The latest oil and gas news from around the world.
Updated: 32 min 2 sec ago
Vaalco Takes Over CI705 Block Offshore Ivory Coast
The Houston-based company acquired the operatorship of CI-705 with a 70 percent stake from Ivory Coast Exploration Oil & Gas for $3 million.
Oil Futures Plunge Amid Trade Wars and Supply Hike
Oil prices fell to six-month lows on USA trade wars and OPEC+ production increases.
UK Drafts Post-2030 Oil Tax Plan to Replace Windfall Duties
The UK government is drafting a new tax regime for oil and gas companies to replace a controversial windfall levy after 2030.
USA Energy Sec Says We're at the Start of a New Manhattan Project
On its site, the U.S. Department of Energy states that it traces its origins to World War II and the Manhattan Project effort to build the first atomic bomb.
Saudi Aramco Weighs Bid for BP's Castrol Lubricant Assets
Aramco said last year it's looking for more refining and chemicals acquisitions in Asia and sees China, India and southeast Asia as its big growth markets.
Kinetik Holdings Logs Lower Profit
Kinetik Holdings reported $16.2 million in net income including non-controlling interests for the three months ended December.
Superior in the Red amid Strategy Shift
The North American propane distributor posted a $17.9 million net loss for 2024.
Honeywell to Acquire Sundyne for $2.16B
Honeywell has announced about $11.03 billion worth of acquisitions since December 2023.
Analysts Look at OPEC+ Move
Several analysts have their say.
Elliott Nominates 7 for Phillips 66 Board Election
Elliott nominated seven candidates with the 'best-in-class experience in refining and midstream operations' for election to Phillips 66's board to remedy 'persistent underperformance'.
Baker Hughes to Support Frontier's CCS, Power Projects
Baker Hughes will provide CO2 compression, well design and its industrial NovaLT gas turbines.
Ring Energy to Acquire Lime Rock's Central Basin Platform Assets
The purchase price of the acquisition is $100 million, subject to customary closing adjustments.
Macquarie Strategists Forecast USA Crude Inventory Build
Macquarie strategists revealed that they are forecasting that U.S. crude inventories will be up by 1.2 million barrels for the week ending February 28.
New Stratus Energy Exits Four Venezuela Fields
The Canadian company secured terms that allow it to regain its stakes after two years.
China Asks Refiners to Cut Fuel Output, Shift to Chemicals
China wants its refiners to produce less fuel and more petrochemical products as its electric-vehicle boom alters the country's consumption of diesel and gasoline.
Oil Drops as Tariffs and OPEC+ Supply Shake Markets
Brent crude slipped below $70, while WTI neared $68, as fears of an oversupplied market weighed on sentiment.
BP's Reset Plan Shows Early Vulnerability as Oil Nears $70
BP's strategy reset isn't even a week old, but it's already showing some vulnerabilities.
Natural Gas Prices Are Starting to Look Exciting to Bulls
Rigzone talks to several analysts about the U.S. natural gas price.
Shell Shakes Up Executive Committee Ahead of New Strategy
Shell Plc said it is making further changes to its executive committee.
Cactus Posts Lower Profit for Q4
'Although expectations for 2025 U.S. land activity levels remain soft, we have several initiatives underway that are intended to grow our customer base and mitigate potential tariff impacts'.
