(WO) – OMV Petrom, the largest integrated energy company in Southeast Europe, announces the discovery of new crude oil and natural gas resources in the Oltenia and Muntenia regions of southern Romania. Cumulatively, the discovered […]
The company aims to increase production capacity from the current output of nearly 90,000 barrels of oil equivalent per day (boepd) to more than 500,000boepd by 2033. Norwegian oil giant Equinor is planning to boost oil production […]
WASHINGTON — Congress tucked into the debt limit-raising law a host of provisions to accelerate new energy projects, such as pipelines that could move cheap natural gas from West Texas to energy-thirsty consumers in California […]
(Reuters) – Shell will keep oil output steady or slightly higher into 2030 as part of CEO Wael Sawan’s efforts to regain investor confidence as the energy giant wrestles with poor returns from renewables while […]
The UK government has announced new oil and gas tax changes, which it says are set to protect energy security and British jobs. In a statement posted on its website, the government noted that the […]
Drilling activity continued to slump across the board, though the decline appears to have slowed. Oilfield services firm Baker Hughes said Friday its US rig count, which it has released weekly since 1944, dipped by […]
U.S. drillers have the potential to double oil output from existing wells, thanks to new drilling efficiencies and innovations such as shale well refracturing Higher drilling efficiency is driving U.S. oil production to new highs […]
Earnings from existing oil and gas reserves can be used to fuel investment in new, clean energy solutions. Recent news that oil major ExxonMobil (XOM -0.39%) purchased drilling rights in the potentially lithium-rich Smackover formulation in Arkansas is more […]
The oil company CEO was practically giddy, she was so excited about its record earnings. On a call with shareholders and analysts on March 31, Occidental Petroleum’s Vicki Hollub bragged that the century-old oil giant was […]
Last year was a great time to be in the oil business. Thanks to high prices topping $120 a barrel in June 2022, ExxonMobil made a record $62 billion in profits, and advanced seven spots […]
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