The latest oil and gas news from around the world.
Updated: 36 min 2 sec ago
Lummus to Provide Cumene Tech to IndianOil
The new cumene unit will be part of a grassroots petrochemical and polymers expansion at IndianOil's complex in Paradip, India.
North America Posts Fresh Rig Losses
North America lost 15 rigs week on week, according to Baker Hughes.
Aramco Eyes Petrochemical JV with China's Rongsheng
Aramco is also exploring significant investments in the Saudi and Chinese petrochemical sectors in partnership with Rongsheng.
Chevron Unit Starts Wellhead Pressure Project in Kazakhstan
The project lowers the flowing pressure at the wellheads and then boosts the pressure to the existing plants.
Phillips 66 Misses Estimates, Plans to Sell Non-Core Assets
Phillips 66's adjusted earnings per share (EPS) for the quarter was $1.90, compared to adjusted EPS of $4.21 in the first quarter last year.
Next USA LNG Export Plant Aims to Begin Production in Mid-2024
Venture Global LNG Inc. expects to begin production at its second liquefied natural gas export facility in Louisiana in mid-2024.
Beach Energy On Track to Deliver 30 Pct Headcount Reduction
Beach Energy said it is on track to deliver a 30 percent headcount reduction.
Standard Chartered Looks at Geopolitical Risk in Oil
'After jumping at geopolitical shadows and overreacting in 2022, the market has been more stoic in 2024 so far', Standard Chartered said.
Eni Sees Profit Nearly Halved YoY, Bumps Up Repurchase Plan
Eni posted $1.3 billion in net income for the first quarter.
TotalEnergies Increases Profit to $5.7B despite Lower Gas Prices
TotalEnergies' net income rose three percent YoY and 13 percent QoQ.
Pemex Ekes Out Profit as Production Falls
Mexico's state-owned Pemex posted a profit of $274 million for Q1.
European Commission Warns Five States over RE, Electricity Rules Compliance
The European Commission has issued fresh warnings to five member states over their purported shortcomings in adopting EU directives on renewable energy and the power market.
Repsol Acquires Stakes in Two Venezuela Fields
Repsol signed a deal with PDVSA that adds two fields to its operations, which in the next few months are expected to produce 20,000 bpd.
Afentra Progresses Angola Stake Acquisition
Afentra PLC has received approval from the Angolan government for the acquisition of a 12 percent non-operating interest in Block 3/05 and a 16 percent non-operating interest in Block 3/05A.
Oil Posts Weekly Gain as Market Tightens
Oil rose this week amid signs of a tightening physical market while traders continue to assess lingering Middle East risks.
Sintana to Acquire Stake in Namibia Orange Basin Blocks
The acquisition provides Sintana with 'an attractive entry into a high impact license with significant upside'.
Matador Boosts YOY Profit, Production in First Quarter
The year-over-year increase is due not only to the Advance Energy acquisition that closed in April 2023 but also to increased production from new wells.
DOI Earmarks $37MM to Plug Orphan Wells in 3 States
The grants are the first phase of formula grant funding for Kentucky, Mississippi, and Missouri to clean up legacy pollution.
Biden Rules on Fossil Fuel Plants Collide with Power Demand
A new regulation will force coal plants to capture nearly all of their CO2 emissions - or close - by 2039, with similar pollution cuts for many of the new gas-fired plants built to replace them.
Chevron Veteran Satterwhite Named New President of EnergyX
EnergyX brought former Chevron veteran Allen Satterwhite to its executive team.
