Production
News
July 14, 2022
OPEC producers will need to pump crude at the fastest pace in five years in 2023 if they are to balance oil supply and demand. Capacity constraints suggest they may struggle.
News
July 12, 2022
The White House believes the Organization of Petroleum Exporting Countries has room to raise oil production, should an upcoming visit by President Joe Biden to the Middle East yield any agreements.
News
July 11, 2022
Even if Joe Biden secures a pledge for more oil when he visits Saudi Arabia this week, it may do little to drive down the high fuel prices roiling the global economy.
News
July 11, 2022
Nigeria’s state energy company won a court decision temporarily blocking Exxon Mobil Corp. from selling assets in the country to Seplat Energy Plc.
News
July 11, 2022
Suncor Energy Inc.’s chief executive officer stepped down on Friday after a series of fatalities at the company’s oil sands sites shook confidence in its management.
News
July 06, 2022
Chevron Corp. wants more control over the oil it produces in Venezuela, a move that would help the driller boost output and recover debt if the US eases sanctions amid a global fuel crunch.
News
July 06, 2022
Frac sand, which gets blasted through shale rocks to unlock oil and natural gas, is averaging $55 a ton, up from $22 at the end of 2021. Demand is climbing as oil explorers turn the taps back on after Covid-driven cutbacks.
News
July 05, 2022
U.K. Prime Minister Boris Johnson urged Saudi Arabia to ramp up oil production, seeking to cool record fuel prices in an echo of comments last week from President Joe Biden.
News
July 01, 2022
Venezuela’s economy is forecast to expand at its fastest pace in 15 years, marking a rebound for a country that recently emerged from the deepest recession in Latin America.
News
June 30, 2022
Canada’s economic expansion suffered a minor setback last month after a robust start to the year, driven by a drop in oil production.
News
June 30, 2022
President Joe Biden said he’ll ask U.S. allies in the Persian Gulf region to boost oil production when he meets with them during a trip to Saudi Arabia next month, one of the key avenues he has to address surging inflation costs at home.
News
June 29, 2022
Environmental groups sued the Biden administration to block its revival of plans to allow new oil drilling on public land in western states.
News
June 28, 2022
OPEC+ is more than half a billion barrels behind on its pledge to supply world markets with oil, exacerbating concerns about the group’s ability to balance the global market.
News
June 28, 2022
The OPEC+ alliance is set for an easy meeting this week as it cruises to the conclusion of a two-year pact on oil supplies. The respite won’t last long.
News
June 27, 2022
French President Emmanuel Macron said that the United Arab Emirates’ ruler confided to him that OPEC’s two leading oil exporters are already pumping almost as much oil as they can.
News
June 27, 2022
The Ministry of Petroleum of the Republic of Niger announced the country has reached a new milestone in furthering the regional gas market through the progressing construction of the multi-billion Trans-Saharan Gas Pipeline alongside Algeria and Nigeria.
News
June 27, 2022
The OPEC+ alliance of oil producers is running out of capacity to pump more crude, including its biggest member Saudi Arabia, according to Nigeria’s petroleum minister.
News
June 27, 2022
Ecuador’s oil production is likely to halt completely within 48 hours if road blocks and vandalizing of oil wells continue, the Energy Ministry said in an emailed statement.
News
June 20, 2022
Hydro Drilling Global, Inc. (HD), an affiliate of Hydro Drilling S.r.l., announced the signing of a distribution agreement with Nabors Drilling International Limited (NDIL), an affiliate of Nabors Industries Ltd. to market and deploy Nabors’ technologies and services in Europe and Africa.
News
June 21, 2022
Libya’s oil production has risen in the past week to around 700,000 to 800,000 barrels a day, according to Energy Minister Mohamed Oun.
News
June 21, 2022
Exxon Mobil Corp. is investing in a $29 billion project to boost Qatar’s gas exports, joining others including ConocoPhillips, TotalEnergies and Eni SpA.
