Bloomberg Reports Possible 60-Day Extension of Chevron’s License to Operate in the Bolivarian Republic of Venezuela
The administration of U.S. President Donald Trump is prepared to extend the license granted to Chevron Corporation for oil production and export activities in the Bolivarian Republic of Venezuela by an additional 60 days, Bloomberg reported, citing sources familiar with the matter. The extension is being considered in the context …
Ministry of Energy of the Republic of Kazakhstan: The Tengiz Field Will No Longer Increase Oil Production
Oil production in the Republic of Kazakhstan rose by 2% from the April average, reaching 1.86 million barrels per day (bpd) between May 1 and May 19, according to Reuters. The Tengiz field alone contributed 932,000 bpd to this total. In April, Kazakhstan reduced its oil output by 3% month-on-month, …
ConocoPhillips: If Oil Prices Fall to $50 per Barrel, the United States Will Reduce Production
Oil production from low-permeability reservoirs will cease to grow by the 2030s unless an innovative method for developing such formations is invented, according to Ryan Lance, Chief Executive Officer of ConocoPhillips. According to Lance, if the price of oil remains in a comfortable range—between 65 and 75 U.S. dollars per …
Bashneft Has Connected Over 8,000 Wells to Its Digital Oilfield System
Bashneft, a subsidiary of Rosneft Oil Company, has integrated 8,100 oil wells into its Digital Oilfield information system. This represents over 70 percent of the company’s total operational well stock in the Republic of Bashkortostan. The system’s advanced solutions—used for the first time at such scale in the oil and …
The Abu Dhabi National Oil Company (ADNOC) Will Collaborate with ExxonMobil to Enhance Recovery at the Upper Zakum Oil Field
The Abu Dhabi National Oil Company (ADNOC) of the United Arab Emirates (UAE) and ExxonMobil Corporation of the United States will work jointly to enhance oil recovery at the Upper Zakum offshore oil field, ADNOC announced following the recent visit of U.S. President Donald Trump to the Emirates. The field …
Shale Oil Reserves in the Southeastern Region of the Republic of Türkiye Are Estimated at 6.1 Billion Barrels
Shale oil reserves in the southeastern Diyarbakir Basin of the Republic of Türkiye are estimated at 6.1 billion barrels, according to assessments by Continental Resources, a U.S.-based oil company. This was announced by the Minister of Energy and Natural Resources of Türkiye, who noted that such a volume of resources …
The Russian Federation Has Discussed Oil and Gas Exploration and Production on the Continental Shelf of the Kingdom of Bahrain
The Russian Federation and the Kingdom of Bahrain have discussed the terms of Russian energy supplies to Bahrain, as well as the possibilities for joint cooperation in geological exploration and the production of oil and gason Bahrain’s continental shelf with the participation of Russian companies, according to an official statement …
Gazprom Neft Increased Hydrocarbon Production and Processing in the First Quarter of the Year 2025
Gazprom Neft has published its consolidated condensed interim financial statements for the first quarter of 2025, prepared in accordance with International Financial Reporting Standards (IFRS). Despite macroeconomic headwinds, inflationary pressure, and an increase in the tax burden, the company achieved strong operational performance during the reporting period. Revenue for Q1 …
Joint Stock Company NNK Has Discovered an Oil Field in the Saratov Region of the Russian Federation
The subsidiaries of Joint Stock Company NNK (Independent Oil and Gas Company) operating in the Saratov Regionhave been conducting highly efficient geological exploration activities at the company’s licensed areas for more than ten years. The discovery of the oil field became possible thanks to the well-coordinated efforts of the enterprise’s …
Chevron Corporation and Companies from the European Union Are Requesting Approval from the United States Administration for Projects in the Bolivarian Republic of Venezuela
Chevron Corporation of the United States and European energy companies are currently engaged in negotiations with the administration of President Donald Trump to retain their stakes in joint ventures with PDVSA, the state-owned oil and gas company of the Bolivarian Republic of Venezuela, according to a report by Reuters. The …