Industry News

The State Oil Company of the Azerbaijan Republic signed an agreement to acquire a 10 percent stake in the producing Baleine field offshore Cote d'Ivoire from Italy's Eni.

Macquarie strategists revealed that they are forecasting that U.S. crude inventories will be up by 2.0 million barrels for the week ending January 16.

Santos expects to produce 101-111 million barrels of oil equivalent this year, compared to 87.7 MMboe in 2025.

Russia said Ukrainian drones hit a Black Sea port, setting four fuel terminals on fire and killing two people.

Oil found support from an improved IEA demand outlook despite a looming surplus.

Turkey's state energy company is in talks with Chevron Corp to jointly explore for oil and gas, according to a Turkish official familiar with the discussions.

Russia said Ukrainian drones targeted the Afipsky refinery in the Krasnodar region overnight.

In its latest STEO, the EIA projected that total U.S. crude oil production will drop in 2026 and 2027.

The new agreements advance WES' transition to fixed-fee arrangements in the maturing basin, The Woodlands, Texas-based company said.

Rigzone talks to several analysts.

In a call to suppliers that closed earlier this month, European and international companies placed offers from over 260 projects, the European Commission said.

OMV Petrom and NewMed Energy signed a deal to sell 10 percent in the Han Asparuh exploration block on Bulgaria's side of the Black Sea to state-owned Bulgarian Energy Holding following a government order.

HSBC analysts, including Kim Fustier, HSBC's Senior Global Oil and Gas Analyst, said they think BP 'could accentuate its shift back to oil and gas and away from low carbon energy' under its new CEO.

Norway's natural gas output averaged about 13 billion cubic feet a day in December, increasing for the third consecutive month sequentially and marking last year's highest monthly production, according to official preliminary figures.

Spikes in borrowing costs following a meltdown in Japanese bonds and a selloff in U.S. Treasuries have prompted at least one Asian borrower to shelve plans to raise funds, underscoring how renewed volatility is rippling through credit markets.

Crude markets balanced Black Sea disruptions against fears of a US-EU trade conflict.

State-owned Kenya Pipeline Co plans to triple capital expenditure on projects to widen its network, increase storage and diversify into natural gas.

Tankers have begun discharging Venezuelan crude at Caribbean islands.

Eli Rubin, an energy analyst at EBW Analytics Group, noted that 'historic cold launche[d]... soaring NYMEX gas futures'.

'While Civette did not meet commercial thresholds, the well provided insights that strengthen our subsurface understanding for the potential of the basin and inform the remaining prospectivity on the CI-502 Block'.