As Guyana consolidates its position as a global offshore heavyweight, attention is shifting across the maritime border to Suriname. The geology is familiar, the operators are credible, and the development timelines are beginning to crystallize. What remains unclear is how far and how fast Suriname can go, and whether it intends to follow Guyana's high-volume path or chart a more calibrated trajectory. Guyana’s offshore story began in earnest with ExxonMobil’s Liza-1 discovery in 2015, followed by first oil in 2019. Today, production…

Saudi Arabia seeks to raise its solar and wind power capacity with multi-billion-dollar deals. The Kingdom, the world’s top crude oil exporter, wants to develop all forms of energy, diversify its economy from oil, and replace oil in power generation with renewables and natural gas. The Saudis are not abandoning their primary role in global oil production and supply. But the more renewables they install, the more fuel for direct crude burn for power generation could be displaced, to free up more barrels of oil for exports. In one of the latest…

The Middle East is on track to surpass Asia to become the world’s second-largest gas producer in 2025, ranking only behind North America, according to Rystad Energy research and analysis. Gas production in the Middle East has grown by about 15% since 2020, and the future growth underscores the determination of regional producers to monetize gas reserves and develop export potential to meet global demand. The region currently produces about 70 billion cubic feet per day (Bcfd) of gas, a figure that is forecast to increase by 30% by 2030 and…

Venture Global has quietly begun producing LNG from Phase 2 of its Plaquemines export terminal in Louisiana, sources told Reuters, marking a significant step in the company's ongoing strategy to front-load spot market profits while delaying deliveries to long-term customers. The move allows the recently public LNG player to sell cargoes at elevated spot market prices—reportedly earning $7.09 per MMBtu in Q2 2025—well above the $2.66 per MMBtu it collects under fixed-fee contracts at its now-commissioned Calcasieu Pass facility. Buyers…

Each year, the Statistical Review of World Energy offers important insights into global energy trends. Now published by the Energy Institute in collaboration with KPMG and Kearney, the 2025 edition—reflecting full-year 2024 data—reveals that global oil production and consumption remained relatively steady, but there are meaningful shifts underway. These shifts reflect not only changing geopolitics and economic recovery patterns but also longer-term questions around energy security, investment priorities, and the uneven global evolution…

The mainstream news media has already figured out that the Trump administration's proposed tariffs on imported copper of 50 percent would dramatically hike copper prices for American industry and raise the price of products containing copper for consumers, which is just about everything electrical. The reason is simple; The United States is a net importer of 45 percent of its copper needs according the U.S. Geological Survey. All right, you may say, so there will be some short-term pain until the United States develops enough new copper mining…

Via Metal Miner The Stainless Monthly Metals Index (MMI) moved sideways, but the downside bias continued. Overall, the index fell 0.9% from June to July. Meanwhile, nickel prices continued their slow slide downward. Mill Price Hikes Hold June brought in a wave of price hikes from U.S. mills. NAS led the market, issuing possibly its largest ever increase in one single announcement. This was quickly followed by ATI and Outokumpu, which seemingly reinforced NAS’s move. While buyers with negotiated contracts have thus far been spared from the…

Freight rates for Russian Urals crude from Baltic ports to India have dipped again in July, falling to $5.0–$5.3 million per Aframax shipment—down from $5.5–$5.7 million in June—as more tankers become available. But traders warn: don’t get too comfortable. A new round of EU sanctions and a pending statement from Donald Trump could send rates—and risks—right back up. The drop in shipping costs reflects a brief window of flexibility. With Urals crude still priced under the $60 per barrel price cap, Western…

The world needs $18.2 trillion in oil and gas investments through 2050 to ensure energy supply by the middle of the century, OPEC Secretary General Haitham Al Ghais has told Energy Connects in an exclusive interview. Oil demand is set to continue rising through 2050, with consumption expected at 123 million barrels per day (bpd) then, up from about 104 million bpd this year, according to OPEC’s annual World Oil Outlook (WOO) released last week. Oil is still expected to account for 30% of the global energy mix in 2050, according to OPEC’s…

The broad view of the US President Donald Trump’s first administration as exclusively told to OilPrice.com at the time by a senior legal figure in that team was: “We’re not going to put up with any more crap from the Saudis.” That comment came after Saudi Arabia had yet again started another oil price war in early 2020 designed to cripple or destroy U.S. shale producers by dramatically increasing oil production to crash oil prices. It was exactly the same strategy it had used in the 2014-2016 Oil Price War, which had abjectly…

Occidental Petroleum Corporation expects its oil and gas production in the Gulf of Mexico for the second to have been lower than previously guided due to curtailments, while lower oil prices reduced realizations from sales. Ahead of the full Q2 earnings release on August 7, Oxy said in an SEC filing on Monday that its oil and gas output from the Gulf of Mexico – or as many oil firms are now calling it the Gulf of America – is estimated at around 125,000 barrels of oil equivalent per day (boepd). “Occidental’s Gulf of America…

The recent flare-up between Israel and Iran, followed by U.S. military engagement and a tenuous ceasefire, has once again exposed just how fragile the geopolitical architecture of global energy truly is. While open conflict has temporarily de-escalated, this latest episode shows that the risk of broader regional disruption remains very real. At the center of it all lies the Strait of Hormuz, the narrow maritime corridor through which a fifth of the world’s oil and a third of its LNG passes each day. Even in the absence of a full-scale blockade,…

Indonesia will buy billions of U.S. dollars worth of American oil and oil products if the U.S. tariffs on Indonesian goods are lowered, Indonesia’s Energy Minister Bahlil Lahadalia said on Monday. Indonesia could scrap plans to import energy commodities from the United States if the Trump Administration refuses to lower tariffs on Indonesian goods, Indonesian media reported. “If there’s no agreement, then there’s no deal. We’ll wait for the official decision from the chief economic minister,” Jakarta Globe quoted…

Indonesia will buy billions of U.S. dollars worth of American oil and oil products if the U.S. tariffs on Indonesian goods are lowered, Indonesia’s Energy Minister Bahlil Lahadalia said on Monday. Indonesia could scrap plans to import energy commodities from the United States if the Trump Administration refuses to lower tariffs on Indonesian goods, Indonesian media reported. “If there’s no agreement, then there’s no deal. We’ll wait for the official decision from the chief economic minister,” Jakarta Globe quoted…

Indonesia will buy billions of U.S. dollars worth of American oil and oil products if the U.S. tariffs on Indonesian goods are lowered, Indonesia’s Energy Minister Bahlil Lahadalia said on Monday. Indonesia could scrap plans to import energy commodities from the United States if the Trump Administration refuses to lower tariffs on Indonesian goods, Indonesian media reported. “If there’s no agreement, then there’s no deal. We’ll wait for the official decision from the chief economic minister,” Jakarta Globe quoted…

US President Donald Trump has pledged to send additional Patriot air-defense systems to Ukraine, a policy shift coinciding with what he promised would be a "major statement" regarding Washington's approach to Russia. In comments late on July 13, Trump did not provide specifics on the planned Patriot deliveries to Kyiv -- which has long pleaded for the systems it sees as crucial to defending its cities from Russian air strikes, which Moscow has ramped up in recent weeks. He also criticized Vladimir Putin, the latest in a series of negative remarks…

The U.S. Department of Energy has authorized the exchange of up to 1 million barrels from the Strategic Petroleum Reserve (SPR) to ease the crude shortage at Exxon’s refinery in Baton Rouge, Louisiana, after quality issues with the Mars crude grade emerged last week. DOE has authorized an exchange from the SPR with ExxonMobil Corporation “to address logistical challenges impacting crude oil deliveries to the company’s Baton Rouge refinery.” U.S. Secretary of Energy Chris Wright authorized this action to help maintain a stable…

The U.S. Department of Energy has authorized the exchange of up to 1 million barrels from the Strategic Petroleum Reserve (SPR) to ease the crude shortage at Exxon’s refinery in Baton Rouge, Louisiana, after quality issues with the Mars crude grade emerged last week. DOE has authorized an exchange from the SPR with ExxonMobil Corporation “to address logistical challenges impacting crude oil deliveries to the company’s Baton Rouge refinery.” U.S. Secretary of Energy Chris Wright authorized this action to help maintain a stable…

The U.S. Department of Energy has authorized the exchange of up to 1 million barrels from the Strategic Petroleum Reserve (SPR) to ease the crude shortage at Exxon’s refinery in Baton Rouge, Louisiana, after quality issues with the Mars crude grade emerged last week. DOE has authorized an exchange from the SPR with ExxonMobil Corporation “to address logistical challenges impacting crude oil deliveries to the company’s Baton Rouge refinery.” U.S. Secretary of Energy Chris Wright authorized this action to help maintain a stable…

Surging domestic coal production and weaker demand resulted in China’s lowest volumes of coal imports in June for nearly two and a half years. China imported last month a total of 33.04 million metric tons of coal, down by 26% from a year earlier and down by 8% compared to May, according to data from the General Administration of Customs cited by Reuters. Chinese imports in June 2025 were at their lowest level since February 2023, the data showed on Monday. Coal imports dipped by 11% in the first half of the year from the same period of 2024,…