The latest oil and gas news from around the world.
Updated: 5 min 57 sec ago
Naftogaz Seeks USA Funds to Renovate Destroyed Plants
At least ¢ã3 billion ($3.5 billion) of damage has been done to Ukraine's facilities, with equipment needs exceeding ¢ã900 million, according to the company.
VEN Plans to Grant More Oil Blocks to Chevron and Repsol
Chevron and Repsol already have extensive holdings in Venezuela.
Oil Posts Second Straight Weekly Drop
Oil recorded its first consecutive weekly decline of the year as supply concerns resurfaced.
Baker Hughes Explores $1.5B Sale of Waygate Unit
Baker Hughes Co. is exploring a potential sale of its Waygate Technologies unit, which provides industrial testing and inspection equipment, people with knowledge of the matter said.
Reliance Gets USA License to Directly Buy VEN Crude
Reliance has historically been an important consumer of the country's heavy crude.
EIA Raises 2026 WTI Forecast, Lowers 2027 Projection
The EIA now sees the WTI spot price averaging $53.42 per barrel this year.
Some OPEC+ Members See Scope to Resume Hikes in April
Some OPEC+ members see scope for the alliance to resume supply increases in April.
ADNOC Drilling Delivers 'Best Year on Record'
ADNOC Drilling said it had delivered its 'best year on record with 2025 net profit of $1.45 billion'.
Market Positioning Itself for Period of Higher Geopolitical Risk
'This is evident in both the gradual push higher in flat price, adjustments in the forward curve and volatility skew', Standard Chartered Bank Energy Research Head Emily Ashford said.
Oil Trading Giants Say Sanctions Driving Up Prices
A ramp-up of sanctions pressure on Russia and Iran has tightened the screws on flows from the two nations over the past few months.
Oil Drops Amid Supply And Equity Jitters
Oil prices fell as investors turned cautious on Iran risks and weaker equities.
ADNOC May Expand LNG Tanker Fleet
Abu Dhabi National Oil Co.'s shipping arm is evaluating the purchase of liquefied natural gas tankers.
Global Exploration Signaling 'Early Recovery'
Global exploration is signaling an 'early recovery', according to Enverus Intelligence Research.
Ukraine Strikes 2nd Lukoil Refinery in Russia This Week
Ukrainian drones hit another Russian refinery owned by Lukoil PJSC.
USA Crude Oil Stocks Rise More Than 8MM Barrels WoW
Crude oil stocks, not including the SPR, stood at 428.8 million barrels on February 6, according to the EIA's latest weekly petroleum status report.
USA Labor Market Report Underpins Energy Demand
Rystad Energy outlined that the January U.S. labor market report 'surprise[d]... to the upside, underpinning energy demand'.
Crude Glut Is a Boon for USA Refiners
For U.S. refiners, the glut is proving a windfall.
Wright Says China Bought Some VEN Oil From the USA
China has bought some Venezuelan oil that was purchased earlier by the U.S., according to Energy Secretary Chris Wright.
Oil Gains As Middle East Tensions Rise
Traders balanced Iran uncertainty against growing inventories.
