Chevron aims to increase cash flow by 10% annually through 2030 and cut costs even more.
Chevron announced on Wednesday its plans to increase oil and gas production and grow free cash flow annually by more than 10 percent through 2030, all while reducing costs and capital spending. Chevron announced…
IEA Predicts World Oil, Gas Demand Could Grow Until 2050
Global oil and gas demand could grow until 2050, the International Energy Agency said on Wednesday, departing from previous expectations of a speedy transition to cleaner fuels following U.S. criticism about…
Chevron targets 10% cash flow growth annually through 2030 and higher cost reduction
Chevron announced on Wednesday its plans to increase free cash flow and oil and gas production by over 10% per year through 2030, and reduce costs and capital expenditures. Chevron announced new guidance on…
UAE's Dana Gas signs an agreement to explore the revival of Syria gas fields
Dana Gas, based in the UAE, announced on Wednesday that it had signed an initial agreement with Syria's oil company for assessing the redevelopment of natural gas fields damaged by the 13-year-old civil war which made Syria dependent on imports from Iran.
TotalEnergies and Petronas get the green light for exploration in Guyana
TotalEnergies and Petronas are oil producers who have signed an agreement for five years with the Guyana government to explore shallow-water blocks, officials and executives of both companies said on Tuesday.
Argentina's YPF anticipates La Angostura Sur will produce 80,000 bpd over the next few years
Maximiliano W. Westen, Vice President of Strategy at YPF, said that the company expects to produce more than 80,000 barrels a day in its La Angostura Sur Block over the next few years. YPF executives told…
Trump proposes Alaska oil sale by 2026, finalizes sale of US Gulf oil leases
It was announced on Friday that the Trump administration would hold an auction to drill oil and gas in the U.S. Gulf of Mexico next month. They have also proposed another one in a waterway located in southern Alaska.
Canadian Natural Resources anticipates higher production and lower expenditure in 2026
Canadian Natural Resources forecast on Friday a modest increase in production by 2026, while reducing total capital expenditures from the levels of this year. This signals a continued focus and disciplined growth.
EOG, a producer of shale oil and gas, has topped profit forecasts as production increases
EOG Resources surpassed analysts' expectations for the third quarter profit on Thursday as higher production helped offset a decline in crude prices. Benchmark Brent crude dropped more than 13% from the previous quarter…
Canadian Natural Resources barely beats estimates for quarterly profits on record production
Canadian Natural Resources posted earnings for the quarter that were just a hair above analysts' expectations. Record oil and gas production offset the decline in crude price. Canadian Natural Resources and…
Atmos Energy expects to earn more in 2026 after a quarterly profit increase
Atmos Energy, the U.S. distributor of natural gas, forecast on Wednesday higher earnings for fiscal year 2026 after posting a 30% increase in its fourth-quarter profits. The utility is ramping up capital expenditures on pipeline safety and technology.
Texas Pacific misses quarterly core profit estimates on lower oil prices
Texas Pacific Land's adjusted core profit for the third quarter was below Wall Street expectations on Wednesday as lower oil prices offset gains from increased production. Brent crude prices averaged $68 per barrel in the third-quarter…
EIA: Oil producers must increase drilling to maintain production
The U.S. Energy Information Administration announced on Tuesday that oil and gas producers would need to increase drilling in order to maintain or increase production due to the rapid decline of existing wells. WHY IT MATTER The U.S.
Targa Resources beats profit estimates on record Permian volumes, boosts dividend
Targa Resources, the pipeline operator, beat expectations for its third-quarter core profit adjusted on Wednesday. This was boosted by record volumes of natural gas and liquids from the Permian Basin. The…
BP profits beat expectations but there is no news about Castrol sale
Oil major BP announced a smaller-than-expected fall in its third quarter underlying profit Tuesday, as a good performance across all divisions, led by refinery helped offset the impact from lower crude prices.
BP Beats Profit Expectations in Q3, No Update on Castrol Lubricants Sale
Oil major BP reported a smaller than expected fall in third-quarter underlying profit on Tuesday as a strong performance at all divisions led by refining helped to offset the impact of lower crude prices.However…
Eni and Petronas combine Indonesian and Malaysian assets in joint venture
Eni, the Italian energy company, and Petronas, Malaysia's state-owned energy company announced on Monday that they had signed an agreement for a joint venture to combine their upstream oil assets and gas assets located in Indonesia and Malaysia.
Baker Hughes reports that US oil and gas drillers have cut back on rigs in the US for the first time in 3 weeks.
Baker Hughes, a leading energy services company, said that the U.S. oil and gas companies have cut back on the number of rigs for the first time since three weeks. The number of oil and gas drilling rigs, a good indicator of future production…
EIA data show that US oil and gas production reached a new record high in August.
The Energy Information Administration reported on Friday that U.S. gas and oil production reached record levels in August despite fears of a market surplus. The record U.S. production of oil has been a major…
Exxon exceeds Q3 profit expectations on higher Guyana and Permian production
Exxon Mobil surpassed Wall Street expectations for the third quarter earnings on Friday. This was due to higher oil and natural gas production in Guyana, and the Permian basin, which helped offset lower oil prices.