The world’s top crude exporter, Saudi Arabia, shipped the lowest volumes of oil in June for ten months as Saudi domestic consumption grew and Russia continued to take market share from the Kingdom in key Asian export destinations.
Kazakhstan plans by September 2025 to offset gradually the excess volumes of oil produced in the first half of the year under the OPEC+ deal, the country’s Energy Ministry said.
In the ever-evolving landscape of global energy, the oil and gas industry stands as a cornerstone, affecting everything from the oil and natural gas corporation share price to global geopolitics. Despite the rise of renewable energy sources, oil and gas remain critical to meeting the world’s energy demands, driving the need for continuous drilling, refining, and innovation. As prices fluctuate and the push for sustainability intensifies, the industry faces challenges and opportunities in equal measure. This foundational sector not only fuels vehicles and powers industries but also significantly impacts economies and the labor market, offering numerous oil and gas jobs worldwide.
Oil prices slid on Monday after rising for four weeks, as the prospect of a ceasefire deal in Gaza eased geopolitical tensions in the Middle East, while investors assessed potential disruption to U.S. energy supplies from Tropical Storm Beryl.
Opec+ crude output by members subject to cuts fell for a third straight month in June, as lower Russian production offset rises from some serial overproducers.
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Tullow Ghana Limited (“TGL”) has announced key changes to its leadership team.
After four years as managing director in Ghana, Wissam Al-Monthiry, will be leaving the company at the end of July 2024, to pursue a new career opportunity.
British supermajor remains within the initially guided ranges despite lowered outlook for oil and gas demand growth this year
The Israeli government has approved plans to more than double the country’s natural gas exports and expand production at the giant Leviathan Gas Field in a bid to improve energy security and strengthen diplomatic ties. Energy Minister Eli Cohen has given the greenlight for the export of an additional 118 billion cubic meters (bcm) of natural gas from the east Mediterranean reserves, more than double the 105 bcm previously approved.
Brent crude soared to $87.50 per barrel on July 4th for the first time since mid-April, holding firm as a flurry of bullish news supports crude prices in early July. The surge was driven by oil supply threats from Hurricane Beryl and a bullish oil inventory report from the EIA.