This site uses cookies to improve your experience. To help us insure we adhere to various privacy regulations, please select your country/region of residence. If you do not select a country, we will assume you are from the United States. Select your Cookie Settings or view our Privacy Policy and Terms of Use.
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Used for the proper function of the website
Used for monitoring website traffic and interactions
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Strictly Necessary: Used for the proper function of the website
Performance/Analytics: Used for monitoring website traffic and interactions
After two years of playing the role of OPEC+ model citizen, Saudi Arabia has decided it’s time to loosen the tie—at least according to the IEA. According to the International Energy Agency, the Kingdom overshot its June production quota by a whopping 700,000 barrels per day, pumping 9.8 million bpd—the highest in two years. OPEC's official production figures are due Tuesday, and some analysts have already suggested they’ll show near-perfect compliance.
Offshore Energies UK (OEUK) has today proposed key reforms to accelerate offshore wind generation following the government’s publication of its Review of Electricity Market Arrangements (REMA). OEUK says the decision to take a national approach to pricing will encourage more wind energy investment to help the government hit its Clean Power 2030 targets and boost growth in the critical offshore energy supply chain.
OPEC released its 2025 World Oil Outlook 2050 yesterday at the OPEC Seminar 2025. The Outlook covers all energy industry segments, but here we focus solely on oil demand and supply. OPEC Global Oil Demand to Grow by 19.2 mb/d by 2050 Subscribe now Summary OPEC launched its World Oil Outlook 2050 yesterday during the OPEC Seminar 2025. Figure 1 is the most critical chart in the Outlook for the oil market.
Iberdrola has signed green financing agreement with 24 banks for the East Anglia THREE offshore wind farm, being developed together with Abu Dhabi Future Energy Company (Masdar)…
July 11, 2025 Chart of the Day OPEC: Global Oil Demand to Grow by 19.2 mb/d by 2050 Subscribe now Summary OPEC launched its World Oil Outlook 2050 yesterday during the OPEC Seminar 2025. Figure 1 is the most critical chart in the Outlook for the oil market. OPEC predicts global oil demand will rise by 9.6 mb/d to 113.3 mb/d by 2030 and by 19.2 mb/d to 123 mb/d by 2050.
The crude oil market traded with sharp volatility this week as traders balanced OPEC+ production increases, renewed geopolitical risks, and the threat of U.S. tariffs against evidence of strong underlying demand. This interplay shaped price action, with the market testing downside levels but finding bids on signs that supply additions may be absorbed more easily than feared.
ExxonMobil is the only one of the top seven U.S. operators to report an increase in active drilling rigs in the past year, according to Enverus’ latest Drill Down Report. ExxonMobil is the leading operator in both U.S. and Permian Basin. In the U.S., ExxonMobil reported 39 working rigs as of July 4 (weekly average of 36.9 for an increase of 1 rig from 35.9 this time last year).
ADNOC Gas has entered into a US$400mn three-year LNG supply agreement with Germany’s SEFE Securing Energy for Europe, as it continues to expand its global business The agreement is for the delivery of 0.7mn tonnes of LNG, which will be supplied from ADNOC Gas’ Das Island 6 mtpa liquefaction facility. It builds on the ongoing collaboration between the UAE and Germany, including the 2022 Energy Security and Industry Accelerator (ESIA) pact and the 2024 Joint Declaration with the state of Baden-Wür
ADNOC Gas has entered into a US$400mn three-year LNG supply agreement with Germany’s SEFE Securing Energy for Europe, as it continues to expand its global business The agreement is for the delivery of 0.7mn tonnes of LNG, which will be supplied from ADNOC Gas’ Das Island 6 mtpa liquefaction facility. It builds on the ongoing collaboration between the UAE and Germany, including the 2022 Energy Security and Industry Accelerator (ESIA) pact and the 2024 Joint Declaration with the state of Baden-Wür
(Investing) – VIENNA -The world oil market may be tighter than it appears despite a supply and demand balance pointing to a surplus, the International Energy Agency said on Friday, as refineries ramp up processing to meet summer travel demand. The IEA, which advises industrialised countries, expects global supply to rise by 2.1 million barrels per day this year, up 300,000 bpd from the previous forecast.
This week U.S. Energy Information Administration reduced its forecast for crude oil production this year. In its Short-Term Energy Outlook released Tuesday, EIA said, “Declining oil prices have contributed to U.S. producers slowing their drilling and completion activity this year. As a result, we forecast U.S. crude oil production will decline from an all-time high of just over 13.4 million barrels per day in the second quarter of 2025 to less than 13.3 million b/d by 2026Q4.
Under the contract scope, McDermott will execute the transportation and installation of flexible pipelines, umbilicals and associated subsea equipment for two new wells at the Papa-Terra field and two new wells for the Atlanta Phase 2 development.
Russia’s export revenue from crude oil and petroleum products slumped by 14% in June compared to the same month last year, the International Energy Agency (IEA) said in its monthly report published on Friday. The Kremlin received $13.57 billion from sales of crude and refined oil products last month, down by nearly 14% from a year earlier, according to the IEA’s estimates.
Operators must immediately start tackling their backlog of wells that are already due for decommissioning to stop rigs leaving the North Sea and prevent billions…
XCF announced an investment plan of nearly $1 billion over the next three years to build SAF production facilities, with most of its in-the-pipeline projects in the U.S.
Oklahoma City-based Mach Natural Resources said Thursday it has acquired oil and gas assets totaling about $1.3 billion to mark entry into Permian Basin and San Juan Basin to complement its existing operations in Mid Continent. The acquisitions from Sabinal Energy and entities owning oil and gas assets managed by IKAV Energy will nearly double Mach’s production from 81,000 boed to about 152,000 boed and grow its acreage by 700,000 acres or about 33 percent to 2.8 million acres.
Aker Solutions bagged a contract from Equinor to prepare the topside of Troll C to receive and process production from the Fram Sor subsea tie-in project.
India has sharply increased its crude oil imports from the United States and Brazil in the first half of 2025, marking a strategic deepening of ties with non-OPEC suppliers amid heightened global volatility and supply risk recalibrations. According to new data from S&P Global Commodity Insights cited by Indian media outlets, US crude shipments to India rose 51% year-on-year to 271,000 barrels per day between January and June, up from 180,000 bpd a year earlier.
By John Lee. Prime Minister Mohammed Shia Al-Sudani received Richard Howe, Executive Vice President of Shell , on Thursday to discuss expanding cooperation in Iraq's energy sector and exploring further investment opportunities. The meeting addressed the execution of major energy projects under existing contracts with international companies, particularly in natural gas investment aimed at achieving self-sufficiency.
(World Oil) – With the producer club nearing the end of a first phase of jumbo output hikes, the market’s attention is turning to what will come after. The organization and its allies have been voluntarily holding back a second, smaller tranche of supply, propping up oil prices. Focus is now on the group’s intentions for those barrels. “Our base case remains that they will be done raising production once the 2.2 million barrel-a-day round of cuts is unwound” at the group’s next meeting in
OTHER U.S. REGIONS: New York has got to face reality – we need natural gas; NATIONAL: TC Energy is bolstering America’s energy dominance through critical investments; Geothermal energy may be poised for growth thanks to shale drilling advances; Why is every natural disaster being politicized?; How AI and technology are reshaping the oil and gas.
(Oil Price) – Lower oil and gas prices are expected to dent the second-quarter earnings at BP, despite higher output and stronger refining margins. BP’s realizations in the oil production and operations segment are expected to be $600 million-$800 million lower in the second quarter compared to the first quarter, the supermajor said in a trading statement on Friday ahead of publishing full Q2 results on August 5.
Global oil supply growth is expected to materially exceed demand growth this year despite the tight market balance in the peak summer consumption season, the International Energy Agency (IEA) said in its monthly report on Friday. Following OPEC+’s supersized production hike for August, the IEA revised up its estimate of global oil supply growth to 2.1 million barrels per day (bpd) for 2025 in its Oil Market Report for July, up by 300,000 bpd from last month’s projection of 1.8 million bpd growth
Global demand for energy is on a rapid upwards trajectory, and oil will remain the single largest part of the mix, says Opec as it revised up its long-term demand outlook by nearly 3mn b/d. In a notable shift, road transportation is now the single largest driver of growth.
Exxon wrapped up its three-well East Med drilling campaign this week with the ‘significant’ Pegasus discovery offshore Cyprus. Nicosia and Exxon remain cautious about the discovery, but MEES understands reserves could be as high as 5tcf.
The total number of active drilling rigs for oil and gas in the United States slipped again this week, according to new data that Baker Hughes published on Friday, following a 8-rig decrease in the week prior. The total rig count in the US fell by 2 to 537 rigs, according to Baker Hughes, down 47 from this same time last year. The number of oil rigs fell by 1 to 424 after falling by 7 during the previous week—and down by 54 compared to this time last year.
The Emirati and Spanish companies signed a deal to co-invest EUR 5.2 billion in the under-construction 1.4-gigawatt East Anglia III wind farm in the North Sea.
La Coparmex declaró que mientras no se cumpla con el 100% de la deuda de Pemex hacia los proveedores, miles de empresas seguirán en riesgo de detener operaciones, despedir personal o incluso cerrar definitivamente La Confederación Patronal de la República Mexicana (COPARMEX) emitió un comunicado donde manifiesta su inquietud por el creciente adeudo que Petróleos Mexicanos (Pemex) mantiene con miles de compañías proveedoras , en su mayoría micro, pequeñas y medianas empresas mexicanas las cuales
SEARCH JOBS >> CREATE ACCOUNT SIGN IN Oil & Gas Jobs ▼ Search Jobs Jobs By Category Featured Employers Ideal Employer Rankings Oil & Gas News ▼ Headlines Most Popular Oil Prices Events Training Equipment SOCIAL Rigzone AI ▼ RigzoneGPT Chatbot Recruitment Job Postings & Talent Database Packages Search CV/Resumes Recruitment Dashboard Post Job FAQ | Advertise WTI Crude $68.41 +2.76% Brent Crude $70.35 +2.49% Natural Gas $3.30 -1.02% Latest Oil Prices SUBSCRIBE SEARCH ARTICLES NEW
President and CEO of Saab, Micael Johansson, discusses the significant role that innovation can play in scaling systems and solutions to increase security in Europe.
SEARCH JOBS >> CREATE ACCOUNT SIGN IN Oil & Gas Jobs ▼ Search Jobs Jobs By Category Featured Employers Ideal Employer Rankings Oil & Gas News ▼ Headlines Most Popular Oil Prices Events Training Equipment SOCIAL Rigzone AI ▼ RigzoneGPT Chatbot Recruitment Job Postings & Talent Database Packages Search CV/Resumes Recruitment Dashboard Post Job FAQ | Advertise WTI Crude $68.41 +2.76% Brent Crude $70.35 +2.49% Natural Gas $3.30 -1.02% Latest Oil Prices SUBSCRIBE SEARCH ARTICLES NEW
U.S. energy firms this week cut the number of oil and natural gas rigs operating for an 11th week in a row for the first time since July 2020 when the COVID-19 pandemic cut demand for the fuel, energy services firm Baker Hughes said in its closely followed report on Friday.
We continue to watch Libya unravel as rival power centers attempt to reassert territorial and institutional control, but international oil majors are re-engaging nonetheless, and analysts like to opine that their big oil money could help stabilize the country. That is a possibility; however, the reverse is currently more likely unless Benghazi and Tripoli find a way to split the spoils (as the only thing that would prevent another civil war).
(BOE Report) – U.S. natural gas storage is on track to end the April-October summer injection season at a three-year low of 3.797 trillion cubic feet (tcf) on October 31, 2025, according to analysts’ estimates. That compares with an eight-year high of around 3.938 tcf at the end of the summer injection season in 2024 and a five-year (2020-2024) average of 3.782 tcf.
In the recent case of Cactus Water Services LLC v. COG Operating LLC , the Texas Supreme Court addressed the question of who owns produced water resulting from oil and gas production. Produced water, consisting of salt water mixed with oil, drilling fluids and fracking fluids, has long been considered to be waste. Operators customarily hire a company to haul it away and dispose of it.
UK-based explorer Pantheon Resources is moving forward with its Alaska drilling campaign despite recent setbacks at its Megrez-1 exploration well. In May, the company reported that Megrez-1 produced over 2,000 barrels per day of liquids—but no meaningful oil or gas. The well was suspended, and shares dropped to 20.65 UK pence. Now, Pantheon is refocusing its efforts on the Dubhe-1 appraisal well, targeting the Ahpun Topset horizon , a reservoir with 282 million barrels of liquids and 804 Bcf of
Weekly Middle East Oil & Gas News and Analysis covering Oil & Gas, Transportation, Power & Water, Refining & Petrochemicals, OPEC, Corporate, Geopolitical Risk, Economics & Finance, and Industry Data.
We organize all of the trending information in your field so you don't have to. Join 5,000+ users and stay up to date on the latest articles your peers are reading.
You know about us, now we want to get to know you!
Let's personalize your content
Let's get even more personalized
We recognize your account from another site in our network, please click 'Send Email' below to continue with verifying your account and setting a password.
Let's personalize your content