The latest oil and gas news from around the world.
Updated: 19 min 19 sec ago
Russia on Alert as Its Key Oil Grade Nears $50
The Kremlin said it is doing everything possible to minimize the impact of a global oil price rout on Russia's economy.
Shell Cuts Gas Output Guidance on Unplanned Maintenance
Shell Plc sees lower natural gas production and LNG volumes in the first quarter of 2025 than previously expected.
Oil Futures Continue Slide
Crude's rapid decline has triggered bearish trading, profit warnings, and growing expectations for Federal Reserve rate cuts.
Industry Bodies Examine Texas Upstream Employment for February
'TIPRO appreciates the enormous contributions of the Texas oil and natural gas industry from an economic and energy security perspective', TIPRO President Ed Longanecker said.
US DOE Awards Operating Contract for Emergency Oil Reserve
The DOE awarded Strategic Storage Partners a $1.4-billion contract to manage and operate the U.S. Strategic Petroleum Reserve for an extendable five years.
US DOE Eases Restrictions on Requests for LNG Export Start Date Extensions
A project for which such a request is made no longer has to be under construction or has to demonstrate that circumstances outside its control prevented the start of exportation within 7 years.
Ring Energy Closes Acquisition of CBP Assets from Lime Rock
The assets cover around 17,700 net acres in the Permian Basin in Andrews County, Texas.
Trump Team Proposes Ending Clean Energy Office, Cutting Billions
The office employed about 250 people before President Donald Trump, a climate change skeptic, returned to office.
Execs Reveal Where They Expect Gas Price to be at Various Points in Future
Executives from oil and gas firms have revealed where they expect the Henry Hub natural gas price to be at various points in the future as part of the first quarter Dallas Fed Energy Survey.
Chevron Closes Divestment of East Texas Stake to TG Natural
The transaction consideration was $525 million.
Woodside to Farm Out 40 Percent of Louisiana LNG to Stonepeak
Stonepeak will commit a cumulative investment of $5.7 billion.
Oil Market Faces 'Quadruple Whammy'
These four key factors have driven the massive price drop over the last four trading days, said Ole R. Hvalbye, Commodities Analyst at Skandinaviska Enskilda Banken AB (SEB).
EU Calls for New Funding Proposals for Cross-Border Energy Projects
The new offer of about $659.54 million is for projects on the first list of Projects of Common Interest and Projects of Mutual Interest adopted under the revised TEN-E Regulation.
STATS Group, EPOMS Secure Pipeline Isolation Job in Malaysia
This award comes after the strategic agreement signed in May 2023 between STATS and EPOMS to collaborate on energy projects in Malaysia.
OGDCL Reports Third Gas and Condensate Discovery at Spinwam-1 Well
The Pakistani company said the discovery had been made in the well's Hangu formation.
Saudis Slash Oil Prices to Asia After Surprise Output Hike
Aramco will lower Arab Light crude to its biggest buyers in Asia by $2.30 a barrel for May.
Mentor Capital Increases Permian Royalty Stakes
Mentor acquired eight new royalty interest lots.
Kenya Extends Oil Import Deal with Gulf Oil Giants through 2027
Kenya has renewed a contract to purchase fuel on credit from three state-owned Gulf firms by 24 months and renegotiated lower margins.
WTI Sinks 14% in Two Days Amid Global Unrest
Oil prices plunged after OPEC+ increased output and global trade tensions escalated.
Brookfield to Buy Colonial Pipeline Owner in $9B Deal
A group of investors led by Brookfield agreed to acquire Colonial Enterprises in a deal that values the operator of the biggest U.S. fuel pipeline at about $9 billion.
