The U.S. Treasury Department gave Chevron Corporation, and oilfield service providers Halliburton, Schlumberger Limited, Baker Hughes, and Weatherford International, until the 1st of December 2020 to wind down their operations in Venezuela, thus further increasing pressure on Venezuelan President Nicolás Maduro to step down. U.S.-based energy company Chevron is among the largest international oil companies […]

The U.S. has sustained its position as the world’s leading oil producer, continuing a pace of 12.1 million barrels a day (mb/d), matching February 2019, according to the American Petroleum Institute’s latest monthly statistical report . In addition, petroleum demand in March was the strongest for that month in more than a decade at 20.7 mb/d. “Robust […]

The United States will drive global oil supply growth over the next five years due to the remarkable strength of its shale industry, triggering a rapid transformation of world oil markets, according to the International Energy Agency’s (IEA) annual oil market forecast. By the end of the forecast, oil exports from the United States will […]

A group of oil and gas companies have partnered to establish the first industry blockchain consortium in the United States. “Creating the OOC Oil & Gas Blockchain Consortium is a significant step toward establishing key blockchain standards, frameworks and capabilities for the oil and gas industry,” said Rebecca Hofmann, chairman of the board of directors. […]

YPF and Petronas have ratified the start of the massive development phase of the shale oil project that they are carrying out in the La Amarga Chica block, Neuquén province, Argentina. Located in western Argentina, the Vaca Muerta deposit is considered as having the world’s second-largest shale gas and fourth-largest shale oil deposits. Malaysia’s state-owned […]

INEOS announced a long-term supply agreement with SP Chemicals to deliver ethane from U.S. shale gas to China. The agreement, which will see U.S. ethane from shale gas shipped to China for the first time, will supply SP Chemicals with a long-term competitive supply of ethane for its industrial production. The deal will involve the […]

Despite current weakness in global energy markets and the slowdown in China’s growth, demand for energy will continue to grow over the next 20 years and beyond as the world economy expands and more energy is required to power the higher level of activity. According to the 2016 edition of the BP Energy Outlook, global […]

The chief executive officers of 10 of the world’s largest oil and gas companies, which together provide almost a fifth of all oil and gas production and supply nearly 10% of the world’s energy, declared their collective support for an effective climate change agreement to be reached at next month’s 21st session of the United […]

The energy landscape in Southeast Asia continues to shift as rising demand, constrained domestic production and energy security concerns lead to a greater role for coal, a sharp rise in the region’s dependence on oil imports and the reversal of its role as a major gas supplier to international markets, according to the World Energy […]

The deputy managing director of Iran’s National Petrochemical Industries Company, Mohammad-Hassan Peyvandi, said that Iran and South Africa are in talks to jointly develop gas-to-liquids (GTL) projects. Peyvandi said he was informed of South Africa’s willingness to contribute to the project in a recent meeting with Thembisile Majola, South Africa’s deputy energy minister. Meanwhile, South […]