Oil prices rise as tight supply back in focus

Oil prices rose on Tuesday as the supply-demand balance looked set to tighten on operational disruptions, stronger demand and voluntary output cuts. U.S. West Texas Intermediate crude futures rose 18 cents to $79.30 a barrel by

AIM-listed Challenger Energy, the Atlantic margin focused energy company, has announced (as foreshadowed in the Company’s RNS of 18 April 2024) that it has entered into long-form legal documentation to give effect to the term sheet for an

When the Kudu gas field was discovered offshore Namibia in the early 1970s, Chevron jumped to the other side of the Atlantic to take acreage in Uruguay in a similar setting. It led to the drilling

Challenger Energy Group PLC on Thursday said it has entered into a binding agreement that will see Charlestown Energy Partners LLC become one of the largest shareholders. Challenger, a Caribbean and Atlantic focused oil and gas

Oil prices steadied above $88 a barrel on Wednesday after rallying in the previous session on a surprise fall in U.S. crude stocks and a drop in business activity in the world’s largest oil consumer. Brent

Uruguay’s offshore blocks went from zero to fully licensed in under three years, committing material work programs estimated at $233 million. Uruguay emerges as a new frontier in offshore energy, drawing renewed interest in oil and

Challenger Energy Group plc (LON:CEG) is a Caribbean and Atlantic margin focused oil and gas company, with a range of petroleum assets located onshore in Trinidad and Tobago, and Suriname, and offshore in the waters of The Bahamas

Oil prices edged higher on Tuesday, after hopes diminished that negotiations between Israel and Hamas would lead to a ceasefire in Gaza, and on Mexico’s plan to remove more crude from the global market. Brent crude

Challenger Energy has completed the formal award process for its AREA OFF-3 license offshore Uruguay, first awarded last June under the Open Uruguay Round process. Sign-off followed confirmation of final regulatory approvals. The first exploration period will

Challenger Energy has signed the AREA OFF-3 licence for oil and gas exploration offshore Uruguay. The licence, awarded under the Open Uruguay Round, has a four-year exploration period. Covering an area of 13,252km², the AREA OFF-3

Challenger Energy has signed the AREA OFF-3 licence for oil and gas exploration offshore Uruguay. The licence, awarded under the Open Uruguay Round, has a four-year exploration period. Covering an area of 13,252km², the AREA OFF-3

Challenger Energy announced the formal signing of its AREA OFF-3 license offshore Uruguay. The AREA OFF-3 license was awarded to the company on June 2, 2023, under the Open Uruguay Round process. Accordingly, AREA OFF-3’s first

Uruguay has firmly cemented itself as a leader in clean energy. The country of 3.4 million people wedged between Brazil, Argentina and the South Atlantic Ocean has an electricity grid that is 95% powered by low-carbon sources.

Challenger Energy Group has entered into a farm-out agreement with Chevron Uruguay Exploration (a wholly-owned subsidiary of Chevron) for a 60% interest in the AREA OFF-1 block in Uruguay in a US$12.5m deal. Under the terms of

Isle of Man-headquartered oil and gas player Challenger Energy Group (CEG) has formally signed a license for a shallow water exploration block off the coast of Uruguay. Aside from embarking on technical work, the firm intends to go