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Schlumberger reported on Friday higher-than-expected profit for the second quarter as drilling activity rebounded in all markets, prompting the world’s largest oilfield service provider to raise its 2022 revenue and earnings outlook as “the multiyear upcycle continues to gain momentum.” Schlumberger booked earnings per share (EPS), excluding charges and credits, …

Chinese provincial-level governments approved the construction of coal-fired power plants with a total capacity of 8.63 gigawatts in the first quarter of 2022, nearly half the amount seen in all of 2021, research from Greenpeace East Asia’s Beijing office shows on Wednesday. While it is unclear whether such data is …

The U.S. crude oil imports from Iraq averaged 456 thousand barrels per day (bpd) last week, the Energy Information Administration (EIA) said on the weekend. In its weekly report on U.S. oil imports, EIA said that the U.S. net oil imports averaged 5.722 million bpd last week, up by 439 …

Syrian Minister of Oil and Mineral Resources described cooperation between the oil ministries of Iran and Syria as good, emphasizing that the two countries have high capacity to increase bilateral cooperation in oil sector. Bassam Tomeh made the remarks on Sunday on the sidelines of the 3rd International Exhibition of …

The CEO of Iran’s Petroleum Engineering and Development Company (PEDEC) said that the memorandum of understanding on investment signed between Iran and Russia was an example of a win-win deal. The implementation of the MoU could pave the way for positive developments in Iran’s oil and gas industry, Abouzar Sharifi …

The state-owned National Oil Corporation (NOC) of Libya on Saturday said that it plans to increase the daily oil production to 1.2 million barrels, Trend reports citing Xinhua. “The NOC is striving to increase production and bring it back to its normal rates of 1.2 million barrels per day in …

The federal government in Baghdad and the autonomous Kurdish region pledged Saturday to “increase dialogue” to ease a simmering oil dispute that has been playing out in the courts in recent months. The announcement came during a rare visit to the Iraqi capital by the Kurdish region’s prime minister. Masrour …

After President Vladimir Putin warned that Russian gas and oil sent to Europe could be further reduced and even stopped, the European Union this week called on member states to cut gas use by 15 percent by March. After a 10-day shutdown for annual maintenance, supplies via the Nord Stream …

Saudi Arabia expects to have freed up to 1 million barrels per day (bpd) of oil for exports by 2030 by cutting its direct oil use in power generation as it looks to replace petroleum liquids with gas-powered generation and renewables, Energy Intelligence reports, quoting industry sources. Saudi Arabia relies …

Afghanistan’s finance ministry announced Saturday that a contract was signed for the purchase of 350,000 tons of oil from neighboring Iran. The agreement was signed with an Iranian firm during an Afghan delegation’s visit to the neighboring country. The delegation included representatives of Afghanistan Oil and Gas Corporation, ministries of …