Libya’s crude production has returned to 1.2 million b/d after the lifting of force majeure on oil fields and exports on July 15, state-owned National Oil Corp. said July 31, even as the OPEC member […]
Crude futures traded lower in midmorning trade in Europe on Aug. 1, as markets reacted to weakened economic activity in China with the Caixin PMI dropping to 50.4 in July. At 1107 GMT, October ICE […]
ExxonMobil and Chevron saw mounting oil and gas production from the US Permian Basin in Q2 2022, and outlooks continue to project double-digit growth for each in the giant West Texas and southeast New Mexico […]
America’s oil inventories are hovering around multi-year lows despite releases from the SPR. Distillate fuel oil inventories, which are most closely related to the economic cycle, are at the lowest for the time of year […]
SINGAPORE, July 28 (Reuters) – China’s CNOOC Ltd (0883.HK) has tapped commercial flows of oil and gas from a shale exploration well in the South China Sea, marking the first successfully drilled shale oil well offshore China, […]
DUBAI, July 29 (Reuters) – Saudi Arabia’s Energy Minister Prince Abdulaziz bin Salman met Russian Deputy Prime Minister Alexander Novak on Friday in Riyadh, the Saudi energy ministry said on Twitter. The two discussed the […]
With high oil prices and an incredibly tight physical oil market, Iran’s oil industry is bouncing back and providing the government with significant income. China, Russia, Turkey, Venezuela, and Afghanistan are all eager to increase […]
The American Petroleum Institute (API) reported a large draw this week for crude oil of 4.037 million barrels, while analysts predicted a draw of 1.121 million barrels. The build comes as the Department of Energy […]
U.S. supermajor ExxonMobil is continuing with its incredibly precise exploration of Guyana’s Stabroek block with two new discoveries southeast of the Liza and Payara developments. The exploration work in Guyana for Exxon appears laser-guided as […]
Oil companies are reaping the benefits of high energy prices. Indebted American oil and gas companies, armed with improved balance sheets, are finally drilling again. Oilfield services companies are among the biggest winners as demand […]
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