Industry News

EnCap Flatrock Midstream is considering a sale of gas pipeline company Momentum Midstream for over $5 billion, according to people familiar with the matter.

The Italian company expects to start up the biorefinery, designed to process up to 550,000 metric tons a year of feedstock, in 2028.

Crude oil stocks, not including the SPR, stood at 435.8 million barrels on February 20, the EIA's latest weekly petroleum status report showed.

The Singapore-based offshore energy contractor reported around $256 million in net profit for 2025, up 106 percent from 2024.

'The main industry players can't spend their way out of the problem', Wood Mackenzie warned.

ENGIE signed an agreement to buy UK Power Networks at an equity value of around $14 billion, part of the French multinational utility's efforts to expand its predictable revenue base.

Saudi Arabia is on course to export the most crude in almost three years this month, while Iran has been rapidly filling up tankers in recent days.

Oil prices fluctuated as traders weighed Iran risks and supply signals.

The North Sea crude market is flashing signs of weakness.

U.S. fracking companies are increasingly sending their idle equipment overseas.

Technip Energies announced that it has been awarded a 'major' contract by QatarEnergy.

Ovintiv authorized a new share buyback program totaling $3 billion as it revised its investor return framework following the $2.7-billion acquisition of NuVista.

EOG reported $701 million in net profit and $1.22 billion in adjusted net profit for the fourth quarter (Q4) of 2025, both down sequentially and year-on-year on lower oil and gas price realizations in the U.S.

The U.S. Energy Information Administration projected that U.S. total energy consumption will remain below 2025 levels in both 2026 and 2027.

Iberdrola reported EUR 6.29 billion in net profit and EUR 6.23 billion in adjusted net profit for 2025, up 12 percent and 10 percent respectively against 2024 on the back of an expanded footprint in power distribution in the UK.

GasBuddy released new analysis identifying the cheapest and most expensive days of the week to buy gasoline in all 50 states.

Kosmos retains its interests in offshore exploration blocks EG-01 and EG-24, which it said 'provide exploration opportunities for near-field short-cycle tie-backs'.

Britain targeted 175 companies in the 2Rivers network, according to a statement from the foreign office.

Oil prices fell as traders reacted to renewed Iran nuclear deal speculation and geopolitical tensions.

As recently as mid-December, the prevailing outlook among respected oil watchers was that a huge surfeit was in the making that would send crude prices tumbling.