The latest oil and gas news from around the world.
Updated: 29 min 47 sec ago
Exxon, Chevron Surpass Forecasts as Shale Drilling Lifts Output
Exxon Mobil Corp. and Chevron Corp. surpassed earnings forecasts.
Hess Starts Up New Guyana Project, but Profit Down on Lower Prices
Hess reported $413 million in net income for the fourth quarter of 2023.
USA Crude Oil Inventories Increase
U.S. crude oil stocks, not including the SPR, stood at 421.9 million barrels on January 26, according to the EIA.
Exxon Foray Into Energy Trading Is Starting to Pay Off
Exxon Mobil Corp's expanding trading operation boosted fourth-quarter earnings by more than $1 billion.
Kumul Given More Time to Settle Payment of PNG LNG Stake Purchase
Santos has agreed to provide additional time for Kumul to pay the full purchase price of its stake acquisition in PNG LNG.
Pioneer Energy Closes Sale of Field Gas Conditioning System
The Pegasus system conditions field gas into consistent, high-quality fuel to be used in place of diesel for hydraulic fracturing fleets.
IER Policy Manager Issues Oil Price Warning
The Manager of Policy and Communications at the Institute for Energy Research has issued an oil price warning.
WoodMac Says Aramco Capacity Shift Is Likely to be Absorbed by Market
'This is an astute time to abandon the 13 million barrel per day capacity target'.
Innio Powers Coal-to-Gas Conversion Project for Poland's PGE
Austria-based Innio Group is supplying five Jenbacher J920 FleXtra engines to power a 50 megawatts equivalent (Mwe) combined heat and power (CHP) project.
Eni, Var Energi Close Acquisition of Neptune Operations
Eni S.p.A. has closed the acquisition of Neptune Energy Group Limited, while Var Energi ASA has completed the acquisition of Neptune Energy Norge AS.
Pemex Sets Goal to Cut Oil and Gas Emissions by Nearly Half by 2027
Pemex's goals include reducing its greenhouse intensity index in oil and gas production 48 percent by 2027, as well as in refining processes 36 percent by 2027.
Uptick in Fossil Fuel Share in EU in 2022 Exceptional: Commission
The share of fossil fuels in energy consumption in the European Union in 2022 stood at 70.9 percent.
Eni to Build Third Biorefinery in Italy
The proposed project in the port city of Livorno has a planned processing capacity of 500,000 metric tons annually.
Technip Energies Bags FEED Contract for Viking CCS in UK
Technip Energies will provide FEED services for the carbon dioxide transportation system, including the CO2 handling station.
Oil Drops on Conflicting Reports of War Ceasefire
Oil fell after a choppy session as traders assessed conflicting reports of progress on an agreement to pause the Israel-Hamas war and release hostages.
OPEC+ Nations Set to Decide on Extending Cuts in Early March
Oil prices have seen only limited gains this year.
Permian Resources Sells Non-Core Assets
Permian Resources gave up non-core assets in the Eagle Ford shale play while acquiring mostly-undeveloped acreage, in separate transactions it said will optimize its portfolio.
What Is the Impact of Oil Shipments Having to Go Around Africa?
'Egypt will suffer significantly as traffic through the Suez Canal declines significantly'.
Qatar Awards $6B Build Contracts for Key Oil Field
QatarEnergy has awarded contracts worth over $6 billion for main works in the next-phase development of the Gulf state's biggest oil field.
