The sales commission for three prominent oil companies—Jamuna Oil Limited, Meghna Petroleum Limited, and Padma Oil Limited—operating under the Bangladesh Petroleum Corporation (BPC) has been raised.
Bangladesh on Sunday announced an international bid round for the exploration of oil and natural gas in 24 blocks in the Bay of Bengal under a new Production Sharing Contract (PSC) to enhance energy production.
Non-OPEC production growth set to outstrip OPEC output growth: S&P Global
Non-OPEC+ oil finding new markets traditionally controlled by the Middle East
South Korea, Taiwan appetite for US crude robust; India’s Russian crude buying intact
As major discovery comes to light
Italy’s oil and gas giant Eni, has made a new significant hydrocarbon discovery in block CI-205 off the coast of Côte d’Ivoire, West Africa.
Africa’s biggest producer is trying to halt a flight of investment capital from its onshore fields by oil majors fleeing assets prone to spills caused by attacks including sabotage and vandalism
Brazilian state-controlled company Petrobras saw earnings down in the final quarter of 2023, as results were affected by the depreciation of Brent crude prices and lower oil products margins.
Kuwait Petroleum Corporation CEO Al-Sabah: Global oil demand looks robust.
Al-Sabah: U.S. shale production has helped meet part of the recent growth in world oil consumption.
As part of the voluntary OPEC+ cuts, Kuwait has pledged to voluntarily reduce its crude oil production by 135,000 bpd.
For 2023, the supermajors booked smaller profits, although in absolute terms, the figures were yet again quite impressive.
Several oil majors beat expectations despite reporting smaller overall profits in 2023 compared to 2022.
The combined profits of Big Oil came in at around $107.5 billion last year
Saudi Arabia’s government transferred a further $164 billion stake in Aramco to the Public Investment Fund, a move aimed at bolstering cashflow at the state-backed investor that’s ramping up spending on huge local projects.
The Tamar offshore gas field situated in the Levantine basin off the coast of Israel commenced production in 2013.