The oil market is on track for a record surplus that could lead to a sharp drop in prices. The International Energy Agency (IEA) predicts that oil inventories will grow by 2.96 million barrels per day in 2026, faster than the growth seen at the start of the coronavirus pandemic. Oil demand ... #Brazil #BrentOil #China #IEA #India #Oilmining #OilPrices #OPEC
Global oil and gas giants are increasing their exploration activities instead of investing in renewable energy. Major companies like BP, Chevron, ExxonMobil, Shell, and TotalEnergies are boosting their exploration efforts, anticipating that demand for fossil fuels will persist for decades. Company leaders have ... #Chevron #EnergyInvestments #ExxonMobil #gasmining #Oilmining #RenewableEnergy #Shell #TotalEnergies
Russian oil prices have fallen to a two-year low and are already 40% below the budget target. The Russian economy is showing a decline for the first time since 2022. The price of Russian oil in rubles has dropped below ₽4,000 per barrel for the first time in two years. This is approximately 40... #GDPrussia #Oilmining #OilPrices #OPEC #RussianEconomy #RussianOil
The EU is preparing its 17th package of sanctions targeting Russia, while the US is also threatening Moscow with increased pressure. In Kyiv, officials hope that the new restrictions will target key sectors of the Russian economy and serve as a crucial tool in applying pressure on Russia to achieve peace. US Republican Senator Lind... #DonaldTrump #EUsanctions #Gazprom #LindseyGraham #Oilmining #RussianEnergyResources #SanctionsAgainstRussia #SecondarySanctions
The US plans to lower oil prices with Saudi Arabia’s assistance. US Energy Secretary Chris Wright stated: “Under Trump’s presidency, we will likely see lower average energy prices in the next four years compared to the previous four years.” He hig... #OilDemand #Oilmining #OilPrices #OPEC #SaudiArabia #SaudiAramco
Ukraine is seeking an investor for oil and gas fields in western Ukraine, while Ukrnafta will develop a hydrocarbon field previously claimed by Chevron. The government has approved two competition proposals for two areas in western Ukrainian oil and gas fields in the area of Mezhyhirsk and Svichansk, located within the Lviv, Ivano-Frankivsk, and Chern... #Chevron #ForeignInvestor #investments #NadraOleska #Oilmining #Ukrnafta
OPEC+ increases its oil output as Russia sees a drop in hydrocarbon revenue. The OPEC+ countries – Saudi Arabia, Russia, Iraq, the UAE, Kuwait, Kazakhstan, Algeria, and Oman – have decided to raise oil production by 411,000 barrels per day in May. This decision is part of a gr... #Oilmining #OilPrices #OPEC #RussianOil
Russia is worried about a repeat of the USSR’s collapse due to declining oil prices. A few weeks before talks between US President Trump and Russian President Putin, the Russian Central Bank alerted the Kremlin to the possibility of a prolonged drop in oil prices, similar to the one t... #Iraq #Oilmining #OilPrices #OilProductionRussia #OPEC #RussianEconomy
Trump seeks to collapse oil prices and deprive Putin of resources to fund his war; Saudi Arabia and Russia have responded. Saudi Arabia’s Minister of Economy and Planning, Faisal Alibrahim, in response to US President Donald Trump’s call to reduce oil prices, noted that his country is focused on the oil market... #DonaldTrump #FaisalAlibrahim #Oilmining #OilPrices #Putin #RussianOil #SaudiArabia
Markets in the US and EU react differently to Trump’s new energy policy. On Monday, 47th US President Donald Trump declared an energy emergency, allowing energy extraction in places previously where it was previously prohibited. “We will drill. We will become a rich ... #DonaldTrump #Oilmining #OilPrices #USenergy #USoil
After the inauguration, Trump may move to eliminate Russian oil and gas industry earnings. The Russian Federation still makes a great deal of profit from oil and gas supply to EU countries, but this may change after Donald Trump takes office as the US president. Trump is anticipated to prov... #DonaldTrump #GasProduction #LNG #Oilmining #RussianEconomy #RussianLNG #USeconomy
Saudi Arabia threatens to collapse oil prices to $50, which will hit Russia’s profits. Saudi Arabia will collapse oil prices to $50 per barrel if OPEC+ member countries continue to violate production limits, the country’s oil minister, Abdelaziz bin Salman, warned during a confere... #Iraq #Kazakhstan #Oilmining #OilPrices #OPEC #RussianOil #SaudiArabia
Russia’s oil revenue faces further decline as Saudi Arabia plans to increase its oil production while Europe focuses on sanctions against Russian LNG. Saudi Arabia is ready to abandon its unofficial price target of $100 per barrel of oil as it prepares to increase production and protect market share, writes the FT. From December, Saudi Arabia will i... #Belgium #GreatBritain #Netherlands #Oilmining #RussianLNG #RussianOil #SanctionsAgainstRussia #SaudiArabia
Ukrnafta received applications from six foreign companies for the joint development of 15 fields. Ukraine’s largest oil and gas mining company, Ukrnafta, received a letter of intent from six companies regarding the joint development of 15 fields out of the 21 it had proposed for investment i... #DenysKudin #EnergyInvestments #Oilmining #OilProductionUkraine #Ukrnafta
Ukraine is looking for investors to restore oil wells. According to Ukrnafta, the company’s strategy is the restoration of exhausted wells with the help of modern technologies. There are currently 4,222 such wells, 2,100 are within the limits of Ukrnafta&... #InvestmentsinUkraine #Oilmining #OilProductionUkraine #OilWell #Ukrnafta
A Ukrainian oil and gas company is seeking investors to develop 21 fields. Ukrainian state oil and gas extracting company Ukrnafta is looking for partners for 10 fields in the west of Ukraine and 11 in the east. The company emphasizes that these are studied deposits with suf... #GasProductionUkraine #MiningInvestmentsUkraine #Oilmining #SerhiyKoretskyi #Ukrnafta
Oil prices accelerated, Brent – $78.75 per barrel. Oil prices accelerated throughout the day during the new year’s first auction, despite market concerns about falling demand due to the spread of the new strain of COVID-19, “Omicron”... #GasandOil #Oilmining #OilPrices2021
