Tag: oil

Europe’s Largest Gas Field Could Face Larger Production Cap

The Dutch Parliament adopted a motion to review production at the Groningen gas field annually, Reuters reported on Thursday. In June, the legislature passed a 5-year output bill that sought to limit the...

Shell Starts Production at Stones in the Gulf of Mexico

Shell announces recently  that production has started from the Stones development in the Gulf of Mexico. Stones is expected to produce around 50,000 barrels of oil equivalent per day  when fully ramped...

Gazprom Neft acquires two new licences in the Yamalo-Nenets Autonomous Okrug

Gazpromneft-Noyabrskneftegaz and Gazpromneft-Yamal, subsidiaries of Gazprom Neft, have won recent tendering rounds for subsoil usage rights to the Yuzhno-Noyabrskoye and Kamennomysskoye (onshore) fields, both located in the Yamalo-Nenets Autonomous Okrug, in close...

Costa Rica Has Been Running on 100 Percent Renewables for Two Months

Costa Rica ran on 100 percent renewable energy for 76 straight days between June and August this year, according to a new report, demonstrating that life without fossil fuels is possible -...

IEA Executive Director Holds Talks with Prime Minister of the Republic of Slovenia

On the side lines of the Bled Strategic Forum held on 5 September, Dr Birol met with H.E. Miro Cerar, Prime Minister of the Republic of Slovenia. The meeting focused on global...

Global Oil Demand Can Only Increase

While incremental annual gains obviously vary, there is nothing more assured than increasing global oil demand. The steady drumbeat of more people, making more money, using more oil may be boring to...

Blame Oil: Nigeria Slumps into Recession, Norway Stalls

Nigeria slumped into recession and Norway's economic growth slowed to a standstill in the second quarter. Both countries rely on oil for a big chunk of their exports and have been hit...

Adapting to a Drier World

Water, which covers more than two-thirds of the planet’s surface, is fundamental to life. It is also essential to energy production. Water is critical to pumping oil and natural gas out of the...

The Top 10 Public Global Oil Producers In 2016

The following list is based on average daily global oil production for all publicly traded companies during the most recent fiscal quarter. As noted in the article on natural gas producers, some...

Iran Says Will Cooperate with OPEC to Stabilize the Oil Market: IRNA

Iran's oil minister said today that Tehran will cooperate with Organization of the Petroleum Exporting Countries (OPEC) to stabilize the world market, but expects others to respect its rights, the ministry's news...

Despite the Current Decline, Oil Market on the Path to Rebalancing

“Higher oil demand is expected in the 3rd and 4th Quarters”, HE Dr Mohammed Bin Saleh Al-Sada, Qatar’s Minister of Energy and Industry and current OPEC President said, expressing positive sentiments in...

IEA releases Oil Market Report for August

Crude oil prices eased to around $45 per barrel in August as a global supply overhang weighed and demand growth weakened, the newly released IEA Oil Market Report (OMR) for August informs...

IEA data shows global energy production and consumption continue to rise

Reflecting the IEA’s increasingly global perspective, for the first time the Agency’s OECD and non-OECD Energy Balances and Statistics reports have been merged into two comprehensive global reports on energy data. World...

More than 8 Million People Were Employed Worldwide in the Renewable Sector

A boom in solar and wind power jobs in the US led the way to a global increase in renewable energy employment to more than 8 million people in 2015, according to...

Chemists Find New Way to Recycle Plastic Waste into Fuel

A new way of recycling millions of tons of plastic garbage into liquid fuel has been devised by researchers from the University of California, Irvine and the Shanghai Institute of Organic Chemistry...

IEA releases Oil Market Report for July

Global oil supplies rose by 0.6 mb/d in June, to 96 mb/d, after outages curbed OPEC and non-OPEC supplies in May, while production was 750 kb/d below as higher OPEC output only...

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