The latest oil and gas news from around the world.
Updated: 50 min 20 sec ago
Seplat Revenue Soars after ExxonMobil Acquisition
The Nigerian company reported $809.3 million in revenue for Q1, up 350 percent from the same three-month period in 2024 as higher oil and gas volumes offset lower prices.
EU Set to Propose Banning Russian Gas Imports by End of 2027
The European Union is set to propose measures to ban Russian gas imports by the end of 2027.
TotalEnergies, OQEP Begin Construction of Marsa LNG Plant in Oman
The liquefaction plant is primarily intended to serve the marine fuel market as the first liquefied natural gas (LNG) bunkering hub in the Middle East.
Technip Energies Wins Engineering Contract for QatarEnergy LNG Project
Technip Energies will provide detailed engineering design for two offshore compression complexes.
BMI Cuts Henry Hub Price Forecast
'Due to the rapid natural gas stockpile build and a looser fundamental outlook we have revised our 2025 Henry Hub annual average price forecast', BMI analysts said.
Saxo Says Speculators Trimmed Crude Long Positions Ahead of OPEC+ Increase
'Both Brent crude and WTI fell back toward the four-year lows last seen in the aftermath of the March sell-off', Ole Hansen, Saxo Bank's head of commodity strategy, said.
Qatar Adds 875 MW of Solar Capacity
The projects in the industrial cities of Mesaieed and Ras Laffan will raise Qatar's solar power production capacity to 1,675 MW.
Sustained Domestic Demand Growth Boosts ADNOC Gas Profit
ADNOC's gas processing and sales arm reported $1.27 billion in net profit for Q1, up 7 percent from the same three-month period last year.
Exporters See Gas Demand Growing 2 Percent This Year
The GECF projects a 2 percent increase in natural gas consumption in 2025 on continued growth in the power and industrial sectors.
Shell Studying Merits of BP Merger
Shell is reportedly working with advisers to evaluate a potential acquisition of BP, though it's waiting for further stock and oil price declines before deciding whether to pursue a bid.
First Europe-Built CO2 Carrier Gets Closer to Entering Service
INEOS said all ship sections of Europe's first CO2 carrier have been successfully assembled in the Netherlands.
Magnolia Q1 Profit Up YoY as Production Grows
Output grew 14 percent year-on-year to 96,500 boed, including 39,100 bpd of oil, which are quarterly production records for Magnolia.
GOP Plans Billions in Oil, Gas Sales to Help Pay for Trump's Tax Bill
House Republicans plan to raise more than $15 billion in revenue through increasing U.S. oil, gas and coal lease sales, as well as other measures.
Crude Drops Nearing 2021 Lows Amid Supply Surge
OPEC+ is weighing another 400,000 bpd production increase, rattling already weak markets.
Macquarie Strategists See 'Healthy USA Crude Build' in Next EIA Report
That EIA report is scheduled to be released on May 7 and will include data for the week ending May 2.
Hess Logs Lower Quarterly Profit on Weaker Oil
Hess reported $559 million in adjusted net income for Q1, down about 42 percent from the same three-month period a year ago as lower oil prices offset higher natural gas prices.
Chevron Cuts Buybacks and Exxon Sits Tight as Oil Plunges
Big Oil is finding it increasingly difficult to maintain share buybacks.
Shell Shows Its Strength by Sticking to Plans Amid Oil Downturn
Shell Plc stood out from its peers.
ADNOC Announces App Launch
'The innovative app will enable smarter engagement for businesses with ADNOC', the company said.
Saipem Lands Liverpool Bay CCS Job
Eni awarded Saipem a contract for the CO2 electrical compression station of its Liverpool Bay CCS project.
