The latest oil and gas news from around the world.
Updated: 21 min 6 sec ago
OPEC Receives Updated Compensation Plans from 4 Countries
The OPEC Secretariat has received updated compensation plans from Iraq, the United Arab Emirates, Kazakhstan, and Oman.
Iberdrola Completes Its Biggest Transmission Line in Brazil
The Spanish utility fully energized a 1,600-kilometer transmission line between the north of Minas Gerais state and Sao Paulo.
TotalEnergies Gets New Block around Lebanon-Israel Border
TotalEnergies and its partners in Block 9 have signed an agreement with the government to enter the adjacent Block 8 around the Israeli-Lebanese maritime border.
Ukraine Strikes Lukoil Drilling Platforms in Caspian Sea
Ukraine targeted three drilling platforms in the Caspian Sea owned by Russian oil major Lukoil.
Uniper Gets Tolling Rights for 30 MW Arneburg Battery
Neoen signed a seven-year deal granting Uniper the full tolling rights for the 30-megawatt/78-MW-hour Arneburg Battery in Saxony-Anhalt, Germany.
Venezuela Oil Being Held at Sea Swells
The volume of Venezuelan crude floating at sea has spiked to the highest level in more than three years.
Iran Turmoil Pushes Oil to Weekly Gain Streak
Oil prices rose for a third week as unrest in Iran heightened geopolitical risk.
Russia's Crude Output in December Made Deep Plunge
Russia's crude oil production plunged by the most in 18 months in December.
Texas Oil, Gas Industry Employed Nearly 500K Texans in 2025
The Texas oil and natural gas industry employed 495,501 Texans last year, according to TXOGA's 2025 Energy and Economic Impact report.
Burgum Says VEN Oil Revival Won't Rely on Funding From USA
The Trump administration is unlikely to provide financial support to help U.S. oil companies revitalize Venezuela's oil sector, Interior Secretary Doug Burgum said Friday.
Nodal Hits Record Annual Volumes in Power, Environmental Markets
The derivatives trading platform for North American commodity markets saw 3.1 billion megawatt hours of power futures and 749,222 lots of environmental futures and options traded in 2025.
30 Pct of Oil Reserves Might be Consolidated Under US Influence
Around 30 percent of global oil reserves might be consolidated under U.S. influence, J.P. Morgan analysts stated.
Equinor Dishes Out Supplier Agreements Worth $10B
'These agreements lay the foundation for safe and competitive operations at Equinor's offshore installations and onshore plants in the years to come', Equinor said.
Iberdrola Ups Dividend after Reaching $146B Capitalization
'In order to implement this new edition of the remuneration system, a capital increase with a maximum reference market value of EUR 1.713 billion will be carried out'.
National Grid Unveils New Plan for Anglo-Dutch Cable Link
The power transmission and distribution operator said it would launch an eight-week public consultation for its new plan for the LionLink interconnector to start underground in Suffolk's Walberswick.
Shell Expects Weak Oil Trading Result for Q4
The update comes at a time when the oil market is lurching into an oversupply that could make for challenging trading conditions in the months ahead.
Oil Prices Jump as Short Covering Builds
Traders reacted to Iran tensions, positioning shifts, and supply uncertainty.
Survey Shows OPEC Held Supply Flat Last Month
The Saudis and seven of their main OPEC+ partners will hold a video conference on Feb. 1 to review output policy for the months ahead.
USA Crude Oil Stocks Drop Nearly 4MM Barrels WoW
Crude oil stocks, not including the SPR, stood at 419.1 million barrels on January 2, the EIA's latest weekly petroleum status report showed.
China's Top Oil Firms Turn to Beijing for Guidance on VEN
Leading Chinese oil companies with interests in Venezuela have asked Beijing for guidance on how to protect their investments.
