The latest oil and gas news from around the world.
Updated: 8 min 13 sec ago
Gasoline-Starved California Turning to Fuel From Bahamas
U.S. supplies of gasoline are being shipped out of the country to travel thousands of miles via the Bahamas before finally ending up in California.
North America Drops 6 Rigs Week on Week
North America dropped six rigs week on week, according to Baker Hughes' latest North America rotary rig count.
Aramco Commits to 1 MMtpa for 20 Years from Commonwealth LNG
Aramco Trading signed a 20-year agreement to buy one million metric tons per annum of liquefied natural gas from the under-development Commonwealth LNG in Louisiana.
Enbridge Q4 Profit Up YoY
Enbridge cited 'favorable gas transmission contracting' compared to the fourth quarter of 2024.
Analyst Highlights Focus of IEW Event
IEW, which was hosted by the Energy Institute, took place from February 10-12 at the QEII Center in London.
Hungary Asks Croatia to Allow Russian Crude Shipments
Hungary requested that Croatia allow the shipment of Russian crude via the Adriatic pipeline while a key route through Ukraine remains blocked, Hungary's foreign affairs minister said.
Philippines Announces New Project Pipeline under 10-Year RE Auction
The DOE announced new award plans under a 10-year auction for renewable energy development, with over 3,200 MW of non-floating solar capacity targeted to be built between 2027 and 2028.
BP, Eni Discover More Oil offshore Angola
'The Algaita-01 results build on a long successful track record of 22 discoveries, once again confirming the exceptional effectiveness of the petroleum system in Block 15/06'.
Naftogaz Seeks USA Funds to Renovate Destroyed Plants
At least ¢ã3 billion ($3.5 billion) of damage has been done to Ukraine's facilities, with equipment needs exceeding ¢ã900 million, according to the company.
VEN Plans to Grant More Oil Blocks to Chevron and Repsol
Chevron and Repsol already have extensive holdings in Venezuela.
Oil Posts Second Straight Weekly Drop
Oil recorded its first consecutive weekly decline of the year as supply concerns resurfaced.
Baker Hughes Explores $1.5B Sale of Waygate Unit
Baker Hughes Co. is exploring a potential sale of its Waygate Technologies unit, which provides industrial testing and inspection equipment, people with knowledge of the matter said.
Reliance Gets USA License to Directly Buy VEN Crude
Reliance has historically been an important consumer of the country's heavy crude.
EIA Raises 2026 WTI Forecast, Lowers 2027 Projection
The EIA now sees the WTI spot price averaging $53.42 per barrel this year.
Some OPEC+ Members See Scope to Resume Hikes in April
Some OPEC+ members see scope for the alliance to resume supply increases in April.
ADNOC Drilling Delivers 'Best Year on Record'
ADNOC Drilling said it had delivered its 'best year on record with 2025 net profit of $1.45 billion'.
Market Positioning Itself for Period of Higher Geopolitical Risk
'This is evident in both the gradual push higher in flat price, adjustments in the forward curve and volatility skew', Standard Chartered Bank Energy Research Head Emily Ashford said.
Oil Trading Giants Say Sanctions Driving Up Prices
A ramp-up of sanctions pressure on Russia and Iran has tightened the screws on flows from the two nations over the past few months.
Oil Drops Amid Supply And Equity Jitters
Oil prices fell as investors turned cautious on Iran risks and weaker equities.
ADNOC May Expand LNG Tanker Fleet
Abu Dhabi National Oil Co.'s shipping arm is evaluating the purchase of liquefied natural gas tankers.
