock draws. - Latest outlooks from OPEC, IEA, and EIA all indicate that markets should flip into oversupply in Q1-2021, with EIA forecasting it would average some 900,000 b/d over January-March. - Whilst OPEC remains ambiguous on its own production strategy for 2022, the energy agencies seem to agree that next year should see higher-than-expected

US and European stock markets fell Friday and the euro slumped as Austria announced a new strict lockdown to try to curb surging Covid cases, triggering heavy losses for oil prices.

Earlier this week, EPA published its proposed new methane regulations for the oil and gas sector. These new rules will have significant practical implications for the industry and have the potential to set new precedent for EPAs authority under the Clean Air Act to address climate change for other industries as well. While the proposal is over 150 pages long, it does not include the actual text of the proposed rules, promising instead to provide proposed text in a supplemental notice early next By: Troutman Pepper

India has reportedly rejected the latest call to release the strategic petroleum reserves made earlier this week by US President Joe Biden, who insists that the measure would temper rallying crude oil prices. The US administration reached out to some of the world''s largest oil-consuming states, including China, India, Japan, and South Korea, according to several people aware of the development, a

European stocks retreated from record highs, while government bond yields, oil prices and the euro tumbled on Friday as the specter of a fresh Covid-linked lockdown in Germany and other parts of Europe cast a fresh shadow over the global economy.