Afreximbank Forms $3B Fund for Africa, Caribbean Oil Import Needs
The financing program aims to help countries in the continent and the Caribbean bridge the cost of importing refined petroleum products.
TotalEnergies Launches Another $2B Buyback Plan even as Profit Falls
CEO Patrick Pouyanne said that reflects TotalEnergies' confidence in its balance sheet despite 'a softening price environment with Brent below $70/b since the beginning of April and an uncertain geopolitical and macroeconomic context'.
Scale, Speed of Spain, Portugal Power Outage Raises Concerns
Rigzone experienced the power outage in Lisbon, Portugal, first-hand.
Oil Market Is Going Through a Critical Phase
'It seems that the global oil market is going through a critical phase', Rania Gule, a senior market analyst at XS.com-MENA, said in a market analysis sent to Rigzone on Wednesday.
Marula-1X Well offshore Namibia Turns Up Dry
Drilling targeted Albian-aged sandstones within the Marula fan complex, some 29.2 miles south of the Venus-1X discovery.
ADNOC Sells $1.5B in Debut Sukuk
ADNOC sold debt compliant with Islamic rules for the first time as the state producer works to diversify funding.
Vitol Steps Up Venezuela Oil Buying Before USA License Lapses
Vitol is set to load at least 2.5 million barrels of Venezuelan oil this month, according to documents seen by Bloomberg.
Oil Slumps as Consumer Confidence Sinks
US consumer confidence weakened sharply, reinforcing fears of slowing oil demand.
Macquarie Strategists Forecast USA Crude Inventory Rise
Macquarie strategists are forecasting that U.S. crude inventories will be up by 4.3 million barrels for the week ending April 25.
Golden Pass LNG Gets FERC Commissioning Permit
QatarEnergy and ExxonMobil secured regulatory approval to commission their Sabine Pass, Texas LNG project.
June Natural Gas Contract 'Jumps Into Front Month Role'
'The May contract rolled off the board at $3.170 yesterday as natural gas buyers awakened from a month-long slumber', Eli Rubin, an energy analyst at EBW Analytics Group, said.
Sockeye-2 Well Flow Test Proves High-Quality Reservoir: APA
The North Slope well averaged 2,700 bopd during a 12-day test.
Oil's Rarest 'Smile' Fascinates Morgan Stanley as Glut Looms
The global oil market is in very rare territory right now.
Offshore TotalEnergies Workers Being Balloted for Strike Action
Unite announced that offshore workers employed by TotalEnergies are being balloted for strike action.
Woodside Reaches $17.5-B Investment Decision on Louisiana LNG
The Australian company approved phase 1, which involves 3 liquefaction trains with a combined capacity of 16.5 MMtpa, out of a total permitted capacity of 27.6 MMtpa.
Crescent Closes Sale of Permian Basin Assets for $83MM
The assets are located in Reeves County, Texas and had projected full-year 2025 production of approximately 3,000 barrels of oil equivalent (boepd).
EnQuest Wins Bidding for 2 PSCs in Indonesia
EnQuest said the award marks its entry into Indonesia, 'a country that offers a broad range of growth opportunities that span the full upstream lifecycle'.
Total USA Petroleum Products Demand Projected to Rise in 2025 and 2026
The EIA expects total U.S. petroleum products consumption to increase in 2025 and 2026.
BP Plans $3-4B of Divestments This Year
'This underpins our confidence in meeting our net debt target of $14-18 billion by the end of 2027'.
North America Loses Rigs for 8 Straight Weeks
The total North America rig count stands at 715, according to Baker Hughes' latest North America rotary rig count.
