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Aramco Greenlights $5 Billion Zuluf Expansion As Q2 Earnings Set to Dip

OilPrice

Saudi Aramco has awarded a fresh round of contracts for the mammoth Zuluf oilfield expansion—an offshore project worth around $5 billion, aimed at boosting production capacity by more than 600,000 barrels per day.

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Who is the Upstream Industry's Most Admired Explorer?

Rigzone

by Andreas Exarheas | Rigzone Staff | Monday, June 30, 2025 | 6:54 AM EST Wood Mackenzie reveals who was crowned the 'most admired upstream explorer' in the company's latest Annual Exploration Summit Survey. “The company has set a new benchmark in opening up a deepwater frontier at pace.

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Record production at Exxon and Chevron humbles European rivals: Bousso

Oil & Gas 360º

million barrels of oil and gas equivalent per day (boed) in the second quarter, up by 6% from a year ago and a record for the period, following last year’s $60 billion acquisition of Pioneer Natural Resources and rising output from low-cost operations in the Permian shale basin in the United States and offshore Guyana. Exxon pumped 4.63

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Oil Review Middle East - Untitled Article

Oil Review Middle East

Global gas flaring at upstream oil and gas facilities has risen for a second year in a row, according to the World Bank’s annual Global Gas Flaring Tracker Flaring rose by 2% to 151 billion cubic meters (bcm) in 2024, the highest level in almost two decades. The solutions exist.

BCM
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WTI and Permian Gas Price Trends

Permian Basin Oil and Gas Magazine

In the second half of 2025, West Texas Intermediate (WTI) is expected to average around $66 per barrel, reflecting elevated geopolitical risk premiums—particularly due to tensions in the Middle East—while tempered by ample global supply growth. The basis differential to Henry Hub remains wide, with prompt Waha strip trading between –$2.00

Gas
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Chevron’s Permian production tops 1 million boe/d, executives shift focus to cash flow

Oil & Gas Journal

times the barrels it does in the Denver-Julesburg basin and five times as many as in the Bakken—is in the lead when it comes to the focus on cash flow. That figure, he added, will drop in 2026 as the company’s teams look to merely sustain production. That pushed earnings at its US upstream division down to $1.4

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Equinor, Shell Unveil Name of UK North Sea JV

Rigzone

Adura, which will be equally owned, combines the two companies’ offshore assets in the UK, where Shell currently produces over 100,000 barrels of oil equivalent a day (boed) and Equinor about 38,000 boed. “Adura is expected to produce over 140,000 barrels of oil equivalent per day in 2025”, Equinor said.