Analysts from Standard Chartered have…
Despite renewable energy efforts, the…
OPEC has been restraining production since the beginning of the year, after a group of cartel members teamed with Russia and other non-OPECs and agreed to production cuts last November.…
The sovereign wealth fund of Saudi Arabia has set up a defense business as part of its efforts to reduce the Kingdom’s dependence on crude oil for budget revenues…
U.S. shale oil drillers have tactically used hedging to survive during the current oil crisis. Along with the technological advances, hedging has been one of the reasons for the survival…
Iraq’s May export figures show the Middle Eastern nation reaching for the sky to dominate the Asian oil supply game, according to new shipping data analyzed by Bloomberg. Sixty-two million…
Amid planned maintenance at some big state refineries and decreased domestic production, China’s refinery runs in April dropped to their lowest levels since last September, according to data by the…
Port Arthur, TX is home to the U.S. refining fleet’s crown jewel. With an atmospheric distillation capacity of 603 MBbl/cd, this complex coking refinery is the largest refinery in the…
Libya’s crude oil production has exceeded 800,000 bpd for the first time since 2014, and could average up to 1.2 million bpd for the rest of this year if oil…
As production in the Permian Basin continues to increase, the accompanying infrastructure has struggled to keep up. Expansions to pipeline capacity are needed to handle the heavier flow, as more…
With Mexico flinging the doors wide open to its vast oil wealth, with much of the hard work already done and the massive discoveries having already been made, more than…
Saudi Arabia will reduce its crude oil exports to the Asian market by around 7 million barrels in June, Reuters reported on Tuesday, citing a source with first-hand knowledge…
Canada’s Crescent Point Energy Corp—the North American oil and gas exploration and production company that has completed the highest number of acquisitions over the past five years—is now prioritizing organic…
Iran plans to lift its crude oil production capacity by 3 million bpd, Iranian oil ministry’s news service, Shana, reported on Monday, quoting a senior official as saying that…
The production cut agreement that OPEC closed last year in a bid to improve oil prices could be extended for more than six months, Saudi Arabia’s Oil Minister Khalid al-Falih…
The Iranian Offshore Oil Company will increase production at the Foroozan oil field, which Iran shares with Saudi Arabia, by 12,000 barrels daily, the company’s executive director told Iranian…
Saudi Arabia will continue to have full control over the oil wells and production of Aramco, after the much-anticipated initial public offering of around 5 percent of the Saudi oil…
Russia has exceeded its assigned quota for crude oil production cuts by 790 barrels a day, sources from the Energy Ministry told media. Russia was supposed to cut 300,000…
In another sign that oil majors are recovering with the help of higher oil prices this year, BP (NYSE:BP) reported on Tuesday a first-quarter underlying replacement cost profit –…
Saudi Arabia’s state-held oil giant Saudi Aramco will be launching in 2018 the revamped Muajjiz oil terminal on the Red Sea that would raise the Kingdom’s oil loading and export…
OPEC could extend its crude oil production cut agreement by less than six months – the period that is widely assumed to be the logical continuation of the initial deal,…
The first quarter of the year saw record-high oil and gas M&A activity in the U.S., with the value of deals topping US$73 billion – a whopping 160-percent annual increase…