The latest oil and gas news from around the world.
Updated: 11 min 47 sec ago
California Phaseout of Fossil Fuel Cars Faces Congress Test
'The EPA will be transmitting to Congress the Biden administration's rules granting waivers that allowed California to preempt federal car and truck standards'.
Devon Q4 Earnings Down despite Record Production
Devon's oil production in the fourth quarter reached a record 398,000 barrels per day.
USA EIA Forecasts Gasoline Price Drop in 2025 and 2026
'Compared with 2019, we forecast four percent less U.S. motor gasoline consumption in 2025 and five percent less in 2026', the EIA said.
BKV to Develop Texas CCS Facility with Midstream Firm
BKV will purchase the carbon dioxide (CO2) waste stream from the plant, which will then be compressed, transported and permanently sequestered via BKV's injection well at an adjacent site.
Bab el-Mandeb Strait Maritime Traffic Sees Significant Downturn
'LNG and LPG carriers have shown the most severe impact', Dryad Global said.
Woodside Posts 2P Reserves of 3.09 Billion Boe
The figure is up 46.2 million barrels of oil equivalent from year-end 2023 when excluding divestments and production.
Aramco to Acquire 25 Percent in Philippine Fuel Retailer
The acquisition follows the oil giant's retail expansions to Chile and Pakistan last year.
Ecopetrol Boosts Investment in Colombian Eastern Plains
'We're looking to increase our reserves and output'.
Petrobras Taps SBM Offshore to Study FPSO Carbon Capture Solutions
SBM Offshore secured a contract from Petrobras to study the application of carbon capture modules on FPSOs.
WTI Tops $72 Amid Crude Supply Concerns
Oil prices climbed as supply uncertainties from OPEC+, Russia, and Kazakhstan, along with geopolitical tensions and technical support levels, drove crude higher.
Putin Says Global Energy Market Needs Russia-US-Saudi Talks
The global energy market needs trilateral discussions between Russia, the US and Saudi Arabia, said President Vladimir Putin.
Diamondback Energy Announces Midland Basin Deal
Diamondback said it has entered into a definitive purchase agreement to acquire certain subsidiaries of Double Eagle IV Midco LLC.
Namibia Tempers Oil Expectations After Recent Drilling Campaigns
Namibia is taking a more cautious view on its long-term oil prospects.
Occidental to Sell $1.2 Billion Assets in Permian, Rockies
The divestment is part of Occidental's debt management plan.
Tokyo Gas Invests in Philippine LNG Sector
Tokyo Gas acquired a 20 percent stake in FGEN LNG, which owns one of two operational LNG receiving terminals in the Philippines.
USA EIA Forecasts WTI Oil Price Drop in 2025 and 2026
According to its February STEO, the EIA sees the WTI spot price averaging $70.62 per barrel in 2025.
Pertamina Boosts 2C Resources by 34 Percent
The 2C contingent resource discovery represents a significant increase compared to previous years, marking a growth of 34 percent.
Santos Extends Productive Life of Greater East Spar Field
The Halyard-2 infill well will send an incremental 65 million standard cubic feet a day of natural gas to Valarus Island for processing.
What Trends Will Shape Oil and Gas Hiring In 2025?
Rigzone talks to Dave Mount, Executive Vice President of Louisiana-based OneSource Professional Search, and Brian Binke, the President and CEO of Michigan based the Birmingham Group.
Malaysia Awards Two PSCs Offshore Borneo
Petronas signed two production sharing contracts for exploration blocks in the waters of Sabah, the last leases awarded by Malaysia's national oil and gas company under the 2024 bid round.
