Connection

Fossil Energy

Latest news

Next Bridge Hydrocarbons acquires interest in the Orogrande project
Next Bridge Hydrocarbons, an oil and natural gas exploration and production company, has completed a strategic merger and acquired working interest in the Orogrande project. This transaction strengthens Next Bridge's presence in the Texas and Oklahoma energy sector, providing new opportunities and a strong position for the future.
Sans-titre-1900-×-900-px-2023-05-17T141541.242
Next Bridge Hydrocarbons acquires interest in the Orogrande project
Next Bridge Hydrocarbons, an oil and natural gas exploration and production company, has completed a strategic merger and acquired working interest in the Orogrande project. This transaction strengthens Next Bridge's presence in the Texas and Oklahoma energy sector, providing new opportunities and a strong position for the future.
Sans-titre-1900-×-900-px-2023-05-17T141541.242
The United States wants to buy 3 million barrels for its strategic reserves
The U.S. government is soliciting bids for the purchase of three million barrels of crude oil to replenish their strategic reserves. U.S. Secretary of Energy Jennifer Granholm confirms that the purchase process will begin in June after completing the legal requirements for sale.
Design-sans-titre-7-4
The United States wants to buy 3 million barrels for its strategic reserves
The U.S. government is soliciting bids for the purchase of three million barrels of crude oil to replenish their strategic reserves. U.S. Secretary of Energy Jennifer Granholm confirms that the purchase process will begin in June after completing the legal requirements for sale.
Design-sans-titre-7-4
Hayan Abdel-Ghani announces no further Iraqi oil cuts
Iraq's oil minister says there will be no further OPEC+ oil production cuts at its next meeting in June. The decisions taken at this meeting will play a crucial role in the future of the oil market.
Design-sans-titre-7-3
Hayan Abdel-Ghani announces no further Iraqi oil cuts
Iraq's oil minister says there will be no further OPEC+ oil production cuts at its next meeting in June. The decisions taken at this meeting will play a crucial role in the future of the oil market.
Design-sans-titre-7-3
Colombia: the unstoppable rise in the price of once cheap gasoline
Colombian motorists are facing an unprecedented increase in gasoline prices, following the removal of government subsidies. This decision aims to reduce the public deficit and promote a sustainable environmental policy, but it has led to high inflation and criticism from citizens.
Sans-titre-1900-×-900-px-2023-05-15T121726.574
Colombia: the unstoppable rise in the price of once cheap gasoline
Colombian motorists are facing an unprecedented increase in gasoline prices, following the removal of government subsidies. This decision aims to reduce the public deficit and promote a sustainable environmental policy, but it has led to high inflation and criticism from citizens.
Sans-titre-1900-×-900-px-2023-05-15T121726.574
OPEC maintains its global demand forecast for 2023
Opec is maintaining its forecast for global oil demand growth, driven by non-OECD countries, despite economic and geopolitical uncertainties. Oil prices have fallen, prompting OPEC to cut production to support prices.
Design-sans-titre-3-3
OPEC maintains its global demand forecast for 2023
Opec is maintaining its forecast for global oil demand growth, driven by non-OECD countries, despite economic and geopolitical uncertainties. Oil prices have fallen, prompting OPEC to cut production to support prices.
Design-sans-titre-3-3
Economic woes lead to a lower price outlook from the U.S. EIA
The U.S. Energy Information Administration (EIA) released its May Short-Term Energy Outlook, revising its 2023 Brent crude oil forecast downward to $78.65 per barrel. Although demand for liquid fuels is expected to increase in 2023, OPEC+ oil production is expected to decline due to voluntary reductions.
Sans-titre-1900-×-900-px-2023-05-11T214255.472
Economic woes lead to a lower price outlook from the U.S. EIA
The U.S. Energy Information Administration (EIA) released its May Short-Term Energy Outlook, revising its 2023 Brent crude oil forecast downward to $78.65 per barrel. Although demand for liquid fuels is expected to increase in 2023, OPEC+ oil production is expected to decline due to voluntary reductions.
Sans-titre-1900-×-900-px-2023-05-11T214255.472
Al-Zour refinery in Kuwait restores production
The Al-Zour refinery in Kuwait recently restored its crude distillation units 1 and 2, allowing a significant increase in production to 345,000 barrels per day. This improvement has also allowed the country to take advantage of its local production by supplying a shipment of LSFO for domestic electricity.
Sans-titre-1900-×-900-px-2023-05-11T210831.445
Al-Zour refinery in Kuwait restores production
The Al-Zour refinery in Kuwait recently restored its crude distillation units 1 and 2, allowing a significant increase in production to 345,000 barrels per day. This improvement has also allowed the country to take advantage of its local production by supplying a shipment of LSFO for domestic electricity.
Sans-titre-1900-×-900-px-2023-05-11T210831.445
Shell: Anglican Church Pension Fund Against Transition Plan
The Church of England pension fund will vote against the reappointment of Shell executives. The decision is symbolic because the pension fund has only a small stake in Shell, whose strategy to be carbon neutral by 2050 or earlier remains unchanged.
Design-sans-titre-6-3
Shell: Anglican Church Pension Fund Against Transition Plan
The Church of England pension fund will vote against the reappointment of Shell executives. The decision is symbolic because the pension fund has only a small stake in Shell, whose strategy to be carbon neutral by 2050 or earlier remains unchanged.
Design-sans-titre-6-3
Fuel: the association CLCV denounces the “explosive” gross margins of distributors
The consumer association CLCV accuses fuel distributors of having "explosive gross margins" and calls for a price reduction of 10 cents per liter. The CLCV warns that it will refer the matter to the competent authorities if the gross margins do not return to normal by early summer.
Design-sans-titre-14
Fuel: the association CLCV denounces the “explosive” gross margins of distributors
The consumer association CLCV accuses fuel distributors of having "explosive gross margins" and calls for a price reduction of 10 cents per liter. The CLCV warns that it will refer the matter to the competent authorities if the gross margins do not return to normal by early summer.
Design-sans-titre-14
Aramco announces a profit of $31.9 billion, down 19%.
Aramco recorded a 19.25% drop in net profit in Q1 2023 but remains the source of more than 75% of the majors' combined profits. The company is maintaining its long-term expansion plans despite the decline in hydrocarbon prices and fears of a global recession.
Design-sans-titre-5-1
Aramco announces a profit of $31.9 billion, down 19%.
Aramco recorded a 19.25% drop in net profit in Q1 2023 but remains the source of more than 75% of the majors' combined profits. The company is maintaining its long-term expansion plans despite the decline in hydrocarbon prices and fears of a global recession.
Design-sans-titre-5-1
Ecuador: green light for a referendum on oil exploitation in a reserve
The Constitutional Court of Ecuador authorizes a referendum on the continuation of oil exploitation in the natural reserve of Yasuni. Ecuadorians will be able to vote in the next 75 days to decide on the phasing out of this operation.
Design-sans-titre-10-1
Ecuador: green light for a referendum on oil exploitation in a reserve
The Constitutional Court of Ecuador authorizes a referendum on the continuation of oil exploitation in the natural reserve of Yasuni. Ecuadorians will be able to vote in the next 75 days to decide on the phasing out of this operation.
Design-sans-titre-10-1
France: Michel-Edouard Leclerc considers “inflated” to point out the distributors and not Total
Michel-Edouard Leclerc, chairman of the strategic committee of E.Leclerc centers, criticizes the government's request to lower prices at the pump and believes that TotalEnergies should be the first economic actor to do so. He also refutes accusations of excessive margins of his own brand.
Design-sans-titre-9-2
France: Michel-Edouard Leclerc considers “inflated” to point out the distributors and not Total
Michel-Edouard Leclerc, chairman of the strategic committee of E.Leclerc centers, criticizes the government's request to lower prices at the pump and believes that TotalEnergies should be the first economic actor to do so. He also refutes accusations of excessive margins of his own brand.
Design-sans-titre-9-2
Zimbabwe considers application to explore for oil in classified reserve
The Zimbabwean government is considering an application to explore the Mana Pools National Park for oil and gas. This initiative risks scaring away wildlife and repelling tourists, jeopardizing Zimbabwe's national interest.
Design-sans-titre-2-1
Zimbabwe considers application to explore for oil in classified reserve
The Zimbabwean government is considering an application to explore the Mana Pools National Park for oil and gas. This initiative risks scaring away wildlife and repelling tourists, jeopardizing Zimbabwe's national interest.
Design-sans-titre-2-1
Gulf of Mexico: vital but costly to plug 14,000 inactive oil wells, study says
Plugging inactive oil wells in U.S. waters in the Gulf of Mexico would cost more than $30 billion, but would be much cheaper by focusing on those closest to shore. The environmental risks are higher for the latter.
Design-sans-titre-2
Gulf of Mexico: vital but costly to plug 14,000 inactive oil wells, study says
Plugging inactive oil wells in U.S. waters in the Gulf of Mexico would cost more than $30 billion, but would be much cheaper by focusing on those closest to shore. The environmental risks are higher for the latter.
Design-sans-titre-2
Shell closes out a season of blazing profits for the oil majors
Shell reports first-quarter net income of $8.7 billion, capping a season of record results for oil majors despite falling oil prices. Pro-environmental NGOs are calling for profits to be used to repair the damage caused by fossil fuels.
Sans-titre-20
Shell closes out a season of blazing profits for the oil majors
Shell reports first-quarter net income of $8.7 billion, capping a season of record results for oil majors despite falling oil prices. Pro-environmental NGOs are calling for profits to be used to repair the damage caused by fossil fuels.
Sans-titre-20
U.S. response under scrutiny after Iran seizes oil tanker
Tehran's recent seizure of a U.S.-bound oil tanker could have a significant impact on regional trade flows and marine insurance premiums. Industry analysts wonder about Washington's response and whether tensions will escalate.
Sans-titre-1900-×-900-px-2023-05-03T134652.155
U.S. response under scrutiny after Iran seizes oil tanker
Tehran's recent seizure of a U.S.-bound oil tanker could have a significant impact on regional trade flows and marine insurance premiums. Industry analysts wonder about Washington's response and whether tensions will escalate.
Sans-titre-1900-×-900-px-2023-05-03T134652.155
Oil tanker disaster in Yemen: the black gold sector must participate in the rescue
Yemen needs financial assistance from international oil companies to avoid an environmental catastrophe. The FSO Safer is at risk of breaking, exploding or catching fire at any time, and contains four times the amount of oil of the Exxon Valdez.
Oil tanker disaster in Yemen: the black gold sector must participate in the rescue
Yemen needs financial assistance from international oil companies to avoid an environmental catastrophe. The FSO Safer is at risk of breaking, exploding or catching fire at any time, and contains four times the amount of oil of the Exxon Valdez.
Iraq optimistic about resuming Kurdish oil exports
Iraq is hoping for an agreement to resume oil exports to Turkey, which have been halted for a month due to an old legal dispute. Kurdistan's oil sales must now go through the Iraqi State Oil Company, and revenues from Kurdish exports are supervised by Baghdad.
Sans-titre-11-1
Iraq optimistic about resuming Kurdish oil exports
Iraq is hoping for an agreement to resume oil exports to Turkey, which have been halted for a month due to an old legal dispute. Kurdistan's oil sales must now go through the Iraqi State Oil Company, and revenues from Kurdish exports are supervised by Baghdad.
Sans-titre-11-1
Oil falls back below $70, Opec+ “watching”
Oil prices fall sharply below $70 per barrel, despite OPEC+ production cuts. Concerns about the U.S. banking sector and fears of a global recession are weighing on the market.
Sans-titre-9-1
Oil falls back below $70, Opec+ “watching”
Oil prices fall sharply below $70 per barrel, despite OPEC+ production cuts. Concerns about the U.S. banking sector and fears of a global recession are weighing on the market.
Sans-titre-9-1
U.S. oil companies’ profits shrug off crude oil downturn
Oil giants ExxonMobil and Chevron reported increased profits in the first quarter, despite lower energy prices, thanks to their refining operations and cost-saving measures, including European tax charges.
U.S. oil companies’ profits shrug off crude oil downturn
Oil giants ExxonMobil and Chevron reported increased profits in the first quarter, despite lower energy prices, thanks to their refining operations and cost-saving measures, including European tax charges.
OPEC warns IEA not to discourage investment in oil industry
OPEC's Secretary General warns the IEA against discouraging investment in the oil industry, while recent tensions between the two parties highlight differences of opinion on the impact of the oil industry on the global economy.
Sans-titre-6-12
OPEC warns IEA not to discourage investment in oil industry
OPEC's Secretary General warns the IEA against discouraging investment in the oil industry, while recent tensions between the two parties highlight differences of opinion on the impact of the oil industry on the global economy.
Sans-titre-6-12
Saudi Arabia: reduction in the price of Arabian light crude oil
Saudi Arabia plans to cut the price of its Arabian light crude oil to Asia in June despite a further OPEC+ production cut. This decision is in response to falling fuel prices and growing demand for cheap Russian crude oil in China and India.
Sans-titre-5-12
Saudi Arabia: reduction in the price of Arabian light crude oil
Saudi Arabia plans to cut the price of its Arabian light crude oil to Asia in June despite a further OPEC+ production cut. This decision is in response to falling fuel prices and growing demand for cheap Russian crude oil in China and India.
Sans-titre-5-12
Capricorn Energy, in the red in 2022, falls in London
Capricorn Energy, a U.K.-based oil and gas exploration and production company, reported a net loss of $51 million in 2022, marked by several aborted merger plans. The company saw its share price fall by more than 10% on the London Stock Exchange, despite a fourfold increase in turnover.
Sans-titre-1900-×-900-px-2023-04-28T105053.424
Capricorn Energy, in the red in 2022, falls in London
Capricorn Energy, a U.K.-based oil and gas exploration and production company, reported a net loss of $51 million in 2022, marked by several aborted merger plans. The company saw its share price fall by more than 10% on the London Stock Exchange, despite a fourfold increase in turnover.
Sans-titre-1900-×-900-px-2023-04-28T105053.424
Oil erases all gains since voluntary cuts by Opec members
Oil prices fell on Wednesday, erasing any gains made since the voluntary OPEC+ production cuts, as investors focused on recession fears rather than falling U.S. inventories.
Sans-titre-1900-×-900-px-2023-04-27T141640.027
Oil erases all gains since voluntary cuts by Opec members
Oil prices fell on Wednesday, erasing any gains made since the voluntary OPEC+ production cuts, as investors focused on recession fears rather than falling U.S. inventories.
Sans-titre-1900-×-900-px-2023-04-27T141640.027
USA: Crude oil inventories fall sharply again, demand rebounds
U.S. commercial crude oil inventories unexpectedly and significantly declined last week, mainly due to an increase in demand. Commercial reserves fell by 5.1 million barrels, beating analysts' forecasts, while gasoline inventories fell by 2.4 million barrels.
Sans-titre-1900-×-900-px-2023-04-27T135942.439
USA: Crude oil inventories fall sharply again, demand rebounds
U.S. commercial crude oil inventories unexpectedly and significantly declined last week, mainly due to an increase in demand. Commercial reserves fell by 5.1 million barrels, beating analysts' forecasts, while gasoline inventories fell by 2.4 million barrels.
Sans-titre-1900-×-900-px-2023-04-27T135942.439
Guyana: $12 billion for an offshore oil site
Guyana approves a $12 billion investment plan to develop a U.S.-China offshore oil site. The Uaru fields are expected to eventually produce 250,000 barrels of oil per day, providing a massive investment in the country.
Sans-titre-10-9
Guyana: $12 billion for an offshore oil site
Guyana approves a $12 billion investment plan to develop a U.S.-China offshore oil site. The Uaru fields are expected to eventually produce 250,000 barrels of oil per day, providing a massive investment in the country.
Sans-titre-10-9

popular articles

ExxonMobil Launches $75 Million Pipeline Project in Argentina
Libyan Oil Production Soars After End of Political Conflict
Crisis in Venezuelan Oil: Arrest of Pedro Tellechea
Russia Deems It Premature to Increase Oil Production in December
OMV Petrom and Renovatio finalize two agreements for 1,000 MW renewable energy projects

LEGAL

FOSSILS

POLICY

RENEWABLE

PLUS

VERVANT

Welcome

Your subscription

Included in this subscription:

COMMUNICATE ON ENERGYNEWS