The latest oil and gas news from around the world.
Updated: 44 min 32 sec ago
Var Energi Plans 20 New Projects to Sustain Norway Production
CEO Walker said he wants to give the go-ahead to 20 projects 'over the next few years', targeting output of 350,000-400,000 barrels of oil equivalent a day through 2030 and beyond.
O'Neill Leaves Woodside to Become BP CEO
O'Neill's takeover from Auchincloss marks the oil and gas giant's third CEO change in two years.
Crude Climbs as US Threatens Russian and Venezuelan Flows
Crude rebounded from multi-year lows, though traders remained cautious amid surplus expectations.
EIA Raises 2025 Henry Hub Price Forecast
In its latest short term energy outlook, the U.S. Energy Information Administration increased its Henry Hub spot price forecast for 2025.
Imperial Expects Up To $1.6B Capex for 2026
'The company's strategy remains focused on maximizing the value of its existing assets and progressing advantaged high-value growth opportunities while delivering industry-leading returns to shareholders'.
Where Will USA Gasoline Price Land on Christmas?
GasBuddy projected what the average U.S. gasoline price will be on December 25.
3D Energi Secures Investor Commitments for $10MM Capital Raise
New institutional investors and existing shareholders committed to participating in a share issuance to raise AUD 14.5 million for 3D Energi's drilling campaign offshore Victoria.
Strategists Forecast Week on Week USA Crude Build
Macquarie strategists, including Walt Chancellor, revealed that they are forecasting that U.S. crude inventories will be up for the week ending December 12.
USA Readies New Russia Sanctions If Putin Rejects Deal
A raft of sanctions imposed on Russia since it launched its full-scale war against Ukraine in 2022 haven't changed Putin's calculus so far.
Trump Orders Blockade of Sanctioned Oil Tankers in Venezuela
U.S. President Donald Trump ordered a blockade of sanctioned oil tankers going into and leaving Venezuela.
Shell Adds New Gas Customer in Nigeria
Shell secured a deal to supply an undisclosed volume of gas to 'a leading steel company' in Ogun's Guandong industrial zone.
Wood Says Mideast Contract Wins Exceeded $1B in 2025
Despite financial troubles, 'clients have continued to award us significant work with an order book at 30 June 2025 of $6.5 billion'.
EU to Scrap Combustion Engine Ban
The EU is set to propose softening emissions rules for new cars, scrapping an effective ban on combustion engines following months of pressure from the automotive industry.
Oil Sinks as Oversupply Pressures Intensify
Oil settled sharply lower as growing supply and fragile demand pushed WTI below $55 a barrel.
Russia Oil Prices Hit Lowest Since War Began
Russian crude prices are at their lowest since the war in Ukraine began.
EIA Again Raises WTI Price Forecast for Both 2025 and 2026
In its latest short term energy outlook, the U.S. Energy Information Administration again raised its West Texas Intermediate price forecast for both 2025 and 2026.
Phillips 66 Budgets $2.4B for 2026
'We are investing growth capital in our NGL value chain and high-return refining projects'.
Chevron Reduces Price for Venezuelan Oil
Chevron lowered the price of Venezuelan crude offered to U.S. refiners after a tanker was seized by American forces in the Caribbean.
USA Emerges as World's Hydrocarbon Superpower
The U.S. has emerged as the world's hydrocarbon superpower, Wood Mackenzie said.
North America Rig Count Stays Flat
North America's rig count stayed flat week on week, according to Baker Hughes' latest North America rotary rig count.
