The latest oil and gas news from around the world.
Updated: 36 min 5 sec ago
JP Morgan Says Global Oil Demand 'Surged' to Over 101MM Bpd in January
'The early signs are promising, hinting that this upward momentum will carry into February', analysts at J.P. Morgan said.
ConocoPhillips Q4 Profit Down YoY as Lower Prices Offset Higher Volumes
ConocoPhillips reported $2.31 billion in net income for Q4 2024, down from $3 billion for the same three-month period a year ago as weaker prices and higher costs offset stronger production.
Reelwell, Odjfell Technology Secure Contract with Var Energi for Pipe Tech
The initial contract covers operations on Var Energi's COSLPioneer rig for one year, with the option of four additional one-year extensions.
Obsidian Energy Boosts Reserves After Peace River Acquisition
'Volume and value increases across all our reserves categories reflect the high level of development activity and success of our 2024 capital program'.
DNO Posts Loss for Q4 after Impairments, Depreciations
DNO reported a net loss of $98.4 million for the fourth quarter of 2024, mainly driven by an impairment from an Iraqi license and depreciation of North Sea assets.
USA Crude Oil Inventories Rise by Almost 9MM Barrels WoW
Crude oil stocks, not including the SPR, stood at 423.8 million barrels on January 31, according to the EIA.
China Oil Teapots Cut Run Rates to Pandemic Levels
Private oil processors in China have slashed their operating rates to levels last seen at the beginning of the pandemic, as U.S. sanctions on Russia cut a key source of crude supply.
CNOOC Says World's Biggest Buried Metamorphic Hill Oilfield Now Producing
Producing light crude, Bozhong 26-6 is expected to reach 22,300 barrels of oil equivalent a day in peak production this year.
China Oil Teapots Cut Rates to Pandemic Levels
Private oil processors in China have slashed their operating rates to levels last seen at the beginning of the pandemic, as U.S. sanctions on Russia cut a key source of crude supply.
Oil Dips as Trump's Iran Plans, Vow to Lift Output Swing Market
Prices swung wildly during the session.
BP to Sell German Refining, Chemicals Assets on High Costs
BP Plc plans to sell oil refining and chemical assets in Germany.
Senate Confirms Wright as New USA Energy Sec
Wright was confirmed by the Senate in a Yea-Nay vote of 59 - 38, the Congress.gov site revealed.
BKV Names New CFO
BKV named a new chief financial officer as John T. Jimenez is set to retire on May 15.
Intensity Gets EIV Capital Backing
The investment will allow Intensity to acquire, construct, and operate midstream assets in the United States.
Alliance Resource Partners Q4 Profit Down on Weaker Coal Sales
Oklahoma-based coal producer Alliance Resource Partners reported $16.3 million in net income for the fourth quarter of 2024, a year-on-year decrease of 86 percent.
Quebec Says It's Open to LNG, Oil Projects After Trump Threats
Quebec Environment Minister Benoit Charette said the government of the Canadian province is open to reconsidering two major energy infrastructure projects that it previously rejected.
Enterprise Products Posts Record Midstream Volumes in 2024
The partnership reported net income attributable to common unitholders of $5.9 billion for 2024, a 7 percent increase year over year compared to $5.5 billion in the previous year.
Equinor to Restrain Renewables Activity in Favor of Value Creation
Equinor cut its goal for installed renewable energy capacity to 10-12 GW by 2030 and binned a plan to allot 50 percent of capital to renewables and low-carbon solutions by the end of the decade.
New Interior Secretary Advances Trump Agenda, Signs 6 Orders
A statement posted on the DOI's site this week announced that U.S. Secretary of the Interior Doug Burgum 'advanced President Trump's agenda by signing six Secretary's Orders'.
ONEOK-MPLX JV to Build Texas LPG Export Terminal
The LPG terminal, to be constructed in Texas City, Texas, will have a capacity of 400,000 barrels per day (bpd) and will connect to ONEOK's Mont Belvieu storage facility via a new 24-inch pipeline.
