Saturday, January 25, 2025
Oil majors expect Permian production growth to slow- oil and gas 360- oil and gas 360

Oil majors expect Permian production growth to slow

Oil Price Two Big Oil majors have said they expect oil production in the Permian to rise by less than they had initially planned this year, suggesting industry problems are indeed serious enough to hold back production growth in the most prolific shale play in the United States.   In their third-quarter reports, Chevron and Exxon both revised down their planned output from the

OPEC raises long-term oil demand view, calls for investment- oil and gas 360

OPEC raises long-term oil demand view, calls for investment

US News ABU DHABI  -OPEC raised its forecasts for world oil demand in the medium-and longer-term in an annual outlook released on Monday and said $12.1 trillion of investment is needed to meet this demand despite the energy transition.   The view from the Organization of the Petroleum Exporting Countries, in its 2022 World Oil Outlook, contrasts with that of

Eni CEO: Europe will have to rely on U.S. oil to replace Russian supply- oil and gas 360

Eni CEO: Europe will have to rely on U.S. oil to replace Russian supply

Oil Price Europe is set to increase its reliance on oil imports from the United States after the EU embargo on Russian seaborne crude imports enters into force in early December, Claudio Descalzi, chief executive of Italy’s energy group Eni, told Bloomberg in an interview on Monday. The embargo on Russian crude imported by sea kicks in on December 5. Supply to