Industry & Analysis
News
April 14, 2025
OPEC cut forecasts for global oil demand growth slightly this year and next as President Donald Trump’s tariff onslaught takes a toll on consumption, while remaining more bullish than other forecasters.
News
April 11, 2025
The number of U.S. rigs drilling for crude fell by nine to 480 this week, the biggest drop since June 2023. Domestic oil prices have been hovering around the low $60s-a-barrel, below levels that energy executives have said they need to make new drilling profitable.
News
April 11, 2025
Chevron Corp. was ordered to return nearly 1 million barrels of Venezuelan oil to Petroleos de Venezuela SA in a blow to the oil major, which was working to secure crude before wrapping up operations in the country when a U.S. sanctions deadline hits in May.
News
April 11, 2025
The UAE’s recent investments in Mozambique and Egypt highlight its expanding role in Africa’s energy sector, positioning it as the continent’s largest investor and a key partner in driving future growth.
News
April 10, 2025
Prime Minister Mark Carney pledged to make Canada the world’s “leading energy superpower” through a plan that includes establishing a single office that would decide on major projects within two years.
News
April 10, 2025
The equity investment into Kimmeridge's SoTex HoldCo marks Mubadala Energy's U.S. market entry and ambitious expansion strategy. Kimmeridge's highly scalable upstream gas and LNG business comprises currently producing upstream gas assets and a pre-FID LNG project.
News
April 09, 2025
APTIM and joint venture partner BWX Technologies, Inc. have been awarded a $1.4 billion contract by the US Department of Energy (DOE) to manage and operate the Strategic Petroleum Reserve (SPR), as well as its associated facilities and systems in Louisiana and Texas.
News
April 09, 2025
The plunge in oil prices over the past week was more severe than the market’s dynamics justify, and the drop may be short-lived, according to Canadian energy executives gathered in Toronto. “What we learned from Covid is that energy demand is pretty resilient,” said one executive.
News
April 09, 2025
The market rout sparked by President Donald Trump’s trade war is touching almost every part of the economy. But there are probably few industries feeling more aggrieved right now than U.S. shale oil.
News
April 08, 2025
U.S. Energy Secretary Chris Wright will tomorrow begin a nearly two-week tour of three Middle East countries, including Saudi Arabia, marking his first visit as a U.S. official to the de facto leader of the OPEC+ oil producer group.
News
April 08, 2025
The sudden plunge in oil prices begs the question, what if WTI prices go as low as $50 per barrel? At that level, U.S. Lower 48 onshore crude oil production could decline by more than 1 million bpd over 12 months, according to S&P Global Commodity Insights.
News
April 07, 2025
Striving to increase production and reverse natural declines in mature oilfields, Ghana is promoting new investment across its upstream oil and gas sector through national upstream regulator the Petroleum Commission of Ghana.
News
April 07, 2025
A top executive at Diamondback Energy Inc. called on President Donald Trump’s administration to explain how the global trade war will help shale producers, a rare instance of public pushback from a U.S. oil boss.
News
April 04, 2025
Key OPEC+ nations reiterated the need for members to stick to oil output quotas. The OPEC+ alliance stunned oil traders last week by announcing it would accelerate plans to revive halted supplies next month, with an increase triple the size originally scheduled.
News
April 04, 2025
Brazil’s state-controlled oil producer Petroleo Brasileiro SA said it has finished building a wildlife rescue center, fulfilling a final requirement by Ibama as it seeks approval to drill an exploratory well in a promising region offshore the country’s Northern state.
News
April 04, 2025
The Railroad Commission of Texas this week released preliminary data on statewide oil and gas production for the month of January 2025. The figures for this month reflect output from 158,555 oil wells and 83,176 gas wells.
News
April 03, 2025
In a conference Thursday, OPEC+ was expected to simply remind errant members to respect output limits, ahead of confirming its existing plan to gradually raise production. Instead, they delivered a major shock — increasing supply by three times the planned amount in May in what delegates described as a deliberate effort to drive down prices.
News
April 03, 2025
In a bid to bolster significant global investment and competitiveness within Africa's oil and gas sector, national oil companies (NOCs) in Nigeria and Angola are progressing with long-anticipated initial public offerings (IPOs).
News
April 01, 2025
In a significant development for Africa's energy sector, Nigeria, Angola and Ghana have fulfilled their capital commitments toward establishing the Africa Energy Bank (AEB). This milestone represents 44% of the minimum required funding from APPO.
News
March 31, 2025
PetroChina Co.’s profit hit record levels last year, as increased production offset lower energy prices. Net income at China’s biggest oil and gas producer climbed 2% to 164.7 billion yuan ($22.7 billion), according to a filing on Sunday.
News
March 31, 2025
The Trump administration revoked permits and waivers allowing Western energy firms to operate in Venezuela, three people familiar with the issue said Saturday. The move further isolates Venezuelan President Nicolas Maduro from the world oil market.
