Industry News

U.S. President Donald Trump gave his opinion on the United Arab Emirates' decision to withdraw from OPEC.

'In this war driven oil shock, inventories have become the market's primary balancing mechanism', J.P. Morgan analysts said.

Malaysia's national oil and gas company signed a deal to give returning investor ENEOS a 10 percent ownership in Malaysia LNG Tiga.

Ukrainian drones struck a major refinery deep inside Russia and again attacked an oil pumping station nearby, further crippling Moscow's crude processing capability.

Gasoline in California has topped $6 a gallon.

Brent retreated from a four-year high as algorithmic trading and thin volumes drove volatility.

OPEC+ is likely to agree another symbolic production increase for June, three delegates said.

Crude oil stocks, not including the SPR, stood at 459.5 million barrels on April 24, the EIA's latest weekly petroleum status report showed.

Vendor offers represented 265 projects spanning green hydrogen, lower-carbon hydrogen and hydrogen derivatives.

The Chinese state-backed company reported around $5.72 billion in net income for the first quarter, up 7.1 percent from the same three-month period last year on higher realized oil prices and oil and gas sales.

Rigzone talks to analysts from the Heritage Foundation, Wood Mackenzie, and Standard Chartered.

The Middle East Crisis Temporary State Aid Framework, adopted following a consultation with member states, allows various forms of government assistance for agriculture, fishery and transport companies until yearend.

Oil prices surged amid increasing concerns about the geopolitical situation in the Middle East, Daniel Takieddine, Co-Founder and CEO of Sky Links Capital Group, said.

The year-on-year increase was mainly due to electricity distribution in the UK growing 72.6 percent to nearly 15,000 gWh.

'The blockade is somewhat more effective than the bombing', Trump said.

In the heart of U.S. shale country, gas is so plentiful that producers have to pay buyers to take it off their hands.

Oil prices surged to multi-year highs as the Iran conflict and Hormuz blockade tighten global supply.

Russia said it has no plans of leaving its alliance with OPEC after the United Arab Emirates' shock decision to quit the cartel raised questions about its future.

Eni has entered into a deal with Venezuela's Hydrocarbons Ministry and state-owned PdVSA to relaunch activities at the Junin-5 heavy oil field in the Orinoco Belt.

The stalemate in the U.S.-Iran conflict has continued for a further week with no clear resolutions on either side, Standard Chartered Bank Head of Energy Research Emily Ashford said.