(Oil Price) – Winter storm Fern has slashed U.S. oil and gas production as operators curtailed output amid the big freeze. Over the weekend, the storm led to producers losing up to 2 million barrels per day (bpd) of oil production, or about 15% of total U.S. oil output, according to estimates by analysts and traders cited by Reuters. According to estimates by
(BOE Report) – Kazakhstan’s energy ministry said on Friday that it had held talks on energy cooperation with the U.S. Department of Energy and the U.S. embassy in the Central Asian country, which is a major energy producer, accounting for around 2% of daily oil supply. In a statement posted on Telegram, the ministry said that the two sides had
(Oil Price)– Petrobras will be paying higher dividends for the third quarter compared to the second quarter as production and earnings jumped sequentially, the Brazilian state-owned oil giant said. Petrobras booked a net income of $6 billion for the third quarter, up by 2.7% on the year and a 27.3% jump on the quarter, despite the decline in oil prices. Higher production
(Investing.com) – Natural gas prices could surge to $5 per million British thermal units in 2026 as demand rises and supply remains constrained, Morgan Stanley said in a new report assessing winter market scenarios. The bank forecast that U.S. gas storage levels will exit October at around 3.97 trillion cubic feet, roughly 5% above normal, but expects inventories to tighten sharply in the
(World Oil)- MariEnergies has announced an oil discovery at its Shawal-1 exploration well, located within the Mari Development and Production Lease (Mari D&PL) in Sindh Province, Pakistan. The company operates the block with a 100% working interest. The Shawal-1 well was spudded on Jan. 27, 2024, and drilled to a total depth of 1,136 m in the Ghazij Formation. Well
(Investing) – LONDON -World oil supply is expected to closely match demand next year as the wider OPEC+ group increases production, an OPEC report showed on Monday, marking a change from last month’s outlook, which projected a supply shortfall in 2026. OPEC+ is adding more crude to the market after the Organization of the Petroleum Exporting Countries, Russia and other allies
(Oil Price) – Strong gas trading, higher upstream production and liquefaction volumes, and increased refining margins are expected to boost Shell’s third-quarter earnings, the supermajor said in a trading update on Tuesday. Shell said in its third quarter 2025 update note that trading and optimization in its Integrated Gas division is expected to be “significantly higher” for the third quarter compared
(World Oil)– Chevron, Anadarko, and investment fund Westlawn have formalized a new partnership to advance hydrocarbon exploration offshore Peru, marking a significant step in revitalizing the nation’s upstream sector. The three companies signed amended license agreements with Perupetro for Blocks Z-61, Z-62, and Z-63 in the Trujillo basin, an offshore area covering 6,018 km² some 50 nautical miles off the coasts of Lambayeque and La
(Investing) – LONDON – The decline in output from mature global oil and gas fields is accelerating amid greater reliance on shale and deep offshore resources, the International Energy Agency said on Tuesday, meaning companies need to invest more just to keep output flat. The IEA, which advises industrialised countries, is under fire from U.S. President Donald Trump’s administration for a
(Investing) – Oil prices declined on Monday, but pared back some earlier losses, after the OPEC+ oil group signaled over the weekend that it will further increase production in the coming months. The prospect of higher supplies and weakening demand weighed on crude, which has already been nursing steep losses so far in 2025. The declines put oil back in sight
BOE Report U.S. oil and gas production rebounded sharply in February after extensive disruption the previous month caused by freezing wells and other outages stemming from Winter Storm Heather in the middle of January. Nationwide crude and condensates output jumped by 0.6 million barrels per day (b/d) in February reversing a decline of 0.7 million b/d in January, according to
BOE Report Oil and gas production in Texas, Louisiana and New Mexico decreased in the first quarter of 2024, the Federal Reserve Bank of Dallas said on Wednesday in its quarterly survey of energy activity. The survey of executives at 147 energy firms suggested a small decline in production. A natural gas production index also turned negative and oilfield services
