In its new medium-term report on oil that came out last week, the International Energy Agency predicted that oil demand will peak by 2028.
The China National Petroleum Corporation (CNPC), the government-owned parent company of PetroChina, and Cnooc (OTCPK: CEOHF) has kicked off ultra-deepwater exploratory drilling for oil and gas as the country looks to wean itself of foreign oil.
The Kurdistan Regional Government (KRG) has lost $2 billion from oil revenues due to the nearly three-month-long suspension of Kurdish crude oil exports via Turkey, according to estimates by Reuters.
China’s economic data for May disappointed, with growth in industrial output and retail sales slowing from April and youth unemployment hitting a record high.
Crude oil prices were moving higher in early trade on Thursday after tumbling on Wednesday afternoon.
British energy giant Shell is boosting its oil and gas production to book profits in the near term. It’s also building out electric vehicle charging stations across Asia.
According to the Organization of Petroleum Exporting Countries (OPEC), Nigeria has reclaimed its status as the continent’s top producer of crude oil for the month of May 2023.
ExxonMobil has denied allegations that it illegally lifted Butane at the Bonny River Offshore Terminal (BRT), an offshore terminal in Nigeria.
The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has written to the Nigerian military alleging the illegal lifting of petroleum products by ExxonMobil at Bonny Terminal, Rivers State.
Natural gas production in the Permian Basin hit a record in 2022, the Energy Information Administration reported, with the total at 21 billion cubic feet daily