The number of total active drilling rigs in the United States rose by 14 this week, on top of the 9 rig increase in the week prior, according to new data from Baker Hughes published […]
China kept buying more energy from Russia, with purchases of oil, gas and coal jumping 75% in April to over $6 billion, even as domestic demand slowed due to a resurgent virus and the US […]
In a statement posted on its Twitter page, ADNOC has announced multiple onshore oil discoveries in place totaling 650 million barrels of oil. In the statement, ADNOC outlined that the finds include 500 million barrels […]
A growing number of economists are warning that a recession could be on the horizon. A recession will surely impact oil demand, but it could just weaken its growth, not lead to an annual decline […]
China is seeking to replenish its strategic crude stockpiles with cheap Russian oil, a sign Beijing is strengthening its energy ties with Moscow just as Europe works toward banning imports due to the war in […]
(Bloomberg) — Expensive offshore exploration setbacks for international oil majors including Shell Plc and Exxon Mobil Corp. are throwing cold water on their plans to turn Brazil into a profit center. In the past three […]
(Reuters) – The amount of crude oil in the U.S. Strategic Petroleum Reserve (SPR) dropped by 5 million barrels in the week to May 13, data from the U.S. Department of Energy showed. Stockpiles in the […]
(Reuters) -U.S. energy firm Sempra Energy said on Monday it would sell three million tonnes of liquefied natural gas (LNG) each year to Poland’s PGNiG, in another sign of rising interest in U.S. supply following […]
HIGHLIGHTS More investment needed in existing oil projects: energy minister Huge shortfall of oil products due to lack of refining capacity Progress on Neutral Zone fields, working Durra development Saudi Arabia’s crude production capacity is […]
The oil ministers of Saudi Arabia and the United Arab Emirates warned that spare capacity is decreasing in all energy sectors as producers slash investment, causing everything from crude to diesel and natural gas to […]
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