OPEC+ approved a fourth consecutive hike in its oil output targets, even as the ongoing US conflict with Iran continues to block several member states from raising production, Reuters reported.
Russia’s oil and gas tax revenue rose by 32.4% year-on-year (YoY) in May to 678.9 billion roubles ($9.3 billion), supported by higher global oil prices amid escalating tensions in the Middle East, according to dat ...
US energy storage developers added 9.7 gigawatt-hours (GWh) of new capacity in the first quarter (Q1) of 2026, the highest level ever recorded for that period, with a 32% year-on-year (YoY) increase, Reuters said ...
Seven OPEC+ countries, Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria, and Oman, convened virtually on May 3 to assess global oil market conditions and outlook. The meeting resulted in a collective decisi ...
Venezuela’s crude oil exports rose by 14% month-on-month to around 1.23 million barrels per day (mmbbl/d) in April, marking the highest level recorded in more than seven years, according to shipping data and docum ...
TotalEnergies reported a 29% increase in first-quarter (Q1) adjusted net income on Wednesday, reaching $5.4 billion and exceeding the $5 billion anticipated by analysts, according to Reuters. The French energy maj ...
Tharwa Petroleum Company, a state-owned company, recorded strong operational and production results in 2025, achieving a 15% increase in output compared to the previous year following the successful drilling of fo ...
The Alexandria Petroleum Maintenance Company (Petromaint) recorded its highest-ever revenues in 2025, rising by 56% year-on-year (YoY) to EGP 11.8 billion, compared to EGP 7.6 billion in 2024. The results, which w ...
Eight members of the OPEC+ alliance have agreed to increase oil production by 206,000 barrels per day (bbl/d) starting in May 2026, as part of a gradual plan to ease earlier supply cuts and support market stabilit ...
Organization of the Petroleum Exporting Countries (OPEC) and its allies, including Russia (OPEC+), are considering a major output boost on March 1 meeting, potentially surpassing the slated 411,000 barrels per day ...
