Category: Petroleum

The price of a barrel of Brent oil for delivery in June reached a maximum of 91.90 dollars yesterday on the London futures market. The appreciation was above 1.30 percent compared to the previous day. North Sea crude, which serves as a reference in Europe and also for Angola, closed the day on the International Exchange Futures with an increase of 1.30 dollars compared to the last negotiation, when it closed at 90.65 dollars, this

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Bank of America has predicted that the price of oil will surge to $95 per barrel by June. Francisco Blanch, the director of raw materials and derivatives at the bank, attributes this increase to dwindling reserves and escalating geopolitical tensions. Additionally, production cuts by OPEC+ could impact the interest rate reduction strategies of the US Federal Reserve and the European Central Bank. According to a recent Bank of America Research report, released yesterday, commodity prices

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Tullow Oil, a multinational exploration company, has adjusted the value of its assets in Kenya, writing off $17.9 million. This decision comes as the company awaits updates on the Field Development Plan submitted to the Kenyan government in March 2023 for its Turkana project. The revised valuation of Tullow’s Kenya assets declined from $260.1 million in December 2022 to $242.2 million by the end of 2023. Tullow aims to reverse these impairments once uncertainties are

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On Monday, the Botswana Energy Regulator Authority (BERA) issued an import license to Botswana Oil Limited, authorizing the company to import 90% of Botswana’s fuel requirement. The license was presented to Mr. Meshack Tshekedi, CEO of Botswana Oil, by BERA caretaker CEO Dr. Grace Tabengwa. The granting of the license is contingent upon Botswana Oil Limited complying with various terms and conditions, including: .Commencement of the license on April 1, 2024, and its indefinite validity,

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On Monday, Petrobras reduced the price of aviation kerosene (QAV) by around 1.5% despite the increase in the price of oil in recent days. The adjustments vary according to the market served by the company, ranging between 1.4% and 1.7%, as disclosed in a table by the oil company. Oil has shown high volatility, alternating between small increases and drops. In March, Petrobras had raised the price of fuel between 8% and 8.5%. The price of

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Oil futures surged on Monday, hitting their highest levels since October, driven by unexpected data from the industrial sectors of both China and the United States, while investors awaited the upcoming OPEC+ meeting. On the New York Mercantile Exchange (Nymex), WTI for May climbed 0.65%, or $0.54, to reach $83.71 per barrel, while Brent for June rose 0.48%, or $0.42, closing at $87.42 per barrel. China’s industrial Purchasing Managers’ Index (PMI) soared from 49.1 in

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