Venezuela Circulates Draft of Oil Law Regs for Cos
The Venezuelan government is circulating a draft of regulations as part of its newly enacted oil law.
Oil Settles Higher on Iran Doubts
Oil prices climbed as Iran peace talks faced new doubts.
North America Adds More Rigs WoW
North America added three rigs week on week, according to Baker Hughes' latest North America rotary rig count.
Canada Strikes Deal to Start Building Oil Pipeline in 2027
Canada and Alberta reached a carbon pricing deal that opens the way for construction of a new oil pipeline starting as early as 2027.
USA Upstream M&A Hit $38B in Q1
U.S. upstream mergers and acquisitions hit $38 billion in the first quarter of this year before volatility 'pause[d]… the market', Enverus Intelligence Research noted.
US DOE Awards Over $94MM to Light Water SMR Advancement Projects
The Department of Energy awarded 8 projects a total of more than $94 million to support site permitting and supply chain development efforts for light water small modular reactors.
Santos, Repsol Start Oil Production at Alaska Project
'At plateau, production from the asset will be equivalent to 19 percent of Alaska's current output, delivering the first significant new crude volumes to the state in decades'.
EIA Sees Oil Deficit Widening in 2026
The U.S. Energy Information Administration has widened its global oil deficit projection for 2026.
Eni Completes Investment in Canadian Battery Feedstock Project
The commitment from the Italian state-backed energy major is part of a $213.16 million capital raise via private placement for phase 2 of NMG's Matawinie Mine project in Canada.
Uniper Issues Call for Capacity Allocation at German Hydrogen Terminal
The terminal is designed to receive up to 2.6 million metric tons a year of ammonia, enough to produce about 350,000 metric tons per annum of hydrogen, according to the German power and gas utility.
No Deal In Sight to End Iran War
Iran's semi-official Fars news agency said the U.S had set 5 main conditions for a peace deal, including transferring uranium tied to Iran's nuclear program to the U.S.
Brazil Tops Shell Payments to Governments in 2025
Shell remitted a total of $23.84 billion to governments in 24 countries where the British energy giant has upstream activities last year, with Brazil displacing Nigeria as top recipient at $4.25 billion.
Sheinbaum Taps Pemex CFO to Run Mexico Oil Giant
Petroleos Mexicanos Chief Executive Officer Víctor Rodríguez Padilla is stepping down.
Trump Says He Didn't Ask Xi to Pressure Iran on Strait
Trump said he stopped short of asking Xi to lean on Iran to ease traffic through the passage, but predicted the Chinese leader would do so.
Oil Surges as Supply Risks Deepen
Traders remain focused on tightening crude supplies and fragile Middle East ceasefire conditions.
INPEX to Acquire PetroChina Stake in Australian Browse Gas Project
The project, which has yet to reach the FEED stage, involves delivering gas extracted from the Browse Basin to the existing Karratha Gas Plant.
UAE to Double Oil Export Capacity Bypassing Hormuz by 2027
The United Arab Emirates will double its capacity to export crude oil bypassing the Strait of Hormuz by next year.
Texas Upstream Employment Rises
'The increase in upstream employment in March ... demonstrates the strength and resilience of our industry', TIPRO President Ed Longanecker said.
Scottish Greens Push for Expanded Tax on Windfall Oil Profits
The party renewed calls for the UK government to bolster taxation on extraordinary profits by oil and gas companies and use the collection to help households pay energy bills.
USA EIA Reveals Latest Oil Price Forecasts
The U.S. Energy Information Administration revealed its latest oil price forecasts in its May short term energy outlook.
