OilPrice

MAY 27, 2025

With six little words, Elon Musk has relegated the oil industry to a historical footnote. This, despite the oil industry underpinning the workings of the entire world. Compared to solar, oil is small-time, Musk posted on X, delivering a withering verdict on the fossil fuel era. No charts, no caveats.

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OilPrice

MAY 14, 2025

Crude oil inventories in the United States saw an increase of 4 million barrels during the week ending May 9, according to new data from the U.S. Energy Information Administration released on Wednesday. Crude oil prices were trading down prior to the crude data release by the U.S. Energy Information Administration.

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OilPrice

MAY 13, 2025

The worlds biggest oil and gas firms are embracing AI and related technology to maximize savings, optimize operations, and boost earnings. Digitalization is not new to the energy sectoroil producers and utilities have been using and perfecting it for years.

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OilPrice

MAY 1, 2025

Russia expects 24% lower revenues from oil and gas this year compared to earlier estimates, following the oil price crash that began in early April and sank the price of its flagship Urals crude close to the $50 per barrel mark. Russia now sees its oil and gas revenues at about $101.7 billion (8.32 billion (8.32 billion (10.9

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OilPrice

MAY 29, 2025

Kazakhstan cannot reduce its oil production as it has no right to impose output reductions on international firms that are operating more than 70% of Kazakhstans oilfields, Energy Minister Yerlan Akkenzhenov said on Thursday.

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OilPrice

JUNE 5, 2025

Engineers at MIT have developed a new approach to crude oil fractionating that could slash the amount of energy needed for processing the crude into different fuels by as much as 90% in a breakthrough that could revolutionize fuel production.

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OilPrice

MAY 22, 2025

Rising oil and natural gas production from the 7.7-million-acre President Javier Mileis economic shock therapy, coupled with soaring oil and natural gas production, has put Argentina on the path to recovery.

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OilPrice

JUNE 2, 2025

During a meeting with oil and gas executives in Canadas oil-producing province of Alberta, Canadian Prime Minister Mark Carney pledged that the federal government would work to fast-track major projects to make Canada an energy superpower. We met with leaders in clean and conventional energy today in Calgary.

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OilPrice

JUNE 5, 2025

Calgary-based Vermilion Energy Inc. The assets in the sale consist of about 5,500 barrels of oil equivalent per day boe/d of production, of which 81% is oil and liquids, as well as 10 million barrels of oil equivalent of proved developed producing reserves, Vermilion Energy said on Thursday.

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OilPrice

MAY 23, 2025

Kazakhstan is likely to top its oil production plan this year, due to the expansion of the Chevron-led Tengiz field, Kazakhstans Energy Minister Erlan Akkenzhenov said on Friday, in yet another snub at OPEC+ quotas. Earlier this year, Kazakhstans energy ministry said that the country plans to produce a total of 96.2

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OilPrice

APRIL 29, 2025

Canadian energy producers are focusing more on natural gas as oil prices suffer the combined effects of the U.S. Bloomberg this week cited data from the Alberta Energy Regulator showing that new well-drilling licenses issued presidents tariff offensive against the world and OPEC+s decision to change tack and boost output.

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OilPrice

MAY 15, 2025

The term peak oil has sparked debate for decades, fueling speculation and more than a few forecasts of doomsday scenarios. Thats unfortunate, because peak oilboth in theory and in practicestill carries serious implications for the global economy and energy markets. But for all the noise, it remains a largely misunderstood concept.

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OilPrice

MAY 20, 2025

The American Petroleum Institute (API) estimated that crude oil inventories in the United States rose again, this time by 2.499 million barrels in the week ending May 16 after analysts had estimated a 1.85-million-barrel Earlier this week, the Department of Energy (DoE) reported that crude oil inventories in the Strategic Petroleum Reserve

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OilPrice

MARCH 11, 2025

The world needs upstream investments in existing oil and gas fields to support global energy security, Fatih Birol, the executive director of the International Energy Agency (IEA), said at the CERAWeek by S&P Global conference in Houston.

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OilPrice

JUNE 4, 2025

Crude oil inventories in the United States fell by 4.3 Energy Information Administration released on Wednesday. Crude oil prices were trading up prior to the crude data release by the U.S. Energy Information Administration. crude oil inventories, with a sizable build in gasoline stocks. million barrels in U.S.

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OilPrice

JUNE 6, 2025

Treasury Department has unleashed a sweeping wave of sanctions targeting a sprawling network of companies and individuals accused of facilitating Iranian oil and petrochemical exports in violation of existing sanctions. At the center of the designations is Nasser Zarrin Ghalam and Partners Company, based in Tehran, which U.S.

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OilPrice

MAY 28, 2025

For most of the past century, energy producers could count on steady oil demand growth. From industrial development in China to population booms in emerging markets, the global appetite for oil kept expanding like clockwork. Energy Information Administration (EIA) suggests that the world may

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OilPrice

MARCH 19, 2025

Exxon is planning to boost its oil production regardless of where international oil prices are heading. It also likely reflects the sentiment across the supermajor segment of the energy industry. This comes from a senior company executive who spoke to Semafor this week.

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OilPrice

APRIL 16, 2025

crude oil production is set to peak at around 14 million barrels per day (bpd) in 2027, according to the Annual Energy Outlook 2025 of the U.S. Energy Information Administration (EIA). Shale-only oil production in the United States will also peak in 2027, the EIAs outlook says.

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POWER Magazine

MARCH 6, 2025

based energy tech company Baker Hughes is joining with Australia's Woodside Energy in an initiative to develop a lower-carbon power generation technology solution specifically designed for oil and gas, heavy industries, and other smaller-scale applications.

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OilPrice

JUNE 2, 2025

The decision came amid expectations of a bigger hike that had weighed on energy stocks prior to the latest meeting of the group. Following the OPEC+ decision, oil prices actually jumped. The oil market just remembered that geopolitics exists. It had the potential to hurt energy stocks because of a perceived

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OilPrice

JUNE 4, 2025

WTI oil prices are set to average $58.30 production and relatively stable global oil demand, a survey of banks by law firm Haynes Boone showed on Wednesday. A total of 28 banks a record high number participated in Haynes Boones Spring 2025 Energy Bank Price Deck Survey, now in its 12th year.

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OilPrice

MAY 15, 2025

Significantly lower oil prices in April sent Russias oil export revenues down to the lowest level in nearly two years as the price of Russian grades fell alongside the benchmark international prices, which lost about $10 per barrel last month. Russias revenues from oil exports slumped to $13.2

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OilPrice

MAY 27, 2025

The boss of Enquest has slammed the windfall tax on oil and gas firms as doing irreversible damage to the industry and driving job losses across the sector. The UK Energy Profits Levy (EPL) was introduced in May 2022 and applies to oil and gas companies operating in the North Sea.

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OilPrice

APRIL 23, 2025

Kazakhstan has sparked fresh tensions within OPEC+ by asserting that its oil production strategy will be governed by national interests rather than group quotas, raising questions about future compliance and cohesion within the cartel.

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OilPrice

MARCH 25, 2025

The American Petroleum Institute (API) estimated that crude oil inventories in the United States fell by 4.6 So far this year, crude oil inventories have climbed more than 16 million barrels, according to Oilprice calculations of API data. million barrels for the week ending March 21. Analysts had expected a dip of 2.5 million barrels.

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OilPrice

MAY 26, 2025

Iraq has filed a lawsuit against the United States over oil contracts between American companies and the Kurdistan Regional Government (KRG) in northern Iraq, escalating a constitutional dispute that has long threatened to destabilize the countrys energy sector, Reuters reported.

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OilPrice

MAY 13, 2025

Namibia expects Frances TotalEnergies and Norways BW Energy to take final investment decisions on oil projects offshore the African country in late 2026, a senior Namibian official says. Both TotalEnergies and BW Energy are set to make

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OilPrice

MAY 22, 2025

Western energy supermajors are faced with an increasingly difficult challenge: either keep their promise of returning ever-higher shareholder returns or risk spurning investors to save their balance sheets.

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OilPrice

APRIL 8, 2025

The American Petroleum Institute (API) estimated that crude oil inventories in the United States fell by 1.057 million barrels for the week ending April 4, after a 6.037 million barrel spike in the prior week. So far this year, crude oil inventories have climbed nearly 22 million barrels, according to Oilprice calculations of API data.

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OilPrice

MAY 5, 2025

crude oil supply will rise more slowly than expected for the rest of 2025 and in 2026 and peak as early as this year, as WTI benchmark prices below $60 per barrel are testing the breakeven point of shale production, energy flows intelligence firm Kpler said on Monday.

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OilPrice

MARCH 19, 2025

Crude oil inventories in the United States saw an increase of 1.7 Energy Information Administration released on Wednesday. Crude oil prices were trading down prior to the crude data release by the U.S. crude oil inventories amid a strong gasoline draw. crude oil inventories amid a strong gasoline draw.

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OilPrice

MARCH 20, 2025

Last November, Nigerias oil production hit the highest in 2024, at 1.7 million barrels daily. The countrys government has a stated ambition to boost that considerably, by some 1 million barrels daily within two years. But there is a problem it needs to solve first: pipeline sabotage.

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OilPrice

MARCH 14, 2025

Russia is increasingly using cryptocurrencies in its oil trade with top clients China and India amid U.S. sanctions, Reuters has reported, citing unnamed sources, who said Russian oil traders were using the cryptocurrencies to facilitate the conversion of yuans and rupees into rubles. Cryptocurrencies

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OilPrice

MAY 21, 2025

billion barrels of shale oil, Turkish Energy and Natural Resources Minister, Alparslan Bayraktar, has said. Turkey's current annual (crude) oil import amounts to 365 million barrels. In March this year, Turkeys national oil company TPAO signed an agreement with Continental r basin in Turkeys southeast has a reserve of 6.1

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OilPrice

MARCH 19, 2025

The chief executives of some of the largest Canadian energy companies called on Canadas main political parties to declare a Canadian energy crisis and key projects in the national interest, which would speed up reforms, planning, and construction of new oil and gas pipelines and LNG terminals.

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OilPrice

MARCH 20, 2025

Europes oil and gas giants are increasingly scaling back their climate goals as they struggle to deliver on their ambitious clean energy pledges. Back in 2022, Norway's state-controlled energy giant Equinor ASA (NYSE:EQNR) laid out its roadmap to achieving net zero emissions.

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