Goldman Sachs has provided estimates that a proposed 10% U.S. oil tariff could cost foreign producers $10 billion per year, with Canadian and Latin American heavy crude producers heavily reliant on U.S. refiners due to limited alternative buyers and processing capabilities.
Natural gas prices have jumped in recent weeks in all major consuming markets, including in the United States, where prices have soared by more than 160% from this time last year.
Iraq remains fully committed to its pledges in the OPEC+ agreement as the restart of oil exports from the semi-autonomous Iraqi region of Kurdistan appears imminent.
Some believe that “Big Oil” should be held financially accountable for climate-related disasters, such as California’s wildfires. Their rationale? Major oil and gas companies are profitable and have contributed significantly to atmospheric carbon emissions.
Spot market gas prices around the world have doubled over the last twelve months as reported inventories in all the major consuming regions have fallen to multi-year lows, signalling the refill season will be much tougher in 2025.
Esso Australia Resources, a subsidiary of ExxonMobil Australia, will invest nearly USD 200 million in the Kipper 1B Project to bring additional gas supply on line from the Gippsland Basin, the company said on Monday.
Shearwater GeoServices has been awarded a contract by ExxonMobil Guyana to conduct a deepwater 4D ocean bottom node (OBN) reservoir surveillance programme offshore Guyana, Shearwater announced on Monday.
Estimated resource volumes on the Norwegian continental shelf rose 36 million standard cubic meters of oil equivalent (scmoe) to 15.61 billion scmoe – before accounting for production – as of year-end 2024, Norway’s upstream regulator has reported.
In a statement posted on its website recently, OPEC said it “welcomes the decision approved … by the National Energy Council of the Federative Republic of Brazil (CNPE) that formally paves the way for the participation of Brazil as a Member of the Charter of Cooperation (CoC) between oil producing countries”.
Innovex International announced the signing of a strategic frame agreement with SLB OneSubsea for the supply of subsea wellhead systems.