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Suing Big Oil Is Becoming a Lucrative Business

Suing Big Oil Is Becoming a Lucrative Business

Supermajors have been a top…

Biden Administration's SPR Plans Derailed by Oil Price Surge

Biden Administration's SPR Plans Derailed by Oil Price Surge

The Biden Administration cancels planned…

Energy / Crude Oil

Kazakhstan Eyes Expanded Routes for Oil Exports in 2024

Mar 11, 2024 at 09:24 | Eurasianet

Kazakhstan increased oil exports by volume last year, but flagging prices meant this translated into diminished earnings. The plan for 2024 is to keep expanding sales abroad, although…

Offshore Oil & Gas E&P Staging A Comeback

Mar 08, 2024 at 13:51 | Tsvetana Paraskova

The oil industry has found its newest exploration hotspot offshore Namibia. The high success rate of drilling and appraisal activity offshore Africa's southwestern coast is spurring Big Oil to boost…

China Holds The Key To 2024 Global Oil Demand Growth

Mar 08, 2024 at 08:53 | Tsvetana Paraskova

Despite an increase in China’s crude oil imports in the first two months of 2024, it’s too early to say how the purchases of the world’s top crude importer will…

Iran's Revolutionary Guards Capture Oil Tanker Amid Sanctions Dispute

Mar 08, 2024 at 08:14 | RFE/RL staff

When Iran seized a Marshall Islands-flagged oil tanker last year, Tehran said the transporter had collided with and damaged an Iranian vessel in the Gulf of Oman.

Kuwait Sees Solid Oil Demand In A Fairly Balanced Market

Mar 07, 2024 at 09:29 | Charles Kennedy

Global oil demand looks robust in a balanced market this year, Shaikh Nawaf Al-Sabah, chief executive of Kuwait’s state oil firm Kuwait Petroleum Corporation (KPC), told Bloomberg in an 

Standard Chartered: OPEC’s Latest Move Is Bullish

Mar 07, 2024 at 08:14 | Alex Kimani

Oil markets have managed to reverse their early week losses, inching up higher in Wednesday’s session after the Energy Information Administration reported significant inventory draws across various fuels. The…

Oil Inches Higher on Fuel Inventory Draws

Mar 06, 2024 at 09:37 | Irina Slav

Crude oil prices moved higher today, after the Energy Information Administration reported estimated inventory draws across fuels. In crude, the EIA reported a build of 1.4 million barrels for…

BP Tries To Reverse Big Oil’s Fortunes in Brazil

Mar 06, 2024 at 08:25 | Irina Slav

Back in 2019, Brazil produced over 1 billion barrels of crude oil. It was the first time the national total had broken the billion-barrel mark, and more than half…

India Makes Bold Move to Reduce Dollar Dependency in Oil Trade

Mar 06, 2024 at 08:01 | ZeroHedge

Four months after India's government rejected demands from Russian oil companies to pay for Russia's crude exports in Chinese yuan, it appears India…

Oil Prices Could Surprise to the Upside This Year

Mar 05, 2024 at 08:12 | Irina Slav

Crude oil prices recently logged their second monthly gain in a row as OPEC+ extended their supply curb deal until the end of Q2 2024. The gains have…

New Oil Law Likely To Be The End Of Iraqi Kurdistan’s Independence Dream

Mar 04, 2024 at 12:37 | Simon Watkins

A series of legal rulings by Iraq’s Federal Supreme Court (FSC) on 21 February underlined that the planned New Oil Law being worked on by the government of Iraq in…

Oil Riches Fuel Heated Dispute Between Venezuela and Guyana

Mar 04, 2024 at 07:58 | Matthew Smith

Squabbling between Venezuela and South America’s newest oil-producing nation Guyana over the resource-rich Essequibo region is heating up once again. The more than century-long quarrel centers on Venezuela’s…

U.S. Oil Drilling Gets Another Bump As WTI Soars To $80

Mar 01, 2024 at 12:21 | Julianne Geiger

The total number of active drilling rigs for oil and gas in the United States rose this week, according to new data that Baker Hughes published on Friday. The total…

WTI Soars Past $80 per Barrel as Oil Market Tightens

Mar 01, 2024 at 09:59 | Julianne Geiger

The price of a WTI barrel soared to heights not seen since November as the market braces for an OPEC+ decision on oil production levels in April…

Exxon Threatens to Derail Chevron's Acquisition of Hess

Mar 01, 2024 at 08:49 | ZeroHedge

Exxon's challenge of Chevron's acquisition of Hess could result in a windfall for Exxon shareholders, a new report from Reuters speculates. 

Offshore Oil Discoveries Thrive

Feb 29, 2024 at 08:18 | Irina Slav

Analysts and energy industry executives are sounding the alarm about underinvestments in oil and gas exploration. This has been going on for years, and it is a recipe for shortages…

Oil Majors Dive Into Deepwater Projects Despite Tight Budgets

Feb 29, 2024 at 07:43 | Rystad Energy

Oil and gas upstream majors — ExxonMobil, Shell, Chevron, BP, TotalEnergies and Eni — will continue to exercise caution in exploration spending this year, with drilling activity poised…

Oil Workers Fired As Strike Rages On in Kazakhstan

Feb 29, 2024 at 07:24 | Eurasianet

An oil services company in western Kazakhstan whose operations have been hampered by a strike that began in December has escalated the standoff by announcing that it will…

EIA Confirms Moderate Crude Build, Products Draw

Feb 28, 2024 at 09:36 | Irina Slav

Crude oil prices went lower today, after the U.S. Energy Information Administration reported an estimated inventory increase of 4.2 million barrels for the week to February 23. This 

Short Sellers in Trouble As Physical Oil Market Defies Data

Feb 27, 2024 at 08:54 | ZeroHedge

Something odd is taking place in the oil market. While on one hand "data" dissembled by Biden's Dept of Energy and specifically its statistical arm, the Energy Information…

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