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Barrels of oil
Oil Field
BW Energy Greenlights Maromba Field Development, Offshore Brazil
BW Energy has finalized its investment decision for the Maromba field development offshore Brazil, located 100 km off the coast in the Campos Basin. The project…
Crude Oil
Petrobras Posts Slight Drop In First-Quarter Oil and Gas Output
Petrobras, Brazil’s state-run oil company, reported its first-quarter production results, achieving a daily output of 2.77 million barrels of oil equivale…
Crude Oil
Chevron Must Return Venezuelan Oil Before Sanctions Deadline, Sources Say
Chevron Corp. has been directed to return nearly 1 million barrels of oil to Venezuela’s state-owned company, Petroleos de Venezuela SA (PDVSA), affecting…
Natural Gas
Validus Energy to Buy Natural Gas Producer 89 Energy III for $850 Million, Sources Say
Privately owned U.S. oil and gas producer Validus Energy has struck a deal to buy rival 89 Energy III for about $850 million, including debt, sources familiar w…
Crude Oil
Four Giant Oil & Gas Projects Line up for Start-up in 2025 Offshore Norway With More on the Cards
Norwegian oil and gas player Vår Energi has confirmed that four major projects are expected to be put into operation this year, enabling the firm’s …
Oil Pipeline
Enbridge Preps Pipeline Buildout for Trump-Driven Drilling Boom
Enbridge Inc. is devising plans to rapidly boost capacity on its US oil pipeline system if the incoming Trump administration succeeds in kicking off a drilling …
Oil Pipeline
Alberta Looks to Spur New Pipelines by Guaranteeing Barrels
Alberta’s government plans to directly dedicate barrels of oil for new pipeline projects in a bid to accelerate the expansion of production in the western…
Oil Field
Iraq’s Artawi Oil Field Gets Ready for a Massive Boom
A gas processing facility in Artawi, near Iraq’s southern port city of Basra. Photo: AFP/Hussein FalehBaghdad (IraqiNews.com) – The Artawi oil field…
Oil&Gas Drilling
48 Billion Boe Potential: Indonesia Offers Six More Blocks
Indonesia’s Ministry of Energy & Mineral Resources (ESDM) has unveiled the country’s second acreage offering of 2024.Six blocks are on the table wit…
Crude Oil
Ovintiv to Acquire Alberta Montney Assets for $2.4B
Ovintiv Inc. is acquiring Montney assets in Alberta from Paramount Resources Ltd. in an all-cash transaction valued at approximately $2.377 billion (CAD 3.325 b…
Oil & Gas Trade
Devon Raises 2024 Projected Production
United States producer Devon Energy Corp. has bumped up its output guidance for 2024 to between 811,000 and 830,000 barrels of oil equivalent a day (boed), supp…
Oil & Gas Supply
US Seeks Up To 3 Million Barrels Of Oil For Emergency Reserve
The U.S. on Monday said it is seeking up to 3 million barrels of oil for the Strategic Petroleum Reserve for delivery through May next year, a purchase that wou…
Oil & Gas Supply
US Seeks up to 6 Million Barrels of Oil for Strategic Reserve
An oil storage tank and crude oil pipeline equipment is seen during a tour by the Department of Energy at the Strategic Petroleum Reserve in Freeport, Texas, U.…
Oil&Gas Drilling
Indonesia Seeks 10 Million Barrels of Oil to Build First Reserve
Indonesia plans to set aside more than 10 million barrels of crude — about a 10th of global daily consumption — over the next decade as a buffer against energ…
Oil & Gas Trade
Oil Tycoon Emmanuel Fritz Paret Acquires 150 Wells, 140 Million Barrels of Oil in Kentucky Reserve Deal
Haitian-American oil tycoon Emmanuel Fritz Paret, CEO of Paret Mining LLC, has acquired a 10,000-acre oil reserve in Bowling Green, Kentucky. The acquisition in…
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