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While analysts and investors largely expect to see lower earnings at the world’s top oil and gas majors for the second quarter, due to weaker oil prices, they have fewer clues about the trading divisions of Big Oil. The average oil price in Q2 was 10% below the average for the first quarter. trade policies.
Despite expectations, the recent geopolitical turbulence in the Middle East—especially the events of October 7, 2023, and the escalation between Israel and Iran—did not deliver a severe blow to global energy markets. Compared to past regional crises or major global shocks like the Russia–Ukraine war, the impact was surprisingly muted.
Reliance Industries, the top private refiner in India, has warned in its annual report that tariff uncertainties and geopolitical events could affect global crude oil flows and oil market balances. Global crude oil prices continue to remain volatile on the back of dynamic interplay of…
It remains important for energy traders to closely monitor the Strait of Hormuz and other key critical maritime chokepoints in the region (recall Red Sea events last week, given persistent geopolitical tensions involving Iran and Israel.
India is looking to strengthen its domestic oil and gas exploration and supply with the biggest-ever acreage up for grabs under the Open Acreage Licensing Programme (OALP) Round X.
(Oil Price) – The discovery of the massive Vaca Muerta shale play was a game changer for the economically troubled South American nation of Argentina. The latest data from Argentina’s Ministry of Economy shows shale oil production hit an all-time high for June 2025, although overall petroleum output dipped lower. Source: U.S.
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The oil futures slide began even before Iran's muted response to the US bombing of its nuclear sites had ended on Monday. That's because oil market fundamentals took hold the moment de-risking started, evaporating the so-called risk premium double quick. Prior to this week's declines, oil futures had risen 20% month-over-month.
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.
Skip to content Oil & Gas Exploration & Production (E&P) Crude Oil Natural Gas LNG Coal Refined Products Offshore Midstream Regulatory Transportation Commodities Oilfield Services Hydraulic Fracturing Drilling Water Regions Canada Mexico United States Asia & Australia Europe Africa South America Middle East Russia Finance Mergers, (..)
Brent Crude $68.75 -0.77% Natural Gas $3.32 -6.98% Latest Oil Prices SUBSCRIBE SEARCH ARTICLES NEWS USA EIA Reveals Latest USA Crude Oil Production Forecast by Andreas Exarheas | Rigzone Staff | Monday, July 21, 2025 | 8:27 AM EST The U.S. crude oil production forecast in its July short term energy outlook.
In May—the latest month with full basin-level data—production in Neuqu é n reached 538,000 b/d of oil and 107 million cu m/day of natural gas. On a national scale, shale oil accounts for 60% of total output, while tight and shale gas combined make up 65% of Argentina ’ s gas production.
by Andreas Exarheas | Rigzone Staff | Thursday, July 31, 2025 | 7:28 AM EST What should the long-run price of oil be? Image by jabkitticha via iStock What should the long-run price of oil be? In the report, the Standard Chartered Bank analysts said they think the long-run oil price will adjust higher over the next few years.
million barrels of oil equivalent. million barrels of oil equivalent. Image by Ole Arnesen via iStock The Norwegian Offshore Directorate said ConocoPhillips Skandinavia AS, operator of production license 891, had confirmed the Slagugle oil discovery. million standard cubic meters of oil equivalent (approximately 30.8
Natural Gas $3.56 +0.42% Latest Oil Prices SUBSCRIBE SEARCH ARTICLES NEWS What Is The Biggest Oil Discovery of All Time? Natural Gas $3.56 +0.42% Latest Oil Prices SUBSCRIBE SEARCH ARTICLES NEWS What Is The Biggest Oil Discovery of All Time? Image by Luca Binelli via iStock What is the biggest oil discovery of all time?
Image by Professor25 via iStock The world’s top oil consumer in 2024 was the U.S., percent of total oil demand in 2024. oil consumption has grown by an average of 0.5 China was shown in the report to be the second biggest oil consumer last year, with 16.373 million barrels per day. From 2014 to 2024, U.S.
The initiative aligns with both companies’ commitment to technological innovation and the transition to more sustainable operations in the oil and gas industry. In addition to enhanced safety, the solution also reduces the costs and timeframes involved in the cleaning process, and could become a new standard for the sector.
Image by Artem_Egorov via iStock Oil declined after Axios reported the US plans to restart nuclear talks with Iran, reducing the risk of another flare-up in the Middle East conflict. Renewed negotiations over Iran’s nuclear program would further reduce oil’s already-diminished risk premium. to settle at $67.00
Brent Crude $69.46 -0.09% Natural Gas $3.52 -0.56% Latest Oil Prices SUBSCRIBE SEARCH ARTICLES NEWS Iraq Agrees on Oil Plan With Kurds by Bloomberg | Khalid Al-Ansary | Thursday, July 17, 2025 | 4:00 PM EST Iraq approved a plan for its semi-autonomous Kurdish region to transfer oil to Baghdad.
Image by Anatolii Yakovets via iStock According to the Energy Institute’s (EI) latest statistical review of world energy report, which was published recently, the world’s top oil producer is the United States. produced 20.135 million barrels of oil per day in 2024. oil production has seen an average yearly growth rate of 5.5
Embed Tags Embed article link: (copy the HTML code below): Harbour Energy plc announce first oil achieved at Maria Phase 2, Norway This article has been tagged under the following: Subsea news Oil & gas news Advertisement Advertisement Advertisement Advertisement × Close This content is available to registered readers of our magazine only.
(Oil & Gas 360) – Publisher’s Note: Mach Natural Resources will present at EneCom Denver – The Energy Investment Conference at the Westin Downtown , August 17-20, 2025. Register to attend. The combined consideration for both transactions is approximately $1.3 For more information, please visit www.machnr.com.
With offices in Dallas and Houston, NSAI provides a complete range of geological, geophysical, petrophysical, and engineering services and has the technical experience and ability to perform these services in any of the onshore and offshore oil and gas producing areas of the world.
0% Latest Oil Prices SUBSCRIBE SEARCH ARTICLES NEWS Weatherford Awarded Drilling Contract for Mexico Deepwater Oil Project by Rocky Teodoro | Rigzone Staff | Monday, August 04, 2025 | 8:00 AM EST The multi-year contract includes managed pressure drilling services for an initial eight wells with the potential to expand to 24 wells.
As geopolitical tensions escalate, energy professionals are closely monitoring the situation’s impact on oil prices, market dynamics and long-term industry outlook. Targeted Strikes Rattle Oil Markets Recent attacks on Iranian energy facilities caused a spike in oil prices, with Brent crude rising about $10 per barrel in the past month.
Image by Cylonphoto via iStock The European Commission has proposed legislation to stop the importation of natural gas, oil and oil products from Russia into the European Union by 2027, betting on global liquefied natural gas (LNG) and increased regional infrastructure interconnectivity. billion cubic meters (473.22
(Oil & Gas 360) – HOUSTON , June 17, 2025 /PRNewswire/ — Talos Energy Inc. (“Talos” or the “Company”) (NYSE: TALO) today announced its enhanced corporate strategy designed to position the Company as a leading pure-play offshore exploration and production company.
Image by MarianVejcik via iStock While we should always be prepared for surprises in any market, especially oil, $100 crude appears increasingly unlikely this year. In that report, Standard Chartered projected that the ICE Brent nearby future crude oil price will average $65 per barrel in the fourth quarter of this year.
It also supports drill pipe rotation and mud circulation during logging, improving well safety and reducing the risk of stuck pipe events, SLB said. MORE FROM THIS AUTHOR Paul Anderson Writer OIL, GAS & ENERGY NEWS STRAIGHT TO YOUR INBOX! All comments are subject to editorial review. 700K Industry Pros can’t be wrong.
(Oil & Gas 360) – Publisher’s Note: Advantage Energy will present at EneCom Denver – The Energy Investment Conference at the Westin Downtown , August 17-20, 2025. Amplify intends to become more oil-weighted, reduce debt, lower operating costs, and streamline the organization. Register to attend.
The Polish energy company said all of its refineries have been supplied with non-Russian oil since March, with the final contract for Russian oil delivery from Rosneft ending June 30. Today, we purchase crude oil from across the globe. Their cooperation has enabled us to bring in oil and gas from alternative sources.
The project, a subsea tieback to the existing Troll C platform, holds estimated recoverable volumes of 116 million barrels of oil equivalent. Oil comprises 75 percent and gas 25 percent, according to Equinor. kilograms of carbon dioxide per barrel of oil equivalent. It expects the project to start production 2029.
(Oil & Gas 360) – Get ready for a powerhouse lineup of networking and entertainment at EnerCom Denver – The Energy Investment Conference , celebrating its 30th anniversary this August! These events are open to all registered conference attendees in the vibrant setting of the Westin Denver Downtown. , and EnerCom.
The Slagugle oil discovery was initially proven in 2020, with preliminary estimates suggesting resources in the range of 30.8 - 61.6 million bbl of oil equivalent in Triassic reservoir rocks. The Slagugle oil discovery was initially proven in 2020, with preliminary estimates suggesting resources in the range of 30.8 - 61.6
(Oil & Gas 360) – Publisher’s Note: CanCambria Energy will present at EneCom Denver – The Energy Investment Conference at the Westin Downtown , August 17-20, 2025. Register to attend. CanCambria Energy Corp. The CanCambria model of applying new technology is key to unlocking this area.
“Amid supply disruption concerns, Middle Eastern oil producers might have looked at additional storage locations around the world,” said Giovanni Staunovo, a commodity analyst UBS Group AG. The three nations loaded 11.9 million barrels a day onto tankers in June, ship-tracking compiled by Bloomberg shows.
Petronas said in a media release the event marked a significant milestone in Sabah’s energy growth with the official handover of the Sabah Gas Strategy, a project led jointly by Petronas and the state government. MORE FROM THIS AUTHOR Paul Anderson Writer OIL, GAS & ENERGY NEWS STRAIGHT TO YOUR INBOX!
MORE FROM THIS AUTHOR Paul Anderson Writer OIL, GAS & ENERGY NEWS STRAIGHT TO YOUR INBOX! POST A COMMENT Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.
3D supported Sark well will drill a dip and fault closed large structure of 156 acres area and 40 ft relief Estimated recoverable resources of 1 440 000 bbls of oil gross. 3D supported Sark well will drill a dip and fault closed large structure of 156 acres area and 40 ft relief Estimated recoverable resources of 1 440 000 bbls of oil gross.
Image by francescoch via iStock BP Plc said it made its biggest discovery in 25 years in deep waters off Brazil, a boon for the UK oil major as it seeks to turn around years of underperformance. million barrels of oil equivalent a day - remains unchanged. OIL, GAS & ENERGY NEWS STRAIGHT TO YOUR INBOX! million to 2.5
(Oil & Gas 360) – CALGARY, Alberta, Aug. Plant maintenance improved infrastructure integrity, enhanced production reliability, and supported higher oil recovery. is a publicly traded Canadian energy company specializing in the exploration, development, and production of crude oil and natural gas. 9,317/boe in Q1).
As the Oilholic heads out there for a business trip, while sitting and musing at London's Heathrow airport before the flight, one cannot but help notice that oil benchmarks are on the up. Conventional market wisdom would suggest that oil futures would head lower on the development but they haven't. Well that's all for now folks.
Image by happyphoton via iStock Guyana’s oil production capacity has grown to over 900,000 barrels per day (bpd) as Exxon Mobil Corp. million oil equivalent barrels per day from eight developments” Spring, Texas-based ExxonMobil operates Stabroek with a 45 percent stake through ExxonMobil Guyana Ltd. Chevron Corp.
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