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Saudi Arabia is driving a faster-than-planned oil production ramp-up among the eight OPEC+ members that were keeping a cap on their output. Saudi Arabia is also raising its oil prices for Asian buyers amid falling benchmarks. This has confused some, even though the moves point in the same direction, of stronger demand down the road. Yet this stronger demand wont help the Saudis avoid some fiscal pain.
This is the tale of an Albanian businessman, French antique dealers, American florists and the Abu Dhabi royal family and an adulterous north-east couple on a quest to start a new life in Brazil. This is the story of the Britoil scandal Scotlands biggest ever fraud case.
Alongside environmentalists and climate scientists, Bill Gates is the latest public figure to call on high-income countries to do more to reduce their greenhouse gas emissions. While reducing emissions in developing countries can be difficult, due to a lack of funding and infrastructure, meaning it could take several more years to expand the renewable energy capacity of certain regions, Western nations have no such excuse.
Brazil is sending a message to the world that it can meet the needs of artificial intelligence (AI) with renewable energy, and the world is listening. The South American nation is flaunting its renewable energy sources and expansive energy grids to court tech companies to set up shop within its borders, and its working. Already, Amazon and Microsoft are setting up data centers across the country and pouring billions into the Brazilian economy.
The Central Asian state of Kazakhstan the worlds largest landlocked country has major renewable energy ambitions that include wind, solar, and hydropower, as well as green hydrogen, as part of the governments aims for a green transition. The government plans to support a shift away from a reliance on fossil fuels to a lower-carbon power sector. At present, coal continues to be Kazakhstans main energy source, providing around 64.7 percent of?
Lower oil prices over the first quarter of the year weakened Aramcos net profit, with the Saudi giant booking a net result of $26 billion, down from $27.3 billion a year earlier. Despite the weaker figures, the company decided to distribute a higher dividend for the quarter. While lower than a year ago, the net result was higher than what analysts expected, which was net earnings of $25.36 billion, per a Reuters poll.
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. sanctions.
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Oil prices rose on Monday after both sides in U.S.-China trade talks over the weekend touted their progress, which lifted market sentiment that the world’s two largest crude users may be moving toward a resolution of their trade dispute. Brent crude futures climbed 27 cents, or 0.4%, to $64.18 a barrel at 0001 GMT. U.S.
In todays volatile energy landscape, shale operators are leaning into a familiar playbookone forged through cycles of boom, bust, and adaptation. With WTI prices hovering around $60, executives across the U.S. oil patch are recalibrating operations and capital plans while reaffirming confidence in their long-cycle strategies built on cost discipline and optionality. $60 Is the New Normal for Shale Strategy The industry consensus is forming around $60 as a mid-cycle baseline , offering a durable
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In todays lower-for-longer oil price environment, U.S. shale operators must be relentless in their pursuit of cost efficiency. The ability to deliver production with a breakeven price of $40 or less isnt just desirableits essential. That level of performance is only possible through structural cost reductions across drilling, fracing, facility development, and production operations.
May 12, 2025 EU LNG imports hit a record high in April, with US imports also at record high as Russia's share declined. US shipments to the EU increased in recent months as they were diverted from Asia to Europe due to favorable price differentials. Consequently, China imported no US LNG, while Asian companies profited from diverting carriers to Europe.
U.S. oil production resilience depends on two pillars: An inventory of low-cost projects (sub-$40/bbl) Sustained operational activity to avoid decline and cost inflation Insights from the top oil & gas CEOs reinforce this modelbut they also reveal growing concern about capital discipline and production headwinds. The Cost Curve Advantage but Only if You Keep Drilling Ryan Lance (ConocoPhillips) underscores the advantage of inventory depth: We have decades of inventory below our $40 per barr
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