The latest oil and gas news from around the world.
Updated: 36 min 19 sec ago
Transocean to Buy Valaris in Near $6B Deal
'The powerful combination is well-timed to capitalize on an emerging, multi-year offshore drilling upcycle', said Keelan Adamson, Transocean President and Chief Executive Officer.
BP Halts Share Buybacks
BP Plc is halting share buybacks to shore up its balance sheet.
Oil Settles Higher as Hormuz Risks Resurface
Oil prices closed higher after the US warned ships to avoid Iranian waters near the Strait of Hormuz.
OEUK Flags 'Prolonged Bout of Severe Weather' in North Sea
'Although we get this sort of weather every two or three years or so, it can be quite uncomfortable', OEUK Health and Safety Manager Graham Skinner said.
Vitol Pushes Back Peak Oil Demand Forecast
The world's largest independent oil trader Vitol Group said oil demand will take longer to peak than it previously estimated.
Russia Crude Output Shrinks
Russia's crude output declined for a second straight month in January.
North America Increases Rig Count
North America added one rig week on week, according to Baker Hughes' latest North America rotary rig count.
ADNOC Gas Announces 'Record' Net Income
ADNOC Gas plc announced a 'record' net income of $5.2 billion for 2025.
More Indian Refiners Take Venezuelan Oil
Indian Oil Corp. and Hindustan Petroleum Corp. jointly bought a cargo of Venezuelan crude.
USA Natural Gas Extends Decline
U.S. natural gas dropped for a second session on the outlook for warmer temperatures across large parts of the country.
Oil Servicers Look to Middle East for Growth
The world's largest oilfield-service providers are looking to production increases in the Middle East to help offset a slowdown in U.S. shale.
Phillips 66 to Cut Nearly 300 Jobs as LA Refinery Shuts
Phillips 66 will lay off around half of its employees at its sole remaining oil refinery in California after shuttering operations.
WTI, Brent Gain as Talks Ease Conflict Fears
Markets balanced geopolitical tension with signs of steady global oil demand.
Shell to Pause Kazakh Oil and Gas Investments
Shell will pause investment in Kazakhstan as it navigates legal claims from the OPEC+ nation against oil majors that could stretch into the billions of dollars, Chief Executive Officer Wael Sawan said.
Saudis Cut Key Oil Price for Asian Buyers
Saudi Arabia cut the price of its main oil grade for buyers in Asia to the lowest in years.
BP, KOC Sign ETSA Extension
The agreement 'paves the way for both companies to collaboratively progress Kuwait's most strategic asset fields'.
IPAA Promotes Naatz to Chief Policy Officer
The Independent Petroleum Association of America announced that Dan Naatz has been promoted to Executive Vice President and Chief Policy Officer.
Tankers With Russian Oil Flock to East Asia
More than a dozen tankers loaded with Russian Urals oil are sailing toward Asia or idling along the route.
Energy Complex Not Immune to Broad Commodities Sell-Off
The energy complex was not immune to the broad sell-off in commodities over the past week, Standard Chartered Bank Energy Research Head Emily Ashford said.
Tankers Speed Through Hormuz Chokepoint
Very Large Crude Carriers are traveling around the narrow, congested waterway - through which about a quarter of the world's seaborne oil trade travels - at as much as 17 knots, ship-tracking data show.
