The latest oil and gas news from around the world.
Updated: 47 min 15 sec ago
AccuWeather Predicting Potentially Volatile Atlantic Hurricane Season
'Everyone needs to start planning and preparing for hurricane season', AccuWeather Chief Meteorologist Jonathan Porter said.
Phillips 66 Makes Own Declassification Proposal despite Elliott Motion
Phillips 66 said it will make its own proposal for board declassification as it warned against a similar proposal by investor Elliott.
Shell CEO Says Pursuing Major Deal Risks Being a Distraction
'If you're going to go for a big acquisition, one has to recognize that that can potentially distract'.
Canacol Posts $25MM Loss on Deferred Tax Payment
However, the gas producer's adjusted EBITDAX for Q4 2024 rose 43 percent year-on-year to $76.1 million thanks to a higher operating netback.
DNO Announces 'Important' Oil, Gas Discovery in North Sea
'We are on a hot streak in Norway', DNO Executive Chairman Bijan Mossavar-Rahmani said.
OMV Petrom, Romgaz Spud First Well in Neptun Deep Gas Project
The state-backed companies launched development drilling in the Neptun Deep gas block on Romania's side of the Black Sea, expecting to start production 2027.
NSTA Expects UK Crude Oil Output to Continue Dropping in 2025
UK crude oil production is projected to average 0.53 million barrels per day in 2025 in the NSTA's updated output forecasts.
About 700 Bcf of Gas Matched in 2nd Midterm Round of AggregateEU
Vendors offered 31 Bcm, exceeding the 29 Bcm of demand pooled during the second midterm round of AggregateEU.
Nortrans Contracted for Jansz-Io Compression Project in Australia
Nortrans secured a contract with Saipem for the Jansz-Io Compression project offshore Western Australia.
Nostrum Secures Extension of Deal to Process Production from Ural Oil
Nostrum's unit Zhaikmunai agreed to continue processing third-party hydrocarbons delivered by Ural Oil & Gas under new terms until May 2031.
ExxonMobil to Lay Off About 250 UK Workers
'We will continue to have a meaningful presence in the country'.
Trading Giants Say They'll Return to Russia If Sanctions End
The heads of some of the world's top energy traders said they would be open to returning to Russia for business if sanctions were fully lifted.
WTI Nears $70 as Supplies Tighten
Oil prices climbed after a US report showed falling crude and gasoline inventories, signaling tighter short-term supplies.
EIA Projects End of Month Total Distillate Stock Decrease in 2025 and 2026
'A decrease in U.S. refining capacity and an increase in U.S. distillate fuel consumption contribute to low distillate fuel inventories in our forecast'.
Elliott Sues Phillips 66 for 'Gamesmanship' ahead of Board Election
'Phillips has still not disclosed how many seats will be up for election or who its nominees will be, requiring Elliott to file a complaint in order to preserve its shareholder rights'.
USA Says Black Sea Truce Agreed Even as Russia Lays Out Terms
The US said Russia and Ukraine agreed to a ceasefire in the Black Sea.
Oil Market Sentiment Continues to Improve
'The supply surpluses the market had feared have yet to materialize, and the outlook for Q2 and Q3 does not suggest that any surplus is imminent', analysts at Standard Chartered Bank said.
Eni Starts Building 90 MW Solar Plant in Spain
Expected to be completed this year, the La Flota project will be able to produce 185 gigawatt hours a year.
Rosneft Revenue for 2024 Up 10.7 Percent on Higher Urals Prices
The majority state-owned integrated oil and gas company's contribution to Russia's budget also rose to a record.
