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Oil & Gas
Oil Price
Oil Prices Post 3% Annual Decline
Canada
02-01-2025
Coelacanth Energy Eyes Tenfold Increase in Oil Production in 2025
"We believe we're going to be able to create significant value over the next three to five years," said Rob Zakresky, president and CEO of Coelacanth Energy.Canadian oil and natural gas exploration and development company Coelacanth Ener
Oil Price
02-01-2025
UAE Petrol, Diesel Prices Remain Unchanged for January 2025
This stability follows months of declining fuel prices in 2024, with Super 98 petrol dropping from a high of Dh3.34 in May to the current rate of Dh2.61Petrol and diesel prices in the UAE for January 2025 will hold steady, the country’s fuel pri
Natural Gas
03-01-2025
Saipem’s Castorone en Route to Türkiye’s Largest Natural Gas Field for Pipeline Installation
Saipem’s pipelay vessel Castorone is on its way to the Black Sea where it will perform offshore pipeline installation for the second phase of Türkiye’s largest natural gas field.Source: SaipemOn its way to the Sakarya project,
Oil Price
31-12-2024
Oil Inches Lower in Thin Trade, Investors Eye China, US Data
Oil prices slipped lower on Monday in thin holiday trade ahead of the year-end as traders awaited more economic data from China and the U.S. later this week to assess growth in the world's two largest oil consumers.Brent crude futures fell 6 cents
Oil&Gas Drilling
31-12-2024
Very Few Changes in Drilling Activity of Oil/Gas Plays
The one oil play across the US with a gain in drilling activity in the past week was the Williston Basin, according to the most recent rig report from Baker Hughes Co.Located mostly in North Dakota but stretching into South Dakota, Montana and Canada, the
United States
03-01-2025
New York Fires $75 Billion Shot for Big Oil to Foot the Landmark Climate‘Superfund’ Bill
As the climate crisis continues to wreak havoc across the globe, New York has taken decisive action to hold fossil fuel players accountable for their pollution effects by establishing a new climate fund, described as landmark legislation to strengthen the
Crude Oil
31-12-2024
Chinese Energy Giant Exceeds 20 Mln Tonnes of Oil, Gas Output in 2024
Shaanxi Yanchang Petroleum (Group) Co. (YCPC) in northwest China has achieved a major milestone in the country's energy sector, shattering its own production records by surpassing 20 million tonnes in crude oil and natural gas production.YCPC, one
Libya
31-12-2024
Libya’s Oil Production Surpasses Annual Target
The National Oil Corporation (NOC) announced that daily crude oil production has surpassed its annual target, reaching 1,405,609 barrels of crude oil and an additional 52,633 barrels of condensates. This milestone highlights the resilience and dedication
Oil Exploration
31-12-2024
Kharabsheh Follows up on Achievements of Petroleum Exploration Projects
The Minister of Energy and Mineral Resources, Saleh Kharabsheh, reviewed the progress of priority initiatives outlined in the Economic Modernization Vision (2023–2025) for the energy and mining sectors.The updates included advancements in petrol
Natural Gas
02-01-2025
Sherburn-In-Elmet Agricultural Green Gas Plans Submitted
ENGIE has submitted plans to North Yorkshire Council to develop an agricultural anaerobic digestion (AD) facility to the east of the A162, Bond Ings, Sherburn-in-Elmet, following a consultation with the local community and stakeholders this autumn.The fac
Natural Gas
02-01-2025
Subsea7 Expands Its Scope for Giant Black Sea Gas Project With IRM Services
Subsea7 has secured a contract with Turkish Petroleum Offshore Technology Center (TP-OTC) to provide inspection, repair and maintenance (IRM) services for Türkiye’s largest natural gas field.The contract for the Sakarya gas field develo
Oil Refinery
31-12-2024
Production at Russian Refineries Has Dropped to a 12-Year Low Due to Ukrainian Drone Attacks
The reported drop in production at Russian refineries to a 12-year low highlights the significant impact of external factors, such as Ukrainian drone attacks, on critical infrastructure. With oil refining levels projected to fall to 266.9 million tons by
Oil Exploration
31-12-2024
Afghanistan Receives Oil Extraction Equipment for Amu Darya Basin
The spokesperson stated that exploration and extraction work is currently underway on some oil wells in the area, with the work on some of them already completed.Homayoun Afghan emphasized that Afghanistan has the capacity to process the extracted oil dom
Iran
31-12-2024
Iran Increases Oil Production by 250,000 B/D
Iran is increasing oil production by additional 250,000 b/d, ABC.AZ informs, quoting Iranian Oil Minister Mohsen Paknejad.At the end of November, Hamid Bovard, executive director of the National Iranian Oil Company (NIOC), noted that within 100 days, star
Natural Gas
31-12-2024
Upstream Oil, Gas Sector Key to Indonesia’s Energy Self-Sufficiency
The upstream oil and gas sector is key to accelerating the achievement of Indonesia's energy self-sufficiency target, according to Energy and Mineral Resources Minister Bahlil Lahadalia.He noted that energy self-sufficiency requires a sustained an
Natural Gas
31-12-2024
Russia Ready to Export Gas to EU via Routes Bypassing Ukraine, Official Claims
Russia is ready to supply natural gas to Europe through alternative routes bypassing Ukraine, Russian Deputy Prime Minister Alexander Novak claimed on Dec. 25 on Russian state-controlled television.The declaration comes after President Volodymyr Zelensky
Natural Gas
31-12-2024
Iraq Still Negotiating With Mediator to Ensure Turkmen Gas Delivery
In light of the electricity crisis facing the country due to the recent reduction in Iranian gas supplies, Iraq revealed on Sunday the latest developments related to its gas deal with Turkmenistan, which it has been pursuing for almost a year.The Iraqi Mi
India
31-12-2024
Petroleum Import Declines, Worth Rs. 101BN Imported in Five Months of FY 2024/25
The import of petroleum products has decreased during the first five months of the current fiscal year 2024/25.According to latest trade statistics of the Department of Customs, the country has imported petroleum products worth Rs. 101.38 billion by mid-D
Natural Gas
31-12-2024
Eni Fires up Africa Oil and Gas FPSO Project
Eni on Saturday successfully started production of Phase 2 at its Baleine field offshore Ivory Coast, which will boost production at the asset to 60,000 barrels per day of oil 70 million cubic feet per day of associated gas.Phase 2 sees the Petrojarl Kong
LNG
01-01-2025
Trump Administration to Boost US LNG Exports
Liquefied natural gas (LNG) export in the US is expected to accelerate under the administration of Donald Trump who takes office on Jan. 20, according to a senior expert and new report projection.Following Trump's inauguration, for the next four y
Oil Price
01-01-2025
Azerbaijani Oil Price Exceeds 76$
The price of Azeri Light (CIF) branded Azerbaijani oil has increased in world markets, APA-Economics reports.The price of Azerbaijani oil per barrel increased by 0,75 USD or 1% to 76,12 USD.Note that Azerbaijani oil was previously traded for USD 75,37.
Crude Oil
30-12-2024
Nigeria’s 2 Million Bpd Oil Production Target Under Threat
The Central Bank of Nigeria (CBN) has raised concerns about the ageing pipeline infrastructure and operational inefficiencies, identifying them as key factors responsible for the decline in oil revenue during the third quarter of 2024, as a result it doub
Natural Gas
30-12-2024
Oil Prices Rise on Crude Drawdown; Natural Gas Falls on Profit-Taking
It was a mixed bag for commodity prices during the final week of 2024. An unexpectedly large drawdown of 4.2 million barrels — according to the Energy Information Administration — from U.S. crude inventories boosted oil prices. But natural gas prices sank
Oil Pipeline
30-12-2024
Turkey Considering Oil Pipeline to Syria: Minister
Turkey is considering a new oil pipeline to Syria that will also link to the Turkey-Iraq pipeline, the minister of energy and natural resources said on Friday.There are still many aspects to be developed, such as the creation of an oil pipeline from Syria
Crude Oil
30-12-2024
US Crude Oil Stocks Fall for Fifth Straight Week
US crude oil inventories decreased during the week ended Dec. 27, marking their fifth consecutive weekly decline.Data released today, Dec. 27, by the US Energy Information Administration (EIA) showed that commercial crude oil inventories fell by 4.2 milli
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Oil Prices Post 3% Annual Decline
