Potential US government shutdown unlikely to quickly impact current oil, gas...
A US government shutdown is not likely to immediately impact the the nation’s oil and natural gas industry, but an extended halt to federal agencies’ operations could eventually impact future...
View ArticleAI boosts profitability in the permian basin
Barron’s Avi Salzman recently toured Chevron’s operations in the Permian Basin. Following the visit, he wrote about how artificial intelligence (AI) is revolutionizing the oil industry and could lift...
View ArticleVirtual reality revolutionizes training and operations in oil and gas...
Virtual reality (VR) primarily has applications around training across the oil and gas value chain, i.e., from rigs and pipelines to refineries. Industry leaders such as Shell, and ExxonMobil are using...
View ArticleOPEC: Most of what you pay at the pump is taxes
The world could not function without crude oil and its associated products. For consumers, it delivers gasoline, diesel and a host of other transportation fuels, and enables the development of...
View ArticleMiddle East Crude-Benchmark premiums stable
Middle East crude benchmark spot premiums Oman, Dubai and Murban were stable on Friday, after posting upward movements in recent weeks. Oil prices fell on worries about demand growth in 2025,...
View ArticleNorway oil, gas output falls in November, but beats forecast
Norway’s combined oil and gas production declined in November from the same month a year earlier but was still 2.6% higher than an official forecast, the Norwegian Offshore Directorate (NOD) said on...
View ArticleOil shutdown spells further chaos in ‘mafia state’ Libya
Libyan oil output rallied in November to 1.17 million b/d, according to S&P Global Commodity Insights estimates, the highest production figure since October 2022. But given the country’s volatile...
View ArticleAfrica’s refining resurgence on course despite margin risk
The threat of a permanent downswing in global refining margins has not stopped African refinery projects from progressing, as amplified energy security concerns have spurred new capacity additions....
View ArticleOil gains as cooling US inflation points to possible easing
Oil prices rose on Monday as lower-than-expected U.S. inflation data revived hopes for further policy easing, although the outlook for a supply surplus next year weighed on the market. Brent crude...
View ArticleMiddle East Crude-Benchmarks fall to three-week lows
Middle East crude benchmarks Oman, Dubai and Murban all dropped on Monday to a level of about a three-week low. Taiwan’s CPC bought three vessels or six million barrels of WTI Midland crude for March...
View ArticleOil prices stable on Monday as data offsets surplus concerns
Oil prices stabilised on Monday after losses last week as lower-than-expected U.S. inflation data offset investors’ concerns about a supply surplus next year. Brent crude futures were down by 38 cents,...
View ArticleNigeria steps up fight against illegal oil trade
Nigeria’s military and security forces have delivered a crushing blow to the shadowy illegal oil trade. By dismantling 56 bunkering sites, authorities are attempting to drain the lifeblood of this...
View ArticleOil market set to be in surplus despite OPEC+ action
2025 oil surplus Oil prices have come under a fair amount of pressure this year, with the market worried about demand and the surplus outlook for 2025. Even after a handful of OPEC+ members decided to...
View ArticleEquinor completes the 10 percent stake of Ørsted
Equinor has completed the acquisition of 10 percent of the shareholding in Ørsted A/S (“Ørsted”) as announced on 7 October 2024. Following approvals under applicable Foreign Direct Investment...
View ArticleAsian naphtha prices to stay under pressure amid poor margins, new Chinese...
The Asian naphtha market will continue to stay under pressure in 2025 on poor downstream margins amid several new capacities in China, market participants told S&P Global Commodity Insights, adding...
View ArticleIran’s oil fortunes take a hit from geopolitics
Iran has seen a sizeable increase in its crude output since 2022 when Russia invaded Ukraine and Western governments shifted their sanctions focus away from Tehran. But the election victory of Donald...
View ArticleOil prices rise in thin pre-Christmas trade
Oil prices rose on Tuesday, reversing the prior session’s losses, buoyed by a slightly positive market outlook for the short term, despite thin trade ahead of the Christmas holiday. Brent crude futures...
View ArticleMexico’s oil and gas output drops to lowest level all year in November
Mexico’s production of liquid hydrocarbon and natural gas in November fell to the lowest levels recorded all year and was well below last year’s averages, official numbers published by the regulator...
View ArticleMiddle East Crude-Dubai and Murban rise ahead of holiday
Middle East crude benchmarks Dubai and Murban rose on Tuesday from multi-week lows hit in the previous session, with some deals concluded ahead of the Christmas holiday. Spot premiums have gained this...
View ArticleOIL FUTURES: Crude rises on US crude drawdown expectations; market braces for...
Crude oil futures were higher in midmorning Asian trade Dec. 24 on expectations of a fifth straight drawdown in US crude inventories, while the Federal Reserve braces for a sweeping economic change...
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