The latest oil and gas news from around the world.
Updated: 30 min 20 sec ago
USA Crude Oil Inventories Drop 1 Million Barrels WoW
Crude oil stocks, excluding the SPR, stood at 411.7 million barrels on January 17, according to the EIA.
Chevron Unlocks New Production in Tengiz Field onshore Kazakhstan
A Chevron-led consortium achieved first oil at a third processing plant in the Tengiz oil field, which is now expected to ramp up output to one million barrels of oil equivalent a day.
Bowman Bags Geodetic Survey Job from Energy Infrastructure Major
The contract from an American energy infrastructure major includes quarterly surveys to assess infrastructure stability, evaluate geohazard risks, and ensure compliance with regulatory requirements.
UAE's Masdar to Develop 1 GW of Clean Energy in Philippines
The agreement follows a memorandum of understanding on Energy Transition Cooperation signed in November 2024 between the two countries.
ConocoPhillips Takes Over Kebabangan Cluster offshore Malaysian Borneo
Petronas and Shell exited the Kebabangan PSC offshore Sabah, leaving the producing asset to co-venturer ConocoPhillips.
Rystad Says Significant Uptick in USA Oil Output Highly Unlikely
'Despite President Trump's intentions, a significant uptick in U.S. oil production is highly unlikely', Rystad noted in a special U.S. policy oil and gas market update sent to Rigzone.
Tenaska Inks MoU with BC Firm to Deliver CCS Solutions
The two companies will 'combine their technology and services to provide end-to-end CCS value chain solutions to select customers'.
Eni Starts Production at 400,000 MMtpa SAF Plant in Italy
Eni said the capacity represents nearly a third of Europe's SAF demand in 2025.
Harbour Expects to Produce Up To 475,000 Boed This Year
Harbour put its 2025 output guidance at 450,000–475,000 boed, reflecting a full-year contribution from Wintershall Dea assets acquired near the end of 2024 and 'broadly stable production in the UK'.
SC Analysts Define 'Most Important Current Feature' of Oil Market
Analysts at Standard Chartered Bank noted that, in their view, 'the most important current feature of the oil market is positioning'.
Trump Browbeats Davos Elite to Curb Oil Prices, Interest Rates
U.S. President Donald Trump said he would ask Saudi Arabia and other OPEC nations to 'bring down the cost of oil'.
Argentina Logs Biggest Energy Trade Surplus since 2006
Argentina is forecast to do even better this year.
Crude Falls as Trump Calls for Cheaper Oil
Oil prices fell after Trump urged Saudi Arabia and OPEC to reduce crude costs, reviving his tactic of influencing energy markets, with WTI settling below $75.
Minister Says Egypt Cautiously Optimistic Suez Canal Traffic Will Revive
A return to normality for the Suez Canal would be welcome news for Egypt as it looks to emerge from its worst economic crisis in decades.
Freeport LNG Says Liquefaction Production Offline Due to Power Interruption
Freeport LNG's liquefaction production operations have been taken offline, a Freeport LNG spokesperson told Rigzone Wednesday.
Ovintiv Completes $2 Billion Sale of Assets Onshore Utah
Ovintiv completed the divestment of substantially all its assets in the onshore Uinta Basin to FourPoint Resources.
Nigeria's Oil Comeback to Test Its Commitment to OPEC+ Cuts
Analysts predict further growth in Nigeria's output this year.
BMI Says Trump Orders Poised to Have Profound Implications for Energy
The executive orders issued by President Trump are poised to have profound implications for both the U.S. and global energy landscapes, analysts at BMI stated.
Pine Cliff Bags Gas Supply Contract for Alberta Data Center
The financial details of the agreement were not disclosed.
Santos, Tamboran Eye Project to Supply Darwin LNG Extension
Tamboran and Santos Ltd. signed an agreement to explore the potential of supplying a planned second train at Darwin LNG in Australia's Northern Territory using gas from their EP 161 acreage.
