Industry News

The Canadian integrated oil producer reported about $932.94 million, or CAD 2.52 per diluted share, in net income for Q1.

The state oil producer's main workers union said the tax agency is charging Ecopetrol for VAT on gasoline imported since 2022 to supply the local market.

The famed investor delivered a more than 5,500,000% return on Berkshire's stock as he turned a once-failing textile firm into the most valuable company in the world that isn't either a tech giant or state oil producer.

OPEC+ agreed to a second major supply increase, fueling fears of a global oil glut.

'We are delighted to sign QatarEnergy's first 25 year condensate sales agreement', said Saad Sherida Al-Kaabi, the Minister of State for Energy Affairs and the President and CEO of QatarEnergy.

EOG Resources reported a net income of $1.46 billion and a revenue of $5.67 billion for the first quarter of 2025.

The Nigerian company reported $809.3 million in revenue for Q1, up 350 percent from the same three-month period in 2024 as higher oil and gas volumes offset lower prices.

The European Union is set to propose measures to ban Russian gas imports by the end of 2027.

The liquefaction plant is primarily intended to serve the marine fuel market as the first liquefied natural gas (LNG) bunkering hub in the Middle East.

Technip Energies will provide detailed engineering design for two offshore compression complexes.

'Due to the rapid natural gas stockpile build and a looser fundamental outlook we have revised our 2025 Henry Hub annual average price forecast', BMI analysts said.

'Both Brent crude and WTI fell back toward the four-year lows last seen in the aftermath of the March sell-off', Ole Hansen, Saxo Bank's head of commodity strategy, said.

The projects in the industrial cities of Mesaieed and Ras Laffan will raise Qatar's solar power production capacity to 1,675 MW.

ADNOC's gas processing and sales arm reported $1.27 billion in net profit for Q1, up 7 percent from the same three-month period last year.

The GECF projects a 2 percent increase in natural gas consumption in 2025 on continued growth in the power and industrial sectors.

Shell is reportedly working with advisers to evaluate a potential acquisition of BP, though it's waiting for further stock and oil price declines before deciding whether to pursue a bid.

INEOS said all ship sections of Europe's first CO2 carrier have been successfully assembled in the Netherlands.

Output grew 14 percent year-on-year to 96,500 boed, including 39,100 bpd of oil, which are quarterly production records for Magnolia.

House Republicans plan to raise more than $15 billion in revenue through increasing U.S. oil, gas and coal lease sales, as well as other measures.

OPEC+ is weighing another 400,000 bpd production increase, rattling already weak markets.