News of a blockbuster oil acquisition by Exxon Mobil suggests more focused consolidation to come in the global energy sector, experts said Wednesday, with one analyst suggesting the trend could drive oil prices down in the long run.
Police in west Norway have increased security measures and patrols at and around oil and gas infrastructure, after the suspected sabotage of the gas pipeline between Finland and Estonia in the Baltic Sea, a police representative told Norwegian daily Bergensavisen (BA).
Oil prices have been buoyed by the Hamas attack on Israel, with a heightened geopolitical risk premium in markets and growing concerns that the U.S. will double efforts to stem Iranian oil flows. Despite the price rise, uncertainty remains in oil markets as to exactly how supply and demand will be influenced.
Shares of Occidental Petroleum Corp. (NYSE:OXY) continued their upward trend on Monday, closing at $64.18. Despite this increase, the stock’s price remains below its year-high. The trading day saw an impressive volume of 16.8 million shares changing hands, surpassing the company’s average trading volu
The most effective way to bring Africa’s oil and gas resources to market is through a quick, efficient partnership approach – as the West African nation has proved.
The Federal Government, on Monday, unveiled seven additional draft regulations to improve operational and regulatory efficiency in the upstream arm of Nigeria’s oil and gas sector.
Chevron said Monday that it had shut down a natural gas field off the coast of Israel at the behest of local officials, two days after Hamas militants launched their deadly assault on the country.
Given the enormous ground that the U.S. literally and metaphorically lost in the Middle East in recent years, any strategy it attempted to regain some or all its previous influence across the region had to be clever, concerted, and multi-layered, and so it is transpiring to be.
In its annual World Oil Outlook report released on Oct. 9, 2023, the Organization of the Petroleum Exporting Countries (OPEC) projects global oil demand to reach 110.2 million b/d in 2028, up 10.6 million b/d compared with 2022.
Ukraine’s natural gas reserves stood at over 15.7 billion cubic meters of national gas as of last week