The latest oil and gas news from around the world.
Updated: 3 min 25 sec ago
Court Upholds Petrofac Deal with Creditors
A court upheld a 'voluntary arrangement' between the energy engineering company and certain creditors, in a challenge by UK tax authorities that threatened to delay Petrofac's sale of its Asset Solutions business.
Brent Closes Above $100 Amid Gulf Crisis
Oil surged as Gulf supply disruptions pushed Brent above $100 for the first time since 2022.
USA to Release 172MM Barrels of Oil for IEA Relief Plan
The Trump administration plans to release 172 million barrels from the U.S. emergency oil reserve.
USA Oil, Gas Hiring Remains Disciplined
U.S. oil and gas hiring 'remains disciplined, not aggressive', Brian Binke, the President and CEO of Michigan based the Birmingham Group, told Rigzone.
USA Eyes Hormuz Escorts by April
The U.S. Navy could start escorting tankers through the Strait of Hormuz by the end of this month, Energy Secretary Chris Wright said.
Average USA Gasoline Price Nears $3.6 Per Gallon
The average regular gasoline price in the U.S. is $3.598 per gallon as of March 12, according to the AAA Fuel Prices website.
ExxonMobil Seeks to Move Legal Address to Texas
'We believe Texas legislators, judges and juries that are more familiar with our business are more likely to provide legal certainty'.
Oil Tankers Attacked in Persian Gulf
Two oil tankers were hit in Iraqi waters, the latest in a string of attacks on ships in the Persian Gulf that are raising risks to global energy supply from the deepening Middle East war.
Oil Market Shrugs Off 400MM Barrel IEA Reserve Release
'Threats to the energy structure in the Middle East have kept oil prices bid', Aaron Hill, Chief Market Analyst at FP Markets, said.
Eni Signs Up for 15-Year Biomethane Supply from France
Eni's Plenitude and Seya Group's Methagora signed an agreement under which Italy's Eni will buy 50 gigawatt hours per year of biomethane over 15 years from Methagora's French production.
Oman Evacuates Oil Port as Ships Hit in Gulf
Two crude tankers were hit in Iraqi waters and Oman's key oil export terminal was evacuated, as risks to global energy supply from the Middle East war deepened.
Equinor Proves More Oil and Gas around Sleipner, Troll
Equinor discovered more oil, gas and condensate on Norway's side of the North Sea, with plans to extract the resources via existing infrastructure in the Sleipner and Troll areas.
EIB to Shell Out $87B in Clean Energy Financing over 3 Years
The European Commission adopted a new Clean Energy Investment Strategy under which the European Investment Bank is expected to roll out EUR 75 billion over the next three years.
Refiners Hold Off Buying Oil as Prices Surge
Refiners are beginning to balk at eye-watering premiums on available oil barrels.
Crude Settles Higher as Conflict Grows
Oil climbed sharply as traders focused on supply disruptions from the Iran conflict despite a massive global reserve release.
IEA to Release Record 400MM Barrels From Oil Reserves
The International Energy Agency agreed to discharge 400 million barrels from emergency oil reserves.
North America Drops 8 Rigs WoW
North America dropped eight rigs week on week, according to Baker Hughes' latest North America rotary rig count.
Uniper Proposes Resumption of Dividend Payments
'Our earnings base is now stable and normalized'.
Wood Now Part of Sidara
The Aberdeen-based energy and industrial engineering and consulting company remains 'a standalone business while benefiting from Sidara's global scale and long-term owner-operator mindset', Sidara said.
EIA Boosts Brent Forecast in Wake of Iran Conflict
The U.S. Energy Information Administration increased its Brent spot price forecast for 2026 and 2027 in its latest short term energy outlook.
