The latest oil and gas news from around the world.
Updated: 40 min 34 sec ago
WTI Rebounds 2% on Supply, Geopolitical Shifts
Oil rose 2% as US sanctions on Iran supported prices and markets rebounded.
Chevron, TotalEnergies Start Up Ballymore offshore Louisiana
Chevron and TotalEnergies unlocked new production of up to 75,000 barrels a day of oil and 50 million cubic feet a day of gas with the startup of the deepwater Ballymore field.
May Natural Gas Contract 'Flirting With $3 Psychological Level'
Eli Rubin, an energy analyst at EBW Analytics Group, said the May natural gas contract is 'flirting with [the] $3.00 per million British thermal units (MMBtu) psychological level'.
Avangrid Expands Power Purchase Deal with CPS Energy
The US' largest municipally owned provider of electric and natural gas services doubled its power offtake from Avangrid to 320 MW.
Venture Global Issues $2.5B Bonds
The debt instrument sale comes after Venture Global proposed an investment of about $18 billion to grow Plaquemines LNG's capacity to over 45 MMtpa.
China Owned Supertankers Face $5.2MM in Fees Per USA Call
Made in China oil supertankers are set to be slapped with more hefty charges under America's latest proposal to penalize ships manufactured in the Asian nation.
Evolution Petroleum Closes $9MM Acquisition of Texas, Louisiana Assets
The acquired assets add around 440 net barrels of oil equivalent of stable, low-decline production, consisting of 60 percent oil and 40 percent natural gas.
ADNOC Drilling Secures $1.63B Contract from ADNOC Offshore
The contract covers the provision of directional drilling, drilling fluids, cementing, wireline logging and tubular running services.
USA DOI Announces 11th OCS Oil and Gas Leasing Program
'Launching the process to develop the 11th national outer continental shelf program marks a decisive step toward securing American energy dominance', Secretary of the Interior Doug Burgum said.
Naftogaz Secures 14 Bcf of Gas for Heating Season
'Since the beginning of the year, 1.5 billion cubic meters of gas have been contracted... 400 million cubic meters will be delivered to Ukraine as part of the winter readiness plan'.
Macquarie Strategists Forecast USA Crude Inventory Drop
Macquarie strategists revealed that they are forecasting that U.S. crude inventories will be down for the week ending April 18.
Anaergia to Build 9 Biogas Plants in Europe for Capwatt
Capwatt signed a binding letter of intent to contract Anaergia to build 9 biogas plants in Italy, Portugal and Spain with a combined capacity of 556,000 mWh a year.
Hanwha Seizes Chance to Build US LNG Tankers
The South Korean shipbuilder plans to construct the first US-built LNG tanker, following sweeping recommendations from a U.S. trade agency that would aim to combat China's dominance in the industry.
ScottishPower Taps HSM Offshore Energy for East Anglia II Substation
HSM Offshore Energy will deliver the offshore substation of the East Anglia II wind farm in the North Sea.
Russia Expects Fewer Exports and Lower Oil Prices This Year
Russia downgraded its outlook for exports this year and lowered expectations for the price for its oil.
Oil Slips on Risk-Off Mood, Fed Uncertainty
WTI crude dropped 2.5% on demand fears and rising global economic uncertainty.
Uniper Signs Up for 2 MMtpa of LNG from Woodside
Woodside will deliver 1 MMtpa from Louisiana LNG and the remaining half from its global portfolio.
North America Loses Rigs for 7 Straight Weeks
North America dropped two rigs week on week, according to Baker Hughes' latest North America rotary rig count.
Valero Mulls Shutdown of California Refinery, Books $1.1B Impairment
Valery said it may end fuel production at its Benicia refinery next year and is evaluating 'strategic alternatives' for its assets in California.
Oil Traders Lurch From Praying for Volatility to Drowning in It
Until recently, oil traders complained that it was almost impossible to wring profits out of a listless and rangebound crude market.
