The latest oil and gas news from around the world.
Updated: 42 min 11 sec ago
Oman Said to Consider Selling Stake in $8B Gas Fields
Oman is looking to sell a stake in natural gas assets valued at about $8 billion, according to people familiar with the plan.
WTI Tops $61 on Trade Hopes
Oil rose as short sellers exited and optimism grew ahead of US–China trade talks.
ConocoPhillips Sells $1.3B Worth of Assets
These count toward a divestiture goal of $2 billion that the oil and gas major expects to complete in the first half of 2025.
USA EIA Lowers WTI Oil Price Forecasts
The U.S. Energy Information Administration lowered its West Texas Intermediate spot average price forecasts for 2025 and 2026 in its latest short term energy outlook.
Occidental Completes $1.3B Sale of DJ Basin, Permian Assets
Proceeds helped the hydrocarbons and chemicals producer repay $2.3 billion of debt.
Ukrainian Parliament Ratifies Natural Resources Deal With USA
Ukraine's parliament ratified a deal with the U.S. over access to the country's natural resources.
Chevron Reveals Q1 Net Oil Equivalent Production Level
'U.S. net oil-equivalent production was up 63,000 barrels per day from a year earlier', Chevron noted.
Suncor Profit Up on Record Refining Sales
The Calgary-based oil sands developer, which also explores for and produces oil and gas offshore, produced 853,200 bpd upstream and sold 604,900 bpd of refined products in Q1.
CIP to Invest $500 Million in BKV CCUS Projects
BKV and CIP agreed to form a JV on carbon capture, utilization and storage in the U.S.
USA Crude Oil Inventories Drop Week on Week
Crude oil stocks, not including the SPR, stood at 438.4 million barrels on May 2, the U.S. Energy Information Administration's latest weekly petroleum status report showed.
Oceaneering Secures Multi-Year GTA Job from BP
The contract includes the provision of subsea inspection, maintenance, and repair services and remotely operated vehicle services, as well as management, engineering, and integration services.
China Teapots Make Rare Murban Oil Purchases
'With healthy simple margins, independent refineries in China are taking this opportunity to buy incremental crude to increase run rates'.
Indian LNG Buyers Embrace USA Benchmark to Balance Volatility
Indian liquefied natural gas importers have signed a flurry of long-term purchase agreements linked to the U.S. price benchmark.
Oil Gains 3% as Trade Hopes Rise
Falling US inventories and bullish options activity provided further support for oil prices.
Devon Sells Stake in Permian Gas Pipeline
Devon and Ridgemont are divesting their interests in a natural gas pipeline serving the Permian Basin with a capacity of about 2.5 Bcfd.
Permian Resources to Acquire APA Delaware Basin Assets for $608MM
Midland, Texas-based oil and gas developer Permian Resources expects the acquisition to add about 12,000 boed in Q2.
EIA Cuts 2025 and 2026 Brent Oil Price Forecast
The U.S. Energy Information Administration cut its average Brent oil spot price forecast for 2025 and 2026 in its latest short term energy outlook.
BP-Shell Megadeal Would Create European Rival to Exxon Mobil
If Shell Plc were to acquire BP Plc, it would be among the largest deals in European history.
Permian Resources to Acquire APA Delaware Assets for $608MM
Midland, Texas-based oil and gas developer Permian Resources expects the acquisition to add about 12,000 boed in Q2.
Shell Dutch Wind Farm Gets New Lease on Life with Google Deal
'We purchased 100 percent of the wind farm's 108-megawatt capacity, which enabled Shell to pursue permit extensions and invest in crucial upgrades'.
