Iraq Business News: Oil & Gas

AUGUST 6, 2025

Iraq's Minister of Oil, Hayan Abdul Ghani, has reportedly announced that the country will resume crude oil exports through the Ceyhan pipeline to Turkiye either today (Wednesday) or tomorrow. Source: INA) The post Iraq "to Resume Oil Exports via Turkiye this week" first appeared on Iraq Business News. By John Lee.

Oil

Oil & Gas 360º

JUNE 23, 2025

The facility will play an instrumental part in supporting the country’s crude production goals The Otakikpo terminal was developed in two years—six months ahead of schedule.

Field

Oil & Gas 360º

JULY 16, 2025

Exxon-owned Imperial and its competitor Suncor have also switched to autonomous mining vehicles, eliminating the need to hire drivers to transport oil sands ore. The switch has improved oil output productivity at Imperial’s Kearl oil sands mine by 20% since 2023, the company said.

Oil

Oil & Gas 360º

JUNE 19, 2025

oil exports. Stockpiles there are now the lowest since December 2023. The drawdown was driven by a combination of rising demand from refiners, who are producing increasing amounts of gasoline as the summer driving season kicks off, as well as a drop in net crude imports. Energy Information Administration (EIA).

Oil

Oil & Gas 360º

JULY 21, 2025

oil producer managed to delay the tie-up by over a year, costing its rival billions in lost Guyana oil revenue and slowing integration. Chevron’s deal, first announced in October 2023, closed on Friday after a drawn-out dispute over Hess’s 30% stake in Guyana’s Stabroek block, the most attractive asset in its portfolio.

Casing

Oilfield Technology

JULY 28, 2025

According to data collected by the US Department of the Interior’s Office of Natural Resources Revenue, onshore crude oil production from federal lands reached 1.7 Most of this growth was in New Mexico from crude oil produced from federal lands in the Permian Basin. million bpd in 2024, a record high.

Crude Oil

Oil & Gas 360º

AUGUST 5, 2025

BP, which has been in deep turmoil following a leadership and strategy crisis which began in 2023, has plans for several new upstream projects in the coming years, including in Iraq and a complex development in the Kaskida field in the Gulf of Mexico. ROI delivers thought-provoking, data-driven analysis. Markets are moving faster than ever.

Upstream

Rigzone

AUGUST 1, 2025

“The ‘OPEC+ eight’ (the eight members who agreed additional voluntary output cuts in November 2023) meet on August 3, and we expect a decision to complete the unwind of that tranche of cuts, adding back 548,000 barrels per day to September targets,” the analysts said in the report.

Barrel

Valor

JUNE 30, 2025

Read more Oil set for steepest weekly decline in two years as risk subsides Summary : Oil was set for its steepest weekly drop (~12%) since March 2023 as Mideast risk premium evaporated, with Brent crude falling from over $80 during the 12-day conflict to $68.15. oil and gas reserves Summary : A new EIA report shows U.S.

Energy

Valor

JUNE 9, 2025

energy production hit a record high of over 103 quadrillion British thermal units, up 1% from 2023. Natural gas led with 38% of total production, followed by crude oil at 27%, which reached a record 13.2 million barrels per day, a 2% increase from 2023. per barrel on June 6, its tightest since September 2023, due to U.S.

Energy

Oil & Gas 360º

JULY 1, 2025

In 2023, Preska awarded $14.4 .” The legal dispute arose from Argentina’s 2012 seizure of the 51% YPF stake held by Spain’s Repsol (OTC: REPYY ), without tendering for shares held by minority investors Petersen Energia Inversora and Eton Park Capital Management. billion to Petersen and $1.7

Government

Oil & Gas 360º

JUNE 23, 2025

Energy Information Administration (EIA) showing domestic crude oil production reached an all-time high of 13.5 Oil production has jumped this year after hitting a record 13.2 million bpd in 2024, 2 percent more than the previous record set in 2023. million barrels per day in the second quarter of 2025.

Gas

Valor

JULY 21, 2025

Read more US drillers add oil/gas rigs for first time in 12 weeks, Baker Hughes says Summary : For the first time in 12 weeks, the U.S. oil and gas rig count rose, climbing seven to 544 as of July 18, the largest weekly gain since December but still down 7% year-over-year.

Energy

Oil Gas Leads

JUNE 11, 2025

MBOE/d (Q4 2024; 24% oil) ~$260–$280 MM planned 2025 ~1 rig (reduced from 2 in mid-2024) Devon Energy ~79 MBOE/d (Q1 2025; ~15% oil) ~$150 MM planned 2025 2 rigs in 2025 (down from 3 in 2024) Coterra Energy ~64 MBOE/d (2024 avg) ~$289 MM in 2024 1 rig at end-2024 (added rig in 2025) Continental Resources (private) ~32% of co.

Operator

Oil & Gas 360º

AUGUST 6, 2025

The 2023 Chambers USA Legal Guide ranked 31 different firm practice areas, and in 2024, Haynes Boone became the first Am Law 100 firm to ever earn a Gold-level Bell Seal from Mental Health America. News & World Report and Best Lawyers “Best Law Firms” 2023 survey ranked Haynes Boone in National Tier 1 in Oil & Gas Law.

Energy

Oil & Gas 360º

JULY 14, 2025

The 2023 Chambers USA Legal Guide ranked 31 different firm practice areas, and in 2024, Haynes Boone became the first Am Law 100 firm to ever earn a Gold-level Bell Seal from Mental Health America. News & World Report and Best Lawyers “Best Law Firms” 2023 survey ranked Haynes Boone in National Tier 1 in Oil & Gas Law.

Energy

Oil & Gas 360º

JUNE 6, 2025

This transaction, combined with the sale of our East Finn assets in 2023, completes our exit from the United States, allowing us to focus on our core gas-weighted assets in Canada and Europe,” Vermilion said in a statement.

Energy

Oil & Gas Journal

AUGUST 4, 2025

The partners confirmed the new plant will specifically use a feedstock of sustainable vegetable oils such as used cooking oils, among other unidentified bio-based waste and residues. 14, 2023 ). 14, 2023 ). 14, 2025 ).

Exploration and Production

Oilfield Technology

AUGUST 4, 2025

Argos, which began production in 2023, is bp’s fifth operated production platform in the Gulf of Mexico with a gross production capacity of up to 140 000 bpd. From the completion of the appraisal well in May 2023 to first oil, the project reached startup in approximately 25 months – setting a record for bp.

Exploration and Production

Oil & Gas 360º

JUNE 19, 2025

The 2023 Chambers USA Legal Guide ranked 31 different firm practice areas, and in 2024, Haynes Boone became the first Am Law 100 firm to ever earn a Gold-level Bell Seal from Mental Health America. News & World Report and Best Lawyers “Best Law Firms” 2023 survey ranked Haynes Boone in National Tier 1 in Oil & Gas Law.

Energy

Oil & Gas Magazine

JULY 2, 2025

En 2023-2024 los ingresos petroleros (renta petrolera) representaron alrededor del 17–20% de los ingresos presupuestarios totales del gobierno federal. La política del gobierno mexicano en 2022-2023 ha sido proteger a los consumidores de combustibles mediante estímulos fiscales al IEPS (impuesto especial a gasolinas y diésel).

E&A

CNBC: Energy

AUGUST 5, 2025

Logo of Aramco, officially the Saudi Arabian Oil Group, Saudi petroleum and natural gas company, seen on the second day of the 24th World Petroleum Congress at the Big 4 Building at Stampede Park, on September 18, 2023, in Calgary, Canada. The world's largest oil company declared an adjusted net income of 92.04

Upstream

Rigzone

JULY 7, 2025

Earlier, ORLEN terminated all contracts for deliveries to Poland via the Druzhba pipeline and ceased importing Russian oil by sea, the company said in a news release. Since April 2023, all of the crude processed by ORLEN’s Polish and Lithuanian refineries has been sourced from non-Russian sources, the company stated.

Oil

Rigzone

JULY 24, 2025

“Our crude oil money-manager positioning index for the main WTI contract indicates a high degree of bearishness at -75.7, “This is the third week in a row that the Brent and WTI positioning indices have moved in opposite directions; there were no such three-week runs in either 2023 or 2024. ” they said.

Oil

Oil Review Middle East

JUNE 30, 2025

But global energy demand is rising even faster, with total fossil fuel use growing by just over 1% and oil remaining the largest source of energy, accounting for 34% of total global demand. The USA is the world’s largest oil producer, accounting for 20% of global production in 2024. as gas markets rebalanced after the 2023 slump.

BCM

Rigzone

JULY 15, 2025

China refined the most crude oil in nearly two years in June, as plants returned from seasonal maintenance to seize on better margins for fuels like diesel.

Maintenance

Oil & Gas 360º

JUNE 24, 2025

(BOE Report) – OTTAWA – A peer review of fossil fuel subsidies between Canada and Argentina — already years behind schedule — stalled after Argentina ceased communication following its 2023 election and subsequent change in government. In 2023, Canada ended federal subsidies specific to the oil and gas sector.

Completion

Valor

JULY 7, 2025

This relief for over 61 million travelers is driven by cheap crude oil, as the U.S. Key commitments include ExxonMobil’s pledge of up to $30 billion for lower-emission projects by 2030 and Shell’s $10-$15 billion investment in low-carbon solutions for 2023-2025.

Energy

Oil Gas Leads

JULY 15, 2025

The Wink to Webster Pipeline , operated by ExxonMobil , is one of the most critical crude oil transportation systems in North America, linking the prolific Permian Basin to key Gulf Coast refining and export hubs. Spanning over 640 miles with a 1.5 Spanning over 640 miles with a 1.5 midstream infrastructure.

Pipeline

Oil & Gas 360º

AUGUST 5, 2025

In the Permian’s Midland basin, oil companies have raised the number of feet drilled per month per rig, or drilling efficiency, by 25% since the first quarter of 2023, according to Novi Labs. Closing Bell Story‎ Commodities Crude Oil United States onshore oil output productivity U.S. rig count

Oil

Rigzone

JULY 17, 2025

The field had already stopped supplying natural gas to Darwin LNG late 2023 due to depletion but Santos said in 2024 Bayu-Undan would continue sending gas to Australia’s Northern Territory until the end of that year. Crude oil sales increased from 1.26 Domestic gas sales rose from 45.8 petajoules in Q1 to 51.2

Oil

Oil & Gas 360º

JUNE 27, 2025

(Investing) – LONDON (Reuters) -Oil prices rose on Friday but were set for their steepest weekly decline since March 2023, as the absence of significant supply disruption from the Iran-Israel conflict saw any risk premium evaporate. Brent crude futures were up 42 cents, or 0.6%, to $68.15 a barrel at 1328 GMT, while U.S.

Oil

Oil & Gas 360º

JULY 14, 2025

Saudi’s increase in domestic consumption initially meant its oil exports only rose from 5.9 million bpd in July, the highest since April 2023. million bpd in April to 6.4 million bpd in June, according to Kpler data. Saudi shipments are, however, set to surge to 7.5

Oil

Rigzone

JULY 17, 2025

The field had already stopped supplying natural gas to Darwin LNG late 2023 due to depletion but Santos said in 2024 Bayu-Undan would continue sending gas to Australia’s Northern Territory until the end of that year. Crude oil sales increased from 1.26 Domestic gas sales rose from 45.8 petajoules in Q1 to 51.2

Barrel

Oil & Gas 360º

JULY 23, 2025

upstream oil and gas sector, analytics firm Enverus said on Wednesday. The slump in dealmaking follows a series of blockbuster takeovers by oil and gas majors in recent years, which culminated in a record $192 billion worth of deals done in 2023. There were $13.5 The first half of 2025 saw a total of $30.5 upstream volatility

Upstream

CNBC: Energy

JUNE 23, 2025

Morteza Nikoubazl | Nurphoto | Getty Images "Some tanker owners may feel that China, who buys 90% of Iranian crude oil along with significant quantities of oil from the Middle East, is pressuring Iran not to disrupt shipping," Lipow added. In 2023, oil flows through the waterway averaged 20.9

Electronics

Energy Outlook Advisors

AUGUST 6, 2025

Trade direction shifted due to G7/EU sanctions on Russian oil, benefiting major Indian oil companies. Most discounts on Russian crude stem from high shipping costs, not direct savings for refineries. Figure (1) shows India’s crude oil imports since 2017. Data for 2025 are only for the first seven months.

Oil