The latest oil and gas news from around the world.
Updated: 56 min 48 sec ago
Oil Futures Spike Then Fade as Trump Weighs Tariffs on Crude
Oil prices briefly surged after Trump reiterated a 25% tariff threat on Canadian and Mexican imports but quickly fell as he delayed a final decision.
Shell, Thebe Near $1B South Africa Oil Asset Sales Pact
Shell has a network of 600 service stations across the country.
USA Crude Oil Inventories Increase WoW
Crude oil stocks, not including the SPR, stood at 415.1 million barrels on January 24, according to the EIA.
Hess Doubles Guyana Oil Output
Hess grew its net oil production in Guyana by 52 percent year-on-year to 195,000 bpd in the fourth quarter of 2024.
UK Oil Ruling Sets Up Growth Versus Climate Test for Government
A UK court ruled that two North Sea oil and gas fields must re-apply for environmental permits while allowing the developments to continue.
Gran Tierra To Drill 10-14 Development Wells in 2025
The company has allotted a capital expenditure budget of $240 million to $280 million for the year.
Chevron, Engine No1 Announce Power Solution Partnership for US Data Centers
'We are proud to play our part in bringing to fruition President Trump's vision for a new American golden age', Chevron Corporation's CEO and Chairman Mike Wirth said.
Tamboran Starts New Well Stimulation Campaign in Australia's Beetaloo Basin
The wells are planned to supply the proposed Shenandoah South Pilot Project, which is expected to produce 40 million cubic feet of natural gas a day with production expected to start mid-2026.
EOG Wins Two New PSCs in Trinidad
Trinidad and Tobago signed two new production sharing contracts with EOG, which is already producing in the Caribbean country.
SC Analysts Say US Tariffs on Canada Oil Would Likely be Counterproductive
'Canada provided 75 percent of U.S. heavy crude oil imports in 2024', Standard Chartered analysts highlighted.
Shell Logs Lower Q4 Profit on Weaker Prices
Shell reported $3.66 billion in adjusted earnings, its definition of bottom line, for the fourth quarter of 2024.
ADNOC Says Achieved Benchmark Low Carbon Intensity at Shah Oil Field
The Shah field's carbon intensity is now 0.1 kgCO2e/boe, a benchmark among global oil fields, according to ADNOC.
KBR Scores Contract to Support Saudi Energy Future
KBR will contribute to the delivery of Aramco's Master Expansion Program and increase gas handling capacity at key regional locations.
Alberta to Boost Wealth Fund to Wean Itself Off Oil Revenue
Alberta plans to boost its wealth fund roughly tenfold to $173 billion by 2050 in a bid to wean itself off volatile natural resources revenue.
WTI Slips Below $73 as Canada-Mexico Tariff Uncertainty Grows
Oil prices declined after Trump's commerce pick suggested Canada and Mexico could avoid tariffs, reversing earlier gains driven by trade concerns and geopolitical tensions.
Trump's Transport Secretary Orders Fuel-Economy Rule Rewrite
Newly appointed Transportation Secretary Sean Duffy ordered a rewrite of more stringent U.S. fuel-economy rules.
IPAA Announces New Chairman
The Independent Petroleum Association of America (IPAA) has announced its new board chairman.
6 MW Solar Farm Goes Online in Fitchburg, Wisconsin
Madison Gas and Electric put into service the six-megawatt Strix Solar facility in Fitchburg, Wisconsin.
Trump Freeze Targets Biden's Green Bank, EV Tax Credits And More
A $400 billion green bank for clean energy projects and a popular consumer tax credit for electric vehicles are among items being targeted for review.
EIA Increases 2025 USA Diesel Price Forecast
According to its January STEO, the EIA sees the diesel price averaging $3.66 per gallon in 2025.
