The latest oil and gas news from around the world.
Updated: 33 min 19 sec ago
Sapura Energy Secures $716.7MM of Drilling Contracts
Sapura Drilling has a fleet of five semi-tender rigs and six tender barge rigs.
EIR Downgrades Brent Price Forecast
Enverus Intelligence Research said it has downgraded its Brent price forecast 'due to recent events including OPEC+ production cuts and President Trump's tariffs'.
Valeura Boosts Manora Field Production Capacity
The company said its working-interest oil production before royalties in the Manora field in the Gulf of Thailand has increased from 2,144 bpd in December 2024 to 2,866 bpd.
Accelera, GAIL Partner on Green Hydrogen Development in India
The companies will explore opportunities in hydrogen production, blending, transportation and storage.
Equinor Makes Gas Discovery in Halten Area of Norwegian Sea
Preliminary estimates indicate 19-44 million barrels of oil equivalent recoverable resources.
CNOOC Says Achieved Breakthrough in Buried Hills Exploration in Beibu Gulf
CNOOC declared an oil and gas discovery in the Weizhou 10-5 field, marking a 'breakthrough' in the exploration of Paleozoic buried hills in the Beibu Gulf of the South China Sea.
EU Delays Release of Russia Energy Roadmap as It Weighs US Pivot
'The roadmap is not in the indicative planning, but it is still on and being prepared; only the timing changed in light of latest geopolitical developments'.
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.
