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Guyana’s Oil Industry Is In For A Stellar Year

Guyana’s Oil Industry Is In For A Stellar Year

Guyana’s oil boom is just…

Venezuela’s Vast Oil Wealth Could Become The World’s Largest Stranded Asset

Venezuela’s Vast Oil Wealth Could Become The World’s Largest Stranded Asset

Venezuela’s mounting economic challenges could…

Energy / Crude Oil

Guyana’s Oil Industry Is In For A Stellar Year

Jan 24, 2023 at 13:47 | Matthew Smith

ExxonMobil made its first world-class oil discovery in Guyana’s territorial waters in 2015. Since then, the energy supermajor has made over

Oil Hits 7-Week High On Strong Demand In China

Jan 24, 2023 at 08:55 | Tom Kool

Oil prices held near 7-week highs on Tuesday morning, with strong demand figures from China fueling optimism in the markets.

Russian Oil Exports Plunged By 820,000 Bpd Last Week

Jan 23, 2023 at 08:27 | Tsvetana Paraskova

Russian crude oil shipments from its key export terminals slumped by 22%, or by 820,000 barrels per day (bpd), last week, compared to the previous week, according to…

China Is Still The Biggest Driver Of Oil Prices

Jan 20, 2023 at 11:05 | Tsvetana Paraskova

Oil prices settled on Thursday at their highest level since December 1 as the market is turning bullish on China’s oil demand this…

Upstream Spending To Rise To $485 Billion In 2023

Jan 20, 2023 at 10:26 | Alex Kimani

Over the past three years, the majority of U.S. energy companies have avoided spending big to expand production in the aftermath of the 2020 oil crisis, prioritizing returning…

Russian Oil Ban Creates Profit Opportunities For Traders In Singapore

Jan 20, 2023 at 09:44 | ZeroHedge

A ban on Russian crude oil by the European Union and the US went into effect late last year, forcing Russia to find more buyers in the eastern…

Bulgaria Remains A Major Buyer Of Russian Oil

Jan 20, 2023 at 09:24 | RFE/RL staff

Russia has been hit by waves of Western sanctions for its unprovoked invasion of Ukraine, including its energy sector, a major source of revenue for the Kremlin.

Suriname’s Oil Boom Hits A $10 Billion Snag

Jan 20, 2023 at 09:13 | Matthew Smith

A series of high-quality oil discoveries in Block 58 offshore Suriname combined with investment bank Morgan Stanley estimating that the block contains 6.5 billion barrels of oil sparked…

India’s Growing Oil Industry Is Garnering International Attention

Jan 19, 2023 at 09:52 | Felicity Bradstock

India is expecting big investments in its oil and gas sector this year, with international oil majors such as Chevron, Exxon, and TotalEnergies showing interest. This follows the…

OPEC Expands Control Of Oil Markets As Shale Growth Stalls

Jan 17, 2023 at 08:49 | Tsvetana Paraskova

After a decade of exponential growth, the U.S. shale patch is no longer the swing producer on the global markets. That role is now back in the hands…

Venezuela’s Vast Oil Wealth Could Become The World’s Largest Stranded Asset

Jan 17, 2023 at 08:39 | Matthew Smith

President Joe Biden’s decision to authorize U.S. supermajor Chevron to recommence lifting crude oil in Venezuela breathed hope into President Nicolas Maduro’s plans…

China’s Reopening May Not Lead To A Major Jump In Oil Prices

Jan 16, 2023 at 15:28 | Simon Watkins

China has undergone three distinct phases in its reaction to COVID-19 since the Wuhan Municipal Health Commission reported the first small cluster of cases of ‘pneumonia’ in Wuhan city…

The UK Loophole That Keeps Russian Oil Coming In

Jan 16, 2023 at 14:12 | Alex Kimani

Russia’s 2022 invasion of Ukraine has forced a dramatic restructuring of energy markets in the west, with many European nations vowing to wean themselves off Russian energy products.…

U.S. Oil, Gas Rig Count Sees Small Gains As Crude Inches Higher

Jan 13, 2023 at 12:13 | Julianne Geiger

The total number of total active drilling rigs in the United States rose by 3 this week, according to new data from Baker Hughes published on Friday. The total rig…

U.S. Oil Production Growth’s Path Is Clear

Jan 13, 2023 at 12:05 | Irina Slav

How much will U.S. oil production grow this year—this is the question on a lot of minds, both in the United States itself, and across the world.

Russia Forced To Use More Of Its Own Oil Tankers To Dodge Sanctions

Jan 13, 2023 at 10:50 | Julianne Geiger

Russia is increasing the number of its own oil tankers that it is using to deliver its crude oil to buyers, Bloomberg said on Friday. The EU levied strict sanctions…

G7 Oil Price Cap About To Get More Complicated

Jan 12, 2023 at 15:17 | Alex Kimani

About a month ago, the group of Seven (G7) coalition imposed a price cap on Russian oil with the objective of reducing Russia’s oil revenue which goes to…

The Future Of U.S. Offshore Oil Drilling Hangs In The Balance

Jan 12, 2023 at 12:43 | Tsvetana Paraskova

The Biden Administration is finalizing the next five-year offshore leasing program, which has been delayed by several months already, creating yet another uncertainty for the U.S. oil industry…

180 Million Barrels Of Crude May Never Be Returned To The SPR

Jan 11, 2023 at 16:28 | Irina Slav

Earlier this week, the Biden administration rejected the first bids from companies offering to sell crude oil into the strategic petroleum reserve of…

Kazakhstan Can’t Fill The Void Left By EU Oil Embargo On Russia

Jan 11, 2023 at 13:13 | The Jamestown Foundation

On December 29, 2022, Kazakhstani state-owned oil and gas company KazMunaiGaz announced plans to export oil to Germany starting in January 2023. Arrangements were made to export a…

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