The latest oil and gas news from around the world.
Updated: 26 min 52 sec ago
PTTEP Eyes 8 Percent Growth in Sales Volume Next Year
'This growth reflects strong momentum from our operational expansion in Thailand and overseas this year, which has already translated into higher sales volume and revenue, and will continue to support our performance into 2026 and beyond'.
Var Energi Hits New Oil Discovery Near Goliat
Var Energi confirmed a new oil discovery on Norway's side of the Barents Sea, the second discovery in weeks in its ongoing Goliat Ridge drilling campaign.
US Extends Reprieve for Lukoil Fuel Stations Outside Russia
The Trump administration extended a waiver for Lukoil's gas stations outside of Russia, allowing them to continue operations until late April 2026.
UK Energy Tech Firm Seeks $500MM in Funding Round
Kraken Technologies Ltd has kicked off a fresh funding round to raise about $500 million, according to people familiar with the matter.
Crude Settles Higher Despite Saudi Price Cut
Talks stalling on a Russia-Ukraine peace plan kept sanctions in place, giving oil futures support.
Saudis Cut Main Oil Price to 5-Year Low
Saudi Arabia cut the price of its flagship crude grade to the lowest level in five years.
$5 Psychological Threshold Still a Relevant Driver for NatGas
'The January natural gas contract traded as high as $5.039 [per MMBtu] yesterday before closing at $4.995', EBW Analytics Group Energy Analyst Eli Rubin said.
Chevron Expects 2026 Budget To Be on Lower End of Guidance
'Nearly $6 billion is expected for U.S. shale and tight assets that include Permian, DJ and Bakken, underpinning anticipated U.S. production of more than two million barrels of oil equivalent per day'.
Analysts See '5-10 Years of Decent Growth' for Oil Demand
Morningstar analysts said they believe oil demand 'still has five to 10 years of decent growth before plateauing in the early 2030s'.
Macquarie Places 20-Year Order from Texas LNG
Macquarie signed a definitive agreement to buy 0.5 million metric tons per annum of LNG for 20 years from Glenfarne's Texas LNG project.
Bilfinger Workers Support Strike Action
UK union Unite announced that over 400 offshore members employed by Bilfinger UK Limited 'have supported taking strike action in an escalating dispute over pensions'.
400+ Bilfinger Workers Support Strike Action
UK union Unite announced that over 400 offshore members employed by Bilfinger UK Limited 'have supported taking strike action in an escalating dispute over pensions'.
ADNOC in Talks to Buy SEFE Trading Arm
Germany has begun preliminary discussions with potential investors - including ADNOC - about a deal to buy the trading unit of SEFE, as the government looks at options for the future of the nationalized energy company.
Turkiye Signs for 10-Year LNG Supplies from Eni, SEFE
Turkiye's state-owned BOTAS signed separate 10-year agreements for the supply of LNG from Germany's SEFE and Italy's Eni.
Eni to Acquire Acea Energia
'As a result of this acquisition, Plenitude will incorporate into its portfolio over 1.4 million retail customers in Italy'.
Oil Closes Up as Peace Deal Falls Short
Crude settled modestly higher after US-Russia talks failed to produce a Ukraine peace deal, keeping sanctions risks elevated.
Black Sea War Insurance Soars 250 Percent
Insurance rates for ships calling at ports in the Black Sea are surging.
Russia Oil Revenue Falls by a Third
The Russian government's oil proceeds shrank by almost a third in November from a year ago.
OPEC Receives Updated Compensation Plans
A statement posted on OPEC's website this week announced that the OPEC Secretariat has received updated compensation plans from Iraq, the UAE, Kazakhstan, and Oman.
TVA, Holtec to Get Up To $800MM in DOE Funding for SMR Development
The funding will help 'advance initial projects in Tennessee and Michigan and help expand the nation's capacity while facilitating additional follow-on projects and associated supply chains'.
