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Crude oil supply: prices rise despite concerns
Oil prices rose slightly despite demand concerns in China and a rise in US crude inventories, thanks to production cuts by Saudi Arabia and Russia. Saudi Arabia continues to support OPEC+ market stabilization measures.
Offre de pétrole brut
Crude oil supply: prices rise despite concerns
Oil prices rose slightly despite demand concerns in China and a rise in US crude inventories, thanks to production cuts by Saudi Arabia and Russia. Saudi Arabia continues to support OPEC+ market stabilization measures.
Offre de pétrole brut
Aramco’s net profit falls 38% in Q2
Production Reduction Strategy to Preserve the Economy: How Aramco Responds to Oil Sector Challenges
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Aramco’s net profit falls 38% in Q2
Production Reduction Strategy to Preserve the Economy: How Aramco Responds to Oil Sector Challenges
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Teal West oil field: UK agreement for tie-in project
The UK government approves the Teal West project in the North Sea despite controversy, but regulatory delays and uncertainty in the UK oil sector pose challenges.
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Teal West oil field: UK agreement for tie-in project
The UK government approves the Teal West project in the North Sea despite controversy, but regulatory delays and uncertainty in the UK oil sector pose challenges.
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Indian oil: Petrochina interested in building SPRs
Chinese oil major Petrochina joins global oil giants in expressing interest in building strategic oil reserves in India. BP, Shell, Trafigura, Vitol, Glencore, Vopak and KNOC also expressed interest during roadshows in seeking private investment for these reserves.
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Indian oil: Petrochina interested in building SPRs
Chinese oil major Petrochina joins global oil giants in expressing interest in building strategic oil reserves in India. BP, Shell, Trafigura, Vitol, Glencore, Vopak and KNOC also expressed interest during roadshows in seeking private investment for these reserves.
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Opec+ stays the course despite Saudi oil adjustments
Opep+ maintains its strategy of production cuts until the end of 2024, with the support of Saudi Arabia and Russia. JMMC recommends stability in the oil industry despite economic challenges.
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Opec+ stays the course despite Saudi oil adjustments
Opep+ maintains its strategy of production cuts until the end of 2024, with the support of Saudi Arabia and Russia. JMMC recommends stability in the oil industry despite economic challenges.
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OPEC+ maintains status quo in face of oil market competition
OPEC+ ministerial panel keeps oil production policy unchanged, despite higher prices due to the extension of the Saudi reduction. Russia joins the cuts, while Algeria hesitates.
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OPEC+ maintains status quo in face of oil market competition
OPEC+ ministerial panel keeps oil production policy unchanged, despite higher prices due to the extension of the Saudi reduction. Russia joins the cuts, while Algeria hesitates.
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Ecuadorian oil: indigenous communities defend their land
Ecuador oil referendum: Waorani of Yasuni reserve determined to resist oil development. Armed with blowpipes and conviction, they are mobilizing to protect their territory and preserve the biodiversity of the Ecuadorian Amazon.
Waorani
Ecuadorian oil: indigenous communities defend their land
Ecuador oil referendum: Waorani of Yasuni reserve determined to resist oil development. Armed with blowpipes and conviction, they are mobilizing to protect their territory and preserve the biodiversity of the Ecuadorian Amazon.
Waorani
Moroccan courts prosecute nine oil companies, including TotalEnergies
The Moroccan justice system is investigating 9 oil companies, including TotalEnergies, for anti-competitive practices in the distribution of hydrocarbons. Suspected price fixing.
Maroc
Moroccan courts prosecute nine oil companies, including TotalEnergies
The Moroccan justice system is investigating 9 oil companies, including TotalEnergies, for anti-competitive practices in the distribution of hydrocarbons. Suspected price fixing.
Maroc
Libya’s energy market revitalized: three foreign giants are back in business
Libya's energy market is getting a new lease of life, with three international oil companies back in business after a decade's absence. Production reached 1.2 million barrels per day, marking an economic recovery.
Libye
Libya’s energy market revitalized: three foreign giants are back in business
Libya's energy market is getting a new lease of life, with three international oil companies back in business after a decade's absence. Production reached 1.2 million barrels per day, marking an economic recovery.
Libye
Commercial oil reserves: a record drop for the United States
Weekly commercial crude oil reserves in the United States fell by a record 17 million barrels, far exceeding analysts' forecasts, according to the EIA. This sharp reduction in inventories has triggered a reaction on the market, leading to a fall in Brent and WTI prices.
Stocks américains
Commercial oil reserves: a record drop for the United States
Weekly commercial crude oil reserves in the United States fell by a record 17 million barrels, far exceeding analysts' forecasts, according to the EIA. This sharp reduction in inventories has triggered a reaction on the market, leading to a fall in Brent and WTI prices.
Stocks américains
BP forecasts growth in oil demand despite uncertainties.
BP's Bernard Looney forecasts growth in oil demand supported by OPEC+ discipline and lower US production. Despite economic uncertainties, his comments underscore a positive outlook for the oil market.
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BP forecasts growth in oil demand despite uncertainties.
BP's Bernard Looney forecasts growth in oil demand supported by OPEC+ discipline and lower US production. Despite economic uncertainties, his comments underscore a positive outlook for the oil market.
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Emirates’ oil giant promises to “accelerate” its zero-carbon plan
The United Arab Emirates' oil giant, Adnoc, has announced measures to achieve carbon neutrality by 2045, five years ahead of the original 2050 target, attracting attention as the country hosts COP28 later this year.
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Emirates’ oil giant promises to “accelerate” its zero-carbon plan
The United Arab Emirates' oil giant, Adnoc, has announced measures to achieve carbon neutrality by 2045, five years ahead of the original 2050 target, attracting attention as the country hosts COP28 later this year.
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Falling hydrocarbon prices cause BP’s 2Q net profit to plummet
BP saw its net profit fall in Q2 due to lower oil prices, but announced a positive outlook for Q3.
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Falling hydrocarbon prices cause BP’s 2Q net profit to plummet
BP saw its net profit fall in Q2 due to lower oil prices, but announced a positive outlook for Q3.
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From TotalEnergies to Shell, declining profits
TotalEnergies maintains second-quarter profitability despite lower earnings. The Group is facing criticism over its investments in Russian gas and fossil fuels.
TotalEnergies Shell
From TotalEnergies to Shell, declining profits
TotalEnergies maintains second-quarter profitability despite lower earnings. The Group is facing criticism over its investments in Russian gas and fossil fuels.
TotalEnergies Shell
Sinopec paves the way for quality growth in the petrochemical industry
China's petrochemical industry adapts to "Double Carbon" objectives. Sinopec is implementing measures for energy transformation and emissions reduction.
DOE invests 1B in clean hydrogen, driving a carbon-free economy and job creation. (18)
Sinopec paves the way for quality growth in the petrochemical industry
China's petrochemical industry adapts to "Double Carbon" objectives. Sinopec is implementing measures for energy transformation and emissions reduction.
DOE invests 1B in clean hydrogen, driving a carbon-free economy and job creation. (18)
Weaker-than-expected reduction in US crude oil inventories
U.S. commercial crude oil reserves recorded a smaller-than-expected drop last week, despite rising demand, according to data from the U.S. Energy Information Agency (EIA). The 600,000-barrel contraction fell short of market expectations, keeping prices slightly down.
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Weaker-than-expected reduction in US crude oil inventories
U.S. commercial crude oil reserves recorded a smaller-than-expected drop last week, despite rising demand, according to data from the U.S. Energy Information Agency (EIA). The 600,000-barrel contraction fell short of market expectations, keeping prices slightly down.
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First drillings on TotalEnergies’ Ugandan megaproject
Tensions and controversies intensify as TotalEnergies begins oil drilling in Uganda for the Tilenga project, raising environmental and human rights concerns.
TotalEnergies Ouganda
First drillings on TotalEnergies’ Ugandan megaproject
Tensions and controversies intensify as TotalEnergies begins oil drilling in Uganda for the Tilenga project, raising environmental and human rights concerns.
TotalEnergies Ouganda
Budget surplus in Kuwait thanks to soaring oil prices
Kuwait recorded its first budget surplus in nine years, boosted by soaring oil prices, but faces political instability that is hampering necessary economic reforms.
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Budget surplus in Kuwait thanks to soaring oil prices
Kuwait recorded its first budget surplus in nine years, boosted by soaring oil prices, but faces political instability that is hampering necessary economic reforms.
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Saudi Aramco acquires 10% stake in Chinese petrochemical company
Aramco strengthens its position in the Chinese oil market with a key acquisition, finalizing the purchase of a 10% stake in Rongsheng Petrochemical, while the company aims to turn liquids into chemicals to support its long-term growth strategy and strengthen its presence in China, the world's largest crude-importing country.
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Saudi Aramco acquires 10% stake in Chinese petrochemical company
Aramco strengthens its position in the Chinese oil market with a key acquisition, finalizing the purchase of a 10% stake in Rongsheng Petrochemical, while the company aims to turn liquids into chemicals to support its long-term growth strategy and strengthen its presence in China, the world's largest crude-importing country.
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Ecuador: at least 1,200 barrels of crude oil spill on a Quito beach
An oil leak at an oil terminal in Ecuador has resulted in at least 1,200 barrels of crude oil being spilled on a tourist beach in the northwest of the country, causing worrying environmental pollution and leading to the beach being closed for the safety of visitors.
Ecuador: at least 1,200 barrels of crude oil spill on a Quito beach
An oil leak at an oil terminal in Ecuador has resulted in at least 1,200 barrels of crude oil being spilled on a tourist beach in the northwest of the country, causing worrying environmental pollution and leading to the beach being closed for the safety of visitors.
Gasoline prices in Nigeria soar with the arrival of private companies
Gasoline prices in Nigeria are at an all-time high, rising 26% since President Bola Tinubu ended the fuel subsidy in May. Rising prices have provoked protests by rights groups and trade unions, while the country remains dependent on imports due to the poor state of its refineries, despite hopes that Dangote's new refinery will fill the fuel gap.
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Gasoline prices in Nigeria soar with the arrival of private companies
Gasoline prices in Nigeria are at an all-time high, rising 26% since President Bola Tinubu ended the fuel subsidy in May. Rising prices have provoked protests by rights groups and trade unions, while the country remains dependent on imports due to the poor state of its refineries, despite hopes that Dangote's new refinery will fill the fuel gap.
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USA: smaller than expected drop in crude oil inventories
U.S. crude oil inventories down. Rebound in demand for distillates, despite a slight fall in diesel compared with last year.
USA: smaller than expected drop in crude oil inventories
U.S. crude oil inventories down. Rebound in demand for distillates, despite a slight fall in diesel compared with last year.
China’s Crude Oil Throughput Soars in H1 2023, Outpacing GDP Growth
China's crude oil throughput surges, outpacing GDP growth, indicating potential for economic recovery. Refineries expected to increase throughput to meet domestic demand and boost oil product exports.
DOE invests 1B in clean hydrogen, driving a carbon-free economy and job creation. (4)
China’s Crude Oil Throughput Soars in H1 2023, Outpacing GDP Growth
China's crude oil throughput surges, outpacing GDP growth, indicating potential for economic recovery. Refineries expected to increase throughput to meet domestic demand and boost oil product exports.
DOE invests 1B in clean hydrogen, driving a carbon-free economy and job creation. (4)
OPEC relies on China to support oil demand
OPEC forecasts a persistent increase in global oil demand in the second half of 2023 and into 2024, supported in particular by a continued rebound in the Chinese economy. The cartel estimates that demand will increase by 2.2 million barrels per day in 2024, with strong growth expected in non-OECD countries, particularly China, the Middle East and other Asian countries.
OPEP
OPEC relies on China to support oil demand
OPEC forecasts a persistent increase in global oil demand in the second half of 2023 and into 2024, supported in particular by a continued rebound in the Chinese economy. The cartel estimates that demand will increase by 2.2 million barrels per day in 2024, with strong growth expected in non-OECD countries, particularly China, the Middle East and other Asian countries.
OPEP
Libya: production resumes at two major oilfields
Oil operations are resuming at two major fields in Libya after being forced to close by protests following the arrest of a former minister. Tensions linked to power struggles continue to weigh on the exploitation of the country's major oil deposits.
Libya: production resumes at two major oilfields
Oil operations are resuming at two major fields in Libya after being forced to close by protests following the arrest of a former minister. Tensions linked to power struggles continue to weigh on the exploitation of the country's major oil deposits.
An Unexpected Jump in U.S. Crude Oil Inventories
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An Unexpected Jump in U.S. Crude Oil Inventories
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