The latest oil and gas news from around the world.
Updated: 21 min 28 sec ago
USA EIA Projects Diesel Price Decrease in 2025, Increase in 2026
The EIA's February STEO forecast that the U.S. on-highway diesel fuel price will average $3.63 per gallon in 2025 and $3.70 per gallon in 2026.
ADNOC Gas Delivers Record $2.84 Billion Placement
ADNOC achieved what it said is the biggest placement on the Abu Dhabi exchange, raising about $2.84 billion from issuing 3.1 billion shares in its integrated gas processing arm to institutional investors.
Pemex Reports Illegal Boarding
'Two Pemex workers were evacuated from the platform, due to a possible stress scenario resulting from the incident', Pemex said.
Cargill, Hafnia Launch Bunkering Joint Venture
The JV initially represents 7.5 million metric tons in bunkering volume.
Former Gunvor Manager Convicted of Bribery over Oil Deals
An ex-trade finance executive at the firm, who can't be named under Swiss reporting restrictions, was handed a two-year suspended sentence.
CNOOC Starts Production in Luda 5-2 North Phase 2 in Bohai Sea
'CNOOC Limited made major technological breakthroughs in this project and significantly enhanced the development efficiency of offshore super heavy oil'.
EU Trade Chief Says Ready to Work With USA on Lower Tariffs
The EU trade chief said talks with the US at this stage are aimed at finding common ground and building momentum.
Oil Holds Above $72 Amid Supply Uncertainty
Oil prices extended modest gains above $72 as supply concerns, a weaker dollar, and refinery shifts influenced market sentiment, while trading remained rangebound amid investor caution.
Calcasieu Pass LNG in Louisiana to Start 'Commercial Operation' April
The Cameron Parish export facility already began production 2022 but has not supplied offtakers.
Oil, Gas Sector Sees Dip in Contract Volume, GlobalData Reveals
Despite the dip in volume, the overall contract value remained stable, driven by the announcement of some major contracts in Africa, GlobalData stated.
Elliott Seeks Phillips 66 Board Seats as It Urges Asset Sale
Elliott Investment Management is seeking seats on the board of oil refiner Phillips 66.
California Phaseout of Fossil Fuel Cars Faces Congress Test
'The EPA will be transmitting to Congress the Biden administration's rules granting waivers that allowed California to preempt federal car and truck standards'.
Devon Q4 Earnings Down despite Record Production
Devon's oil production in the fourth quarter reached a record 398,000 barrels per day.
USA EIA Forecasts Gasoline Price Drop in 2025 and 2026
'Compared with 2019, we forecast four percent less U.S. motor gasoline consumption in 2025 and five percent less in 2026', the EIA said.
BKV to Develop Texas CCS Facility with Midstream Firm
BKV will purchase the carbon dioxide (CO2) waste stream from the plant, which will then be compressed, transported and permanently sequestered via BKV's injection well at an adjacent site.
Bab el-Mandeb Strait Maritime Traffic Sees Significant Downturn
'LNG and LPG carriers have shown the most severe impact', Dryad Global said.
Woodside Posts 2P Reserves of 3.09 Billion Boe
The figure is up 46.2 million barrels of oil equivalent from year-end 2023 when excluding divestments and production.
Aramco to Acquire 25 Percent in Philippine Fuel Retailer
The acquisition follows the oil giant's retail expansions to Chile and Pakistan last year.
Ecopetrol Boosts Investment in Colombian Eastern Plains
'We're looking to increase our reserves and output'.
Petrobras Taps SBM Offshore to Study FPSO Carbon Capture Solutions
SBM Offshore secured a contract from Petrobras to study the application of carbon capture modules on FPSOs.
