Production
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 28, 2025
African national oil companies (NOCs) are leveraging innovative financing strategies to advance oil and gas projects, ensuring continued investment despite shifting global energy markets.
News
March 27, 2025
The Railroad Commission of Texas (Texas RRC) reported record-setting volumes in 2024 for both oil and natural gas in the state. "These latest records further demonstrate Texas’s position as a global leader in oil and gas production,” said RRC Chairman Christi Craddick.
News
March 26, 2025
The addition of the Nguya floating liquefied natural gas (FLNG) vessel is part of the second phase of the Eni-operated Congo LNG project and is expected to increase the project’s production capacity by 2.4 million tons per annum (MMtpa).
News
March 26, 2025
bp has received final government ratification for its contract to invest in the redevelopment of several giant oil fields in Kirkuk, in the north of Iraq. The contract between North Oil Company (NOC), North Gas Company (NGC) and bp includes the rehabilitation and redevelopment of the fields, spanning oil, gas, power and water with potential for investment in exploration.
News
March 25, 2025
Société Nationale des Pétroles du Congo (SNPC) has outlined its forthcoming Gas Master Plan (GMP) designed to promote gas utilization and attract foreign investment while reducing dependency on oil revenues and expanding the country’s power grid.
Article
March 2025
While still the dominant player, Petrobras may see its market share decrease as new companies enter the country. Brazil's oil production should increase, due to development in subsalt regions and new acreage. Ethanol will gain market share from gasoline in Brazil, with significant growth in ethanol demand anticipated.
News
March 25, 2025
Tullow Oil will pump as much as it can from mature assets in West Africa this year as part of plans to bring debt below $1 billion. "In the year ahead, our priorities are to progress our refinancing plan and optimize our production activities," Tullow said in a statement.
News
March 20, 2025
OPEC+ nations that have persistently exceeded production quotas provided updated plans to make additional cutbacks in compensation. The pledged reductions should — in theory — offset the group’s plans to revive halted output through to the end of next year.
News
March 20, 2025
The Trump administration is poised to extend Chevron Corp.’s deadline to halt its Venezuela operations for at least another 30 days, following lobbying efforts by the Texas-based oil giant, people familiar with the matter said.
News
March 19, 2025
The U.S. Energy Information Administration's (EIA) recent forecast states that two new oil developments in Alaska — the Nuna and Pikka projects — are expected to boost crude oil production in the state after decades of decline.
News
March 18, 2025
MOL has discovered a new oil field near Somogysámson in Western Hungary. During the exploration drilling carried out in December 2024, oil was found at a depth of 1,250 meters. According to the results, the well has potential to produce 1,200 bpd.
News
March 14, 2025
U.S. President Donald Trump is set to meet with top oil executives at the White House next week as he charts plans to stoke domestic energy production, even as the industry grows uneasy about falling crude prices and tariff uncertainty.
News
March 13, 2025
(WO) - With the general sense of excitement about U.S. production carrying over from panels earlier in the week, ExxonMobil’s panel on operations in the Permian basin convened with great enthusiasm during day three of CERAWeek 2025 by S&P Global.
News
March 13, 2025
Venezuelan oil contractors are continuing their work with Chevron Corp. and have not been warned of an impending shutdown despite a U.S. government deadline to stop producing oil there by early April.
News
March 12, 2025
CERAWeek 2025 by S&P Global maintained momentum into the middle of the week with a panel discussing some of the long-term challenges facing the upstream. Featuring executive representatives from bp, Repsol, Baker Hughes and Cairn Oil & Gas, the panel presented a range of perspectives from upstream production and exploration to upstream services and emerging markets.
News
March 12, 2025
OPEC+ crude production surged last month as Kazakhstan further breached its agreed limit. OPEC+ has said it can “pause or reverse” the scheduled series of output increases depending on market conditions, and has just under a month to consider the next hike.
News
March 11, 2025
Ecuador President Daniel Noboa’s plan to revitalize the nation’s biggest oil field is crumbling as he scrambles to secure re-election. Since striking a deal last year to hand Ecuador’s Sacha field to Sinopetrol, Noboa has faced mounting criticism over his handling of the deal.
News
March 10, 2025
Egypt will launch a new licensing round, offering 13 exploration and production opportunities in a bid to further develop its hydrocarbon resources. With the government’s commitment to boosting E&P activities, Egypt is positioning itself as a leading player in the region’s energy landscape.
News
March 07, 2025
Norweigan oil company DNO has reached an agreement to acquire Sval Energi from HitecVision for a cash consideration of $450 million (USD) based on an enterprise value of $1.6 billion. The Sval Energi assets will enable DNO to quadruple its North Sea production.
News
March 07, 2025
By strengthening their balance-sheets through partial privatization, transferring their regulatory roles to independent entities and acquiring more assets, African NOCs are emerging as strong partners for foreign firms.
