Monday, February 24, 2025
Russia on course to drill record number of oil wells despite sanctions and cuts- oil and gas 360

Russia on course to drill record number of oil wells despite sanctions and cuts

Oil Price Russian oil producers accelerated the drilling of production wells in the first half of this year despite the Western sanctions and Moscow’s pledge to reduce output by the end of the year and cut exports in August, data seen by Bloomberg showed on Monday.   Russian exploration and production companies drilled more overall length of production wells in the first

Oil prices set for largest monthly gain since January 2022- oil and gas 360

Oil prices set for largest monthly gain since January 2022

Oil Price Oil prices were poised early on Monday to end July trading with the biggest monthly gain since January 2022, buoyed by tightening supply, expectations of a record demand, slower inflation in the U.S., and a still resilient American economy. As of Asian trading on Monday, both benchmarks were trading flat after another week of gains last week. The U.S. benchmark

Exxon, Chevron to grow Permian basin production by over 2x rate of rivals- oil and gas 360

Exxon, Chevron to grow Permian basin production by over 2x rate of rivals

World Oil (Bloomberg) – ExxonMobil Corp. and Chevron Corp. are both on course to grow production from the Permian basin by 10% this year, more than double the rate of their smaller rivals. Exxon produced about 620,000 bpd in the second quarter from the world’s largest shale basin, which straddles Texas and New Mexico, while Chevron’s output increased to 772,000

OPEC oil output falls on Saudi cut and Nigerian outage, Reuters survey finds- oil and gas 360

OPEC oil output falls on Saudi cut and Nigerian outage, Reuters survey finds

Nasdaq LONDON – OPEC oil output has fallen in July after Saudi Arabia made an additional voluntary cut as part of the OPEC+ producer group’s latest agreement to support the market and an outage curbed Nigerian supply, a Reuters survey found on Monday. The Organization of the Petroleum Exporting Countries has pumped 27.34 million barrels per day (bpd) this month,

US LNG feed gas at record high in first half as Freeport restarts- oil and gas 360

US LNG feed gas at record high in first half as Freeport restarts

Nasdaq U.S. liquefied natural gas (LNG) export facilities brought in a record amount of natural gas in the first six months of this year after the Freeport LNG terminal returned to service, the U.S. Energy Information Administration (EIA) said on Monday. Natural gas delivered by pipeline to LNG export facilities, called LNG feed gas, averaged 12.8 billion cubic feet per