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Japan’s government will implement measures to ensure that the Israel-Iran conflict and potential escalation wouldn’t result in major spikes in gasoline prices in one of Asia’s most oil-import dependent large economies. More than 90% of the crudeoil Japan imports comes from the Middle East.
Alberta Premier Danielle Smith said on Wednesday the province is working to present Canadian Prime Minister Mark Carney with a proponent and route for a potential new crude pipeline from Alberta to the Port of Prince Rupert in British Columbia.
(Oil Price) – Kazakhstan’s crudeoil output jumped 7.5% Total oil and condensate production rose to 2.15 Chevron began a $48 billion expansion at Tengiz earlier this year, which has helped fuel Kazakhstan’s rapid supply growth despite a weak global oil price environment. in June to 1.88 million in May.
Crudeoil prices moved lower earlier today even after the latest round of talks between the United States and China on trade yielded positive results, as traders adopted a wary stance on the news. At the time of writing, Brent crude was trading at $66.82 At the time of writing, Brent crude was trading at $66.82
Nigerias government is urging the oil companies operating in the country to collaborate to increase oil output in the producer that hasnt been able to pump to its OPEC quota for years. Nigerias crudeoil production averaged 1.4 million barrels per day (bpd) in the first quarter of the year, well below the 1.8
Asias economies are more vulnerable to external trade shocks than other regions, but they would find low oil prices a boon to their government finances at times of heightened global economic uncertainty. The crude import bills are dropping, and they are already pushing oil import levels in major Asian
The expanded Trans Mountain pipeline in Canada could raise its capacity by another 75,000 barrels per day (bpd) by early 2027, which could potentially increase Canadian crudeoil exports from its Pacific Coast to non-U.S.
The UK government will impose sanctions on as many as 100 tankers that it says are used to ship Russian crudeoil abroad. This, Downing Street said, will make the UK the country that has sanctioned the most tankers carrying Russian oil. The UK has already sanctioned 41 vessels used to transport Russian oil abroad.
In a market increasingly governed by geopolitical tremors and macroeconomic mismatches, crudeoil dipping below $65 per barrel seems like a gift to global consumers. But behind that price tag lies a slow-moving crisis for U.S.
(World Oil) – Chevron Corp. and TotalEnergies SE are competing in Libya’s first energy exploration tender since the 2011 conflict, the country’s state-run oil firm said, as the OPEC member looks to oil majors to help ramp up production to a record. Waha Oil Co., Eni SpA and Exxon Mobil Corp. million bpd.
(World Oil) – Citing the latest Current Employment Statistics (CES) report from the U.S. This represented an increase of 600 jobs in the services sector and 1,600 jobs in oil and gas extraction. In May, Texas energy producers paid $411 million in oil production taxes, according to the Texas comptroller’s office.
(Investing) – Oil prices slipped lower Thursday, reversing sharp gains from the prior session after data showing an unexpected build in U.S. At 08:20 ET (12:20 GMT), Brent oil futures for September fell 0.4% a barrel, while West Texas Intermediate crude futures dropped 0.3% oil producers to ramp up output.
Crudeoil prices were set for a weekly gain earlier today, following the news that the U.S. federal government has slapped new sanctions on Chinese companies involved in oil trading with Iran. At the time of writing, Brent crude was changing hands for $66.41 per barrel, both up from opening. Sanctions
Russia expects its natural gas exports, including via pipeline and LNG, to jump twofold by 2030 and threefold to 2050 under its new long-term energy strategy approved by the government on Monday. Crudeoil and condensate production is targeted to increase from 531 million metric tons per year, or 10.66 million bpd, by 2050.
(World Oil) – The American Petroleum Institute today joined more than 100 other energy trade groups and organizations in urging the Department of the Interior to develop a new five-year offshore leasing program that fully leverages the U.S. crudeoil production, or nearly 2 million bopd. According to the U.S.
(BOE Report) – The Mexican association that groups major global oil services companies warned that it is going through an “unprecedented crisis” due to the lack of payments from the state-owned oil company Pemex, the world’s most indebted energy company.
(World Oil) –Ecuadors President Daniel Noboa has ordered a consortium seeking to take over the nations top oil asset to pay an entry fee of $1.5 Previously, the consortium of local subsidiaries of Chinese oil company Sinopec and New Stratus Energy Inc. billion by March 11, moving up the deadline by more than three weeks.
(World Oil) – Nigerian energy company Green Energy International (GEIL) has completed the development of the Otakikpo onshore terminal, situated in OML 11 near Port Harcourt. By March 2025, the facility began injecting crude, with GEIL’s production averaging 5,000 bpd.
(Oil Price) –Crudeoil and natural gas investments in Colombia could rise to $4.68 billion in 2024, the countrys oil and gas industry association said, adding that this will not lead to higher production. Colombia’s 2024 oil recovery rate averaged 27 percent, energy minister Andres Camacho said last May.
(World Oil) – Namibia will offer financial incentives to help kick-start the development of oil fields managed by a group led by TotalEnergies, according to a special adviser in the presidency. TotalEnergies and Shell Plc in 2022 made the first in a series of finds off the coast of the southwest African nation.
(Oil & Gas 360) – While prices show bearishness high, activity continues showing UP is the d irection we head needing more oil & natural gas, and a drilling boom. Uncertainty increasing helped by tariff and Government Shut-Down fears has the NASDAQ down at 17,303.01 today (Figure 1, green line), down 10.4%
The government of pro-market libertarian Javier Milei said it would appeal the ruling to “defend national interests.” 4 for shale oil, into a key global energy-producing region that would help bring in foreign currency needed to prop up the economy. 2 shale gas reserve and No. “It should bring in the U.S.
The Treasury Department sanctioned a Chinese oil refinery for purchasing $1 billion in Iranian crudeoil as part of a broader US crackdown on companies and vessels skirting US sanctions.
(Oil Price) –The April market rout, which crashed oil prices into the low $60s per barrel, is creating additional fiscal challenges to petrostates and oil-producing countries heavily dependent on oil revenues, on top of any tariff-related hardships. The price crash of the past week isnt helping at all.
(Oil & Gas 360) –HOUSTON(BUSINESS WIRE) Chevron Corporation ( NYSE: CVX ) announced today that it started oil and natural gas production from the Ballymore subsea tieback in the deepwater Gulf of America. This reduces our development costs and is expected to drive higher returns for shareholders. Malo facilities.
(BOE Report) – Traders have rebranded more than $1 billion of Venezuelan oil shipments to China as Brazilian crude over the past year, according to two tanker tracking firms, company documents and four traders, helping buyers to cut logistics costs and circumvent U.S.
The United States has pushed the Iraqi government to finalise an agreement with international oil companies (IOCs) to resume crudeoil exports through the Iraq-Turkey Pipeline (ITP). Reopening the ITP ensures Iraqi oil can reach global, especially European markets. companies. So we're - that's part of the issue.
(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.
(Oil Price) –The UK could produce about half of the energy it consumes locally, in the North Sea, the energy industry association, Offshore Energies, said this week, as quoted by the Financial Times. That would be on top of projected economic value creation of 200 billion pounds, or $258 billion, from domestic oil and gas production.
(World Oil) – The media are reporting new predictions that oil production in America is in irreversible decline. Apparently, peak oil is back in vogue, like it’s 2005 instead of 2025. And nowhere is that dynamic clearer than in Texas, the powerhouse of American oil and gas. Previous inaccurate predictions.
For the past 30 years, EnerCom Denver has been the largest independent investor conference for the global oil and gas and broadening energy industry that is open to all energy companies, investors, and professionals to participate. This year’s conference will occur August 17-20, 2025, at T he Westin Denver Downtown.
(Oil Price) –Mexicos state oil firm Pemex is holding discussions with crude buyers in Asia and Europe to potentially sell there its oil, which is now being taxed with a 25% tariff by its single biggest customer, the United States, a senior government official in Mexico told Reuters.
(World Oil) – bp has received final government ratification for its contract to invest in the redevelopment of several giant oil fields in Kirkuk, in the north of Iraq. This is an enormous opportunity as we grow bps oil and gas business and fully aligned with our strategy of strengthening our upstream portfolio.
(World Oil) – The Bureau of Ocean Energy Management (BOEM) has published a Proposed Notice of Sale (PNOS) for Lease Sale 262, the first of three offshore auctions in the Gulf of America under the 2024–29 Outer Continental Shelf Leasing Program. 10, 2025, which will be livestreamed.
(World Oil) –Nigerian President Bola Tinubu hired the former head of a unit of Shell Plc to run the state oil company, as Africas biggest crude producer works to boost output and prepare the firm for an initial public offering. Bashir Ojulari will replace Mele Kyari as head of NNPC Ltd.
(BOE Report) – Kazakhstans energy minister will stand down from his role, the countrys presidential office said on Tuesday, as the government struggles to convince U.S. and European oil companies to lower production that exceeds OPEC+ targets. The ministry did not disclose the outcome of the talks.
(World Oil) – Kazakhstan, which has created tensions within OPEC+ by consistently breaching its production limit, has no plans to cut oil output in May, the countrys Energy Ministry said. Kazakhstan typically pumps about 260,000 barrels a day of condensate, which is a type of a light oil. Last week, Chevron Corp.
(Oil Price) –Ever since BP admitted that its attempt to go green had ended in a disaster, the flow of news from the energy industry has been in one single direction: back to oil and gas, which make money. It also got an approval from the Iraqi government to start the development of two oil fields in the north.
(World Oil) – Libyas oil and gas sector is set for a new era of growth and investment following the announcement of its first exploration bid round in 17 years. Momentum is already building across Libyas energy industry, with several upstream developments demonstrating the countrys renewed focus growth and investment.
(Oil Price) –This week, a private arbitration panel in London began hearing the arguments of U.S. supermajors ExxonMobil and Chevron regarding their rights to one of the worlds most lucrative oil projects. Guyana is now the third-largest per-capita oil producer in the world, according to the U.S. supermajor. supermajor.
(Oil & Gas 360) – April 22, 2025 – For over 25 years, global petroleum consultancy Netherland, Sewell & Associates, Inc. NSAI) has hosted its highly regarded Oil & Gas Property Evaluation Seminar. NSAI is pleased to announce it is hosting a two-day session in Dallas on May 5 th and 6 th.
(Oil & Gas 360) – April 22, 2025 – For over 25 years, global petroleum consultancy Netherland, Sewell & Associates, Inc. NSAI) has hosted its highly regarded Oil & Gas Property Evaluation Seminar. NSAI is pleased to announce it is hosting a two-day session in Dallas on May 5 th and 6 th.
Oil and Gas 360 April 28, 2023 For over 25 years, global petroleum consultancy Netherland, Sewell & Associates, Inc. NSAI) has hosted a series of highly regarded oil and gas property evaluation seminars. The firm asks that you pass this information on to colleagues whom you think may benefit from attending.
percent decline in crudeoil production. Total crudeoil produced amounted to a total of 35.42 This decrease is linked to the natural decline in the Tweneboa, Enyenra, and Ntomme (TEN) field, leading to an escalation in the gas-to-oil ratio and water production in the Jubilee and Sankofa fields.
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