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Kenya hopes it will begin commercial crude oil production and exports next year, Opiyo Wandayi, Cabinet Secretary for Energy and Petroleum, said on Monday, as companies are finalizing an asset sale and development project plans for an onshore resource basin.
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.
The combined net profits of Russia’s oil and gas companies nearly halved in the first quarter from a year earlier, while petroleum revenues for the budget have been falling with the decline in oil prices in recent months. The net profits of the Russian oil and gas firms slumped to $9.9 billion (789.5
Geological Survey (USGS) has discovered large oil and gas deposits in the Mowry Composite Total Petroleum System that spans parts of Wyoming, Colorado and Utah. The report estimates large hydrocarbon resources, including 473 million barrels of oil and 27 trillion cubic feet (tcf) of natural gas.
(World Oil) – Citing the latest Current Employment Statistics (CES) report from the U.S. This represented an increase of 600 jobs in the services sector and 1,600 jobs in oil and gas extraction. In May, Texas energy producers paid $411 million in oil production taxes, according to the Texas comptroller’s office.
Zhongman Petroleum and Natural Gas Group (ZPEC), an independent Shanghai-listed Chinese oil and gas company, has won a licensing contract to explore a natural gas block in central Algeria, the firm has said.
Egypt is seeking to buy more fuel oil on which to run some of its power plants as natural gas supply is more expensive for the cash-strapped North African country. North African and Middle Eastern countries often turn to oil and direct crude burn for power generation, especially with spiking demand for
Weekly Crude Oil Storage as of June 20, 2025 U.S. commercial crude oil inventories ( excluding those in the Strategic Petroleum Reserve ) decreased by 5.8 Summary of weekly petroleum data for the week ending June 20, 2025 U.S. crude oil imports averaged 5.9 Total commercial petroleum inventories decreased by 4.2
Weekly Crude Oil Storage as of July 4, 2025 U.S. commercial crude oil inventories ( excluding those in the Strategic Petroleum Reserve ) increased by 7.1 Summary of weekly petroleum data for the week ending July 4, 2025 U.S. Over the past four weeks, crude oil imports averaged about 6.1 At 426 million barrels, U.S.
The idea of peak oil is familiar to most readers. It refers to the point at which global petroleum production reaches its maximum point and begins an irreversible decline. This prediction has been largely accurate, as we have witnessed a steady increase in global oil production followed by signs of plateauing
Iraq's Minister of Oil, Hayan Abdul Ghani, held talks in Baghdad on Wednesday with Russian Ambassador Elbrus Kutrashev and a delegation from Russian energy giant Lukoil. The meeting focused on strengthening cooperation between Iraq and Russia in the oil, gas, and energy sectors. By John Lee.
Weekly Crude Oil Storage as of June 6, 2025 U.S. commercial crude oil inventories ( excluding those in the Strategic Petroleum Reserve ) decreased by 3.6 Summary of weekly petroleum data for the week ending June 6, 2025 U.S. crude oil refinery inputs averaged 17.2 crude oil imports averaged 6.2 Imports U.S.
Shell has started first oil production from the next development phase of a deepwater oil project offshore Malaysia, the UK-based supermajor said on Friday as Europes largest oil and gas companies are pivoting back to strategies to boost output of fossil fuels.
Tanzania plans to launch in May its fifth oil and gas licensing round for 26 exploration blocks in what will be the East African countrys first such bidding round since 2014.
(Oil Price) – As if WTI oil prices in the low $60s per barrel aren’t enough to slow production growth at America’s top producing shale basin, the Permian, new guidelines for permitting saltwater disposal wells could raise the costs for operators, especially smaller producers with limited resources.
million barrels on June 27, the EIA's latest weekly petroleum status report showed. million barrels on June 27, the EIA's latest weekly petroleum status report showed. commercial crude oil inventories, excluding those in the Strategic Petroleum Reserve (SPR), increased by 3.8 Crude oil in the SPR stood at 402.8
Senior executives from Azerbaijans state oil firm SOCAR this week discussed with Egyptian officials and executives the idea to establish a strategic Egyptian-Azeri partnership in the oil and gas sector, Egypts Ministry of Petroleum and Mineral Resources said.
(World Oil) – South Africa has officially established its new state-owned oil corporationSouth African National Petroleum Company (SANPC). The establishment of the SANPC aligns with broader goals by the South African government to create a more competitive and investment-friendly petroleum sector.
(World Oil) – bp Plc and Shell Plc signed agreements with Libya’s National Oil Corp (NOC) to study new opportunities, joining international majors accelerating their return to the oil-rich African nation. We hope to apply bp’s experience from redeveloping and managing giant oil fields around the world.”
Khalda Petroleum, a joint venture (JV) between the Egyptian General Petroleum Corporation (EGPC) and Apache Corporation, is bringing two new wells into production in June 2025, with an initial estimated total of 5,400 barrels of crude oil per day (bbl/d). Khalda completed drilling operations for the Fox Deep-02 appraisal well.
A while ago, in a article about investment opportunities, we concluded that water was the new oil, the commodity that would provide one of the the best returns in the future. Take fracking, which made Americas petroleum industry great again. A bit hyperbolic, maybe?
Patrick De Haan, head of petroleum analysis at GasBuddy, noted, "The national average has seen a modest decline, but with oil prices rising again, we could see the trend reverse in the coming weeks." The national average price of gasoline in the United States has declined by 3.8 cents over the past week, now standing at $3.09
Kenya expects to launch an oil and gas exploration round for 10 blocks in September, Opiyo Wandayi, the Energy and Petroleum Cabinet Secretary of the East African country, has said.
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
(World Oil) – The American Petroleum Institute today joined more than 100 other energy trade groups and organizations in urging the Department of the Interior to develop a new five-year offshore leasing program that fully leverages the U.S. crude oil production, or nearly 2 million bopd. According to the U.S.
million barrels for the week ending June 27, an oil and gas report sent to Rigzone by the Macquarie team late Monday revealed. “Rounding out the picture, we anticipate another small increase in Strategic Petroleum Reserve (SPR) stocks (+0.3 commercial crude oil inventories, excluding those in the SPR, dropped by 5.8
China Petroleum Engineering Corporation (CPEC) has announced that its wholly owned subsidiary, China Petroleum Pipeline Engineering has received a letter of award from France's TotalEnergies for a major gas infrastructure project in Iraq. By John Lee.
Oil and Gas 360 April 28, 2023 For over 25 years, global petroleum consultancy Netherland, Sewell & Associates, Inc. NSAI) has hosted a series of highly regarded oil and gas property evaluation seminars. The firm asks that you pass this information on to colleagues whom you think may benefit from attending.
As part of Iraq's government-backed gas development programme, the Ministry of Oil has reported significant progress in reducing gas flaring and increasing gas utilisation. In liquefied petroleumgas (LPG), production rose from 2 million tonnes in 2024 to 3 million tonnes in 2025. By John Lee.
Minister of Petroleum and Mineral Resources, Karim Badawi, met with Elkhan Polukhov Ambassador of the Republic of Azerbaijan to Cairo, and his accompanying delegation, which included Zaur Hasanov, Director of Business Development at the State Oil Company of the Republic of Azerbaijan (SOCAR).
(Oil & Gas 360) – April 22, 2025 – For over 25 years, global petroleum consultancy Netherland, Sewell & Associates, Inc. NSAI) has hosted its highly regarded Oil & Gas Property Evaluation Seminar. NSAI is pleased to announce it is hosting a two-day session in Dallas on May 5 th and 6 th.
(Oil & Gas 360) – April 22, 2025 – For over 25 years, global petroleum consultancy Netherland, Sewell & Associates, Inc. NSAI) has hosted its highly regarded Oil & Gas Property Evaluation Seminar. NSAI is pleased to announce it is hosting a two-day session in Dallas on May 5 th and 6 th.
For the past 30 years, EnerCom Denver has been the largest independent investor conference for the global oil and gas and broadening energy industry that is open to all energy companies, investors, and professionals to participate. This year’s conference will occur August 17-20, 2025, at T he Westin Denver Downtown.
(Oil& Gas 360) – Headlines Continuing To Paint A Bearish Oil & Natural Gas Picture During The Month Of May Are Keeping Steadily-Tightening, Temporarily Hidden. Wednesdays main oil market headline was that U.S. crude oil inventory increased again. crude oil inventory increased again.
“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. Riyadh bolstered crude exports by 441,000 barrels a day, or about 7 percent, this month to 6.36
says PowerTap Hydrogen Fueling, its investee company, has executed a definitive agreement with Humboldt Petroleum Inc., Peninsula Petroleum LLC and Colvin Oil I LLC (collectively, the Andretti Group) to install PowerTap’s modular hydrogen fueling stations this year. Clean Power Capital Corp. – […].
Image by yamonstro via iStock In an oil and gas report sent to Rigzone by the Macquarie team on Tuesday, Macquarie strategists revealed that they are forecasting that U.S. “Rounding out the picture, we anticipate another small increase in SPR [Strategic Petroleum Reserve] stocks (+0.2 Crude oil in the SPR stood at 402.8
million barrels on June 20, the EIA's latest weekly petroleum status report showed. million barrels on June 20, the EIA's latest weekly petroleum status report showed. commercial crude oil inventories, excluding those in the Strategic Petroleum Reserve (SPR), decreased by 5.8 Crude oil in the SPR stood at 402.5
billion in deepwater oil and gas exploration and development offshore Nigeria, the local regulator, the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), has said. supermajor ExxonMobil plans to invest as much as $1.5
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.
(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. That’s our expectation, that we will get another 0.55
Natural Gas $3.63 -0.14% Latest Oil Prices SUBSCRIBE SEARCH ARTICLES NEWS PTAS Aker Solutions Secures Contract Extension with Brunei Shell Petroleum by Paul Anderson | Rigzone Staff | Tuesday, June 10, 2025 | 2:28 AM EST The contract involves maintenance and upgrades to sustain production levels across offshore assets in the South China Sea.
Prime Minister Mostafa Madbouli held a meeting on Friday afternoon to review the government’s plan to secure the country’s needs of oil and natural gas following the Israeli military operation in Iran. The post Madbouli Heads Meeting to Ensure Adequate Oil and Gas Supply first appeared on Egypt Oil & Gas.
The Ministry of Oil plans to increase the production of liquefied petroleumgas (LPG) at the Basra Gas Company (BGC) to more than 8,000 tonnes per day in the coming years. The Ministry has increased associated gas investment to over 70 percent, up from 53 percent in the first year of the current government.
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