A high-stakes arbitration kicks off Monday in London that could make or break Chevron’s $53 billion bid to acquire Hess Corp—and with it, a coveted 30% stake in Guyana’s booming Stabroek Block. ExxonMobil and CNOOC, Hess’s partners in the block, claim they have a right of first refusal on that stake, arguing the Chevron-Hess deal...Continue Reading

The total number of active drilling rigs for oil and gas in the United States came crashing down this week, according to new data that Baker Hughes published on Friday, following a 6-rig decrease last week. The total rig count in the US fell by 10 to 566 rigs, according to Baker Hughes, down 34...Continue Reading

South Africa Launches Oil Giant to Revive Energy Sector | OilPrice.com Julianne Geiger Julianne Geiger is a veteran editor, writer and researcher for Oilprice.com, and a member of the Creative Professionals Networking Group. More Info Related News By Julianne Geiger – May 23, 2025, 11:29 AM CDT South Africa has officially launched the South African...Continue Reading

Kazakhstan Expects to Top Its Oil Output Plan in Defiance of OPEC+ | OilPrice.com Charles Kennedy Charles is a writer for Oilprice.com More Info Premium Content By Charles Kennedy – May 23, 2025, 11:00 AM CDT Kazakhstan is poised to exceed its 2025 oil production target of 96.2 million tons due to increased output from...Continue Reading

Suriname Votes for President Who Will Oversee Newly-Found Oil Wealth | OilPrice.com Charles Kennedy Charles is a writer for Oilprice.com More Info Related News By Charles Kennedy – May 23, 2025, 10:30 AM CDT Suriname, the South American nation hoping to replicate Guyana’s oil boom, is voting on Sunday in presidential and general elections to...Continue Reading

U.S. President Donald Trump criticized the UK’s approach to taxing North Sea oil and gas, saying it discouraged drilling and raised energy prices.  SourceContinue Reading

Trump’s EU Tariff Threat Puts Oil Prices Under Pressure | OilPrice.com Michael Kern Michael Kern is a newswriter and editor at Safehaven.com and Oilprice.com,  More Info Premium Content By Michael Kern – May 23, 2025, 10:07 AM CDT Trump’s threat to place a 50% tariff on the EU has renewed demand concerns in oil markets,...Continue Reading

Can OPEC+ Reclaim Market Share From U.S. Shale? | OilPrice.com Premium Content By Editorial Dept – May 23, 2025, 9:44 AM CDT Can OPEC+ Reclaim Lost Market Share from Shale? – As OPEC+ members are expected to gather for their monthly ministerial meeting on June 1, another expedited production hike of 411,000 b/d is on...Continue Reading

Iraq Says Direct U.S.-Kurdistan Oil Deals Violate Constitution | OilPrice.com Charles Kennedy Charles is a writer for Oilprice.com More Info Related News By Charles Kennedy – May 23, 2025, 9:30 AM CDT While the federal government of Iraq welcomes cooperation with U.S. energy firms, Baghdad noted on Friday that direct deals with the semi-autonomous Kurdistan...Continue Reading

President Donald Trump is expected to sign executive orders as early as Friday to boost the nuclear energy industry by streamlining reactor approvals and reinforcing fuel supply chains, Reuters reported on Thursday afternoon. Four sources familiar with the matter told Reuters that the forthcoming orders aim to simplify the regulatory process for approving new nuclear...Continue Reading