Rextag

NOVEMBER 25, 2024

crude oil inventories grew by 545,000 barrels last week to reach 430.3 million barrels , defying analyst forecasts of an 800,000-barrel decline. Adding to the intrigue, oil held in the Strategic Petroleum Reserve (SPR) rose by 1.4 million barrels to 389.2 million barrels. million barrels to 389.2

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Valor

FEBRUARY 24, 2025

per barrel, while WTI dropped 28 cents to $70.12 per barrel, following a $2 decline on Friday. million barrels per day (bpd) in 2024 to 13.6 The terminal will load up to 1 million barrels per day onto the worlds largest tankers, boosting U.S. million barrels Summary : U.S. million barrels to 432.5

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Permian Basin Oil and Gas Magazine

MARCH 4, 2025

Crude oil exports by Pemex, Mexicos state-owned petroleum company managed and operated by the Mexican government, fell 44 percent in January 2025 compared to the same month last year to 532,404 barrels per day. Thats its lowest in decades, according to Reuters , as the company has admitted it is struggling with crude quality.

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Energy Central

DECEMBER 26, 2023

On November 30, 2023, OPEC (Organization of the Petroleum Exporting Countries) and its allies, collectively known as OPEC+, agreed to cut oil production by 1 million barrels per day (bpd) starting in January 2024. This decision was driven by several factors, but it might be helpful to consider OPEC’s motivations.

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Egypt Oil & Gas

MARCH 8, 2025

Agiba Petroleum, together with its shareholders, has successfully completed the fast-track development of the Iris Field, a major hydrocarbon asset in the Egyptian Western Desert. The discovery made in the Masajid Formation, a Late Cretaceous carbonate reservoir, marks a significant milestone in Agibas near-field exploration strategy.

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Iraq Business News: Oil & Gas

FEBRUARY 5, 2025

Al-Sudani has overseen the signing of an $800-million contract for the expansion of Al-Diwaniya Refinery , adding a 70,000 barrel-per-day (bpd) atmospheric distillation unit to raise total capacity to 90,000 bpd. It will also facilitate the Al-Shanafiyah power plant, secure petroleum product supplies, and generate employment.

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Rextag

DECEMBER 18, 2024

billion barrels of recoverable oil , a staggering prospect that set the stage for the U.S. million barrels of oil equivalent per day (boe/d) globally. BP (British Petroleum) Central to the success of the BTC Pipeline, which diversified Europes oil supply routes. million barrels of oil equivalent by 2005. shale revolution.

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Exprodat

JULY 25, 2024

Exprodat , the energy sector GIS specialist and Getech Group company, has released a new version of its popular Unconventionals Analyst software, which is used by petroleum operators and financial institutions to manage shale oil and gas projects and investments. At version 3.2, At version 3.2,

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The Energy Law

JULY 26, 2013

By Greg Johnson and Stephen Wiegand In a July 17, 2013 decision, the United States Court of Appeals for the Fifth Circuit vacated a $6 million dollar penalty levied under the Clean Water Act (“CWA”) against CITGO Petroleum Corporation (“CITGO”) and remanded the matter to the Western District of Louisiana for further consideration.

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Rextag

DECEMBER 23, 2024

This deal boosted Exxons daily output by over 700,000 barrels of oil equivalent per day (boe/d). Chevrons Purchase of Hess Corporation Value: $60 billion Date: September 30, 2024 Chevrons acquisition added Hesss assets in Guyanas Stabroek Block, a hotbed of oil discoveries with reserves exceeding 11 billion barrels.

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The Energy Law

MAY 26, 2016

District Court Judge Dee Drell (Western District, LA) recently denied a motion to alter or amend the Court’s judgment against CITGO Petroleum Corp.– CITGO Petroleum Corp., The EPA sought a penalty of $4,300 per barrel. CITGO Petroleum Corp., allowing an $81 million judgment against the oil company to stand. Year in Rev.

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Drillers

MARCH 24, 2020

That was formed in 1977 under the name National Nigeria Petroleum Company. billion barrels of proven oil reserves as well as 5.675 trillion cubic metres of natural gas, which explains why the supermajors are not too tired of their problems in Nigeria. Nigeria joined OPEC in 1971 before it even had its own state oil company.

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The Energy Law

JUNE 13, 2017

As a result of the collision, approximately 750 barrels of light crude oil discharged into the river. The statute is designed to promote quick, efficient cleanup and internalize costs within the petroleum industry. Following the spill, the U.S. Coast Guard designated Settoon the OPA Responsible Party.

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Energy Central

JANUARY 4, 2024

OilPrice: "Is it time to refill America's Strategic Petroleum Reserve?" " Near the end of 2021, President Bidens ordered the release of 50 M barrels of crude from the SPR when consumers felt battered by the price of gasoline, then another 130 M barrels the next spring. per gallon.

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Energy Central

MAY 10, 2022

President Biden announced in late March that he would release 1 million barrels of crude oil per day from the Strategic Petroleum Reserve (SPR) over a 180 day period, making it by far the largest release ever. Is this a wise move and will it achieve the objectives sought? Background: The origin of the U.S.

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Rextag

FEBRUARY 24, 2025

Occidental Petroleum & Ecopetrols Partnership: Occidental Petroleum (Oxy) continued to expand its Permian operations through a joint venture with Colombian oil company Ecopetrol. Exxon, Chevron, and Shell Are Betting on Carbon CaptureIs It the Future? oil and gas industry is experiencing one of its most transformative periods.

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Oil & Gas 360º

MARCH 10, 2025

Refer to Barrel of Oil Equivalency and Production & Product Type Information in this press release for additional disclosure. Leading Low Decline Light Oil Position in Saskatchewan : The combined company becomes the second largest producer in Saskatchewan with consolidated assets in west and southeast Saskatchewan.

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Valor

MARCH 10, 2025

per barrel and WTI dropping 40 cents to $66.64, marking WTIs seventh consecutive weekly lossthe longest streak since November 2023. Meanwhile, US crude production averaged 13.508 million barrels per day for the week ending February 28, 2025, with WTI trading at $67.17 per barrel (up 1.22%) and Brent at $70.41 energy industry.

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OilPrice

MARCH 11, 2025

.- US Energy Secretary Chris Wright announced that he plans to work with the Congress to cancel the mandated sales of 100 million barrels of strategic petroleum reserves in 2026-2031 to refill SPR stock.-

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Oil & Gas 360º

MARCH 13, 2025

a barrel at 10:25 a.m. West Texas Intermediate crude futures fell 39 cents, or 0.6%, to $67.29a barrel. million barrels, more than the 1.9 million-barrel draw expected by analysts, while distillate stocks also dropped more than anticipated, despite gains in crude stocks. [EIA/S] million barrels per day, expanding 1.7

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Oil & Gas 360º

MARCH 12, 2025

per barrel, while U.S. Elsewhere, the Organization of the Petroleum Exporting Countries backed its forecast for relatively solid growth in oil demand this year, noting that air and road travel would help drive consumption higher. By 11:00 ET (15:00 GMT), Brent futures had gained 1.8% Meanwhile, U.S.

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Oil & Gas 360º

MARCH 12, 2025

On Monday global Brent crude futures settled under $70 a barrel as investors worried a trade war would slow economic growth. The UAE is a member of the Organization of the Petroleum Exporting Countries. oil production to plateau by the end of this decade, an outlook echoed by Vicki Hollub, CEO of Occidental Petroleum Corp.

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Enverus

MARCH 7, 2025

British Petroleum Backs Away From Renewables The following blog is distilled from an interview on CBCs The Eyeopener, hosted by Loren McGinnis who interviewed Enverus Intelligence Researchs (EIR) very own Al Salazar. For context, global oil consumption averaged about 103 million barrels per day last year.

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Oil & Gas 360º

MARCH 11, 2025

(BOE Report) –CALGARY The Alberta government says Premier Danielle Smith has been in talks with a multinational oil and petrochemical player about selling two million barrels per month of province-owned heavy oil.

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Oil & Gas 360º

MARCH 5, 2025

a barrel by 1408 GMT. Meanwhile, the Organization of the Petroleum Exporting Countries and its allies including Russia, a group known as OPEC+, decided on Monday to increase output for the first time since 2022, further pressuring crude prices. a barrel by 1408 GMT. Brent futures fell $1.47, or 2.1%, to $69.57

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Oil & Gas 360º

MARCH 10, 2025

Trumps policies on trade and foreign policy have, however, threatened to drive up the cost of millions of barrels of oil that U.S. Crude prices hit a three-year low below $70 a barrel this week after the Organization of the Petroleum Exporting Countries and its allies (OPEC+) agreed to go ahead with a planned April output increase.

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Oil & Gas 360º

MARCH 7, 2025

Energy Secretary Chris Wright estimates it would take $20 billion and years to accomplish President Donald Trump’s goal of refilling the Strategic Petroleum Reserve to its maximum capacity, the Energy Department said on Friday. The estimated $20 billion would only be enough to buy about 301 million barrels of U.S.

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Crude Oil Futures

FEBRUARY 19, 2025

per barrel, Brent hit $76.94, and LNG surpassed $4 per million British thermal units (MMBtu)a threshold not crossed in months, despite the Northern Hemisphere emerging from winter. When OPEC+ rebuffed him, Mr Biden withdrew Patriot air defense systems from Saudi Arabiathen under Houthi attackand tapped the Strategic Petroleum Reserve (SPR).

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The Energy Law

OCTOBER 26, 2020

became “energy independent” and a net exporter of petroleum products in 2019. million barrels of oil and gas per day. But the oil and gas industry stands to be impacted regardless of the election outcome in November, and those impacts will have wide-reaching effects on the U.S. away from its reliance on fossil fuels.

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The Energy Law

OCTOBER 26, 2020

became “energy independent” and a net exporter of petroleum products in 2019. million barrels of oil and gas per day. But the oil and gas industry stands to be impacted regardless of the election outcome in November, and those impacts will have wide-reaching effects on the U.S. away from its reliance on fossil fuels.

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The Energy Law

OCTOBER 26, 2020

became “energy independent” and a net exporter of petroleum products in 2019. million barrels of oil and gas per day. But the oil and gas industry stands to be impacted regardless of the election outcome in November, and those impacts will have wide-reaching effects on the U.S. away from its reliance on fossil fuels.

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