Two JV partners of Mexico's state-run oil company Pemex will invest a combined $250 million in two projects over the next four years as they aim to quickly ramp up crude output.
The discovery of a major new natural gas field in Indonesia may push back the day the country's gas consumption outpaces its production and reduce its reliance on imported liquefied natural gas (LNG), officials and analysts said on Feb. 20.
In a two-hitter, Mid-Con Energy agreed to sell substantially all of its Texas properties while also picking up producing Oklahoma properties.
The country was among several that are showcasing acreage available for oil and gas exploration, development and production.
The Dallas-based oil and gas company is bullish on conventional production and believes that is what is needed to develop significant resources internationally.
There will be no seismic exploration this winter on the coastal plain of the Arctic National Wildlife Refuge (ANWR), the Interior Department said on Feb. 8, after the company seeking permission to conduct the tests ran out of time to get the required permit.
Libya's biggest oilfield, El Sharara, will remain shut until an armed group occupying the site leaves, the head of National Oil Corp (NOC) said on Jan. 29, more than a month after the field closed because of a protest.
Russia came in as China's largest crude oil supplier in December, cementing the top spot for all of 2018 for a third year in a row ahead of rival Saudi Arabia, customs data showed on Jan. 25.
U.S. oil producers sought on Jan. 23 to soothe OPEC's worries about losing market share, telling the group that investors in the U.S. firms wanted a reduction in growth and higher payouts.