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Norway’s energy ministry said on Thursday it has received applications from 20 oil and gas companies seeking exploration acreage in the government’s annual mature-areas (APA) licensing round. This year’s round will contain more acreage in the Arctic Barents Sea, part of Norway’s strategy to extend the life of its oil industry, the government has …
Norway Oil and Gas Exploration Round Attracts Bids From 20 Firms Read More »
International oil and gas companies have announced they would cut tens of thousands of jobs in 2024 and 2025 due to lower oil prices and as they consolidate after the biggest wave of mergers and acquisitions in the industry for decades.Benchmark Brent crude futures have fallen in 2025 as OPEC+ increases output and amid economic …
A Sign of the Times: Global Oil and Gas Company Layoffs in 2024 and 2025 Read More »
Summary OPEC+ to consider raising oil production further, sources say OPEC+ meeting set for Sunday US crude stocks rose last week, sources say (Reuters) – Oil prices fell 1.5% on Thursday, adding to their more than 2% decline the previous session, as investors awaited a weekend meeting of OPEC+ at which producers are expected to …
Oil Falls More Than 1% as OPEC+ to Consider Another Output Hike Read More »
Venezuela’s oil exports surpassed 900,000 barrels per day in August, the highest level since November, after energy producer Chevron received a license that has allowed the OPEC country’s crude to return to the U.S. market after a four-month pause, shipping data showed. The U.S. Treasury Department last month issued a restricted authorization for Chevron, one …
Venezuela’s Oil Exports Rise to 9-Month High as Cargoes Return to US Read More »
Takeaways by Bloomberg AI China has brought Power of Siberia 2 a step closer to becoming reality and appears to have agreed to expanded capacity on other routes, tightening its ties with Russia. The pipeline agreement and other concessions made by China are seen as a significant geopolitical message, with China hedging against its exposure …
Putin’s Energy Wins in China Deal a Blow to Trump’s Export Push Read More »
Venezuela’s government is slowly allowing the use of dollar-tied cryptocurrencies in currency exchanges for the private sector, a dozen sources said, as U.S. restrictions on oil exports reduce available foreign currency. Sanctions by the United States, which the Venezuelan government has characterized as “economic war,” prevent many business transactions, forcing companies seeking to buy raw …
With Dollars Scarce, Venezuela Currency Exchanges Turn to Crypto Read More »
Summary Eight OPEC+ countries to meet on Sunday OPEC+ could also pause hikes for October, source says No immediate comment received from OPEC or Saudi authorities (Reuters) – OPEC+ will consider further raising oil production at a meeting on Sunday, two sources familiar with the discussions said, as the group seeks to regain market share. …
OPEC+ to Consider Further Oil Output Hike on Sunday Read More »
(Reuters) – EOG Resources CEO Ezra Yacob confirmed on Tuesday that the company’s project with the Abu Dhabi National Oil Company is running on schedule, with ADNOC drilling horizontal wells and testing oil to the surface at a shale block in the United Arab Emirates. Houston-based EOG Resources operates the block and had expected to …
ADNOC Starts Drilling Wells at EOG Resources’ UAE Shale Play Read More »
By Dorothy Neufeld | Graphics/Design by Sabrina Lam Original: www.visualcapitalist.com/the-worlds-top-25-countries-by-oil-consumption/ Key Takeaways In 2024, U.S. oil consumption stood at 19 million barrels per day, a change of -0.1% from the previous year. China follows next, with 16.4 million barrels per day, changing -1.2% over the year. Over the past decade, India’s oil consumption has grown …
Ranked: The World’s Top 25 Countries by Oil Consumption Read More »
MIDLAND, Texas, Sept. 02, 2025 (GLOBE NEWSWIRE) — Diamondback Energy, Inc. (NASDAQ: FANG) (“Diamondback”) today announced that its wholly owned subsidiaries have entered into a definitive agreement to sell their 27.5% equity interest in EPIC Crude Holdings, LP (“EPIC Crude”), an affiliate of EPIC Midstream Holdings LP, to a wholly owned subsidiary of Plains All American …
