Turkey and Pakistan Partner to Explore World’s Fourth Largest Offshore Oil & Gas Reserve
Pakistan and Turkey have signed a landmark agreement to jointly explore 40 offshore oil and gas blocks in the Makran and Indus basins, potentially tapping into what some analysts describe as the fourth largest oil and gas reservoir in the world.
OPEC+ to Proceed with April Oil Output Increase
OPEC+ has confirmed its decision to proceed with a 138,000 barrels per day (bpd) increase in oil production starting in April, marking the first production hike since 2022. The decision follows renewed pressure from U.S.
Saudi Aramco Acquires 25% Stake in Unioil Petroleum Philippines
Saudi Aramco has signed an agreement to acquire a 25% stake in Unioil Petroleum Philippines, marking a significant step in expanding its presence in the Asian fuel market. Unioil, a well-established player in the
Guyana’s Crude Oil Exports Surge in 2024
Guyana has significantly increased its crude oil exports, shipping 225 cargoes in 2024, positioning the country as the fifth-largest crude exporter in Latin America. This marks a substantial rise from the previous year, with exports increasing by 54% to 582,000 barrels per day, up fro
Global Oil Prices Increase Over 3% Amid Widespread Production Halts
Oil prices surged over $2 a barrel on Monday, driven by disruptions in crude production and global supply…
OPEC Lowers Oil Demand Growth Forecasts Again
The Organization of the Petroleum Exporting Countries (OPEC) has revised its global oil demand growth…
EIA Highlights Growing Use of Biofuels in the U.S.
The U.S. EIA has begun publishing new data series on biofuels and distillate…
Brent crude falls to a 9-month record low: Markets in a state of uncertainty
Brent crude oil prices have dropped to $73.75 per barrel, a 9-month low, amid expectations…
Oil Market Report by the International Energy Agency (IEA)
The August 2024 Oil Market Report by the International Energy Agency (IEA) highlights…
Prices Surge to Six-Month High Amid Middle East Tensions and Iraq’s Provocative Call”
LONDON, England (CNN) – On Tuesday, the price of oil spiked to its highest level in six months…
