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Kazakhstan has unveiled an ambitious new energy strategy that will triple its petroleum product exports by 2040, with refined fuel volumes set to hit 39 million tons per year, up from 17 million now, with export share rising to 30% of total output.
The combined net profits of Russia’s oil and gas companies nearly halved in the first quarter from a year earlier, while petroleum revenues for the budget have been falling with the decline in oil prices in recent months. The net profits of the Russian oil and gas firms slumped to $9.9 billion (789.5
imported only 17 percent of its domestic energy supply in 2024 – half of the record share in 2006 and the lowest share since 1985. remained a net exporter of energy in 2024 for the third straight year after producing a record amount that exceeds consumption. The post EIA report: Imports of energy to U.S.
(EIA) – In 2024, the United States consumed about 94 quadrillion British thermal units (quads) of energy, a 1% increase from 2023, according to our Monthly Energy Review. Fossil fuels—petroleum, natural gas, and coal—accounted for 82% of total U.S. energy consumption in 2024. Data source: U.S.
The company broke ground on the construction of the facility in February 2023, with the development of storage facilities and the associated pipeline advancing in February 2024. Improved fiscals introduced through Nigeria’s Petroleum Industry Act in 2021 further enticed investments by both international and regional players.
Energy Information Administration, the share of the nation’s crude oil and petroleum imports from OPEC countries has declined 77 percent since 2006. EIA said total crude oil and petroleum imports from Canada to U.S. EIA said total crude oil and petroleum imports from Canada to U.S.
President Abdel Fattah Al-Sisi held a meeting with Prime Minister Mostafa Madbouly, and Karim Badawi, Minister of Petroleum and Mineral Resources. The meeting addressed the state’s efforts to secure citizens’ needs for petroleum products and provide natural gas to various state sectors, especially the electricity sector.
“Rounding out the picture, we anticipate another small increase in Strategic Petroleum Reserve (SPR) stocks (+0.3 Energy Information Administration (EIA) highlighted in its latest weekly petroleum status report. million barrels on June 21, 2024. million barrels on June 21, 2024, the report revealed.
“These new discoveries are a motivating factor in our ongoing efforts to attract private investment in the sector for the development and monetisation of natural gas,” said Paulino Jerónimo, chairman of the board of directors of Angola’s National Agency of Petroleum, Gas and Biofuels, ANPG.
refinery crude oil processing capacity grew by nearly 40,000 barrels per day in 2024 to 18.4 Motiva Enterprises’ Port Arthur, Texas, plant became the largest single refinery by capacity at 640,500 bpd, passing Marathon Petroleum’s Galveston Bay Refinery in Texas City, Texas, according to [Read more] million bpd, the U.S.
In liquefied petroleum gas (LPG), production rose from 2 million tonnes in 2024 to 3 million tonnes in 2025. Exports also surged from 250,000 tonnes in 2023 to 1 million tonnes in 2025. LPG systems were installed in over 41,000 homes and more than 38,000 vehicles.
oil producer had originally targeted a mid-2024 close for the deal. He abandoned his takeover bid for Anadarko Petroleum in 2019 after being outmanoeuvred by Occidental Petroleum’s higher offer. The offshore oilfield holds more than 11 billion barrels of oil and is one of the fastest-growing oil production regions in the world.
Among the 19 specific industry sectors TIPRO uses to define the Texas oil and natural gas industry, Support Activities for Oil and Gas Operations led in the ranking for unique job listings in May with 1,972 postings, followed by Gasoline Stations with Convenience Stores (1,447) and Petroleum Refineries (824).
million barrels per day in April, according to Monday’s Petroleum Supply Monthly from U.S. million b/d (highest since November 2024). crude oil production reached a record of 13.47 Energy Information Administration. That topped the record of 13.45 million b/d from March. percent to 5.77 percent in the past month to 2.19
“Rounding out the picture, we anticipate a small draw in SPR [Strategic Petroleum Reserve] stocks (-0.3 In its latest weekly petroleum status report, which was released on July 9 and included data for the week ending July 4, the U.S. million barrels on July 5, 2024, the EIA report showed. Total petroleum stocks were up 6.6
“With an equity production of about 137,000 barrels of oil equivalent per day in 2024, Eni stands as the most important international company operating in the country [Algeria]”, it added. Guern El Guessa II in the provinces of Bechar, Beni Abbes, El Bayadh and Timimoun was signed with China Petroleum and Chemical Corp.
“Rounding out the picture, we anticipate another small increase in SPR [Strategic Petroleum Reserve] stocks (+0.2 In its latest weekly petroleum status report at the time of writing, which was released on July 2 and included data for the week ending June 27, the U.S. million barrels on June 28, 2024.
million barrels on July 11, the EIA's latest weekly petroleum status report showed. commercial crude oil inventories, excluding those in the Strategic Petroleum Reserve (SPR), decreased by 3.9 Energy Information Administration (EIA) highlighted in its latest weekly petroleum status report. million barrels on July 12, 2024.
2),â Eurostat, accessed June 2024; âEmployment by sex, age, and detailed economic activity (from 2008 onwards, NACE Rev.2 2 two digit level)â1000,â Eurostat, accessed June 2024. In 2024, the European Commission set the CO 2 emission allowance cap at nearly 1.4 percent reduction factor for 2024 to 2027 and 4.4
This would add to costs, small independent producers and petroleum engineers tell Reuters. million bpd in 2025, up from more than 6 million bpd in 2024, the basin “is simultaneously generating an unprecedented volume of produced water—a costly and complex byproduct of hydrocarbon extraction,” B3 Insight said earlier this year.
million barrels on June 27, the EIA's latest weekly petroleum status report showed. commercial crude oil inventories, excluding those in the Strategic Petroleum Reserve (SPR), increased by 3.8 Energy Information Administration (EIA) highlighted in its latest weekly petroleum status report. million barrels on June 28, 2024.
“Rounding out the picture, we anticipate another small draw in SPR [Strategic Petroleum Reserve] stocks (-0.2 In its latest weekly petroleum status report, which was released on July 16 and included data for the week ending July 11, the U.S. million barrels on July 12, 2024. Total petroleum stocks were up 9.0
The awarded blocks include four new offshore blocks in the Mediterranean, which were part of the 2024 international bid round, and two onshore blocks in the Nile Delta and North Sinai.
million barrels on July 18, the EIA's latest weekly petroleum status report showed. commercial crude oil inventories, excluding those in the Strategic Petroleum Reserve (SPR), decreased by 3.2 Energy Information Administration (EIA) highlighted in its latest weekly petroleum status report. million barrels on July 19, 2024.
Of the five Petroleum Administration for Defense District (PADD) regions highlighted in the EIA’s latest fuel update, the West Coast was shown to have the highest regular gasoline price as of June 23, at $4.162 per gallon. per gallon overall in 2024. The update highlighted that the U.S. will average $3.16 averaged $3.10
When Vicki Hollub became the CEO of Occidental Petroleum nearly a decade ago, she made history as the first woman to lead a major U.S. One of her boldest moves was the acquisition of Anadarko Petroleum for $59 billion—outbidding Chevron and reshaping Oxy’s asset base. million bpd in 2024 , according to company filings.
from 2018-2024. NSAI) was founded in 1961 to provide the highest quality engineering and geological consulting to the petroleum industry. Today they are recognized as the worldwide leader of petroleum property analysis to industry and financial organizations, and government agencies. London, Mexico City, and Shanghai.
The Petroleum Projects and Technical Consultations Company (PETROJET) has completed the manufacturing of high-quality subsea systems that will be exported to Angola as part of a development project in the African country.
Actually, it was in late 2024 that the wireline sector witnessed a big move, when Axis Energy Services merged with Brigade Energy Services to create what the combined company—Dallas-based Axis Energy Services LLC —described as the largest well servicing company in America. Pintail’s 2024 revenues topped more than $400 million.
The two projects “will help Angola maintain its production levels above one million bpd”, said Paulino Jeronimo, chair of the National Agency for Petroleum, Gas and Biofuels. An exploration well, Dalia‑6, was also drilled 2024. In block 17/06, the co-venturers are Sonangol (30 percent), SSI (27.5
NSAI) was founded in 1961 to provide the highest quality engineering and geological consulting to the petroleum industry. Today they are recognized as the worldwide leader of petroleum property analysis to industry and financial organizations, and government agencies. (NSAI) Netherland, Sewell & Associates, Inc.
per gallon in 2024. Of the five Petroleum Administration for Defense District (PADD) regions highlighted in the EIA’s latest fuel update, the West Coast was shown to have the highest on-highway diesel fuel price as of July 14, at $4.498 per gallon. In its previous STEO, which was released in June, the EIA projected that the U.S.
miles Current Permitted Mileage (2024): 521.71 miles Current Permitted Mileage (2024): 521.71 miles Current Permitted Mileage (2024): 521.71 petroleum infrastructure—backed by careful planning, robust financial support, and community coverage.
“Supplies have been coming in through the country’s only operational floating import terminal, the Hoegh Galleon vessel, ship-tracking data compiled by Bloomberg show” Rigzone emailed comment requests to Egypt’s Ministry of Petroleum and Mineral Resources and Ministry of Electricity and Renewable Energy.
24413 of 2024 concerning preliminary approvals for the construction of industrial facilities and their entitlement to petroleum products from authorised distribution outlets. Coordination with the Ministry of Oil on these proposals was approved. The Council also considered potential amendments to Cabinet Decision No.
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. Sales of liquefied petroleum gas surged from 7,800 metric tons to 29,800 metric tons. million barrels to 1.85
International Petroleum Corporation (IPC or the Corporation) (TSX, Nasdaq Stockholm: IPCO) is pleased to announce that IPC repurchased a total of 125,600 IPC common shares (ISIN: CA46016U1084) during the period of June 2 to 6, 2025 under IPC’s normal course issuer bid / share repurchase program (NCIB).
Eco (Atlantic) Oil & Gas announce that, further to the Farm-In Agreement announced on 5 June 2024, formal approval has been received from the South Africa Department of Mineral and … Read More The post SOUTH AFRICA: Eco Atlantic Secures Exploration Right and Transfer of 75% Interest in Block 1 appeared first on oilnewsafrica.
NSAI) was founded in 1961 to provide the highest quality engineering and geological consulting to the petroleum industry. Today they are recognized as the worldwide leader of petroleum property analysis to industry and financial organizations, and government agencies. (NSAI) Netherland, Sewell & Associates, Inc.
The latest IPI figures from the Saudi statistics agency show that the IPI for the “Manufacture of coke and refined petroleum products” increased from 97.4 Any figure above 100 represents an increase against 2021 levels, and the April figure is the highest since at least January 2023 – the March figure was just below May 2024 levels.
NSAI) was founded in 1961 to provide the highest quality engineering and geological consulting to the petroleum industry. Today they are recognized as the worldwide leader of petroleum property analysis to industry and financial organizations, and government agencies. (NSAI) Netherland, Sewell & Associates, Inc.
million barrels on June 20, the EIA's latest weekly petroleum status report showed. commercial crude oil inventories, excluding those in the Strategic Petroleum Reserve (SPR), decreased by 5.8 Energy Information Administration (EIA) highlighted in its latest weekly petroleum status report. million barrels on June 21, 2024.
In Angostura, the National Gas Company of Trinidad and Tobago holds a 30 percent stake, while Chaoyang Petroleum (Trinidad) Block 2C Ltd. Perenco already produces hydrocarbons in the country through its operated Teak, Samaa and Poui fields, acquired 2016, and the Cashima, Amherstia, Flamboyant and Immortelle fields, acquired 2024.
billion change hands, which is a 60% decline compared with the same period of 2024. President Donald Trump unveiled an extensive list of trade tariffs in April, stoking concerns of a recession and a drop in fuel demand, and the Organization of the Petroleum Exporting Countries announced plans to unwind deep output cuts. There were $13.5
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