OilPrice

MARCH 26, 2025

British Oil & Gas giant BP Plc (NYSE:BP) has received final approval by the Iraqi government for the redevelopment of the giant Kirkuk oil fields, with an initial plan to produce 3B boe. BP will develop Iraq's Kirkuk oil and gas fields based on a profit-sharing model, Iraqi oil ministry officials have revealed.

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OilPrice

MAY 22, 2025

Iraqs government has signed a deal with Chinese Geo-Jade Petroleum to expand production at the Tuba oil field, build a refinery and two power plants. Per an AFP report, the deal will also involve the construction of a petrochemicals facility and a fertilizer plant.

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OilPrice

APRIL 7, 2025

India is raising the excise duty on gasoline and diesel effective April 8, the government said on Monday, but noted that the increase in the excise duty would not be felt at the pump. India has regularly raised the excise duty on fuels when international oil prices drop significantly. Since the middle of last week,

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OilPrice

JUNE 10, 2025

Crude oil prices moved lower earlier today even after the latest round of talks between the United States and China on trade yielded positive results, as traders adopted a wary stance on the news. At the time of writing, Brent crude was trading at $66.82 per barrel and West Texas Intermediate was changing hands for $65 per barrel, after U.S.

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OilPrice

MAY 19, 2025

Oil prices fell on Monday after the last of the big three credit rating agencies, Moodys, downgraded its rating on the United States from AAA to Aa1, reigniting concerns about Americas economy and bond markets. Moodys Ratings on Friday downgraded the long-term issuer and senior unsecured ratings of the U.S.

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OilPrice

APRIL 15, 2025

Environmental, social and governance (ESG) investing spiked in 2020 and 2021 amid the COVID-19 pandemic with low oil prices driving more investments beyond fossil fuels, while fund managers tried to appear more climate-conscious. Previously, we reported that the ESG investing boom of yesteryears has gone bust.

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OilPrice

APRIL 21, 2025

The most notable superficial manifestation of this in recent times has centred on the continued embargo of independent oil sales from the semi-autonomous Kurdistan Region of Iraq (KRI) in the north by the Federal Government of Iraq (FGI) in the south. However, this dispute has never fundamentally been about oil. It is instead

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OilPrice

MARCH 6, 2025

Mexicos state oil firm Pemex is holding discussions with crude buyers in Asia and Europe to potentially sell there its oil, which is now being taxed with a 25% tariff by its single biggest customer, the United States, a senior government official in Mexico told Reuters. Mexico has seen its total oil exports drop off

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OilPrice

MAY 23, 2025

While the federal government of Iraq welcomes cooperation with U.S. Earlier this week, the Kurdistan Regional Government (KRG) in northern Iraq formalized two major energy agreements with U.S. firms HKN Energy and WesternZagros in Washington, D.C.

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OilPrice

JUNE 4, 2025

It has been over two years since the Baghdad-based Federal Government of Iraq (FGI) placed an embargo on independent oil exports from the Erbil-based Kurdistan Region of Iraq (KRI). billion in damages for these allegedly unauthorised oil exports over many previous years. That said, the real reason why the

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OilPrice

MARCH 12, 2025

Albertas Premier Danielle Smith has discussed potential overseas sales of Alberta-owned heavy oil with a global oil and petrochemical firm, the Canadian oil-producing province said this week.

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OilPrice

MAY 22, 2025

Nigerias government is urging the oil companies operating in the country to collaborate to increase oil output in the producer that hasnt been able to pump to its OPEC quota for years. Nigerias crude oil production averaged 1.4 million barrels per day (bpd) in the first quarter of the year, well below the 1.8

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OilPrice

MAY 12, 2025

Asias economies are more vulnerable to external trade shocks than other regions, but they would find low oil prices a boon to their government finances at times of heightened global economic uncertainty. The crude import bills are dropping, and they are already pushing oil import levels in major Asian

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OilPrice

MARCH 18, 2025

Oil markets are refocusing on geopolitical risk after the Israel-Hamas ceasefire broke down and the United States engaged the Houthis in Yemen.- Chinese refiners managed to keep run rates high despite a 26-month import low in January, with seaborne flows poised to rebound strongly in March after Beijing adapted to US sanctions on

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OilPrice

MARCH 20, 2025

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

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OilPrice

MAY 8, 2025

Nigerias government has set a new, significantly higher, production target for the national oil company, aiming for 2.5 When the new NNPC management visited me, I increased their oil production target to 2.5 When the new NNPC management visited me, I increased their oil production target to 2.5

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OilPrice

MARCH 10, 2025

Russia is to restart its key oil and gas operations in the semi-autonomous Kurdistan Region of Iraq (KRI) according to recent comments from its Energy Minister Sergei Tsivilev. This encompassed the KRI, much of the rest of Iraq under the control of its Federal Government

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OilPrice

APRIL 26, 2025

Neighbouring Guyana has attracted attention from numerous international oil majors eyeing Caribbean oil and gas, which has, in turn, garnered greater attention in Trinidad and Tobagos energy sector.

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OilPrice

MARCH 18, 2025

The Trans-Niger Pipeline, one of Nigerias biggest pipelines carrying crude from the Niger Delta to the Bonny terminal, was rocked by a powerful explosion on Monday night, just as OPECs top African producer had started to raise oil production and exports.

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OilPrice

JUNE 5, 2025

Iraqs federal government holds the Kurdistan Regional Government (KRG) legally responsible for continued oil smuggling operations from Kurdistan outside Iraq, the Iraqi Oil Ministry said on Thursday. All these laws

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OilPrice

MARCH 25, 2025

Offshore Energies UK said that local energy production was estimated at some 2 billion to 3 billion barrels of oil equivalent until 2050, under the governments net-zero plans, which estimate total energy demand of 13 to 15 billion barrels of oil equivalent in that period.

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OilPrice

MARCH 27, 2025

After three years of attention-seeking behavior hurling tomato bisque at masterpieces and glue-sticking themselves to random surfaces, the UKs most orange-vested climate troupe, Just Stop Oil, has decided to. The UK government has (sort of) agreed to their original demand: no new well, stop. Their logic?

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OilPrice

MAY 9, 2025

Mexicos Pemex plans to reopen mature oil wells in a bid to increase production, which has been in a steady decline for years. Securities and Exchange Commission saying it expected this years average daily oil output to 1.58 This compares to a government production target of 1.8 million barrels daily. million barrels daily.

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BOE Report

JUNE 11, 2025

Smith told reporters at an energy conference in Calgary that her government is in talks [Read more]

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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

MAY 30, 2025

Libyan authorities have arrested three suspects accused of breaking into the headquarters of the National Oil Corporation (NOC), the Attorney General's Office said shortly after the eastern government warned it could declare force majeure on oilfields and oil export terminals.

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OilPrice

MARCH 10, 2025

Kazakhstan will reduce the flow oil crude via the Caspian Pipeline Consortium by as much as 70% this month, a senior government official told local media. To date, there have been no reductions in oil transportation through the CPC infrastructure from Kazakhstan.

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Pipeline Oil Transportation Government 230

BOE Report

MARCH 11, 2025

CALGARY – The Alberta government says Premier Danielle Smith has been in talks with a multinational oil and petrochemical player about selling two million barrels per month of province-owned heavy oil.

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OilPrice

MARCH 24, 2025

Last year, British multinational oil & gas giant, Shell Plc (NYSE:SHEL) threatened to delist from the London Stock Exchange (LSE) and list on the New York Stock Exchange (NYSE). Shell CEO Wael Sawan told Bloomberg that the company is grossly undervalued in London due to shareholder apathy to the oil and gas sector.

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Malcolm Graham Wood

MAY 28, 2025

Oil has rallied on sanction talk on Russia and Venezuela. And today in 2024 results, Jersey Oil & Gas are upbeat about prospects, subject to the Government of course. The post Oil price, Jersey Oil & Gas. appeared first on Malcy's Blog.

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OilPrice

MARCH 9, 2025

When the Labour Party of Keir Starmer won the latest UK elections, it vowed to stop new oil and gas exploration. In early February, a Scottish court ruled the previous governments approval of two new oil and gas projects in the North Sea unlawful.

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OilPrice

JUNE 3, 2025

Brazils government is looking to extract some $6.2 billion from the countrys oil industry in a bid to shore up state finances, Bloomberg has reported, saying one way to get more money out of oil producers was by reviewing the reference prices used to set oil taxes.

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Energy Outlook Advisors

MAY 18, 2025

Subscribe now Oil market data has deteriorated since 2017 due to the US EIA's inability to define "crude" and distinguish actual crude production in shale plays. Sanctions on Iran and Venezuela in 2018 worsened the situation, with both countries using dark fleets to export oil, and Iran ceasing to publish OPEC production data.

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Marcellus Drilling News

MAY 20, 2025

In March 2024, we reported that two Democrats and one anti-drilling RINO who run Bucks County, PA government (a Philadelphia suburb) fell for the bait by Big Green and filed a lawsuit against Big Oil companies for supposedly, knowingly, causing the Earth to toast to a cinder (see Bucks County, PA, Sues Big Oil for.

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Oil & Gas 360º

MARCH 6, 2025

(World Oil) –Ecuadors President Daniel Noboa has ordered a consortium seeking to take over the nations top oil asset to pay an entry fee of $1.5 Previously, the consortium of local subsidiaries of Chinese oil company Sinopec and New Stratus Energy Inc. billion by March 11, moving up the deadline by more than three weeks.

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OilPrice

JUNE 2, 2025

In a market increasingly governed by geopolitical tremors and macroeconomic mismatches, crude oil dipping below $65 per barrel seems like a gift to global consumers. But behind that price tag lies a slow-moving crisis for U.S.

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OilPrice

MARCH 7, 2025

billion social fund, which collects revenues from oil and gas exploration and production, as approval ratings of President Luiz Inacio Lula da Silva have slumped to a record low. Brazil looks to boost its economy with money from its $3.5-billion

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