Industry & Analysis
News
February 24, 2025
Chevron's presence in Venezuela has helped lift the nation’s crude production back above 1 million bpd, in turn boosting the local economy. Now U.S. President Trump is poised to leverage this to get what he wants from Venezuelan President Nicolás Maduro.
News
February 21, 2025
The African Export-Import Bank (Afreximbank) has announced plans to establish a $1 billion oil service financing facility in Guyana. This initiative aims to enhance local participation in the country’s fast growing oil industry, in alignment with the government's local content policies.
News
February 21, 2025
National Ocean Industries Association President Erik Milito has issued a statement after the Bureau of Ocean Energy Management (BOEM) rescinded NTL No. 2023-G01, Expanded Rice’s Whale Protection Efforts During Reinitiated Consultation with NMFS.
News
February 20, 2025
The Railroad Commission of Texas assessed $1,346,019 in enforcement docket fines against operators and businesses at the Commissioners’ open meeting on Wednesday. The Commission has primary oversight and enforcement of the state’s oil and gas industry and intrastate pipeline safety.
News
February 19, 2025
Sentinel's Texas GulfLink deepwater port has received approval from the U.S. DOT's Maritime Administration, marking a critical step forward for crude oil exports after a multi-year review process.
News
February 17, 2025
OPEC+ is considering pushing back a series of monthly supply increases due to begin in April despite calls from U.S. President Trump to lower prices, delegates said. Postponing the increase of 120,000 bpd would mark the fourth such delay by the alliance since 2022.
News
February 14, 2025
Expanding opportunities within Mozambique’s oil and gas sector are strengthening ExxonMobil’s commitment to local content investments, said Armando Afonso, Public & Government Affairs Manager, ExxonMobil Mozambique at a recent roundtable.
News
February 14, 2025
U.S. President Trump ordered the creation of a White House council focused on steering the U.S. toward “energy dominance,” with the promise of action as soon as next week. The council will be led by Interior Secretary Doug Burgum, with Energy Secretary Chris Wright as its vice-chair.
News
February 13, 2025
The International Energy Agency has lowered expectations for a global oil surplus this year amid stronger demand growth in Asia and sanctions on OPEC+ nations. "Time and again, oil markets show adaptability in the face of major challenges," the agency said.
News
February 13, 2025
The upcoming launch of the South African National Petroleum Company reflects a broader trend across Africa, where nations are restructuring their state-owned energy enterprises to attract investment, improve efficiency and enhance energy security.
News
February 12, 2025
(Bloomberg) – Pemex (Petroleos Mexicanos) will split profits with private-sector partners in joint ventures that may account for as much as 10% of the state oil company’s output, said Mexico President Claudia Sheinbaum.
News
February 12, 2025
(Bloomberg) – Chevron Corp. plans to cut its global workforce by 15% to 20% by next year, as part of a broader cost reduction strategy. Chevron recently relocated its headquarters from Calif. to Houston, Texas, and is targeting between $2–3 billion in cost reductions by 2026.
News
February 11, 2025
(Bloomberg) – BP Plc CEO Murray Auchincloss insisted that the company’s “fundamental reset” has been in the works for a year, while refusing to comment on an analyst’s question about whether he’s had engagement with activist Elliott Investment Management.
News
February 11, 2025
(Bloomberg) – Dar Petroleum Operating Co. has resumed producing oil from a number of its wells in South Sudan after almost a year, people with knowledge of the matter said.
News
February 10, 2025
The Energy Workforce & Technology Council has released its monthly jobs report, analyzing employment trends within the U.S. energy services sector for January 2025.
News
February 07, 2025
(Bloomberg) – New terminal construction faces uncertainty after 2024 U.S. crude exports expanded at the slowest since the COVID pandemic, and U.S. oil-production growth slows as drillers prioritize returns to investors and capital discipline, Chevron said.
News
February 06, 2025
ADNOC Gas has announced record earnings for the full year (FY) 2024 of $5 billion, and its highest quarterly income of $1.38 billion since its IPO. The robust improvement was driven by several factors including a richer mix of gas, producing more liquids, and improved commercial terms in the domestic market.
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January 2025
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January 2025
News
February 03, 2025
HOUSTON (WO) – On Friday, Jan. 31, 2025, World Oil hosted its 57th annual Forecast Breakfast at the Norris Conference Center in Houston, Texas. Approximately 360 industry professionals gathered to hear timely insights on the upstream industry, and what’s expected for global drilling in 2025.
News
February 05, 2025
The American Petroleum Institute (API) has released its ‘2025 API Standards International Usage Report’, detailing the growing international influence of API standards, and highlighting its paramount role in advancing safety, sustainability, and efficiency across the global oil and gas industry.
