By Khalid Al-Ansary on 8/1/2021 (Bloomberg) – Russia’s Lukoil PJSC is retracting its decision to sell its stake in West Qurna-2 field in the south to Chinese companies, according to Iraqi state-run newspaper Al-Sabah. Iraq’s oil ministry has been in talks with the company for

By Sheela Tobben on 8/1/2021 (Bloomberg) –New Mexico’s oil production surged to a record in May highlighting the Permian Basin’s role as the shale industry sees some recovery from the pandemic. The southwestern state produced about 4% more crude in the month to reach a

By Moses Mozart Dzawu, Ekow Dontoh and Yinka Ibukun on 8/2/2021 (Bloomberg) –Ghana is seeking parliamentary approval to borrow as much as $1.65 billion to accelerate oil and gas exploration by acquiring and developing assets. The investment push comes after Exxon Mobil Corp. pulled out

By Kiel Porter, Dinesh Nair and David Wethe on 8/1/2021 (Bloomberg) –Devon Energy Corp. and ConocoPhillips are among potential suitors studying Royal Dutch Shell Plc’s portfolio of Permian Basin oil fields, which could be worth as much as $10 billion in a sale, people familiar

By Jessica Summers on 8/2/2021 (Bloomberg) –Oil slid by the most in a week as the fast-spreading delta variant poses a threat to demand and as data out of China signaled a slowdown. Futures in New York declined as much as 2% on Monday. The