Chevron Corp., Houston, could increase its exploration capital budget by more than $500 million in 2027 as executives look to capitalize on strong commodity markets and build on an organizational shuffle that has centralized and accelerated decision-making. Speaking after Chevron reported its third-quarter results, vice-chairman Mark Nelson told analysts that the company’s opportunities globally are […]
The Petroleum Commission and Kosmos Energy Ghana have signed an agreement to facilitate the secondment of some engineers of the Commission to Kosmos Energy’s facility in Houston, Texas, in the United States. The initiative forms part of the Commission’s efforts to build a highly skilled and technically competent workforce to effectively regulate and support Ghana’s […]
The United States will use Venezuelan crude to refill the Strategic Petroleum Reserve, President Donald Trump said on Sunday on social media. Describing the move as a “Gift from Venezuela to the People of the United States,” President Trump said the “topping out” will begin soon, as quoted by Reuters. The Strategic Petroleum Reserve has been drawn […]
Oil prices jumped Wednesday after U.S. President Donald Trump declared that the ceasefire with Iran was effectively over and said the United States would “probably” launch additional military strikes, raising the prospect of renewed conflict in one of the world’s most important oil-producing regions.
Delfin Midstream Inc announced Wednesday a $5 billion investment to launch a Gulf Coast project that will be the United States’ first floating liquefied natural gas (FLNG) facility.
The American Petroleum Institute (API) estimated that crude oil inventories in the United States rose 6.10 million barrels in the week ending April 10. In the week prior, US crude oil inventories rose by 3.719 million barrels. Analysts had expected a 1.3 million barrel draw.
Iran has said that United States and Israeli strikes hit its South Pars natural gas field and associated infrastructure, Bloomberg reported on Wednesday.
United States Energy Secretary Chris Wright has directed Sable Offshore Corp to reactivate the Santa Ynez Unit (SYU) production facility and the associated pipeline system in California, citing security risks amid the disruption of oil shipping in the Strait of Hormuz.
U.S. natural gas production surged by an impressive 94%, and by 2009, oil production also turned a corner, ultimately soaring by 170%.
The U.S. presidential election promises to dominate global news coverage for the next 24 hours, and oil markets will be watching developments closely after both WTI and Brent banked gains from the OPEC+ decision on Monday.