oil projects Archives - Oil & Gas 360

ConocoPhillips seeks Venezuela compensation before resuming drilling

February 6, 2026

(World Oil) – ConocoPhillips Chief Executive Officer Ryan Lance’s priority in Venezuela is recouping billions his company is owed almost two decades after its oil projects were nationalized, rather than drilling new wells. Despite roughly $10 billion in favorable judgments from international arbitrators holding Venezuela liable for the seizures, the Houston oil giant’s efforts to recover all it’s owed have been

Job numbers rise in Alaska’s Arctic thanks to oil projects

April 8, 2025

(Oil Price) – The development of oil projects in Alaska’s North Slope and Arctic is boosting jobs growth in these areas more than the average for the state, according to the latest figures by the Alaska Department of Labor and Workforce Development. Job numbers jumped by 7% in the North Slope and Northwest Arctic regions last year, compared to broadly flat job numbers

New oil projects set to flood market in 2025

March 24, 2025

(Oil Price) – This year will see the highest amount of new oil supply in a decade, according to data analyzed by Raymond James that showed projected global additions of nearly 3 million barrels daily. But only if the price is right. Bloomberg reported the Raymond James figures, noting projects such as the giant Tengiz field in the Kazakh section of the Caspian

Bahrain oil projects gets U.S. funding despite climate agenda

March 15, 2024

Oil Price The U.S. Export-Import Bank approved a loan guarantee of $500 million for a Bahrain oil project despite opposition from Democrats noting the move would compromise the Biden administration’s hard line on climate change. Last month, the Export-Import Bank voted to notify Congress that it plans to underwrite a loan of more than $100 million to the borrower, Bahrain’s

The oil projects that environmentalists should support

March 31, 2023

Oil Price Last month, energy consultancy Wood Mackenzie came out with a warning: the world was running out of oil, but not just any oil. It was running out of oil that can be extracted with a low carbon footprint. The report shined the spotlight on an issue that tends to get overlooked in the daily discourse on climate change and the fossil

Exxon, Chevron to spend billions more on oil projects next year

December 8, 2022

Yahoo Finance HOUSTON – The two largest U.S. oil companies – Exxon Mobil Corp and Chevron Corp – disclosed plans to increase outlays on energy projects next year amid high oil demand and prices. While spending more, it will be less than half the combined $84 billion they spent in 2013, when oil prices often traded above $100 per

Iran oil projects reined in because of lack of funds: minister

February 18, 2020

Reuters DUBAI (Reuters) – Iran has had to reduce oil production projects because of a lack of funds and a drop in income from oil exports, Oil Minister Bijan Zanganeh said on Tuesday, according to the official IRNA news agency. “All attacks are against us and the income from oil exports has been reduced. We have reduced many production projects

Premium Content