The latest oil and gas news from around the world.
Updated: 49 min 7 sec ago
Murphy Oil Boasts Debt Reduction as 2023 Net Income Slips
Murphy Oil has slashed its debt by 60 percent since year-end 2020.
Norway December Hydrocarbon Production Beats Forecast
Preliminary Norwegian hydrocarbon production figures for December 2023 showed an average daily production of 2,096,000 barrels of oil, NGLs and condensate.
Aramco Drops Plan to Boost Oil Output Capacity
Aramco abandoned a plan to boost its oil output capacity in a huge reversal that will raise questions about Saudi Arabia's view on future oil demand.
CNOOC Targets Continued Production Growth in Next 3 Years
In 2024, CNOOC expects to have a number of high-quality new projects put into production.
USA Unlikely to Return All Venezuela Sanctions After Ruling
Maduro has jailed aides to the opposition presidential candidate.
Oil Drops as Ample Supplies Offset Middle East Tensions
Oil fell below $77 a barrel after last week's rally pushed futures into overbought territory. At the same time, ample crude supplies outweighed military escalation in the Middle East.
New Jersey Approves Offshore Wind Projects with Over 3,500-MW Capacity
The 2,400-MW Leading Light Wind Project and the 1,342-MW Attentive Energy Two Project are the first wind farms approved by the state this year.
Baker Hughes Data Shows North America Continues to Ramp Up Rig Count
North America added eight more rigs week on week, according to Baker Hughes.
Baker Hughes Beats Estimates on Strong Revenue
The company posted revenue of $6.84 billion for the fourth quarter of 2023, up three percent quarter over quarter and 14 percent year over year.
Industry Claims Climate Blow, Activists Hail Win as US Restricts LNG Export
The API is leading an industry push against Biden's LNG export moratorium, accusing the government of backpedaling on its climate commitment, though climate campaigners welcomed the move.
Macquarie Strategists Flag Mixed Crude View
'Barring an escalation, we anticipate price will stay in its current range for 1Q24 as no supply loss is expected'.
Houthi Hit on Russian Fuel Has Traders Recalculating Risks
The attack means that a greater slice of the three million barrels a day of Russian crude oil and fuel that has been flowing through the Red Sea to reach customers in Asia could be at risk.
Union Says Strike Involving 100+ Drillers is Off
Unite the union revealed that strike action for over 100 offshore drillers employed by Odfjell Technology (UK) Ltd on Equinor's Mariner platform has been called off.
Shell Makes FID to Convert Hydrocracker, Halt Processing in Wesseling
Shell has made a final investment decision to convert the hydrocracker at the Energy and Chemicals Park Rheinland into a production unit for Group III base oils.
Equinor Starts Up Battery Storage Asset in UK
The asset is located in Dorset and is connected to the Southern Electric Power Distribution (SEPD) network.
Ryanair Plans to Buy Up To 100,000 Tons of Eni SAF
Ryanair has bought more SAF after the European Council adopted a regulation requiring airports to gradually raise the share of SAFs in their fuel mix.
Santos Q4 Performance Up Across the Board
Santos' sales revenues rose to $1.43 billion for the fourth quarter.
First Waitsia LNG Cargo Lifts Beach Energy FY24 Q2 Numbers
Beach saw its sales volumes in the second quarter of company financial year 2024 jump 24 percent above the prior quarter as it achieved its first Waitsia LNG cargo.
Europe Demand to Drive $223B Gas Investment in Next Decade: Study
Two US LNG companies — Venture Global LNG and Cheniere Energy — are set to lead spending on new developments going forward.
Vissim Bags Contract with Repsol for Oil Spill Detection System
The upgraded radar-based oil spill detection solution will be installed on the Inspirer jack-up rig located on the Yme oil field in the Central North Sea.
