The Bureau of Public Enterprises had reported that the Warri refinery had never achieved full capacity utilisation, and after years of decline and shutdown in 2015 due to disrepair and crude shortages ...

Oil prices were little changed on Thursday as investors focused on tariffs threatened by U.S. President Donald Trump on Mexico and Canada, the two largest suppliers of crude to the United States.

Production in the fourth quarter averaged 175,000 barrels of oil equivalent per day, down 28% from the same period a year earlier. The latest tally included 85,000 barrels of oil per day. Murphy's ...

If AI really doesn’t need that much power, energy companies have less incentive to produce more.

Oil prices slipped for a second day on Thursday after U.S. crude stockpiles rose more than expected, though attention ...

“Heavy oil cannot easily be substituted with the light oil that makes up most of U.S. shale oil production; such a switch ...

Petrobras increased its proven oil and gas reserves by 500 million barrels in 2024 and plans to invest $111 billion in exploration and production over the next five years.

Oil futures lose ground as a two-month long slide in U.S. crude inventories ended and the Fed paused in its monetary easing cycle, with chair Jerome Powell saying the U.S. central bank doesn't need to ...

U.S. oil futures on Wednesday marked their lowest settlement price of the year so far after official data revealed a weekly rise in commercial crude inventories following nine consecutive weekly ...

Oil prices fell on Wednesday, with the U.S. benchmark settling at its lowest year to date, after domestic crude stockpiles in ...

Oil prices fell on Wednesday, with the U.S. benchmark touching a multi-week low after crude stockpiles in the world's top ...

U.S. crude oil inventories increased for the first time in 10 weeks as exports fell and refineries lowered their capacity use, The Wall Street Journal reports.  Data released Wednesday by the U.S.