Venezuela is expected to raise its crude oil production by less than 200,000 barrels per day (bpd) until the end of 2024 as years of underinvestment and mismanagement will hamper rapid output growth following the effective lifting of most oil sanctions on Venezuela for six months, the U.S. Energy Information Administration (EIA) said on Monday.
Algeria’s state oil and gas firm Sonatrach has plans for a $1 billion project for natural carbon storage through planting 420 million trees over 10 years, Algeria’s Ennahar TV reported on Monday, citing Energy Minister Mohamed Arkab as saying.
Demand for climate-warming fuels like coal, oil and natural gas will likely peak before 2030, evidence of the accelerating global shift to energy that doesn’t emit greenhouse gasses, according to the International Energy Agency (IEA)’s World Energy Outlook.
European supermajor Shell and state-controlled partner Ecopetrol have made a new natural gas discovery offshore Colombia.
The Kazakhstan government is set to reap almost five times the combined starting price of the five blocks offered in its latest internet auction for oil and gas assets, with strong competition from local players offering a total of 911 million tenge ($1.9 million).
The process of internationalizing the Chinese currency took another major step forward with the first crude oil transaction settled with the digital renminbi on Thursday.
The Minister of Oil and Gas Mohammed Oun called for the implementation of House of Representatives’ Resolution No. 15 of 2023 regarding stopping new procedures, contracts, or amendments to any previous measures regarding sovereign assets such as oil, gas, and gold.
The recent article on New Mexico selling out to the oil and gas industry (Journal, Oct. 15), is just not true. Ms. Evans is obviously unaware of the incredible changes that the oil and gas industry has made in green fracking.
Oil and gas stocks were among the top performers on the S&P 500, with four industry players taking their place in the top 10. The reason for this was a higher price for oil coupled with enhanced volatility. But this is just one aspect of the story.
Over the last year, the U.S. has been ramping up its natural gas production, with plans to develop several more LNG facilities in the south of the country.