The latest oil and gas news from around the world.
Updated: 2 min 10 sec ago
Inertia Still Dominates the Oil Markets
'Brent has continued to cling doggedly to the origin of any graph of price changes', analysts at Standard Chartered Bank said.
HSBC Says It's Time to End 'Negative Bias' Toward Fossil Fuels
Julian Wentzel, who was appointed chief sustainability officer at Europe's largest bank this month, says an overly restrictive policy toward fossil fuels puts at risk the reliable supply of energy.
Uniper to Build New Solar Plants in England, Germany, Hungary
Uniper announced five solar generation projects with a combined capacity of about 233 MWp in Germany, Hungary and the UK.
Canacol Aims to Grow Reserve Base in 2025
Canacol said it plans to drill 11 exploration wells and three development wells in the Lower Magdalena Valley Basin this year.
Eni Inks Data Center, RE, Critical Mineral Deals with UAE Companies
The Italian energy major signed deals with UAE companies on data center development, renewable energy transmission through interconnection between Albania and Italy, and critical minerals.
Petrobras Cuts Payout to $1.6B after Surprise Loss
The Brazilian oil producer has joined other majors including Exxon Mobil Corp. and Chevron Corp. who continued to reward shareholders even though free cash flow has become strained at current oil prices.
European Commission Bares Strategy to Lower Energy Costs
The plan would cut the EU's fossil fuel import bill by about $136.06 billion a year by 2030.
Chevron Open to Buying Phillips 66 Chemical Stake
Chevron and Phillips 66 established the CPChem joint venture in 2000 as they combined two mid-size chemicals companies.
Crude Futures Drop as Trade Uncertainty Grows
Oil prices hit a new low for the year as Trump's conflicting trade statements fuel market uncertainty and demand concerns.
Galp Offers Mopane-3X Update
Galp said it has successfully drilled, cored, and logged the Mopane-3X well.
Atlas Completes $220 Million Purchase of Power Tech Firm Moser
'The acquisition of Moser Energy Systems is a platform investment that provides Atlas with exposure to the production end of the oil and gas value chain, along with new distributed power end-markets'.
Chevron Makes Leadership Changes in Simplification Push
'Our new organizational structure and leadership appointments are designed to improve our operational efficiency and position Chevron for sustained growth'.
BP Refocuses on Oil Amid Elliott Pressure, But Cuts Buybacks
BP announced a major pivot back to its core oil and gas business.
Are We Ever Likely to See an AI CEO at an Oil and Gas Company?
Rigzone talks to Toni Fadnes, the Chief Transformation Officer of eDrilling.
Black Gold Starts Drilling at Indiana Well
The Illinois Basin has a history of producing 10 to 12 million barrels of oil annually, the company said.
Saipem Sees 71 Percent Increase in Annual Profit
Saipem reported $321.08 million in net profit for 2024, up 70.9 percent from 2023 helped by higher volumes and the deployment of new rigs.
Leading Energy Companies Holding Back Renewables Commitments, BMI Says
'Leading energy companies are shifting focus', BMI analysts said.
Uniper to Make Bailout-Related Payment of $2.73B to Germany in Q1
Uniper expects to remit to Germany $2.73 in aid repayments this quarter in relation to the government's bailout of the power and natural gas utility in 2022.
SBM Offshore Logs Record Annual Revenue
SBM Offshore also ended 2024 with a record backlog of $35.1 billion.
Sonangol Reaffirms IPO Intent
Angola's state oil firm said it is still working toward an initial public offering of as much as 30 percent of its shares.
