As the global oil market eagerly anticipates the upcoming OPEC(+) production decision—a potential shift in the current production cut strategy—most eyes are on Saudi Arabia or Aramco leaders. However, there's a new player in town, already hinting at a dramatic strategy change without OPEC's approval. Sources in Abu Dhabi suggest the Emirate is no longer...

Four expatriate workers lost their lives, and two others sustained injuries in a recent drone attack on the Khor Mor gas field in Iraq's Kurdistan region. This attack, reported by an advisor to the Iraqi Kurdish Prime Minister and a senior Kurdish political source, has also resulted in the suspension of production at the site. The ramifications of the...

ExxonMobil continues to expect that the U.S. antitrust authority will give the green light to its proposed $60-billion all-stock acquisition of Pioneer Natural Resources by the end of the second quarter, Exxon’s chief financial officer Kathy Mikells told Bloomberg in an interview on Friday. Exxon said in its Q1 earnings release today that it expects...

TotalEnergies CEO, Patrick Pouyanne, disclosed plans for a potential New York listing during an analyst briefing on Friday, citing the desire to attract a larger share of U.S. investors. With 47% of institutional shareholders and 39% of global investors based in the United States, TotalEnergies (TTEF.PA) aims to strategically position itself within...

Russian oil production has remained strong despite sanctions imposed by Western countries in the wake of Russia’s invasion of Ukraine. The country’s gas and liquefied natural gas (LNG) industries, on the other hand, have suffered due to limited pipeline infrastructure and reliance on Western companies. Rystad Energy expects Russian piped gas to China...

Chevron Corporation (NYSE: CVX) booked slightly higher earnings for the first quarter than analysts had expected, thanks to higher oil and gas production that offset part of the weaker refined product margins and low natural gas prices. Chevron reported on Friday earnings of $5.5 billion, or $2.97 per share, for the first quarter of 2024, down from...