Rigzone Industry News

The company announced that it has made a 'major' oilfield discovery in the Bohai Sea.

A major development led by Chevron to boost oil output at Kazakhstan's Tengiz field will cost about $48.5 billion.

Oil Prices were bolstered Thursday by a warning from the International Energy Agency about Supply Shortages now forecasted through end of the year if OPEC+ reductions persist.

The discovery adds over a hundred million tons of oil equivalent proved in-place volume, according to the company.

Canadian Overseas Petroleum Ltd. has filed bankruptcy in its home country and the United States.

The CER has approved the Inuvialuit Energy Security Project (IESP) Energy Centre project, which will convert natural gas into compressed natural gas, propane, and synthetic diesel.

Chevron Uruguay Exploration Limited is acquiring a 60 percent participating interest in the Area Off-1 block offshore Uruguay in a farm-out agreement with Challenger Energy.

OQC's technology provides 'several potential groundbreaking opportunities for the energy sector'.

China's oil demand has entered a low-growth phase as decarbonization starts to eat into consumption of fossil fuels.

China's oil imports eased in the first two months of 2024 on a seasonal lull due to the Lunar New Year break, and as private refiners held off on some purchases.