Wednesday, Jun 25, 2025

The World of Petroleum and Bitumen

The June Issue of WPB Journal

The June Issue of WPB Journal

MAGAZINES

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Middle East Tensions Shake Oil Markets as Prices Drop Unexpectedly

According to World of Petroleum and Bitumen (WPB), rising hostilities in the Middle East have unsettled global energy markets, yet oil prices have de...

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Asian Refiners Seek More Term Crude as Regional Tensions Drive Up Spot Premiums

According to WPB, oil refiners across Asia are actively pursuing increased volumes through term contracts, responding to a surge in spot crude premiu...

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Geopolitical Escalation in the Middle East Triggers Global Oil Shock and Market Volatility

According to WPB, recent military developments in the Middle East have introduced heightened instability to global energy markets. Aerial strikes car...

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Japan Resumes Imports of Russian Sakhalin Crude for First Time Since 2023

According to WPB, Japan has recently resumed the importation of Russian-origin crude oil, marking the first such purchase since early 2023. The move ...

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Crude Oil Price Decline Challenges Profit Margins and Investment Plans in Energy Sector

According to WPB, the oil and gas sector is currently navigating a period of financial strain, as global crude prices hover in the low $60 range per ...

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Projected Surge in Norway’s Oil and Gas Spending to Reach All-Time High

According to WPB, investment levels in Norway’s oil and gas industry are poised to reach their highest point to date, largely propelled by increase...

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Global Base Oil Market Trends in Q1 2025 and Forward Outlook

According to WPB, the global base oil market displayed varied regional dynamics during the first quarter of 2025, shaped by crude oil fluctuations, r...

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Kazakhstan Projected to Surpass Oil Output Target Amid OPEC+ Constraints

According to WPB, Kazakhstan is anticipated to exceed its planned oil production levels for the current year, primarily driven by the expansion of th...

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Shaping a Sustainable Industry: The Evolution of Base Oil Technologies for a Low-Carbon Future

According to WPB, the role of base oils in modern energy and industrial systems has reached new levels of importance. As global industries work towar...

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India Emerges as the Fastest-Growing Oil Consumer, Surpassing China

According to WPB, India has firmly positioned itself as the leading driver of global oil demand growth, having overtaken China earlier than many anal...

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Chevron, Shell, and BP Strengthen LNG Presence in Egypt Amid Global Energy Shifts

According to WPB, global energy giants Chevron, Shell, and BP are intensifying their involvement in Egypt’s natural gas sector, positioning the cou...

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Venezuela Urgently Seeks Increased Oil Sales to China Amid Mounting Pressure

Venezuela’s critical oil sector is deteriorating, and the root cause extends far beyond internal issues like broken-down facilities or ongoing admi...

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Nigeria Adopts New Approaches to Boost LNG Industry

With global liquefied natural gas (LNG) capacity expected to surge from 486 million tonnes annually in 2023 to 755 million tonnes by 2030, Africa is ...

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Turkey Pursues Energy Ventures in Bulgaria, Iraq, and Libya Amid Broader Regional Aspirations

Turkey is actively engaging in discussions to initiate oil and gas exploration in Bulgaria, with parallel efforts underway for similar projects in Ir...

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Oil and Gas Sector Faces Ongoing Hurdles in Emissions Reduction Push

Efforts to reduce carbon emissions within the oil and gas industry have remained a contentious and urgent issue for years. As 2025 approaches — a s...

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U.S. Has the Power to Stop Iran’s Oil Shipments Completely

The United States has the capability to bring Iranian oil exports to a complete halt if it ramps up pressure on Tehran to prevent the country from ev...

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CNPC Projects 1.1% Increase in China’s Oil Consumption for 2025

China’s oil demand is set to rise by 1.1% in 2025, driven by unexpectedly robust economic expansion and surging need for petrochemicals, according ...

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Two Global Oil and Gas Giants Officially Apply for Reservoir Management Permits for Carbon Storage

Two global oil and gas giants operating in Indonesia, ExxonMobil and BP, have officially applied for permits to manage reservoir areas for carbon sto...

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Pertamina Accelerates Oil Exploration After US Withdraws from the Paris Agreement

Pertamina Accelerates Oil Exploration After US Withdraws from the Paris Agreement

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Indonesia’s ICP for January 2025 Set at USD 76.81 per Barrel

news has arrived from the Ministry of Energy and Mineral Resources (ESDM), which has set Indonesia’s Crude Price (ICP) for January 2025 at USD 76.8...

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