Tag Archives: World Oil

Russia’s sanctioned Arctic LNG 2 project raised production to record levels during the last days of June as the facility appears to have resumed loading cargoes. Natural gas output at the Novatek PJSC-led facility averaged 14 million cubic meters a day on June 28 and June 29, according to a …

Total U.S. liquids production eked out a record-high of 20.83 million barrels a day (bpd) in April, up roughly 50,000 barrels from the previous month, according to the U.S. Energy Information Administration’s latest Petroleum Supply Monthly report released on Monday. The number, which includes crude oil and natural gas liquids, …

The number of rigs drilling for crude in the U.S. declined for the longest weekly streak in about five years as shale explorers shrugged off a recent jump in crude prices. The number fell by six to 432 and has fallen for nine consecutive weeks, the longest series of declines …

Oman is looking to sell a stake in natural gas assets valued at about $8 billion, according to people familiar with the plan, as the sultanate seeks to raise cash to shore up its state finances and fund investments. State-owned firm Energy Development Oman SAOC is seeking partners for a …

U.S. President Donald Trump revoked offshore oil and gas leasing bans that effectively blocked drilling in most U.S. coastal waters as he made sweeping moves his first hours in office to unleash American energy development. Trump’s move came as part of a broad assault on executive orders issued by former …

An average of 13.4 MMbpd of crude oil was produced in the United States during August 2024, a new record according to data from the U.S. Energy Information Administration Petroleum Supply Monthly. More crude oil was produced in the United States during August 2024 than during December 2023, when the …

The U.S. has imposed sanctions on seven liquefied natural gas carriers linked to Russia, including vessels believed to have loaded at its newest export facility in the Arctic region. LNG vessels included Pioneer and Asya Energy, which loaded the first two shipments from the Arctic LNG 2 project previously sanctioned …

Saudi Arabia is expected to put less money into the oil industry than initially predicted in its goal to invest $1 trillion in strategic sectors by the end of the decade. The Gulf kingdom will likely direct the majority of its funds, around 73% of total investments, into non-oil sectors …

OPEC+ ministers rejected oil’s bearish reaction to its decision to gradually boost crude production from October and predicted the market will eventually see that the group’s policy is correct. The alliance remains committed to the stability of the oil market and can react quickly to any changes, ministers from the …

The United Arab Emirates is on course to achieve its full oil capacity target more than a year earlier than expected. Abu Dhabi National Oil Co.(ADNOC) is likely to reach its 5 MMbpd goal by the end of next year or early 2026, ahead of the 2027 goal the company …