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The world needs $18.2 trillion in oil and gas investments through 2050 to ensure energy supply by the middle of the century, OPEC Secretary General Haitham Al Ghais has told Energy Connects in an exclusive interview. Oil demand is set to continue rising through 2050, with consumption expected at 123 million barrels per day (bpd) then, up from about 104 million bpd this year, according to OPEC’s annual World Oil Outlook (WOO) released last week.
Venture Global has quietly begun producing LNG from Phase 2 of its Plaquemines export terminal in Louisiana, sources told Reuters, marking a significant step in the company's ongoing strategy to front-load spot market profits while delaying deliveries to long-term customers. The move allows the recently public LNG player to sell cargoes at elevated spot market prices—reportedly earning $7.09 per MMBtu in Q2 2025—well above the $2.66 per MMBtu it collects under fixed-fee contracts at its now-comm
By John Lee. The Association of the Petroleum Industry of Kurdistan (APIKUR) has welcomed it described as renewed and intensified negotiations between the Kurdistan Regional Government (KRG) and the Government of Iraq (GoI) aimed at resuming oil exports via the Iraq-Türkiye Pipeline (ITP). The statement follows a high-level meeting held on 12th July 2025 between International Oil Companies (IOCs) operating in the Kurdistan Region - including APIKUR members - and representatives of both the KRG a
The Middle East is on track to surpass Asia to become the world’s second-largest gas producer in 2025, ranking only behind North America, according to Rystad Energy research and analysis. Gas production in the Middle East has grown by about 15% since 2020, and the future growth underscores the determination of regional producers to monetize gas reserves and develop export potential to meet global demand.
Jadestone Energy, an Asia-Pacific focused oil and gas company, has increased production rates expectations from the Montara field offshore Australia, as the drilling…
Saudi Arabia seeks to raise its solar and wind power capacity with multi-billion-dollar deals. The Kingdom, the world’s top crude oil exporter, wants to develop all forms of energy, diversify its economy from oil, and replace oil in power generation with renewables and natural gas. The Saudis are not abandoning their primary role in global oil production and supply.
July 14, 2025 Edition At Valor, our goal is to keep you informed of the latest news and updates from the oil and gas industry. We are committed to sharing the insights and knowledge that our team gathers to help you stay ahead in this dynamic sector. From mergers and acquisitions to regulatory changes and technological advancements, we cover all the key developments that impact the industry.
July 14, 2025 Edition At Valor, our goal is to keep you informed of the latest news and updates from the oil and gas industry. We are committed to sharing the insights and knowledge that our team gathers to help you stay ahead in this dynamic sector. From mergers and acquisitions to regulatory changes and technological advancements, we cover all the key developments that impact the industry.
Each year, the Statistical Review of World Energy offers important insights into global energy trends. Now published by the Energy Institute in collaboration with KPMG and Kearney, the 2025 edition—reflecting full-year 2024 data—reveals that global oil production and consumption remained relatively steady, but there are meaningful shifts underway.
When people think of the origins of the oil industry, their minds often go to Titusville, Pennsylvania, where Edwin Drake drilled the first successful oil well in the United States in 1859. While this site is historically significant, it is not the true birthplace of the oil well. That title belongs to a lesser known but historically monumental site: Bibi Heybat , located near Baku in present-day Azerbaijan.
July 14, 2025 Notice: There will be no Daily Energy Report tomorrow. Some of our team members are attending the Money Show in Las Vegas where Dr. Alhajji will deliver the keynote speech, “ Energy Markets Outlook: Debunking the Narratives.” We will post the video of the speech once available. Chart of the Day EOA: EU LNG Imports Rise to 51% of Total Gas Imports Share Summary In June, EU LNG imports stayed strong for the sixth month, totaling 9.05 million tons (mt) to offset lost Russi
The Middle East is powering ahead of global energy markets and is a magnet for international businesses, thanks to its pragmatic energy investment approach and enthusiastic tech adoption, according to the Energy Industries Council’s (EIC) latest Survive & Thrive report 90% of energy companies operating in the region reported growth in 2024, according to the EIC report, the highest across all regions surveyed, with further growth forecast in 2025.
(Oil Price) – Azule Energy, a joint venture of international majors BP and Eni, has discovered a major natural gas reservoir offshore Angola in the first gas-targeting exploration well in the oil-producing country. Azule Energy, the operator of Block 1/14, has announced a gas discovery at the Gajajeira-01 exploration well, located in the Lower Congo Basin in Angola’s waters.
The recent flare-up between Israel and Iran, followed by U.S. military engagement and a tenuous ceasefire, has once again exposed just how fragile the geopolitical architecture of global energy truly is. While open conflict has temporarily de-escalated, this latest episode shows that the risk of broader regional disruption remains very real. At the center of it all lies the Strait of Hormuz, the narrow maritime corridor through which a fifth of the world’s oil and a third of its LNG passes each
(World Oil) – Rising Phoenix Capital, an investment firm specializing in oil and gas mineral royalty acquisitions, today announced a new strategic acquisition in the Midland basin. The mineral rights, located in Ector and Midland Counties, TX, are operated by ConocoPhillips and were acquired through the firm’s Maroon Bells Fund, an income-focused mineral portfolio that has delivered consistent cash distributions.
Argent LNG, which signed a lease agreement with Port Fourchon last year, has now secured nearly 900 acres to build a two-phase liquefaction complex with a capacity of about 25 MMtpa.
You are using an outdated browser. Please upgrade your browser to improve your experience. Skip to main content Advertisement Register for Oilfield Technology magazine Sign in Contact us Home News Sectors Exploration Drilling & production Offshore & subsea Hydraulic fracturing Digital oilfield HSE Special reports Product news Magazine Webinars Spotlight interviews Events White papers Advertise Get your magazine Home Drilling & production 14 Jul 25 Expro secures contract with Woodside
Last December, Kinder Morgan’s Tennessee Gas Pipeline (TGP) subsidiary announced a final investment decision (FID) last December to build the Mississippi Crossing Project (MSX) Project after securing long-term, binding transportation agreements with customers for all the capacity (see TGP Announces FID on New 206-Mile Mississippi Crossing Pipe Project).
(Oil Price) – The U.S. Department of Energy has authorized the exchange of up to 1 million barrels from the Strategic Petroleum Reserve (SPR) to ease the crude shortage at Exxon’s refinery in Baton Rouge, Louisiana, after quality issues with the Mars crude grade emerged last week. DOE has authorized an exchange from the SPR with ExxonMobil Corporation “to address logistical challenges impacting crude oil deliveries to the company’s Baton Rouge refinery.
A pipeline court case to celebrate (we take our victories where we can find them). Washington Gas Light Company (WGL) seeks to install a 24-inch-diameter high-pressure natural gas pipeline through the Pimmit Hills neighborhood in Fairfax County, Virginia. Fairfax County is a suburb of Washington, D.C. The County Zoning Board of Appeals claimed the project.
Venture Global has started producing liquefied natural gas from Phase 2 of its Plaquemines export facility in Louisiana, according to two people familiar with its operations as well as LSEG ship tracking data and federal filings.
Azule Energy, a joint venture firm between BP and Eni, has made a gas discovery at the Gajajeira-01 exploration well, located offshore in the Lower Congo Basin, Republic of Angola…
West Texas, the heart of U.S. shale oil production, is experiencing a significant pullback in drilling activity. According to our analysis, 24 drilling rigs that were active in the Midland region during 2024 have not returned to drill in 2025 — a clear signal that the slowdown is real and gaining momentum. This localized drop mirrors national trends.
You are using an outdated browser. Please upgrade your browser to improve your experience. Skip to main content Advertisement Register for Oilfield Technology magazine Sign in Contact us Home News Sectors Exploration Drilling & production Offshore & subsea Hydraulic fracturing Digital oilfield HSE Special reports Product news Magazine Webinars Spotlight interviews Events White papers Advertise Get your magazine Home Drilling & production 14 Jul 25 Union Jack Oil plc sign farm-in agre
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 $66.50 -0.72% Brent Crude $68.84 -0.53% Natural Gas $3.43 -0.98% Latest Oil Prices SUBSCRIBE SEARCH ARTICLES NEW
(Oil & Gas 360) – Register for EnerCom Denver – The Energy Investment Conference, August 17-20, 2025 , featuring a broad group of public and private energy companies at www.enercomdenver.com at The Westin Denver Downtown. Conference Lineup Features C-Suite Representation from over 75 Confirmed Companies Industry Panel Topics Include The Resurgence of Exploration, Private Companies, The Rise of Asset-Backed Securitization and Private Capital Qualified Investors, Analysts and Energ
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 $66.77 -0.31% Brent Crude $69.03 -0.26% Natural Gas $3.46 -0.29% Latest Oil Prices SUBSCRIBE SEARCH ARTICLES NEW
OEUK has today responded to NESO’s latest Future Energy Scenarios report , which sets out four possible pathways for the UK’s energy transition. OEUK Market Intelligence Manager Ben Ward said: “This report makes one thing clear: the UK’s journey to net zero is becoming increasingly challenging, there is a need for an acceleration of the deployment of low-carbon energy sources in partnership with meaningful engagement with the public to shape the way we consume energy in the future.
As Guyana consolidates its position as a global offshore heavyweight, attention is shifting across the maritime border to Suriname. The geology is familiar, the operators are credible, and the development timelines are beginning to crystallize. What remains unclear is how far and how fast Suriname can go, and whether it intends to follow Guyana's high-volume path or chart a more calibrated trajectory.
Senior leaders from across the offshore energy sector and government will be in attendance of this year’s standout event, SPE Offshore Europe 2025, and opening for it with a 90-minute plenary session hosted at P&J Live in Aberdeen from September 2- 5. This year’s theme is ‘Unlocking Europe’s Potential in Offshore Energy’. Louise Kingham, Senior VP Europe and Head of Country at bp, will deliver an opening address alongside Norway’s Minister for Climate and the Environment, Andreas Bjelland Er
As BPX Energy moves into the second half of 2025, the U.S. onshore subsidiary of BP is doubling down on capital-efficient growth in the Permian and Eagle Ford basins while positioning itself to capture upside from strengthening gas markets in Haynesville. US Oil & Gas Operator Account Directory – $10 Buy Now Includes: Account Name, Location, Phone, Website, Wells Drilled….
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The uncertainty and angst spurred by the ongoing trade war doesn’t seem to have dampened foreign companies’ interest in acquiring upstream and midstream energy assets in the U.S. The recent rumor — still unconfirmed — that Mitsubishi Corp. is in talks to acquire Aethon Energy Management’s massive holdings in the Haynesville for a reported $8 billion is only the latest indication that overseas interest may be stronger than ever.
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Oil rose last week and is quiet today, more sanctions around. Today PetroTal report another set of cracking operational numbers from the Bretana field whilst Touchstone report from the newly acquired Central Block. Jadestone have results from the Skua-11ST well which are slightly mixed but overall positive and both Sound and Seascape update on IR. The post Oil price, PetroTal, Touchstone, Jadestone, Sound, Seascape.
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Global oil demand is set for continued robust growth to 2050, reaching almost 123 mn bpd by then, according to OPEC’s newly-launched 2025 World Oil Outlook (WOO) OPEC forecasts that the world will require more energy in the decades to come, with global energy demand set to expand by 23% to 2050. This will be driven almost entirely from developing regions, led by India, Other Asia, Africa and the Middle East.
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