(Bloomberg) – The U.S. plans to purchase about 12 MMbbl of oil this year as it begins to refill its depleted emergency reserve amid falling crude prices, according to two people familiar with the matter. The figure includes 3 MMbbl already scheduled for delivery in August and an additional 3 MMbbl from a solicitation the Biden administratio...

(Bloomberg) – Nigeria’s state energy company should sell off assets including stakes in oil blocks to raise billions of dollars, a report prepared for the country’s new president proposes. The Nigerian National Petroleum Co. should become a minority shareholder in projects it currently controls, potentially generating more than $17 bill...