Tag Archives: Oil Price

TotalEnergies expects its first-quarter oil and gas production to have increased by almost 4% on the year to the high end of the quarterly guidance range of 2.5 to 2.55 million barrels of oil equivalent per day (boe/d). The French supermajor, which reports full quarterly results on April 30, announced …

The European Union is looking for legal ways to tear long-term natural gas supply contracts with Russia’s Gazprom without having to pay sizable penalties, the Financial Times has reported, citing three officials from the European Commission as saying the leading option was declaring a force majeure. “If the whole idea …

The average price of India’s crude oil imports fell to below $70 per barrel this month, for the first time since 2021, as international benchmarks plunged amid trade and tariff uncertainty. India, which imports 88% of the crude it consumes, saw its average cost of crude oil imports plunge by …

Brazil’s oil industry watchdog has scheduled an auction for drilling rights in an area where environmental authorities have put up serious opposition to any drilling, Bloomberg has reported, noting Brazil’s state-owned energy major Petrobras has been unable to tap the resources in that area because of that opposition. The tender, …

Based on Moscow’s new energy plan, Russian crude oil production and exports are set to remain flat until 2050, and output is projected to settle at around 540 million metric tons by the end of this decade, crimped by U.S. and European Union sanctions, Bloomberg reported on Monday. In 2023, …

Last week, eight OPEC+ countries unveiled plans to advance their planned phase-out of voluntary oil output cuts by ramping up output by 411,000 barrels per day in May–equivalent to three monthly increments. The announcement of the accelerated unwinding clip comes at a time when U.S. President Donald Trump announced tariffs …

The United States utility-scale battery storage sector has been projected to grow dramatically in 2025, as renewable energy companies look for ways to make their clean energy operations more stable and reliable. However, the recent introduction of tariffs on countries worldwide by the Trump administration, with particularly high tariffs on …

European Union member states on Friday agreed to give more flexibility to the natural gas storage goals by expanding the period in which countries should have 90% full storage ahead of the winter and could deviate by up to 10% from the filling target. The EU supported the European Commission’s …

Shell Offshore, a subsidiary of Shell, has commenced production at Dover, a subsea tieback project linked to the Appomattox production hub in the Gulf of Mexico. The Dover development is expected to reach peak production of 20,000 barrels of oil equivalent per day (boepd), strengthening Shell’s leadership in deep-water operations. …

BP expects to post a weak natural gas trading result for the first quarter, as well as lower gas output, as the UK-based supermajor is resetting its strategy back to core oil and gas operations. Reported upstream production in the first quarter is expected to be lower compared to the …