Russian Deputy Prime Minister Alexander Novak met heads of local oil companies on Wednesday, instructing them to maximiae gasoline and diesel supply to the domestic market, according to a statement posted on the government's Telegram channel…
Cuban state-run media said at the weekend that 90,000 metric tons of Russian oil had arrived in the cash and fuel-short country to help alleviate power outages and gasoline shortages.In 2022, Russia resumed some oil shipments to the Communist…
Oil prices rose on Friday and were set for weekly gains as markets awaited an OPEC+ decision on supply agreements for the second quarter while weighing fresh U.S., European and Chinese economic data.Brent LCOc1 futures for May were up $1.43…
OPEC+ will consider extending voluntary oil output cuts into the second quarter, three OPEC+ sources told Reuters, to provide additional support for the market, and could keep them in place until the end of the year, according to two of them…
U.S. shale oil producer APA Corp missed Wall Street estimates for fourth-quarter profit on Wednesday, hit by weaker North Sea production.Its North Sea production was hit by a temporary shutdown during the reported quarter at its Beryl Bravo offshore platform…
Australian oil and gas company Karoon Energy has revised oil production forecast for its Baúna Field offshore Brazil, as it prepares for SPS-88 well intervention to resolve the issues relating to equipment on the Cidade de Itajaí FPSO.Due to operational issues encountered at its Baúna Field…
BP has started a new four-dimensional (4D) high-definition ocean bottom node seismic program on its Azeri-Chirag-Deepwater Gunashli (ACG) oil field in the Caspian Sea, offshore Azerbaijan.This is the largest-ever seismic acquisition commitment made by BP globally by all its aspects – area size…
Guyana said it expects to receive some $2.1 billion from oil exports and $320 million from royalties this year as crude production continues to rise, an increase from the $1.62 billion received in 2023.The South American nation's gross domestic product is expected to increase by 34…
U.S. crude production will rise to record highs in 2024 and 2025, but will grow less than it did last year, the U.S. Energy Information Administration (EIA) said on Tuesday.In its Short-Term Energy Outlook (STEO), EIA projected U.S. crude production will rise by 290…
CNOOC has announced that the Lufeng Oilfields Phase II Development Project has commenced production.The project is located in the eastern South China Sea, with an average water depth of approximately 136 meters. It consists of the Lufeng 8-1 Oilfield…
West Azeri platform, located in the Caspian Sea at Azeri-Chirag-Gunashli (ACG) oil field, has achieved 1 billion barrels total production.The announcement was made by BP, which is the operator of ACG oil field, on behalf of its partners SOCAR…
Woodside Energy has achieved another significant step forward for the Sangomar Project with the sail away from Singapore of the Léopold Sédar Senghor FPSO.The FPSO, named after Senegal’s first president, is travelling 12,000 nautical miles from Singapore to its final destination…
Brazilian oil company Enauta said on Monday it acquired the entire 23% stake held by QatarEnergy Brasil Ltda in some oil fields in the Campos Basin for a total value of $150 million.In a securities filing, the company said that the transaction to acquire a stake in the Abalone…
Mexico's Grupo Carso reached an agreement to indirectly purchase for $530 million a 50% stake in the offshore, shallow water Ichalkil and Pokoch oil fields, according to a company filing published on Monday.The fields, located offshore from the Mexican state of Campeche in the Gulf of Mexico…
The Canada-Newfoundland and Labrador Offshore Petroleum Board (C-NLOPB) has approved the Development Plan Amendment (DPA) for the Hebron Field.The Hebron oil field is located offshore Newfoundland and Labrador, Canada, in the Jeanne d'Arc Basin 340 kilometers southeast of St…