OEUK CEO Says UK Must Prioritize Homegrown Energy Over Imports
'We need homegrown energy', David Whitehouse, the chief executive of industry body Offshore Energies UK (OEUK), said.
GE Vernova, NRG Energy Launch JV to Power Data Center, AI Boom
Initially the JV will work to bring online four projects with a combined capacity of 5 GW, to be supplied to the ERCOT and PJM markets.
Pemex Annual Loss Tops $30 Billion
Despite the setbacks, investors have yet to totally abandon Pemex as government financial support is expected to remain steadfast.
Seadrill Sees Quarterly Profit Surge
'With a strong balance sheet, and durable backlog that extends meaningfully into 2029, we are well-positioned to navigate any market volatility'.
WTI Jumps Above $70 on Canada & Mexico Tariff Plan
Oil prices surged as Trump confirmed tariffs on Canada and Mexico, raising concerns about supply disruptions and trade uncertainty.
USA Crude Oil Inventories Drop
Crude oil stocks, not including the SPR, stood at 430.2 million barrels on February 21, the EIA's latest weekly petroleum status report showed.
Trump Says Canada, Mexico Tariffs to Take Effect, Adds New China Duty
Trump's latest tariff threat rattled financial markets.
NNPC Forms Tanker Venture with Nigerian, Swedish Shippers
NNPC signed a deal with Nigerian shipping company Caverton Marine and Sweden's Stena Bulk to create an oil and gas tanker operator that will serve Nigeria and West Africa.
EIA Expects USA NatGas, Petroleum, Renewables Demand to Rise in 2025
The U.S. Energy Information Administration expects U.S. natural gas, petroleum, and renewables consumption to rise in 2025, according to figures sent to Rigzone by the EIA this week.
2 French Firms Team Up to Accelerate SAF Projects
'This will facilitate and accelerate their engagement in SAF procurement'.
Petronas Posts Lower Annual Profit as Weaker Prices Offset Sales Increase
Malaysia's national oil and gas company reported about $12.4 billion in profit after tax for 2024, down 31.74 percent compared to 2023 as lower prices offset higher sales volumes.
Inertia Still Dominates the Oil Markets
'Brent has continued to cling doggedly to the origin of any graph of price changes', analysts at Standard Chartered Bank said.
HSBC Says It's Time to End 'Negative Bias' Toward Fossil Fuels
Julian Wentzel, who was appointed chief sustainability officer at Europe's largest bank this month, says an overly restrictive policy toward fossil fuels puts at risk the reliable supply of energy.
Uniper to Build New Solar Plants in England, Germany, Hungary
Uniper announced five solar generation projects with a combined capacity of about 233 MWp in Germany, Hungary and the UK.
Canacol Aims to Grow Reserve Base in 2025
Canacol said it plans to drill 11 exploration wells and three development wells in the Lower Magdalena Valley Basin this year.
Eni Inks Data Center, RE, Critical Mineral Deals with UAE Companies
The Italian energy major signed deals with UAE companies on data center development, renewable energy transmission through interconnection between Albania and Italy, and critical minerals.
Petrobras Cuts Payout to $1.6B after Surprise Loss
The Brazilian oil producer has joined other majors including Exxon Mobil Corp. and Chevron Corp. who continued to reward shareholders even though free cash flow has become strained at current oil prices.
European Commission Bares Strategy to Lower Energy Costs
The plan would cut the EU's fossil fuel import bill by about $136.06 billion a year by 2030.
Chevron Open to Buying Phillips 66 Chemical Stake
Chevron and Phillips 66 established the CPChem joint venture in 2000 as they combined two mid-size chemicals companies.
Crude Futures Drop as Trade Uncertainty Grows
Oil prices hit a new low for the year as Trump's conflicting trade statements fuel market uncertainty and demand concerns.
