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 […]
Relevant agreements were reached today at a meeting in Astana between Samruk-Kazyna group of companies and China National Petroleum Corporation (CNPC). From the Kazakh side, the negotiations were led by the head of the Fund, Nurlan […]
The Energy Information Administration has increased its forecast for U.S. oil production this year, projecting an increase of 720,000 barrels per day. While it expects U.S. oil production to increase, the EIA sees demand for […]
ConocoPhillips is set to develop its Nuna field project in Alaska and expects a peak oil rate of 20,000 barrels per day from the site, the company said in a news release. Construction will begin […]
Drilling activity continued to slump during the final week of May, led by a decline in Texas activity. Drilling is also being undercut by uncertain commodity prices and oil and gas producers’ continued focus on […]
Saudis offers new voluntary cuts of 1 mln bpd for July Russian, Nigerian, Angolan targets brought in line with output UAE allowed to raise production (Reuters) – Saudi Arabia will make deep production cuts in […]
Chinese scientists broke ground Tuesday on a planned 10,000-meter (32,808) foot hole into the Earth’s crust – the country’s deepest ever borehole according to Bloomberg, citing the Xinhua state-run news agency. The shaft will penetrate […]
By Charles Kennedy of OilPrice.com, ExxonMobil and Chevron could gain access to Algeria’s vast natural gas resources as the U.S. supermajors are in advanced talks for exploration and production deals in the North African country, […]
BERLIN (AP) — A senior United Arab Emirates official says the Gulf nation wants the U.N. climate summit it’s hosting later this year to deliver “game-changing results” for international efforts to curb global warming, but doing so […]
When I arrived a few months ago at one of the largest oil and gas industry conferences in Madrid, for a moment I thought I had come to the wrong place. The display of heavy […]
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