Industry News

Crude oil stocks, not including the SPR, stood at 422.0 million barrels on December 6, according to the EIA.

'There are no winners from a tariff hike and ensuing price hike to the raw inputs that literally are foundational to our society', said Joe DeLaura, a global energy strategist with Rabobank.

Abu Dhabi National Oil Co. will build the firm, called XRG, to spearhead global investments in natural gas, chemicals and low-carbon energy.

The API and NOIA have their say.

The framework covers the full scope of EPCm services, supporting BP's asset lifecycle, from small and large projects to minor modifications.

The U.S. Energy Information Administration lowered its 2024 and 2025 Brent spot price forecast.

World markets will be oversupplied by a hefty 1.4 million barrels a day if the group proceeds with plans to revive output starting in April, the IEA predicted in a monthly report.

Islamic State in Somalia is headed by Abdulkadir Mumin, who formed the offshoot of Islamic State when he left the al-Qaeda-linked al-Shabaab group nine years ago.

Rigzone talks to several analysts about today's U.S. natural gas price rise.

Oman's economy relies heavily on oil and gas production and increasing its exports would bolster its strained finances.

OPEC cut oil demand growth forecasts for this year and next for a fifth straight month.

Exxon plans to spend between $27 billion and $29 billion of cash in 2025.

'Fourth quarter oil balances are in a deficit', Enverus Director Al Salazar said.

'All told, the crude balance appears looser than our initial expectations', Macquarie strategists said.

The Biden administration is weighing new, harsher sanctions against Russia's lucrative oil trade.

The acquisition 'strategically expands CNX's existing stacked Marcellus and Utica undeveloped leasehold in the CPA region and provides an existing infrastructure footprint that can be leveraged for future development'.

Oil prices edged higher as optimism for China's stimulus countered weak import data, while geopolitical risks and OPEC's production delays stabilized the market.

China's oil demand may peak in 2025, according to a report from the nation's largest energy producer.

'The regime change has the potential to spill over into neighboring territories', Rystad warned.

The DOE closed a $303.5 million loan guarantee for Eos to build two stationary battery production lines in Turtle Creek, Pennsylvania.