Papua New Guinea's government has finally passed the legislation required to establish a new upstream oil and gas regulator ...

Barclays on Friday lowered its 2025 Brent oil price forecast by $9 per barrel to $74 per barrel, citing a softer demand ...

Global oil supply could exceed demand by around 600,000 barrels per day this year, the International Energy Agency said on ...

Heritage Energy says it plans to raise daily crude production from 45,000 barrels per day to 100,000 bpd in 2030.Heritage is the operator of OML 30 on behalf of Shoreline Natural Resources and NNPC ...

By Newsbase MENA syndicate Iran has struck new deposits of “unconventional” oil estimated to hold up to 5bn barrels ...

Distillate fuel inventories grew by 3.9 million barrels from the previous week. Crude oil imports increased by 98,000 bpd, averaging 5.9 million bpd. Over the past four weeks, crude oil imports ...

Brent crude oil futures settled up $1.51, or 2.1%, at $74.04 a barrel. US West Texas Intermediate crude oil futures rose $1.73, or 2.5%, to $70.35. The contracts had settled in the previous ...

Oil prices hit $80 a barrel on Thursday for the first time since November 2014 on concerns Iranian exports could fall, reducing supply in an already tightening market. Brent crude futures hit $80 ...

Previously the company had pledged to reduce output to 2m barrels of oil per day, but on Wednesday said it would target up to 2.5m barrels per day this decade – with an option to go higher by 2035.

BP will aim to produce up to 2.5m oil barrels per day - Stuart Conway The chief executive of BP has admitted the company “went too far, too fast” in its shift to net zero, adding a decision to ...

According to its latest short term energy outlook, the EIA sees U.S. crude oil production, including lease condensate, averaging 13.59 million barrels per day this year. Image by Pavel Muravev via ...