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Kazakhstan to Triple Fuel Exports by 2040 in $20 Billion Refining Push

OilPrice

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.

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Russia’s Oil Profits Tumble as Prices Fall and Sanctions Hit

OilPrice

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

Oil 262
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EIA report: Imports of energy to U.S. fall to 40-year low in 2024

Permian Basin Oil and Gas Magazine

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.

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How has the U.S. energy use changed since 1776?

Oil & Gas 360º

(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.

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Nigeria’s GEIL exports first crude from new onshore terminal

Oil & Gas 360º

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.

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U.S. oil imports from OPEC decline while imports from Canada nearly doubles

Permian Basin Oil and Gas Magazine

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.

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Al-Sisi Discusses Energy Security, Exploration Activities with Badawi

Egypt Oil & Gas

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.