The Latest Breaking News from Oil

Voters in Africa's biggest economy and most populous nation head to the polls on Saturday to elect a new president and lawmakers, in what is set to be a close contest amid rising frustration over cash and fuel shortages, unprecedented insecurity and surging inflation.

Saudi Arabia registered an 8.7% economic growth in 2022, the General Authority for Statistics (GASTAT) said on Tuesday. The real GDP of the Kingdom during the fourth quarter of 2022 grew by 5.4 percent, compared to the same period in 2021. “This increase in GDP was a result of the…

US oil company ExxonMobil recorded a net profit of $56 billion last year, beating its previous 2008 record. It benefitted from a surge in prices following the Russian invasion of Ukraine and a cost-cutting drive during the pandemic. The White House has called these profits "outrageous", leading to further calls…

The Industrialization and Energy Service Company (TAQA) announced the closure of its 100 percent acquisition of al-Mansoori Petroleum Services, expanding TAQA Well Solutions business internationally. The acquisition is funded by a capital increase led by TAQA's existing significant shareholders. The investment brings to TAQA a long-established, well-diversified MENA-based business with…

Industry body calls on government to provide a stable regulatory and fiscal framework

OPEC oil output fell in January, a Reuters survey found on Tuesday, as Iraqi exports declined and Nigerian output did not recover further while Gulf members maintained strong compliance with an OPEC+ deal on production cuts to support the market. The Organization of the Petroleum Exporting Countries (OPEC) pumped 28.87…

One Pound Chef Miguel Barclay shows us how to cook up a storm – with a cult-classic Spanish wine – for half the price of a takeaway

Leaked tax records suggest subsidiaries of international gas field contractors continued to make millions after the coup

South Korea has logged its biggest monthly trade deficit ever, at $12.7 billion in January, as exports of computer chips and other high-tech items sank and costs for importing oil and gas surged

OPEC president talks to Al Jazeera about output cuts, price volatility, and the war in Ukraine and its effect on prices.

Exxon earned nearly $56 billion in profit last year, the biggest annual profit any Western oil company has ever seen. Chevron set its own record with $35 billion in profit.