Industry News

USA Compression Partners LP reported a net income of $25.4 million in the fourth quarter of 2024.

'At 427.9 million barrels, U.S. crude oil inventories are about four percent below the five year average for this time of year,' the EIA said.

'Underneath these signs of tranquility we think there is a bullish market trying to get out', Standard Chartered Bank analysts said.

The International Energy Agency has lowered its outlook for Russia's oil production this year by only a narrow margin even with sweeping western energy sanctions.

The UK government website notes that GB Energy 'will be a new, publicly owned, clean energy company'.

Commodity traders should start paying more attention to India, according to the country's oil and gas minister.

Oil fell as Trump-Putin talks raised doubts about sanctions, while US inflation data added pressure.

Petrobras Chief Executive Officer Magda Chambriard said the Brazilian oil giant can withstand global prices sliding a little lower under Donald Trump.

The U.S. Energy Information Administration revealed its latest Brent spot price forecasts for 2025 and 2026 in its February short term energy outlook.

The report published on Wednesday is the first global energy outlook in two years from the London-based oil and gas giant.

Xcel Energy secured contracts to build high-voltage power lines for three Southwest Power Pool projects in Texas and New Mexico.

VoltaGrid will rapidly deploy more than one GW of power generation capacity across Vantage Data Centers' North American portfolio using its natural gas microgrid technology.

Tamboran achieved record completion results in the Beetaloo Sub-Basin onshore Australia's Northern Territory after stimulating the Shenandoah South 2H sidetrack well.

TotalEnergies finished drilling Tamboti-1X and spudded Marula-1X, both exploration wells in block 2913B - which contains the Venus discovery - on the Namibian side of the offshore Orange Basin.

'This discovery further underscores our continued commitment to explore and appraise for gas resources that support Egypt's energy security and economic growth', said Nader Zaki, BP Regional President for the Middle East and North Africa.

Macquarie strategists are forecasting that U.S. crude inventories will be up by 7.2 million barrels for the week ending February 7.

Friends of the Earth Netherlands is asking the country's highest court to impose a specific emission reduction target on the oil giant.

Platinum membership provides Aramco the opportunity to have representation on the technology standards organization's governing board.

'A price cap does not decrease the global market price of energy, but may create upward price pressure and increased price volatility in Europe'.

Oil prices rose as US sanctions disrupted Russian crude exports, but long-term oversupply concerns remain.