Three numbers encapsulate the story of Saudi Aramco since its initial public offering (IPO) in December 2019. The first is that its net income for the second quarter (Q2) of this year was US$30.1 billion.
The U.S. shale patch, which accounts for most of the non-OPEC+ oil supply growth, is set to deliver stronger-than-anticipated production gains this year.
Earlier this month, the price of natural gas in Europe spiked by as much as 40% on the news that gas platform workers in Australia may launch industrial action.
Russian producers have been selling their crude oil to India at prices below the G7 price cap of $60 per barrel, but since shipping costs are not included in this price ceiling, Russia has been overcharging for freight costs and getting more revenue from oil trade, a Financial Times analysis showed this weekend.
Nigeria’s oil output could improve as Shell Petroleum Development Company (SPDC) says it has resumed loading on Nigeria’s Forcados crude oil after a months-long outage over a pipeline leak at the export terminal.
The global oil and gas industry’s contract value increased from $35.4 billion in Q1 2023 to $56.7 billion in Q2 2023 driven by major contracts in the Middle East, according to a new report by GlobalData.
U.S. oil and gas rigs are down by 14% over the last year, a showing of supplies tightening as oil prices climb higher as demand soars.
New data shows the oil and gas industry’s contract value saw a “significant” rise Q2 2023, mainly driven by work on Qatar’s North Field South (NFS) project.
The Association of the Petroleum Industry of Kurdistan, which represents companies including DNO, Genel Energy, Gulf Keystone Petroleum, HKN Energy and ShaMaran Petroleum, have called on Baghdad and Erbil governments to honor their contractual rights amid talks to draft a new oil and gas bill.
Nigeria’s crude oil output slumped to a three-month low data from the Nigeria Upstream Petroleum Regulatory Commission (NUPRC) and Organization of Petroleum Exporting Countries (OPEC) reveals.