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Crude Oil
EIA Confirms Turkmenistan’s Rising Oil Reserves
Turkmenistan continues to strengthen its position as a key energy producer, with proven oil reserves reaching 600 million barrels as of January 1, 2025, accordi…
Oil Field
Iraq Declares Discovery of Huge Oil Field
The state-owned Iraqi Midland Oil Company said that it has discovered huge oil reserves in the East Baghdad oil fieldMohammed Yassin Hassan, director general of…
Oil Field
New Oil Reserves Identified in Xinjiang’s Tarim Basin, Signaling Vast Potential
China has identified newly proven oil equivalent reserves of 55.56 million tons in the Tarim Basin, located in the Xinjiang Uygur autonomous region, the China G…
Oil & Gas Trade
New Offshore Platform Taps Into Potential Of Heavy-oil Reserves In China
The world's first mobile thermal-injection platform was recently delivered in China's Shandong province, offering new opportunities to tap into China…
Oil Field
Kuwait Announces ‘Giant’ Oil Discovery
Kuwait Petroleum Corporation (KPC) said on Sunday it had made a "giant" oil discovery in the Al-Nokhatha field east of the Kuwaiti island of Failaka, with oil r…
Oil&Gas Drilling
Kazakhstan’s Oil Reserves Reach 4.4 Billion Tons
Kazakhstan’s current oil reserves amounted to 4.4 billion tons as of the beginning of the year, said the Energy Ministry in an official response to Tengri…
Oil & Gas Trade
Democratic Republic of the Congo (DRC) Seeks to Unlock Estimated 5 Billion Barrels of Oil
With 180 million barrels of proven oil reserves – and up to 5 billion of estimated oil reserves – the Democratic Republic of the Congo (DRC) is emba…
Oil Price
Release of Us Oil Reserves Addresses ‘Underlying Crisis’ and Not Higher Prices, Envoy Says
US energy envoy Amos Hochstein says the country will continue to use its strategic reserves to help resolve crises. Antonie Robertson / The NationalThe US relea…
Crude Oil
U.S. Emergency Oil Reserves Tumble to Lowest Since 1984
U.S. emergency crude oil stocks fell 8.4 million barrels last week to 434.1 million barrels, their lowest since October 1984, according to U.S. Department of En…
Crude Oil
U.S. Big Company Oil Reserves up 13% Since 2017, Deals Drive Recent Growth -Study
U.S. oil reserves held by 50 large companies rose by 13% over the five years ended in December, according to an Ernst & Young report released on Wednesday, with…
Oil Exploration
China Heralds Another Major Oil Discovery
China’s state-run China Petrochemical Group, Sinopec, says it has discovered a massive oilfield in the Tarim Basin, containing 1.7 billion tons of oil reserves…
Crude Oil
Biden Sidelined Global Energy Partners with Record Emergency Oil Release
The United States announced a record-sized release of emergency crude oil reserves in March without consulting partners in IEA, leaving them scrambling to match…
Australia
Australia ‘Has Just 68 Days of Oil Reserves’
The country is nearly 91% dependent on imported oil, a public policy think tank has warned.
Joe Biden
Japan Will Act Appropriately on Oil Reserves Release
Japan will act appropriately on oil reserves release while closely watching global developments, the industry minister said on Friday, ahead of a meeting by Int…
Natural Gas
Lukoil Strikes Gas at a Caspian Structure, but Major Oil Prospect Proves to be a Mirage
Russian producer was hoping for a much-needed boost in oil reserves within large licence block in Russian sector of the Caspian Sea
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