Each year, the Statistical Review of World Energy offers important insights into global energy trends. Now published by the Energy Institute in collaboration with KPMG and Kearney, the 2025 edition—reflecting full-year 2024 data—reveals that global oil production and consumption remained relatively steady, but there are meaningful shifts underway.
The broad view of the US President Donald Trump’s first administration as exclusively told to OilPrice.com at the time by a senior legal figure in that team was: “We’re not going to put up with any more crap from the Saudis.”
The Middle East is on track to surpass Asia to become the world’s second-largest gas producer in 2025, ranking only behind North America, according to Rystad Energy research and analysis.
Freight rates for Russian Urals crude from Baltic ports to India have dipped again in July, falling to $5.0–$5.3 million per Aframax shipment—down from $5.5–$5.7 million in June—as more tankers become available.
Expro has been awarded a major three-year contract by Woodside Energy in support of the Trion deepwater oil and gas development offshore Mexico.
Falcon Oil & Gas Ltd. has completed successful flow-rate tests and commenced its 2025 drilling campaign in Australia’s Beetaloo sub-basin, the company announced Monday.
Oil fell as U.S. President Donald Trump reignited his global trade war, while his latest plan to pressure Russia into a ceasefire with Ukraine didn’t include new measures aimed directly at hindering Moscow’s energy exports.
Tullow Oil Plc and Kenya’s Gulf Energy Ltd. have secured an extension to submit a development plan for fields in Kenya, a crucial step to completing a sale of the assets.
The agreement extends the licence to 2037, supports the further development of the block’s remaining resources and prolongs the production and design life of the Kizomba A, Kizomba B, Mondo and Saxi-Batuque FPSOs.
Since the Russian invasion of Ukraine in February 2022, the European Union has been working to decrease its dependence on Russian energy. The EU responded to Russia’s invasion by introducing sanctions on a range of energy products, including oil and gas, which it has gradually strengthened over the last three years as the region has reduced its reliance on Russian energy.