Yahoo Finance GEORGETOWN – Guyana’s efforts to use its natural gas resources to fuel a power plant that would slash the South American nation’s energy costs have snagged on construction delays and threaten to curtail the rising oil hotspot’s revenue this year by about $1 billion. The $1.9 billion gas-to-power project, Guyana’s biggest effort to capitalize on its energy bounty,
Oil Price Record crude oil production in the United States is serving a fresh blow to oil bulls and OPEC, just as the cartel was trying to push benchmarks higher by adopting deeper production cuts. The EIA reported last week that average daily production in September had remained unchanged from August when it hit the record-high rate of 13.24 million barrels.
Nasdaq HOUSTON – Top U.S. shale oil producers are raising output by pulling more from each well but lack the level of activity to add significant new volumes, a Reuters analysis of investor forecasts showed. The companies that a decade ago upended global oil and gas markets and turned the U.S. into an oil-export powerhouse in recent years have been
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,
Nasdaq LONDON – OPEC oil output has fallen only slightly in June as increases in Iraq and Nigeria limited the impact of cutbacks by others, despite a wider OPEC+ deal and voluntary cuts by several members to support the market, a Reuters survey found on Friday. The Organization of the Petroleum Exporting Countries has pumped 28.18 million barrels per day
Yahoo Finance Russia’s Deputy Energy Minister Pavel Sorokin held a call this month with Western analysts about country’s oil production, trying to convince them that Russia had reduced output as targeted, three sources with knowledge of the call told Reuters on Thursday. Russia has classified or delayed key statistics, including on oil production, since the start of what the Kremlin
Yahoo DUBAI/LONDON/RIYADH -Saudi Arabia and other OPEC+ states agreed to bring forward oil production rises to offset Russian output losses to ease surging oil prices and inflation and smooth the way for an ice-breaking visit to Riyadh by U.S. President Joe Biden. OPEC+ said it had agreed to boost output by 648,000 barrels per day (bpd) in July – or
Investing HOUSTON – British oil major BP (LON:BP) will continue betting on “lower carbon, more economical” offshore oil and gas exploration and production, a company executive said on Monday, warning that lack of investment could lead to global oil scarcity. Offshore operations allow better control of emissions, especially in the U.S. Gulf of Mexico, said Starlee Sykes, BP’s Senior Vice
Reuters The increase in OPEC’s oil output in April undershot the rise planned under a deal with allies, a Reuters survey found, as declines in Libya and Nigeria offset supply increases by Saudi Arabia and other top producers. The Organization of the Petroleum Exporting Countries (OPEC) pumped 28.58 million barrels per day (bpd) in April, the survey found, up 40,000
Nasdaq Russian oil and gas condensate production fell below 10 million barrels per day (bpd) on Monday to its lowest since July 2020, two sources familiar with data said on Tuesday, as sanctions and logistical constraints hamper trade. Sources said that Russia’s average oil output fell to 10.32 million bpd on April 1-11 from 11.01 million on average in March, a decline
Yahoo Finance BRUSSELS – European Union officials will hold talks in Vienna with OPEC representatives on Monday amid calls for the producer group to increase output and as the EU considers potential sanctions on Russian oil. OPEC has resisted calls by the United States and the International Energy Agency to pump more crude to cool prices which reached a 14-year
Nasdaq MOSCOW, Dec 28 – Russia is unlikely to hit its May target of pre-pandemic oil output levels due to a lack of spare production capacity but could do so later in the year, analysts and company sources said on Tuesday. Deputy Prime Minister Alexander Novak, in charge of Moscow’s ties with the OPEC+ group of oil producers, has said
