Industry News

The Norwegian majority state-owned energy company said it has identified 'over a hundred new use cases' for AI across its activities.

'The updated midpoint of recoverable resources for the primary reservoir is towards the high end of our previously communicated range of 170-430 million barrels of oil equivalent and the high end of the new range now exceeds 430 MMboe'.

S&P Global Energy's forecast remains unchanged by Venezuela developments, an analysis piece sent to Rigzone by the S&P Global team late Monday stated.

Macquarie strategists, including Walt Chancellor, are forecasting that U.S. crude inventories will be down for the week ending January 2.

The Charlemont trend 'could be among the largest gas pools in the Otway Basin'.

New research using drilling samples points to a widespread Miocene-age petroleum system in the eastern Nordic Seas similar to prolific producing basins offshore West and Central Africa.

The surge was driven by stronger diesel shipments from Baltic ports to nearby markets.

Oil prices fell as traders looked past geopolitics and focused on a growing global surplus.

Chinese buyers shunned offers for Venezuelan crude this week.

'Physical natural gas prices are crashing', EBW Analytics Group Energy Analyst Eli Rubin said.

Trafigura is one of the world's biggest traders of oil, moving an average of 6.6 million barrels a day.

The work to be undertaken by three companies 'will transition the United States away from foreign sources of uranium and diversify the nation's domestic fuel supply', DOE said.

Phillips 66 won a sale supervised by the UK government for the Lindsey refinery and associated assets, under court orders to liquidate several Prax Group businesses.

North America dropped 16 rigs week on week, according to Baker Hughes' latest North America rotary rig count.

'The global oil market in 2026 will not be about Venezuela', SEB Chief Commodities Analyst Bjarne Schieldrop said.

The Italian state-backed company said it had transferred the management of its traditional refineries and depots in the Middle East and Europe to a new company to streamline these assets' decarbonization.

Falcon Australia won shareholder approval for Tamboran's takeover offer, part of a bigger transaction under which Tamboran is to merge with Falcon Australia's parent company and create a 'leading position' in the Beetaloo sub-basin.

The cut comes as OPEC and some of its allies stuck with plans to pause supply increases in the first quarter.

Oil prices rose as geopolitical risks increased following US action against Venezuela.

Denmark's prime minister urged Donald Trump to stop threatening to take control of Greenland.