Guyana aims to increase its oil royalties and revamp other contract terms as part of a new profit-sharing agreement (PSA) for future crude and gas projects now in its draft stage, the South American nation's vice president said on Tuesday.
U.S. petroleum consumption has recovered to pre-pandemic levels, but there has been a marked shift from consumer-facing sectors towards industry and freight transportation, mirroring the uneven economic recovery.
Saudi Aramco (2222.SE) is in advanced talks to acquire a roughly 20% stake in Reliance Industries Ltd's (RELI.NS) oil refining and chemicals business for about $20 billion to $25 billion in Aramco's shares, Bloomberg News reported on Monday.
China's daily crude throuhgput last month fell to the lowest since May 2020 as independent plants slashed production amid a tighter quotas, high inventories and weakening profits.