Chevron Corp. plans to lay off nearly 800 employees in the Permian basin, the company announced in a filing with the Texas Workforce Commission. The bulk of the reductions will come from Chevron’s Midcontinent campus on the outskirts of Midland, Texas. SourceContinue Reading

Is the U.S. Oil Industry Nearing a Tipping Point? | OilPrice.com Osama Rizvi Osama Rizvi is an Economic and Energy Analyst with a special focus on commodities, macroeconomy, geopolitics, and climate change. He has written for various print… More Info Premium Content By Osama Rizvi – May 29, 2025, 1:00 PM CDT Global oversupply is...Continue Reading

Chinese Oil Refiners Boost Exports as Domestic Demand Disappoints | OilPrice.com Charles Kennedy Charles is a writer for Oilprice.com More Info Related News By Charles Kennedy – May 29, 2025, 12:30 PM CDT China’s top oil refiners are turning to overseas markets to offset weak domestic demand, pushing ahead with refined product exports despite planned...Continue Reading

First-quarter earnings highlighted the overall trend of producers maintaining spending and production guidance for the year. Based on a peer group of 20 Canadian shale E&Ps, full year spending dropped a mere 0.4%, with output guidance remaining intact. Oil sands operators mirrored a similar story, with the only notable change coming from Canadian Natural Resources...Continue Reading

Kazakhstan Can’t Make Supermajors Cut Oil Production | OilPrice.com Charles Kennedy Charles is a writer for Oilprice.com More Info Related News By Charles Kennedy – May 29, 2025, 11:30 AM CDT Kazakhstan cannot reduce its oil production as it has no right to impose output reductions on international firms that are operating more than 70%...Continue Reading

Crude oil inventories in the United States dipped by 2.8 million barrels during the week ending May 23, according to new data from the U.S. Energy Information Administration released on Wednesday. Crude oil prices were trading up prior to the crude data release by the U.S. Energy Information Administration. On Tuesday, the American Petroleum Institute...Continue Reading

Galp Expects New Field to Boost Its Production in Brazil by 40% | OilPrice.com Charles Kennedy Charles is a writer for Oilprice.com More Info Related News By Charles Kennedy – May 29, 2025, 10:30 AM CDT Portugal-based energy company Galp expects its oil production in Brazil to jump by 40% in the coming years as...Continue Reading

Nuclear Making a Comeback in US, Europe | OilPrice.com Andrew Topf With over two decades of journalistic experience working in newspapers, trade publications and as a mining reporter, Andrew Topf is a seasoned writer specializing in… More Info Premium Content By Andrew Topf – May 29, 2025, 10:30 AM CDT A resurgence in nuclear energy...Continue Reading

Libya’s Eastern Government Warns Of Force Majeure on Oil Ports and Fields | OilPrice.com Charles Kennedy Charles is a writer for Oilprice.com More Info Related News By Charles Kennedy – May 29, 2025, 9:30 AM CDT The eastern government of Libya may declare force majeure on oil export terminals and oilfields due to “repeated assaults...Continue Reading

TotalEnergies has signed an agreement with Shell to sell its 12.5% interest in the Bonga oil field, offshore Nigeria, for $510 million. The deal increases Shell’s stake in the Bonga oil field to 67.5%. Shell completed its sale of onshore Nigeria assets in the West African nation. SourceContinue Reading