Industry News

Ottawa will commit to ship more crude oil, LNG and LPG to India, while New Delhi will send more refined petroleum products to Canada.

Markets remain cautious as global supply growth continues to outpace demand.

Ukraine said it hit a small oil refinery in southern Russia.

Saudi Aramco priced a $4 billion bond sale, its first note sale this year, as the world's largest oil producer steps up borrowing to fund investment and dividends.

Aramco is launching its first bond sale of the year.

World petroleum and other liquid fuels production will outweigh consumption by 2.83 million barrels per day in 2026, according to the EIA's January short term energy outlook.

Enverus announced that it has released its annual list of 'the top public onshore exploration and production companies in the U.S. based on gross operated production last year'.

'While historically dominated by lignite and gas, the country is accelerating renewable development, with solar and wind capacity projected to reach around 60 GW by 2060'.

'Weather has re-entered the equation in force', SEB Commodities Analyst Ole R. Hvalbye told Rigzone in an exclusive interview on Monday.

The South Korean downstream company reported 'robust fuel and lube spreads'.

OMV Petrom and NewMed Energy consummated the sale of 10 percent in the Han Asparuh exploration block on Bulgaria's side of the Black Sea to state-owned BEH in compliance with a government order.

The Spanish utility completed a transaction selling its Hungarian business for around $202 million to a consortium of iG TECH Capital and Premier Energy as part of its strategy to refocus investment on more stable markets.

Major buyers including Gail India and Bharat Petroleum have been pushing for lower prices and more flexible long-term contracts, leaving discussions with LNG producers stalled for more than a year, according to people familiar with the matter.

Uniper and TenneT agreed to develop a new central network node in Grosskrotzenburg to serve data center-driven growth in power demand in the greater Frankfurt area.

The Trump administration said it's canceling almost $30 billion of financing from the Energy Department's green bank after reviewing transactions approved under former President Joe Biden.

Crude settled higher as renewed Iran tensions and winter weather lifted the geopolitical risk premium despite lingering supply glut concerns.

The worst may be behind the global oil market, Chief Executive Officer Olivier Le Peuch said in a statement.

U.S. natural gas futures for February delivery surged by 70 percent this week as the market braced for a historic winter storm.

Natural gas prices for near-term delivery at regional trading hubs across the U.S. jumped as the market braced for a historic winter storm.

Crude oil stocks, not including the SPR, stood at 426.0 million barrels on January 16, the EIA's latest weekly petroleum status report showed.