The latest oil and gas news from around the world.
Updated: 13 min 9 sec ago
WTI Tops $72 Amid Crude Supply Concerns
Oil prices climbed as supply uncertainties from OPEC+, Russia, and Kazakhstan, along with geopolitical tensions and technical support levels, drove crude higher.
Putin Says Global Energy Market Needs Russia-US-Saudi Talks
The global energy market needs trilateral discussions between Russia, the US and Saudi Arabia, said President Vladimir Putin.
Diamondback Energy Announces Midland Basin Deal
Diamondback said it has entered into a definitive purchase agreement to acquire certain subsidiaries of Double Eagle IV Midco LLC.
Namibia Tempers Oil Expectations After Recent Drilling Campaigns
Namibia is taking a more cautious view on its long-term oil prospects.
Occidental to Sell $1.2 Billion Assets in Permian, Rockies
The divestment is part of Occidental's debt management plan.
Tokyo Gas Invests in Philippine LNG Sector
Tokyo Gas acquired a 20 percent stake in FGEN LNG, which owns one of two operational LNG receiving terminals in the Philippines.
USA EIA Forecasts WTI Oil Price Drop in 2025 and 2026
According to its February STEO, the EIA sees the WTI spot price averaging $70.62 per barrel in 2025.
Pertamina Boosts 2C Resources by 34 Percent
The 2C contingent resource discovery represents a significant increase compared to previous years, marking a growth of 34 percent.
Santos Extends Productive Life of Greater East Spar Field
The Halyard-2 infill well will send an incremental 65 million standard cubic feet a day of natural gas to Valarus Island for processing.
What Trends Will Shape Oil and Gas Hiring In 2025?
Rigzone talks to Dave Mount, Executive Vice President of Louisiana-based OneSource Professional Search, and Brian Binke, the President and CEO of Michigan based the Birmingham Group.
Malaysia Awards Two PSCs Offshore Borneo
Petronas signed two production sharing contracts for exploration blocks in the waters of Sabah, the last leases awarded by Malaysia's national oil and gas company under the 2024 bid round.
Galp Sees 75 Percent Drop in Quarterly Profit
Galp reported a replacement cost-adjusted net income of $74.1 million.
Oil Flows from Iran to China Jump as Traders Work Around US Restrictions
Oil flows from Iran to China rebounded this month after traders smoothed out logistical bottlenecks caused by tighter U.S. curbs, enabling buyers in the largest importer to shift a backlog of cargoes.
EPointZero, Masdar, TotalEnergies Partner on Sustainable Energy Solutions
The partnership seeks to improve clean energy access in developing economies across Africa and Asia.
TotalEnergies, Air Liquide Plan $628 Million Hydrogen Venture
The two companies aim to build a 250-megawatt electrolyzer powered by wind energy near the Zeeland refinery, Total said in a statement Tuesday.
Oil Settles Higher as OPEC+ Weighs Supply Delay
Oil prices rise as OPEC+ considers delaying output hikes, but oversupply concerns and geopolitical shifts weigh on the market.
Macquarie Strategists See 'Healthy US Crude Build' in Next EIA Report
'We anticipate another healthy U.S. crude build', Macquarie strategists said.
Imperial Names New CEO
John Whelan will take over from the retiring Brad Carson.
Texas GulfLink Oil Export Project Gets Federal Approval
Sentinel Midstream received DOT approval for a project to build a petroleum export facility with loading rates of up to one million barrels a day off the coast of Brazoria County, Texas.
Aker Solutions Logs 42 Percent YoY Growth in Q4 Revenue
Aker Solutions reported $1.41 billion in revenue for the fourth quarter of 2024, driven by high activity across segments and locations.
