OilProduction

Exxon Mobil Sets Higher Capital Spending for 2025 Amid Anticipated Global Oil Glut

12 days ago

In a significant move that reflects the current dynamics of the oil market, Exxon Mobil Corp has announced plans to boost its capital expenditures for 2025. The company's strategic decision is aimed at navigating a landscape expected to see a surplus in global oil supply, which could impact pricing and operational strategies.

Missing Oil Barrels Create Uncertainty in IEA's Bearish 2025 Oil Market Outlook

1 month ago

The International Energy Agency (IEA) is facing challenges in its bearish oil market forecast for 2025, largely due to the mysterious disappearance of millions of barrels of oil that have not been accounted for. This discrepancy raises significant questions regarding the IEA's analysis and projections for the global oil market.

Can the U.S. Transform Its Role as a Leading Oil Producer in the Fight Against Climate Change?

2 months ago

In a groundbreaking effort to reconcile its position as the world's foremost oil producer with global climate goals, the United States is taking proactive steps to lead in climate action. The initiative comes amidst increasing pressure from both international and domestic fronts to address the challenges posed by climate change while maintaining economic growth derived from fossil fuel production.

Storm Rafael Threatens Oil and Gas Production in Gulf of Mexico

2 months ago

As storm systems continue to brew in the Gulf of Mexico, energy companies are bracing for potential disruptions to oil and gas production due to the impending threat posed by Storm Rafael. This tropical storm, which has gained traction in recent days, has raised significant concerns among industry stakeholders as it could lead to evacuations and shut-ins of production facilities.

Big Oil Accelerates Production Amid OPEC's Supply Contemplation

2 months ago

In a significant shift within the energy landscape, major oil companies are ramping up their production capabilities just as OPEC weighs the potential for increasing oil supply. This juxtaposition is stirring debates across the industry and raising questions about global oil prices as escalating demand collides with altering production strategies.

Catalyst for Growth: Chevron Surprises Wall Street with Strong Earnings Driven by Permian Basin Production

2 months ago

Chevron Corporation has delivered a robust financial performance in its latest quarterly results, exceeding Wall Street expectations. The energy giant attributed its success primarily to heightened oil production from the Permian Basin, one of its key operational areas. This announcement has sparked renewed interest and confidence among investors, positioning Chevron as a formidable player in the competitive oil market.

CNOOC Reports Profit Surge Amid Expanded Oil Production Despite Demand Dip

2 months ago

In a recent financial disclosure, China National Offshore Oil Corporation (CNOOC) has announced a significant increase in its profits, buoyed by a robust expansion in oil output that has successfully counterbalanced a notable decline in global demand. The company’s results reflect a growing resilience in the face of fluctuating market conditions.

ExxonMobil Sets Ambitious Plans for Increased Production in Guyana's Stabroek Block

2 months ago

In a bold move to enhance its operations in South America, ExxonMobil has announced plans to significantly ramp up production at its Stabroek Block in Guyana. The multinational oil and gas corporation aims to capitalize on the lucrative prospects that the region presents, following a series of successful exploratory drilling operations that have revealed vast reserves of oil.

TotalEnergies and APA Corporation Approve $10.5 Billion Oil Production Project in Suriname

3 months ago

TotalEnergies SE and APA Corporation have just reached a major development milestone by sanctioning a $10.5 billion project to produce oil in Suriname. At the same time, the project constitutes one of the biggest investments ever sunk into the emergent oil industry of Suriname, opening completely new horizons both in economic prospects and energy production for the South American country.