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Brazil’s Petrobas to Invest $68 Billion to Expand its Crude Oil Production From 2022-2026

Petrobras expects to invest $68 billion in growing its crude oil production, accounting for 84% of the company's entire anticipated investments from 2022 to 2026. Decarbonization operations will get $1.8...
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Barclays Forecasts Brent to be $80 in 2022; Says SPR Release Will have no Key Impact on Oil Prices

Brent Crude prices are expected to average $80 per barrel in 2022, according to Barclays, which increased its projection by $3, citing slower supply growth next year and faster inventory...
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The U.S. Releases 50Million Barrels of Crude Oil from SPR to Lower High Prices

  The US stated on Tuesday that it would release 50 million barrels of crude oil, with 32 million barrels coming from an exchange that will need to be replaced...
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Iran and Azerbaijan Agree to Cooperate on Oil and Gas After Years of Differences

Iran and Azerbaijan have reportedly reached a landmark agreement in principle to cooperate on oil and gas issues. While details on the deal are still vague, it appears that Baku...
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Saudi’s Aramco and India’s Reliance Abandon $15 Billion Oil Deal

Due to the Indian oil conglomerate's shifting priorities, Saudi Aramco and Reliance Industries have cancelled plans for the Saudi oil giant to invest $15 billion in buying 20% of Reliance's...
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Libya’s Energy & Economic Summit Begins; Eni Pledges to Support Development of Libya’s Oil & Gas Prospects

The Libya Energy & Economic Summit 2021, representing the first large-scale international event to take place in Libya in over a decade, featured a presentation by Eni’s Natural Resources General...
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Saudi Arabia Remains China’s Top Supplier for the Eleventh Month in a Row

Per a Reuters report, Saudi Arabia has remained China’s number-one crude oil supplier, customs data for October has shown. Saudi oil exports to China increased by 19.5% from the previous...
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Eni and Egypt Discuss Investment in New Energy Projects at ADIPEC

Claudio Desclazi, Chairman and CEO of Eni, and Tariq El Molla, Egyptian Minister of Petroleum and Mineral Resources, met during the ADIPEC event in Abu Dhabi to discuss plans to...
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OPEC+ Has Delivered More than Any Other Group on the Planet – Prince Salman

Saudi Arabia's Energy Minister Prince Abdulaziz bin Salman remarked last week during the ADIPEC 2021 opening ceremony that the OPEC+ group has achieved more impressively than any other group on...
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Tullow Oil Exercises Pre-Emption Rights, Increases Interests in Jubilee and TEN Fields Offshore Ghana

Tullow Oil is to increase its stake in the Jubilee and TEN fields offshore Ghana by 7.7%, with the company having exercised its pre-emption rights to acquire Occidental Petroleum’s interest...
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