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Chevron CEO sees no signs global economy is hitting a wall based on energy sales

Chevron CEO sees no signs global economy is hitting a wall based on energy sales

The global economy may be slowing down, but sales of energy and industrial products do not indicate that growth will come to a halt, according to Chevron Chairman and CEO Michael Wirth. Financial markets are under pressure this week following...

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BP CEO Bob Dudley sees solid oil demand growth despite fears over global economy

BP CEO Bob Dudley sees solid oil demand growth despite fears over global economy

BP is expecting solid growth in oil demand this year despite growing concerns about a global economic slowdown, CEO Bob Dudley said Tuesday. The British energy giant forecasts the world’s appetite for oil will grow by another 1.4 million...

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US oil and gas firms are ready to spend as confidence grows, survey says

US oil and gas firms are ready to spend as confidence grows, survey says

Executives in the U.S. oil and gas industry are said to be much more optimistic about growth in the sector, compared to last year. In its annual study, DNV GL, claimed that 85 percent of American executives questioned believed there were reasons...

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Energy body points to ‘gradual’ rebalancing of oil market

Energy body points to ‘gradual’ rebalancing of oil market

The rebalancing of the oil market will be “gradual”, the International Energy Agency said on Friday, as production cuts by Opec and Russia are offset by swelling US supply and an uncertain demand outlook. While Saudi Arabia leads global producers...

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US set to become consistent net oil exporter by late 2020 — EIA

US set to become consistent net oil exporter by late 2020 — EIA

The US will become a consistent net petroleum exporter late next year, the government has forecast, an astonishing shift that reflects surging domestic crude oil production. The country will ship out more crude oil and liquid fuels than it...

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Saudi Arabia plots new path to long-delayed Aramco IPO

Saudi Arabia plots new path to long-delayed Aramco IPO

Saudi oil giant Aramco is undertaking a series of moves that may pave the way for a long-delayed stock market debut. The kingdom plans an initial public offering for Aramco in 2021, Saudi Energy Minister Khalid al-Falih said during a news...

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BP just discovered a billion barrels of oil in the Gulf of Mexico

BP just discovered a billion barrels of oil in the Gulf of Mexico

BP’s investment in next-generation technology just paid off to the tune of a billion barrels of oil. The British energy company has discovered 1 billion barrels of crude at an existing oilfield in the Gulf of Mexico. BP also announced two...

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Canada’s Suncor expects upstream output to jump by 13% in Q4

Canada’s Suncor expects upstream output to jump by 13% in Q4

Suncor Energy (TSX:SU), Canada’s largest oil and gas producer by market cap, said Monday it expected overall production to increase by about 13% in the fourth quarter of 2018, thanks to higher output from its majority-owned Syncrude oil...

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Commodity traders sharply increase LNG presence

Commodity traders sharply increase LNG presence

The world’s leading independent commodity traders have increased their presence in the liquefied natural gas market, raising their delivery volumes by almost 40 per cent in 2018 from a year before. The top three commodity traders — Gunvor, Vitol...

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China Expands Largest Gas Field; Daily Yield Is 20 Million Cubic Meters of Gas

China Expands Largest Gas Field; Daily Yield Is 20 Million Cubic Meters of Gas

The expansion project for the Dina-2 Oil-Gas Processing Plant in northwestern China has ended and its operations started yesterday. The country’s largest gas-condensate reservoir added another 4 million cubic meters to its previous...

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Saudi Aramco eyes $150bn of gas investments

Saudi Aramco eyes $150bn of gas investments

Saudi Aramco’s drive to increase gas output and become an exporter will spur $150bn worth of investments over the next decade, according to the state energy group’s chief executive. Outlining plans to increase Aramco’s gas output by almost 65 per...

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