The Iraqi government awarded exploration and development rights for five additional oil and gas fields to Chinese companies on Sunday, May 12, 2024. This brings the total number of licenses …
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Canadian pipeline company Pembina Pipeline Corp (Pembina) is throwing cold water on the idea of investing in the newly expanded Trans Mountain pipeline (TMX). The company’s chief financial officer, Cameron …
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The Organization of the Petroleum Exporting Countries (OPEC) is shifting its focus in oil market reporting. Instead of estimating demand for its own crude oil production, OPEC will now prioritize …
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U.S. gasoline and diesel demand have plunged to their lowest seasonal levels since the 2020 pandemic, according to new data. This slump is squeezing refining margins, threatening to disrupt two …
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Saudi Aramco is maintaining its $31 billion dividend payout despite a decline in profits. This decision highlights the challenges and opportunities for the kingdom’s economic diversification plans, which include potential …
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Energy giant Shell has announced its decision to exit South Africa’s downstream market, following a comprehensive review of its global operations. The move comes after more than a century of …
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The oil and gas industry is witnessing a resurgence in deepwater exploration driven by factors such as new discoveries, technological innovations, and lower carbon footprints compared to other oil sources.
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Nigeria’s oil regulator proposes a faster exit for oil majors from onshore fields, but only if they take responsibility for cleaning up environmental spills. This plan aims to balance speeding …
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The FTC approves the Exxon-Pioneer deal but blocks former Pioneer CEO from joining Exxon’s board due to accusations of colluding with OPEC to raise oil prices. Lawmakers raise concerns about …
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Canada’s long-delayed Trans Mountain pipeline, a controversial project that expands the country’s oil export capacity, has begun operations. The project is expected to boost the economy but raises environmental concerns.