The latest oil and gas news from around the world.
Updated: 52 min 17 sec ago
Oil Retreats on Truce Optimism
Oil prices fell as traders bet the US and Iran are nearing a deal.
USA Crude Oil Stocks Drop by 8MM Barrels Week on Week
Crude oil stocks, not including the SPR, stood at 433.7 million barrels on May 29, the EIA's latest weekly petroleum status report showed.
Delfin to Proceed with US' First Floating LNG Project
Delfin announced a $5 billion investment to launch a Gulf Coast project that will be the United States' first floating liquefied natural gas facility.
Santander, JPM to Back $1B TGS Vaca Muerta Financing
Citigroup, Santander, and JPM are among lenders working on a roughly $1 billion finance package for a project by TGS in Argentina's Vaca Muerta shale formation, according to people familiar with the matter.
Avangrid Bags New Contract to Power Microsoft
Expected to start commercial operation 2028, the 140-MWdc Bluebird in Klickitat County, Washington is the fourth Avangrid project to have the Redmond, Washington-based tech giant as a customer.
License to Drill Act Passes USA House of Representatives
The bill still needs to pass the Senate and go to U.S. President Donald Trump to become law, the Congress.gov site shows.
Albanese Says 40MM More Liters of Diesel Secured for Queensland
The Australian government said it is pursuing further negotiations with industry for fuel and fertilizer.
WoodMac Names Most Admired Explorer
The award is determined by the votes of exploration leaders across the industry, supported by independent quantitative analysis conducted by Wood Mackenzie, WoodMac noted.
Energean Faces Competition for Chevron Stakes in Angola Blocks
Etu Energias is exercising its pre-emption right in an agreement under which Chevron is selling its interests in 2 producing oil and gas licenses offshore Angola to Energean.
US Says Israel, Lebanon Agreed Truce on Hezbollah Condition
The White House said the agreement between Israel and Lebanon was contingent on 'a complete cessation' of attacks by the Iran-backed militia.
Venezuela Wants Oil Firms to Supply Their Own Power
Energy companies heading to Venezuela are being told to bring their own power plants to run their oil and natural gas operations.
Oil Settles Higher On Iran Strikes
Oil prices climbed as US-Iran tensions escalated and peace talks stalled.
Iberdrola Starts Up Spain's Biggest Battery Energy Storage Project
'With 58 MW of power and 120 MWh of storage capacity, the project marks another step forward in the company's commitment to energy storage as a key pillar of electrification and renewable integration'.
GasBuddy Warns USA Gas Price Relief May be Short Lived
GasBuddy highlighted that gasoline prices in the U.S. are 'plunging' but warned that the 'relief may be short lived'.
Kuwait to Look at Expanding Global Oil Storage
The U.S. and Israeli campaign against Iran that began in late-February has led to unprecedented upheaval in global markets.
Repsol Adds 200,000 Tons of Annual Capacity for Renewable Fuel Production
The Spanish energy company producing renewable diesel at its Puertollano Industrial Complex in Ciudad Real, its second plant dedicated exclusively to producing 100 percent renewable fuels.
Energy Cos Team Up for New AI Powered Safety Initiative
Enverus revealed that it has teamed up with Continental Resources, BPX Energy, Chord Energy, and Ranger Energy Services to introduce LifeSaver, 'a field safety initiative'.
BW LPG Sees YoY Increase in Shipping Revenue
'Current earnings continue to be supported by trading inefficiencies and a shortage of available vessels on the US-Far East trade'.
Oil Trading Higher for Third Consecutive Session
'Market pessimism once again grows over the prospects of a U.S.-Iran deal that could pave the way for a reopening of the Strait of Hormuz', Ole S. Hansen, Head of Commodity Strategy at Saxo Bank, said.
INEOS to Supply LNG to Asia under Marubeni Deal
The agreement with the Japanese trading and investment conglomerate represents INEOS' first LNG deliveries to the Asia-Pacific region.
