China made an unprecedented intervention in the global oil market, releasing crude from its strategic reserve for the first time with the explicit aim of lowering prices. SourceContinue Reading
Mexico cut its forecast for oil production at Pemex next year and reduced its tax burden after a string of accidents at offshore platforms signaled the highly indebted state company is struggling. SourceContinue Reading
Saudi Aramco is considering a bold move to open up one of the world’s largest unconventional gas fields to foreign investors, as it looks to fund a $110 billion project to help it diversify from oil sales, people familiar with the matter said. SourceContinue Reading
“The commitments shown by Suncor Energy, Cenovus Energy, and Murphy Oil are extremely positive for the Newfoundland and Labrador offshore oil and gas industry,” Noia CEO Charlene Johnson said in a statement. SourceContinue Reading
Higher consumption across major economies is buoying oil prices that have rallied around 40% this year. Against this backdrop, the OPEC+ alliance decided to keep restoring crude supply earlier this month, citing tighter balances into year-end. SourceContinue Reading
Gazprom PJSC is planning to start flowing natural gas through one of the world’s most controversial pipelines next month, according to people with direct knowledge of the company’s plan. SourceContinue Reading
Gazprom PJSC is planning to start flowing natural gas through one of the world’s most controversial pipelines next month, according to people with direct knowledge of the company’s plan. SourceContinue Reading
India’s Oil and Natural Gas Corp. is exploring a purchase of a significant minority stake in the $4 billion-plus Sangomar oil project off the coast of Senegal from Woodside Petroleum Ltd., according to people familiar with the matter. SourceContinue Reading
Aker Solutions, Siemens Energy and Doosan Babcock have formed a consortium which will see the three companies draw upon more than 450 years of combined experience to develop technology and solutions for the growing UK carbon capture, utilization and storage market. SourceContinue Reading
The decline in DUCs in most major U.S. onshore oil-producing regions, especially in the Permian region, reflects more well completions and, at the same time, less new well drilling activity. SourceContinue Reading
