BP returns to Iraq after five years, signing a preliminary agreement with the government to restart production from the Kirkuk fields via a profit-sharing model.
BP returns to Iraq after five years, signing a preliminary agreement with the government to restart production from the Kirkuk fields via a profit-sharing model.
The ongoing arbitration between Exxon Mobil and Chevron over the merger with Hess could redefine the future of oil operations in Guyana, a crucial sector for both American giants.
The ongoing arbitration between Exxon Mobil and Chevron over the merger with Hess could redefine the future of oil operations in Guyana, a crucial sector for both American giants.
In 2023, despite falling commodity prices, oil production in the United States will reach record levels, underpinned by massive investment and effective cost management.
In 2023, despite falling commodity prices, oil production in the United States will reach record levels, underpinned by massive investment and effective cost management.
Orlen has signed a major agreement with BP for the supply of North Sea crude oil, representing 15% of its annual requirements, to strengthen its refining operations in Europe.
Orlen has signed a major agreement with BP for the supply of North Sea crude oil, representing 15% of its annual requirements, to strengthen its refining operations in Europe.
The recently expanded Trans Mountain pipeline provides sufficient capacity to maintain Canadian oil exports despite threats of strikes by the major railways.
The recently expanded Trans Mountain pipeline provides sufficient capacity to maintain Canadian oil exports despite threats of strikes by the major railways.
Russian refineries stepped up production in August in anticipation of the September maintenance shutdowns, optimizing throughput thanks to improved logistical conditions.
Russian refineries stepped up production in August in anticipation of the September maintenance shutdowns, optimizing throughput thanks to improved logistical conditions.
The global market for hydrocrackers, essential to the production of high-quality fuels, will reach 125.2 billion USD by 2033, driven by growing demand for cleaner energy.
The global market for hydrocrackers, essential to the production of high-quality fuels, will reach 125.2 billion USD by 2033, driven by growing demand for cleaner energy.
Saudi Arabia, a key player in OPEC, is significantly increasing its oil production, jeopardizing the balance of world prices and threatening the economic stability of the energy sector.
Saudi Arabia, a key player in OPEC, is significantly increasing its oil production, jeopardizing the balance of world prices and threatening the economic stability of the energy sector.
Increased exports of Chinese petroleum products are threatening the margins of South Korean refiners, already under pressure, in a fragile regional economic context.
Increased exports of Chinese petroleum products are threatening the margins of South Korean refiners, already under pressure, in a fragile regional economic context.
U.S. crude oil reserves rose by 1.4 million barrels, contradicting analysts' expectations, while gasoline demand remained high with a notable reduction in inventories.
U.S. crude oil reserves rose by 1.4 million barrels, contradicting analysts' expectations, while gasoline demand remained high with a notable reduction in inventories.
In July 2024, Russian seaborne exports of petroleum products to Asia doubled to 1.1 million tonnes, with increased use of the Cape of Good Hope route to avoid the Suez Canal.
In July 2024, Russian seaborne exports of petroleum products to Asia doubled to 1.1 million tonnes, with increased use of the Cape of Good Hope route to avoid the Suez Canal.
The International Energy Agency (IEA) is revising downwards its forecast for global oil demand in 2025, citing the weakening economy in China as the main brake on growth.
The International Energy Agency (IEA) is revising downwards its forecast for global oil demand in 2025, citing the weakening economy in China as the main brake on growth.
Despite its potential, the Dangote refinery is struggling to secure the necessary volumes of Nigerian crude, revealing flaws in the country's regulatory and supply mechanisms.
Despite its potential, the Dangote refinery is struggling to secure the necessary volumes of Nigerian crude, revealing flaws in the country's regulatory and supply mechanisms.
OPEC (Organization of the Petroleum Exporting Countries) is adjusting its forecast for world oil demand in 2024 slightly downwards, due to economic uncertainties in China, the main driver of global consumption.
OPEC (Organization of the Petroleum Exporting Countries) is adjusting its forecast for world oil demand in 2024 slightly downwards, due to economic uncertainties in China, the main driver of global consumption.
Global overcapacity in the petrochemicals sector, exacerbated by Chinese expansion and energy costs in Europe, is forcing companies to undertake drastic restructuring, including plant closures and strategic consolidations.
Global overcapacity in the petrochemicals sector, exacerbated by Chinese expansion and energy costs in Europe, is forcing companies to undertake drastic restructuring, including plant closures and strategic consolidations.
In July, OPEC+ produced 437,000 barrels per day in excess of quotas, jeopardizing reduction plans and exacerbating the challenges facing an oil market already under pressure.
In July, OPEC+ produced 437,000 barrels per day in excess of quotas, jeopardizing reduction plans and exacerbating the challenges facing an oil market already under pressure.
Goldman Sachs believes that the next US president will have limited means to significantly increase oil supply in 2025, due to low strategic reserves and regulatory hurdles.
Goldman Sachs believes that the next US president will have limited means to significantly increase oil supply in 2025, due to low strategic reserves and regulatory hurdles.
