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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.
Iran is making “good progress” on its first concerted oil drilling operation in the Caspian Sea in 30 years, a senior energy source who works closely with the Islamic Republic’s Petroleum Ministry exclusively told OilPrice.com over the weekend. Official estimates are that this…
Nigerias Dangote Petroleum Refinery has suspended sales of petroleum in the country after it stopped receiving naira-denominated crude cargoes from the state-owned Nigerian National Petroleum Company (NNPC). To date, our sales of petroleum products in naira have
Saudi Arabias oil revenues have been suffering from the oil price slump during the second quarter. While Saudi Arabia has been restricting crude oil production and exports as part of the OPEC+ deal, it has been running refineries at near-record levels this year and exporting record-high volumes of refined petroleum products.
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.
crude oil production surged to an all-time high in March, reaching 13.488 million barrels per day, according to newly released monthly EIA data. Total petroleum product supplieda broad proxy That edges out the previous monthly record of 13.450 million bpd set in October 2024, and an increase over the 13.153 million bpd in February.
Iran is targeting a dramatic increase in oil production from the fields it shares with neighbouring Iraq, according to the chief executive officer of its Petroleum Engineering and Development Company (PEDEC), Nasrollah Zarei. Other notable major shared fields among many others -- are Azar (on the
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
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. Given the significant volume of conventional
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
million net acres and more than two billion barrels of oil equivalent in undeveloped net resource. This move marks EOG’s first major acquisition since its 2016 purchase of Yates Petroleum. This move marks EOG’s first major acquisition since its 2016 purchase of Yates Petroleum. Key takeaways: EOG re-enters M&A with a $5.6B
The Organization of Petroleum Exporting Countries (OPEC) reduced its crude oil production in March, ahead of its planned production increase for May, a new Bloomberg survey showed on Tuesday. OPEC reduced its crude oil production for March to an average of 27.43
(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.
Crude oil prices reversed their trajectory from earlier this week, trending lower today after the American Petroleum Institute reported an estimated inventory rise in both gasoline and middle distillates, and Saudi Arabia cut its oil prices for Asian buyers to an almost four-year low. Brent crude was trading at $64.76
Kuwait, one of the top OPEC producers in the Middle East, plans to invest as much as $50 billion to raise its oil production capacity to above 3 million barrels per day (bpd) over the next five years, Kuwait Petroleum Corporations deputy chairman and CEO, Shaikh Nawaf Al-Sabah, has said. Kuwaits crude oil production averaged 2.415
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. Take fracking, which made Americas petroleum industry great again.
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.
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. – […].
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.
The major oil producers in the Middle East are exporting record volumes of refined petroleum products, reducing the overall impact of their crude production cuts on the market, Reuters reports, citing flow-tracking data and analysts. This has likely negated part of the potential bullish
(World Oil) – Namibia will offer financial incentives to help kick-start the development of oil fields managed by a group led by TotalEnergies, according to a special adviser in the presidency. TotalEnergies and Shell Plc in 2022 made the first in a series of finds off the coast of the southwest African nation.
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.
(World Oil) – Kazakhstan, which has created tensions within OPEC+ by consistently breaching its production limit, has no plans to cut oil output in May, the countrys Energy Ministry said. Kazakhstan typically pumps about 260,000 barrels a day of condensate, which is a type of a light oil. Last week, Chevron Corp.
(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.
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.
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
Chevron plans to begin drilling an exploration well offshore Namibia, where several international majors have found huge oil and gas resources in recent years. With this programme, Chevron continues to activate its strong and growing exploration portfolio, according to a company statement.
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.
Chinas Geo-Jade Petroleum has signed a swathe of major contracts that give Beijing control over Iraqs first fully integrated energy project. It also includes the construction of a 520,000-tonne annual capacity fertilizer plant, developing a
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.
(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. mmb less than 458.8
The last meeting, between Iraq's Federal Ministry of Oil (MoO) and the International Oil Companies (IOCs) operating in the Kurdistan Region of Iraq (KRI), eight of which are represented by the Association of the Petroleum Industry of Kurdistan (APIKUR), ended with no resolution, much as all prior meetings did.
with ConocoPhillips, Diamondback Energy and Occidental Petroleum cumulatively spending more than $85 billion on assets since 2020 and more than $140 billion including Occidentals 2019 acquisition of Anadarko Petroleum. In addition to finally adding oil-focused inventory, EOG will have add significant gas exposure.
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. Benefitting IN!
crude oil output rose to a monthly record high in March, while demand for oil products declined to the lowest in a year, the U.S. Energy Information Administration said in its Petroleum Supply Monthly report on Friday. crude oil output rose to 13.49 million barrels per day in March, up from 13.16 million [Read more]
Since April, the Organization of the Petroleum Exporting Countries and its allies, a group known as OPEC+, has either made or announced output upticks totalling some 1.37 Since April, the Organization of the Petroleum Exporting Countries and its allies, a group known as OPEC+, has either made or announced output upticks totalling some 1.37
(Investing) –The Organization of Petroleum Exporting Countries and allies (OPEC+) has rescheduled its video conference to discuss oil production levels for June. The upcoming meeting has the potential to influence oil prices in the forthcoming weeks.
(World Oil) – In a bid to bolster investment and competitiveness within Africa’s oil and gas sector, national oil companies (NOCs) in Nigeria and Angola are progressing with long-anticipated initial public offerings (IPOs).
Rebalancing IOCs Positioning in the Upstream Petroleum Sector in Iraq The Ministry of Oil (MoO) recently concluded an agreement with BP covering four main oilfields in Kirkuk , following an earlier contract with an unidentified Ukrainian company to resume development of the Akkas gas field. Read more of Mr Jiyad's biography here.
Bakersfield, CA, May 21, 2025 (GLOBE NEWSWIRE) — Trio Petroleum Corp (NYSE American: TPET) (Trio or the Company), a California-based oil and gas company, today is pleased to announce that it has closed on the balance of certain petroleum and natural gas properties held by Novacor Exploration Ltd.
Khalda Petroleum Company (Apache) has successfully made three new oil and natural gas discoveries in its concession areas in the Western Desert. These discoveries are set to add approximately 12 million barrels of oil equivalent (mboe) in reserves, with 4 mboe deemed recoverable.
” The global oil market has been rocked in recent months by the move from eight core OPEC+ nations to relax supply restraints at a faster-than-expected pace, potentially adding supplies just as trade frictions menace demand. “Notably, it does not appear that production in Saudi Arabia has ramped up significantly.”
Trio Petroleum Corp. has closed its acquisition of certain petroleum and natural gas properties held by Novacor Exploration Ltd. in the prolific heavy oil region of Lloydminster, Saskatchewan.
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