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Iraq’s crude oil exports to the United States surged past 5 million barrels in May, marking Baghdad’s highest monthly volume to U.S. The surge reflects sustained U.S. refiners so far this year, according to Iraqi News. As OPEC+ maintains voluntary output curbs and U.S.
Chevron is approaching a production plateau in the Permian Basin—America’s top oil field—and expects this shift to generate billions in free cash flow, according to Bloomberg. We’re going from growth to cash generation,” said Bruce Niemeyer, president of Chevron’s shale business.
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This latest investment push comes just days before Aramco is set to release its Q2 2025 results, which analysts expect will reflect a double-digit profit decline amid sustainedoil price weakness.
Anadolu | Anadolu | Getty Images Eight oil-producing nations of the OPEC+ alliance agreed on Saturday to increase their collective crude production by 548,000 barrels per day, as they continue to unwind a set of voluntary supply cuts. At the end of the Friday session, oil futures settled at $68.30 One, totaling 1.66
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An oil tanker has suffered an explosion off Libya’s coast, without causing any injuries or pollution, the vessel operator said on Monday, adding that the cause of the explosion is not clear yet. The tanker had left the Libyan port of Zuetina and was en route to Gibraltar when an explosion occurred in the engine room.
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(Investing) – Citi analysts said Wednesday that oil prices may continue to benefit from elevated geopolitical risk premiums in the near term, but they warned that oversupply risks in 2026 could limit further upside.
(World Oil) – Presidio Petroleum announced plans to go public via a definitive business combination agreement with EQV Ventures Acquisition Corp. Presidio has a strong track record of substantial acquisitions and intends to acquire and optimize additional producing oil and gas wells.
(Investing) – Israel’s attack on Iran is unlikely to cause a major disruption to oil supply, analysts at two major banks said, but a worst-case scenario involving blockades in the Strait of Hormuz could push prices above $100 per barrel, Goldman Sachs said. per barrel. [O/R]
(Investing) – Brent crude oil prices could hit $110 a barrel if the Strait of Hormuz is blocked, Goldman Sachs analysts have forecast, while HSBC analysts see prices topping above $80. Their assumptions included oil flows through the critical waterway halving for a month and remaining down by 10% for the following 11 months.
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Oil Price) – Eni has signed a deal to sell 20% in its low-carbon energy business Plenitude to Ares Management Corporation in a deal valuing the unit at an enterprise value of $13.8 Publisher’s Note: Eni will present at EneCom Denver – The Energy Investment Conference at the Westin Downtown , August 17-20, 2025.
Natural gas was once considered a waste byproduct of crude oil production but now has become a common energy source for heating and electricity generation. Principal contributor: Mickey Francis Biofuels Closing Bell Story Coal Crude Oil Featured Nuclear Sustainability coal EIA fossil fuels nuclear U.S. Energy Use
(Oil Price) – PJM Interconnection, the operator of the largest U.S. grids are in urgent need of modernization and upgrade to sustain rising power demand that’s coming mostly from data centers. The alerts are not the first warning of U.S.
(Oil Price) – Investments in fusion technology have jumped by $2.6 Across the board, the responses noted that while fusion’s promise is within reach, sustained progress will require continued technological breakthroughs and financial, regulatory, and policy support, the association said. billion since 2021, with more than $2.6
EIR’s report focuses on the outlook for oil and gas prices driven by supply and demand fundamentals, as well as the impact from OPEC actions, global oil demand, U.S. We think oil markets are balanced,” said Al Salazar, report author and director at EIR. “We natural gas price outlook and the Iran-Israel conflict.
These approaches typically dig deeper and through harder rock than where most oil and gas drilling occurs, so drilling for next-generation geothermal is currently more expensive than for traditional oil and gas. Applying best practices from the oil and gas sector will be instrumental to achieving these improvements.
JP Morgan believes that a Strait of Hormuz closure would likely trigger a sustainedoil price shock that will reverberate through global macro developments, the bank said in a note.
It aims to enhance safety levels and improve the efficiency, security, and sustainability of the petroleum pipeline network for crude oil and petroleum product transportation and storage. The post EGPC Signs MoU for Digital Transformation of National Pipeline Infrastructure first appeared on Egypt Oil & Gas.
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.
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million net acres and more than 2 billion barrels of oil equivalent (Boe) in undeveloped resources. Condensate, Contiguity, and Competitive Returns The volatile oil window of eastern Ohio — covering counties like Carroll, Guernsey, Harrison, and Noble — has seen a sharp rise in condensate production. Why the Utica?
(World Oil) – ADNOC Drilling has secured a contract valued at up to $800 million by ADNOC Onshore for the provision of integrated hydraulic fracturing services for conventional and tight reservoirs, the UAE-based company announced Monday.
We are proud of our partnership with Mitsubishi Power on this project, which is a true example of how international partnerships and advanced technology can bring about fundamental change toward a sustainable energy future,” said Sayed El-Rawi, Chairman and Managing Director of ANRPC.
Below we summarize recent (2024–2025) drilling activity, budget allocations, and production volumes in Oklahoma (primarily the Anadarko Basin and related plays) for six companies: Ovintiv , Mach Natural Resources , Devon Energy , Coterra Energy , Continental Resources , and Mewbourne Oil Company. Liquids” includes crude oil and NGLs.
Global gas flaring at upstream oil and gas facilities has risen for a second year in a row, according to the World Bank’s annual Global Gas Flaring Tracker Flaring rose by 2% to 151 billion cubic meters (bcm) in 2024, the highest level in almost two decades. Consequently, the flaring intensity was more than three times the global average.
KBR has announced the renewal of its engineering, procurement, and construction management (EPCM) contract with Basra Oil Company (BOC) for the Majnoon oil field in Iraq, extending the agreement for another two years.
This trend reflects a cautious industry response to sustained price volatility, investor pressure, and a strategic pivot toward natural gas. Lower breakeven and emissions compared to oil. Here’s a structured summary and analysis of the latest U.S. rig activity based on the Baker Hughes data and broader market context: U.S.
wells), and applying AI to extract common themes, here are the top five trends transforming oil & gas strategy for the remainder of 2025. Today’s leading companies are: Reducing capital spend while sustaining production Maximizing rig and frac crew efficiency Avoiding knee-jerk cost cuts during downturns Take Chevron as an example.
Register to attend. (World Oil) – Diversified Energy Company PLC, a leading publicly traded natural gas and liquids production company, and global investment firm Carlyle have today announced a strategic partnership to invest in up to $2 billion in existing proved developed producing (PDP) natural gas and oil assets across the U.S.
Image by chaiyapruek2520 via iStock The path of least resistance for oil prices from here is higher. “Our crude oil money-manager positioning index for the main WTI contract indicates a high degree of bearishness at -75.7, the confusion seems to be more about oil market fundamentals, the analysts said in the report.
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, (..)
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, (..)
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, (..)
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.
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