Rigzone Industry News

Russia will cut the export levy on crude its producers pay for the first time since July following a drop in global oil prices.

Oil fell after a government report showed swelling US crude inventories and a Federal Reserve official signaled interest rates may remain elevated.

The Ridley Energy Export Facility is planned to be a large-scale coastal terminal that will have the capability to export LPGs, methanol, and other bulk liquids.

A rise in project costs has rendered the electricity price unattractive.

The U.S. Energy Information Administration lowered its West Texas Intermediate oil price forecast for 2023 and 2024 in its November short term energy outlook.

Global oil refiners will suffer a 'soft patch' next year as new capacity in Mexico, Africa and the Middle East boosts fuel supply, according to Vitol Group's Head of Research.

Shell's Head of AI was at the Web Summit in Lisbon, Portugal, talking about the company's experience with generative AI.

The acquisition will add approximately 62,000 net acres in the Anadarko Basin to the company's portfolio.

'The ongoing geopolitical tensions and the unpredictable fluctuations in crude oil prices are significantly dampening the overall sentiment within the oil and gas sector'.

Five Canadian premiers are pushing to get a carbon tax exemption on home oil heating extended to all forms of home heating.