Petroleum Solutions

President-elect Donald Trump’s vows to “frack, frack, frack” are about to collide with a global crude glut that’s set to, finally, temper record shale production. Trump has said he’ll push America’s shale companies to ramp up output – telling supporters pump prices would fall even if it meant producers “drill themselves out of business” —...

President-elect Donald Trump’s vows to “frack, frack, frack” are about to collide with a global crude glut that’s set to, finally, temper record shale production. Trump has said he’ll push America’s shale companies to ramp up output – telling supporters pump prices would fall even if it meant producers “drill themselves out of business” —...

The discovery is estimated at between 13 and 28 million barrels of oil equivalent.An exploration well with sidetrack has been drilled about 10 kilometres north of the Troll field in the North Sea. Petroleum was struck in both well trajectories. Both oil and gas were discovered, slightly more than half being gas. The discoveries were...

Agreements have been signed to pave the way for a United Nations-backed fund for the most climate-vulnerable countries to start project financing in 2025, COP29 host Azerbaijan said Tuesday. The “loss and damage” fund’s board signed a Trustee Agreement and a Secretariat Hosting Agreement with the World Bank and a Host Country Agreement with the...

Oil edged higher as the tight US presidential election looms over global markets while a tropical storm threatens production from the Gulf of Mexico. West Texas Intermediate rose 0.7% to settle near $72 a barrel. The price had earlier risen as much as 1.7% before paring gains and even briefly turning negative. Brent advanced 0.6%...

TotalEnergies SE on Thursday reported $2.29 billion in net income for the third quarter, down 65.64 percent compared to the same three-month period last year and 39.42 percent quarter-on-quarter, with the company blaming a sharp fall in refining margins and lower oil prices. Adjusted net income, which by the company’s definition is net income less...

The Environmental Protection Agency has given its blessing for a proposed Texas oil port capable of exporting 1 million barrels of oil a day, even as the terminals face increasing scrutiny from environmental activists, progressive lawmakers and local officials. In a letter from the EPA made public by opponents of the project Thursday, the agency...

Oil edged higher on a report that Iran may be preparing to attack Israel from Iraqi territory in the coming days, though crude still finished the week lower amid skepticism that the war will disrupt supplies. West Texas Intermediate surged as much as 3.2% on Friday before paring gains to settle below $70 a barrel,...