Industry News

Colombia's top energy official said companies are opting for more costly imported fuel.

Germany is set to extend its trusteeship over local subsidiaries of Russia's state oil giant Rosneft for a fifth time as a sale to Qatar's sovereign wealth fund remains in limbo.

Oil settled little changed, rebounding from the lowest since December.

Since a shift toward renewable energy under BP's previous leadership, the company's valuation has lagged its peers.

The sale was made in early February.

USA Compression Partners LP reported a net income of $25.4 million in the fourth quarter of 2024.

'At 427.9 million barrels, U.S. crude oil inventories are about four percent below the five year average for this time of year,' the EIA said.

'Underneath these signs of tranquility we think there is a bullish market trying to get out', Standard Chartered Bank analysts said.

The International Energy Agency has lowered its outlook for Russia's oil production this year by only a narrow margin even with sweeping western energy sanctions.

The UK government website notes that GB Energy 'will be a new, publicly owned, clean energy company'.

Commodity traders should start paying more attention to India, according to the country's oil and gas minister.

Oil fell as Trump-Putin talks raised doubts about sanctions, while US inflation data added pressure.

Petrobras Chief Executive Officer Magda Chambriard said the Brazilian oil giant can withstand global prices sliding a little lower under Donald Trump.

The U.S. Energy Information Administration revealed its latest Brent spot price forecasts for 2025 and 2026 in its February short term energy outlook.

The report published on Wednesday is the first global energy outlook in two years from the London-based oil and gas giant.

Xcel Energy secured contracts to build high-voltage power lines for three Southwest Power Pool projects in Texas and New Mexico.

VoltaGrid will rapidly deploy more than one GW of power generation capacity across Vantage Data Centers' North American portfolio using its natural gas microgrid technology.

Tamboran achieved record completion results in the Beetaloo Sub-Basin onshore Australia's Northern Territory after stimulating the Shenandoah South 2H sidetrack well.

TotalEnergies finished drilling Tamboti-1X and spudded Marula-1X, both exploration wells in block 2913B - which contains the Venus discovery - on the Namibian side of the offshore Orange Basin.

'This discovery further underscores our continued commitment to explore and appraise for gas resources that support Egypt's energy security and economic growth', said Nader Zaki, BP Regional President for the Middle East and North Africa.