Keywords: Oil production
Venezuela is exploring the possibility of leaving the Organization of the Petroleum Exporting Countries (OPEC) amid a growing rapprochement with the United States regarding its energy sector. However, no definitive decision has been announced at this stage. This potential exit comes as Caracas and Washington......
The OPEC+ alliance is expected to approve a modest increase in oil production quotas for September, according to sources familiar with the discussions, before temporarily suspending further monthly output increases as the group completes the rollback of its voluntary production cuts. The proposed adjustment......
French energy major TotalEnergies has warned that geopolitical tensions in the Middle East affected its hydrocarbon production during the second quarter, although the disruption proved less severe than initially anticipated. Despite the operational impact, the company expects stronger overall financial......
The United States' Strategic Petroleum Reserve (SPR) has declined to its lowest level since 1983, according to the latest figures released by the U.S. Energy Information Administration (EIA). The drop reflects a reduction of nearly three million barrels, leaving the emergency stockpile at approximately......
Venezuela has confirmed that its oil industry continues to operate normally despite the devastating twin earthquakes that struck the country, causing widespread destruction and claiming more than 4,500 lives. Speaking during a televised meeting with business leaders, acting President Delcy Rodríguez......
The OPEC+ alliance is expected to approve another increase in oil production targets, according to sources familiar with internal discussions, adding fresh supply to a market already under pressure from falling prices and shifting geopolitical conditions. The decision is expected to be formalised during......
Eni and its partners have approved a new development phase for the Baleine project in Ivory Coast, marking a major step forward in the expansion of one of the country’s most significant hydrocarbon discoveries. The project is being developed in partnership with Petroci and Vitol. The newly approved......
Pemex chief executive Víctor Rodríguez is facing growing uncertainty over his future as internal tensions, financial pressures, and operational setbacks continue to affect the struggling energy giant, according to sources familiar with the matter. The leadership of the Mexican state oil......
The OPEC+ alliance, which brings together major oil-producing countries, has held its first major meeting following the departure of the United Arab Emirates (UAE), a development that has raised questions about the group’s cohesion and future influence on global energy markets. The meeting included......
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