Nasdaq HOUSTON – Chevron Corp (CVX.N) plans to add 65,000 barrels per day (bpd) of Venezuelan oil output by the end of 2024 through its first major drilling campaign in the nation since Washington allowed it to restore production clipped by U.S. sanctions, three people familiar with the matter said. The effort could help Venezuela keep lifting crude production and speed
Nasdaq LONDON – BP BP.L is ramping up oil exploration and drilling activity in frontier prospects as the energy giant tries to stem a decline in its oil and gas output after years of focusing on a shift to renewables to cut carbon emissions. The move comes as companies try to balance pressure to slash climate-warming pollution against a desire to
World Oil (Bloomberg) — Santos Ltd. has given the go-ahead for a $2.6 billion oil field project in Alaska to expand its production beyond the Asia-Pacific region. The producer and joint venture partner Repsol SA took a final investment decision on phase 1 of the Pikka development on Wednesday, Adelaide, South Australia-based Santos said in an earnings statement. The project
Reuters LONDON – The world will need a lot more oil from OPEC+ as global demand is on track to return to pre-pandemic levels at the end of next year, the International Energy Agency said on Friday, just a few weeks after saying long-term oil production must decline to reduce emissions. “OPEC+ needs to open the taps to keep the
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