Industry News

Macquarie strategists are forecasting that U.S. crude inventories will be up by 0.3 million barrels for the week ending May 30.

The cancellations are part of a broader review launched earlier by the DOE targeting nearly 200 awards totaling over $15 billion.

Energy Transfer LNG will supply up to 1.0 million metric tons per annum (mtpa) from its Lake Charles LNG project.

'Chevron aims to place as many employees as possible in other roles and is offering severance pay and transition assistance to those impacted', a company spokesperson told Rigzone.

As part of their new partnership the companies will build an AI lab at the German power and gas utility's headquarters in Duesseldorf.

The European Commission agency executed grant agreements for five of 41 cross-border energy infrastructure projects selected for the CEF for Energy funding program.

North America dropped five rigs week on week, according to Baker Hughes' latest North America rotary rig count.

The Russian state-owned integrated oil and gas company reported around $28.85 billion in revenue for Q1.

QPM Energy executed two funding agreements with foundation customer Dyno Nobel to refinance existing facilities and strengthen QPM's balance sheet.

The energy ministry proposed measures to raise around $6.2 billion from the oil industry over the next two years to help the government meet its fiscal targets.

The fund will support ongoing drilling activities to reach plateau production at the proposed SS Pilot Project.

Oil climbed after OPEC+ increased production less than some had feared and geopolitical concerns flared in Ukraine and Iran.

Interior Secretary Doug Burgum announced the planned policy shift late Sunday at a town hall in Utqiagvik, a village on the Chukchi Sea coast.

Canadian Natural has agreed to sell 140,000 MMBtu per day of natural gas to Cheniere.

Raging Western Canadian wildfires that have forced thousands of people from their homes are now also prompting evacuations from oilsands projects in northern Alberta.

'This acquisition is a natural next step in ADNOC Drilling's growth journey and reinforces our position as one of the leading companies in drilling and integrated services', ADNOC Drilling CEO Abdulrahman Abdulla Al Seiari said.

'We firmly believe Strathcona represents compelling value at this price with a large margin of safety, and that we and the partners in our fund will do very well over the long run'.

'This is the first final LNG export approval under President Trump's leadership and marks another step in restoring regular order to LNG export permitting'.

The transaction is expected to close in the second half.

'Some clients believe that current oil prices are $10 too low, while others argue they are $20 too high', analysts at J.P. Morgan said.