Russia's Lukoil talks to potential foreign buyers about its assets
Lukoil, Russia's second largest oil producer, said it was in talks on Friday with potential buyers for its foreign assets after sanctions were imposed by the UK and US last month and a deal made with Gunvor Trading House collapsed. The specific…
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 its new guidance on Wednesday at their investor day.
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 its investor day as part of an effort…
Occidental Petroleum predicts flat production and lower spending in 2026
Occidental Petroleum, an oil and gas company, said Tuesday that it expects a flat growth in production and lower spending than the current year levels by 2026 as crude prices fall. The U.S. shale oil producers are coping with a global oil crisis, as prices remain in the $60 per barrel range.
Russian Oil Exports Remain Stable Despite Recent Sanctions
Russia has maintained a steady pace of oil shipments from its sea ports at the start of November despite fresh U.S. sanctions imposed on the country's largest oil companies, traders said and LSEG data shows.The United States last week introduced sanctions against Russia's two biggest oil producers…
Oil Prices Rise Amidst Latest US Sanctions
Oil prices rose on Tuesday on the impact of the latest U.S. sanctions on Russian oil and optimism that the U.S. government shutdown could end soon, although oversupply concerns limited gains.Brent crude futures were up $1.14, or 1.78%, to $65.2 a barrel at 11:50 a.m. ET (1650 GMT). U.S.
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. Guyana is struggling to diversify its industry.
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. Canada's oil producers have…
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. has the largest oil production in the world…
Suncor Energy's strong production and refining margins helped it beat its quarterly profit goal
Suncor Energy, a Canadian integrated oil and natural gas company, beat its third-quarter profit expectations on Tuesday. Higher production and high refining margins offset lower prices. Refiners' demand and margins are improving after last year's slump.
SLB launches AI product to focus on digital sales growth
SLB, a technology company in the energy sector, launched on Monday a new artificial-intelligence tool to automate workflows and processes for companies looking to use AI to boost growth. SLB's Tela technology will be integrated into its portfolio of platforms and applications.
Jaber, UAE's Jaber, says that oil demand will remain above 100 million barrels per day (bpd) beyond 2040.
Sultan Al Jaber said that oil demand would remain at 100 million barrels a day or more beyond 2040. He also warned of headwinds for the near future. "Geopolitics continues to shape news and trade flows. The complexity is constant. Market sentiment is what moves the markets.
Analysts are looking at 2026 as a timeframe for predicting the growth of oil earnings.
Big Oil's third-quarter results may be boosted by marginally higher oil and refining prices, as well as stronger results in the refinery sector. However, some analysts are more concerned with how the global oil majors will set the stage for the year 2026 when they report their results next week.
Analysts are looking at 2026 as a timeframe for a rise in Big Oil earnings
Big Oil's third-quarter results may be boosted by marginally higher oil and refining prices, as well as stronger results in the refinery sector. However, some analysts are more concerned with how the global oil majors will set the stage for the year 2026 when they report their results next week.
Sources say that OPEC+ is leaning toward another small increase in oil production.
Four sources familiar with the discussions said that OPEC+ is likely to increase output modestly in December as it continues with its monthly increases aimed at regaining market share. After several years of reducing production to support the oil markets…
Urals Shipping Rates to India Rise in October
Freight rates for shipping Urals crude from Russia’s western ports to India rose sharply in October, driven by strong export volumes and mounting sanctions pressure, industry sources told Reuters.U.S. President Donald Trump on Wednesday imposed…
What are the main issues in India-U.S. Trade Talks?
U.S. president Donald Trump said that he spoke to Indian Prime Minister Narendra Modi this week about trade and that Modi assured him India would restrict its oil purchases from Russia. Indian refiners, who are major buyers of Russian oil, said…
Source: Indian refiners are reviewing Russian oil contracts following US sanctions
A source with first-hand knowledge of the situation said that Indian state refiners were reviewing their Russian oil trading documents to make sure no supplies would come directly from Rosneft or Lukoil following the U.S. sanctions against the companies. Donald Trump, the U.S.
Diamondback CEO says US crude production growth will slow down with $60/bbl.
The CEO of Diamondback Energy - one of the top oil producers in the United States - said that the growth of U.S. crude oil production will slow down if oil prices remain near $60 per barrel. Fewer drilling sites can be profitable at this level.
TASS reports that Russia's top oil executive said Asian oil demand is still growing.
Alexander Dyukov of Russian oil giant Gazprom said that the demand for crude oil in Asia continues to increase, while China, among other countries, has been replenishing its crude stocks, according to TASS. OPEC+ agreed this month to increase oil production in October…