Global sanctions and aging infrastructure are causing a significant decline in Russian oil production, with long-term ...

How does the strategic petroleum reserve work? Does the government buy oil at market prices, then sell it back at the same price it bought it when there is a shortage? Or is it given away? How do ...

FPSO (Floating Production, Storage, and Offloading) vessels are floating facilities that receive well fluids, process them to export-spec crude and gas, store stabilized crude, and offload to shuttle ...

Some major oil companies such as Shell and BP that once were touted as leading the way in clean energy investments are now pulling back from those projects to refocus on oil and gas production. Others ...

Saudi Arabia, the de facto leader of the oil cartel, sees advantages in increasing output despite market risks.

NEW YORK/HOUSTON, March 27 (Reuters) - U.S. oil producers are grappling with geological limits to production growth as the country's top oilfield ages and produces more water and gas and less oil - ...

Aug 26 (Reuters) - Work is underway at three new wells in the Zohr gas field in the Mediterranean in the current financial year, Egypt's petroleum ministry said on Tuesday. Another well, the Zohr-6 ...