OPEC+ is sticking to its strategy of increasing oil production from October onwards, despite downward pressure on Brent and WTI prices and expectations of market stabilization.
OPEC+ is sticking to its strategy of increasing oil production from October onwards, despite downward pressure on Brent and WTI prices and expectations of market stabilization.
ReconAfrica is moving ahead with exploration of the PEL 73 block in northeast Namibia, with a new agreement to sell a 20% interest to BW Energy for USD 22 million and a drilling program underway.
ReconAfrica is moving ahead with exploration of the PEL 73 block in northeast Namibia, with a new agreement to sell a 20% interest to BW Energy for USD 22 million and a drilling program underway.
Shell plans to significantly reduce headcount in its exploration division, with job cuts mainly in the USA, the Netherlands and the UK, as part of a global cost-cutting strategy.
Shell plans to significantly reduce headcount in its exploration division, with job cuts mainly in the USA, the Netherlands and the UK, as part of a global cost-cutting strategy.
The fuel oil market is expected to reach USD 260.1 billion by 2030, with average annual growth of 4.61%, despite the challenges posed by environmental regulations and price volatility.
The fuel oil market is expected to reach USD 260.1 billion by 2030, with average annual growth of 4.61%, despite the challenges posed by environmental regulations and price volatility.
ExxonMobil expects global oil demand to exceed 100 million barrels per day in 2050, a projection that diverges from the more cautious forecasts of the IEA and BP.
ExxonMobil expects global oil demand to exceed 100 million barrels per day in 2050, a projection that diverges from the more cautious forecasts of the IEA and BP.
Sinopec adjusts its crude processing by 1.6% for the second half of 2024, potentially impacting crude oil imports into China against a backdrop of falling demand.
Sinopec adjusts its crude processing by 1.6% for the second half of 2024, potentially impacting crude oil imports into China against a backdrop of falling demand.
An oil tanker managed by an Azerbaijani company uses the Northern Sea Route to China, a route dominated by Russian Sovcomflot vessels, despite high navigation costs.
An oil tanker managed by an Azerbaijani company uses the Northern Sea Route to China, a route dominated by Russian Sovcomflot vessels, despite high navigation costs.
Paret Mining LLC, headed by Emmanuel Fritz Paret, strengthens its position in the US energy sector with the acquisition of a 10,000-acre reserve in Kentucky, comprising oil and natural gas wells.
Paret Mining LLC, headed by Emmanuel Fritz Paret, strengthens its position in the US energy sector with the acquisition of a 10,000-acre reserve in Kentucky, comprising oil and natural gas wells.
In July, India became the biggest buyer of Russian oil, surpassing China, against a backdrop of Western sanctions against Moscow and changes in global trade flows.
In July, India became the biggest buyer of Russian oil, surpassing China, against a backdrop of Western sanctions against Moscow and changes in global trade flows.
Uganda is stepping up exploration in the Moroto-Kadam and Kyoga basins, aiming to boost its reserves to 6.5 billion barrels of oil, a strategic move to solidify its position in the energy industry.
Uganda is stepping up exploration in the Moroto-Kadam and Kyoga basins, aiming to boost its reserves to 6.5 billion barrels of oil, a strategic move to solidify its position in the energy industry.
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.
Georgia begins construction of its first oil refinery at Kulevi, with the aim of reducing its dependence on Russian imports and strengthening its energy autonomy.
Georgia begins construction of its first oil refinery at Kulevi, with the aim of reducing its dependence on Russian imports and strengthening its energy autonomy.
U.S. crude oil inventories fell by 4.6 million barrels, exceeding analysts' forecasts, due to increased refinery activity, despite higher imports and production.
U.S. crude oil inventories fell by 4.6 million barrels, exceeding analysts' forecasts, due to increased refinery activity, despite higher imports and production.
The oil tanker "Gulfstream", involved in a massive fuel oil spill off Tobago, has been refloated after six months of delicate operations.
An international investigation is underway to identify those responsible.
The oil tanker "Gulfstream", involved in a massive fuel oil spill off Tobago, has been refloated after six months of delicate operations.
An international investigation is underway to identify those responsible.
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.
