EIA Ups Brent Price Forecast, Still Sees Drop in 2026
In its latest STEO, the EIA increased its Brent price forecast for 2025 and 2026 but still projected that the commodity will drop next year compared to 2025.
BP Starts Up Atlantis Expansion Project in US Gulf
'Atlantis Drill Center 1 caps off an excellent year of seven major project start-ups for BP'.
USA Crude Oil Stocks Drop Nearly 2MM Barrels WoW
Crude oil stocks, not including the SPR, stood at 425.7 million barrels on December 5, the EIA's latest weekly petroleum status report showed.
USA Crude Oil Stocks Drop Nealy 2MM Barrels WoW
Crude oil stocks, not including the SPR, stood at 425.7 million barrels on December 5, the EIA's latest weekly petroleum status report showed.
Brazil Oil Output Rebounding from Outages
Brazilian oil output is rebounding from outages that removed more than 300,000 barrels a day last month, highlighting how Latin America's largest crude producer can confound OPEC efforts to micromanage the market.
TechnipFMC Bags Production Systems Contract for Gorgon Stage 3
TechnipFMC won a 'significant' contract from Chevron for a recently approved project to expand the Gorgon domestic and liquefied natural gas project in Western Australia.
CPTech Gets US, Saudi Patents for Pyrolysis Oil Upgrading Method
CPTech secured patents in Saudi Arabia and the U.S. for its core pyrolysis oil upgrading process, part of its campaign to produce sustainable aviation fuel from plastic waste.
Crude Settles at October Lows
WTI and Brent fall as bearish fundamentals eclipse geopolitical headlines.
Ukraine Attacks Russian Offshore Oil Field
Ukraine attacked Lukoil PJSC's Filanovsky oil field in the Caspian Sea, according to a person familiar the matter.
BP, Chevron Top US Gulf Lease Sale
'The strong bidding we saw today reflects sustained industry confidence in the long-term potential of the U.S. outer continental shelf'.
GasBuddy Flags 'Fresh Multi-Year Low' for USA Gasoline Price
'Gas prices continued to decline in most states last week', GasBuddy Head of Petroleum Analysis Patrick De Haan said.
IEA Cuts Forecast of Record Oil Glut for 1st Time Since May
The International Energy Agency trimmed estimates for a global oil supply surplus this year and next for the first time in several months.
Oil Price Did Not Shift on Fed Cut
'Fundamentals are still the primary drivers of change in commodity markets, with the price of oil not shifting based on the Fed's cut', Rystad said.
Aramco, ExxonMobil Mull Petrochemical Complex at Samref
'The companies will explore capital investments to upgrade and diversify production, including high-quality distillates that result in lower emissions and high-performance chemicals'.
NSTA Launches 2nd UK Carbon Storage Licensing Round
'We are proud to be launching this licensing round', NSTA Chief Executive Stuart Payne said.
Naftogaz Seals New PrivatBank Loan for Winter Gas
'To get through the winter steadily, Naftogaz needs to import 4.4 billion cubic meters of gas, with a total cost of about EUR 1.9 billion'.
Shell Plans to Cut CPC Pipeline Partnership with Rosneft
Shell will still keep the stake in the Caspian Pipeline Consortium - rather than own it jointly with the sanctioned Russian energy giant, people with knowledge of the matter said
CNOOC Ltd Announces 12th Startup in Chinese Waters in 2025
Including two projects in Brazilian waters and Guyana's Yellowtail, the publicly listed arm of China National Offshore Oil Corp has now announced 15 upstream startups in 2025.
Crude rises after US seizes Venezuelan tanker
Gains were capped by record US production and continued buying of Russian barrels by Indian refiners.
South Sudan Oil Exports at Risk
South Sudan's oil exports faced a new threat.
