Saudi Arabia is pushing OPEC+ to fast-track the group’s next oil production increase, moving up a supply hike originally scheduled for late 2026. OPEC+ has injected a lot of downside pricing risk into the oil markets this week, fuelling speculation that the second wave of voluntary cuts totalling 1.65 million b/d could be unwound much […]
The signing of the Power of Siberia 2 pipeline deal by the presidents of Russia and China was perhaps the biggest news to come out of the two leaders’ meeting earlier this month. It was also the deal that may very well make the new global natural gas flow order permanent, potentially interfering with President Trump’s energy dominance ambitions.
The project is Thailand’s first CCS initiative and is designed to reach a capture and storage capacity of up to 1 million tonnes per year of carbon dioxide in a phased development process scheduled to start in 2028. PTTEP estimates the project will command investments of around USD 320 million over five years.
Permex Petroleum Corporation said it has entered into an option agreement to purchase producing oil and natural gas wells from an ownership group that includes Navidad Petroleum and TMR Exploration.
OPEC+ leader Saudi Arabia wants the group to consider reviving more oil production ahead of its scheduled return at the end of next year amid a push to reclaim market share, people familiar with the matter said.
Monkey Island LNG CEO Greg Michaels said the selection followed extensive analysis of multiple technologies, adding, “The ConocoPhillips Optimized Cascade Process will enable Monkey Island LNG to provide customers with long-term, secure and competitively priced LNG supply.”
The Republic of the Congo has signed a $23 billion hydrocarbon deal with Chinese oil and gas company Wing Wah for the integrated development of the Banga Kayo, Holmoni and Cayo permits, aiming to raise national oil output to 200,000 bpd by 2030.
As Africa Oil Week (AOW) 2025 approaches, set to take place from September 15-18 in Accra, Ghana, industry leaders and experts are gearing up to discuss the continent’s rapidly evolving oil and gas landscape.
California regulators fearing a dramatic drop in gasoline supply placed a five-year pause on Gov. Gavin Newsom’s penalty on oil industry profits Aug. 29. The decision is a blow to Newsom’s legislation aimed at penalizing the oil industry for allegedly driving up the state’s gas prices in 2022. California Energy Commission Vice Chair Siva Gunda said the […]
U.S. oil and gas giant, Exxon Mobil (NYSE:XOM), has predicted that we will fall far short of the global energy sector’s net zero goals, thanks to high energy costs and surging coal demand. In its newly published Global Outlook, Exxon has forecast that the planet will only be able to cut emissions by 25% by 2050, nowhere near the two-thirds reduction required to meet IPCC goals.