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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).
(Investing) – LONDON -OPEC said the global economy may perform better than expected in the second half of the year despite trade conflicts and refineries’ crude intake would remain elevated to meet the uptick in summer travel, helping to support the demand outlook. Global refinery crude intake posted a sharp increase of 2.1
According to the International Energy Agency, the Kingdom overshot its June production quota by a whopping 700,000 barrels per day, pumping 9.8 OPEC’s official production figures are due Tuesday, and some analysts have already suggested they’ll show near-perfect compliance. million bpd—the highest in two years.
During the exploration drilling carried out in December 2024, oil was found at a depth of 1,250 meters. The fact that we achieved this success in the concession belonging to Bzakerettye, which has an almost 100-year oil industry tradition, is clear evidence that there is still potential in hydrocarbon exploration in Hungary.
refineries typically undergo seasonal maintenance and turnaround activities in preparation for the summer driving season, when fuel demand significantly increases. However, this scheduled downtime temporarily reduces refinery utilization and the ability to capture revenue from margins, often impacting quarterly performance.
For investors, this sector offers diverse opportunities, ranging from upstream exploration to downstream refining and distribution. Upstream Investments; Exploration and Production (E&P): The upstream sector involves the search for oil and gas reservoirs and the extraction of these resources.
Upstream Midstream Downstream are terms commonly used in the oil and gas industry to describe different stages of the production and distribution process. Downstream is the refining and processing phase, where crude oil is transformed into refined products and chemicals. What is oil and gas upstream midstream downstream?
per share, on Tuesday that beat analysts expectations, and achieved its highest-ever first-quarter production of 853,000 barrels per day. Suncor also posted its best-ever first quarter for refinery throughput and sales. The company reported first-quarter profit of C$1.7 billion, or C$1.31
Despite the headwinds, Auchincloss highlighted BPs highest upstream operating efficiency in the history of the business, which included the best refinery availability in more than 20 years. That impacts supply, so were just cautiously moving forward.
“Crude remains in the crosshairs of lower prices near term as OPEC+ is signaling production, which will likely get approval at next weeks OPEC meeting,” said Dennis Kissler, senior vice president of trading at BOK Financial. Brent crude futures fell 18 cents or 0.2% Both contracts fell over 1% earlier.
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