Although natural gas exports from Mexico are today non-existent, seeing as it produces too little of the power-plant fuel to supply its own domestic needs, the country’s proximity to booming U.S. reserves positions it well to supply American gas to hungry buyers in Europe and Asia. SourceContinue Reading

Nigerian President Muhammadu Buhari’s flip-flop over the sale of Exxon Mobil Corp.’s assets could discourage investment in Africa’s largest oil producer in the wake of industry reform meant to grow the sector. SourceContinue Reading

Russia defied expectations of a collapse in oil production following its invasion of Ukraine. But Moscow will have to redouble its efforts to find new buyers if it’s to keep output from shrinking in the coming months. SourceContinue Reading

Saudi Aramco posted the biggest quarterly adjusted profit of any listed company globally driven by high crude prices and production. SourceContinue Reading

Offshore Energies UK has urged government to prioritize the domestic production of energy after a House of Commons briefing showed that in June 2022, the UK imported no oil, gas or coal imports from Russia. SourceContinue Reading

While the Inflation Reduction Act takes important steps toward new oil and gas leasing and investments in carbon capture and storage, it falls well short of addressing America’s long-term energy needs and further discourages needed investment in oil and gas, API said. SourceContinue Reading

After the U.S. House of Representatives passed the Inflation Reduction Act, National Ocean Industries Association President Erik Milito said the bill secures some key priorities for long-term American energy security. SourceContinue Reading

Phase 2 of project approvals is great boost to jump start carbon capture, but all projects are needed if UK is to meet climate goals, industry body OEUK says. SourceContinue Reading

Oil & Natural Gas Corp.’s profit beat estimates to rise more than three times after oil prices surged in the wake of Russia’s invasion of Ukraine and an increase in local gas prices. SourceContinue Reading

Exxon Mobil Corp. renewed two deepwater leases in Nigeria for 20 years, among the first permits granted under the country’s new oil and gas law. SourceContinue Reading