The latest oil and gas news from around the world.
Updated: 7 min 3 sec ago
Biden Admin Finalizes Hydrogen Tax Credit Favoring Cleaner Production
The Biden administration finalized rules for a tax incentive promoting hydrogen production using renewable power, with lower credits for processes using abated natural gas.
Biden Bars Offshore Oil Drilling in USA Atlantic and Pacific
President Joe Biden is indefinitely blocking offshore oil and gas development in more than 625 million acres of U.S. coastal waters.
Equinor Secures $3 Billion Financing for US Offshore Wind Project
Equinor announced a final investment decision on Empire Wind 1 and financial close for $3 billion in debt financing for the under-construction project offshore Long Island.
USA Crude Oil Stocks Drop Week on Week
Crude oil stocks, excluding the SPR, stood at 415.6 million barrels on December 27, according to the EIA.
Subsea7 Scores Various Contracts Globally
Subsea 7 S.A. has secured contracts from Turkish Petroleum Offshore Technology Center AS and Shell Offshore Inc.
Oil Holds at Highest Levels Since October
'The outlook remains bullish', George Pavel, General Manager at Naga.com Middle East, said in a market analysis sent to Rigzone.
CNOOC Starts Production in Panyu Oilfield Project in South China Sea
CNOOC expects the project to reach about 13,600 boed in peak production this year.
James Thomson Takes Kistos CFO Post
Thomson, named last year as Kistos deputy CFO, now succeeds Richard Slape.
Top LNG Buyer in Japan Forms Think Tank to Watch Market Trends
Jera Global Institute was reportedly founded January 1 and will aim to follow the example of Shell's scenarios team, which produces long-term forecasts to advise senior management and the board.
Galp Receives Reactors for Sines Biofuels Project, Production to Start 2026
The project will be the first advanced biofuel production unit integrated into a refining system that includes an industrial-scale green hydrogen production facility, according to Galp.
U.S. Energy Completes Sale of East Texas Assets
U.S. Energy Corp. closed the sale of assets located in East Texas it disclosed in December 2024.
Trillion Advances Well Optimization Program at SASB Gas Field in Türkiye
Trillion Energy International Inc has continued the velocity string tubing program on two tripods after previously completing operations on the Akcakoca platform in late November.
Tullow Gains on $320MM Ghana Tax Arbitration Case Win
Tullow Oil Plc gained after an international body found it wasn't liable for a $320 million tax assessment in Ghana.
Oil Hits Two-Month High on Tightening Supply
Oil hit a two-month high as shrinking US stockpiles and strong markets outweighed concerns over China and 2025 oversupply.
Saipem's Castorone Passes Bosphorus Strait on Way to Sakarya Phase 2 Job
It reached and crossed the Bosphorus Strait in the morning of December 28.
DT Midstream Completes Bolt-On Midwest Pipelines Acquisition
'The bolt-on acquisition of these premier pipelines is fully aligned with our pure play natural gas strategy', David Slater, DT Midstream President and CEO, said.
Analysts Look at Today's USA Natural Gas Price Drop
As we enter the new year, U.S. natural gas prices have some short-term bearish sentiment, Art Hogan, Chief Market Strategist at B. Riley Wealth, told Rigzone.
Baker Hughes Scores Louisiana LNG Tech Order
Baker Hughes Holdings LLC received an order from Bechtel Energy Inc. to supply gas technology equipment for two liquefaction plants at Woodside Energy Group Ltd's Louisiana liquefied natural gas project.
Moldova Region's Industry Grinds to Halt on Lack of Russian Gas
All of Moldova's roughly 2 billion cubic meters of annual gas imported from Gazprom in the past two years were being delivered to Transnistria.
AccuWeather Says Deep Freeze Could Impact Northeast Natural Gas Production
'Blasts of cold air are expected to trigger a surge in heating demand, leading to higher energy and utility bills', AccuWeather warned.
