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Oil & Gas

Oil Prices Post 3% Annual Decline

Oil Prices Post 3% Annual Decline

Oil Field
15-04-2025

Oil Uplift Coming up Next on Brazilian Field’s Horizon
BW Energy, listed on the Oslo Stock Exchange, has confirmed a final investment decision for the Golfinho Boost project in the Espírito Santo Basin, offshore Brazil. The initiative aims to enhance oil production at the Golfinho field, following
Oil Price
15-04-2025

JP Morgan Cuts Oil Price Forecasts on Weak Demand, Higher Output
JP Morgan recently revised its oil price forecasts for 2025 and 2026, pointing to increased OPEC+ production and reduced global demand. The bank lowered its 2025 Brent crude forecast to $66 per barrel from $73 and its 2026 estimate to $58 from $61. For WT
Oil Field
14-04-2025

BP Makes New Oil Discovery off US Gulf Coast
On Monday, BP announced a new oil discovery in the Far South field, located in the U.S. Gulf of Mexico. The exploration well, drilled in Green Canyon Block 584, approximately 120 miles off Louisiana’s coast, confirmed the presence of oil. A side
Crude Oil
14-04-2025

Trio Petroleum Acquires Cash Flow-Positive Oil Assets in Saskatchewan, Canada
Trio Petroleum, a California-based oil and gas company, has finalized the purchase of petroleum and natural gas assets from Novacor Exploration in the Lloydminster, Saskatchewan, heavy oil region. The transaction includes the TWP48 properties, with the TW
Oil Refinery
14-04-2025

Sinopec, Aramco Sign Agreement for Yanbu Refinery Expansion in Saudi Arabia
China Petroleum & Chemical Corporation (Sinopec) and Saudi Arabian Oil Company (Aramco) have signed an agreement to expand the Yanbu Refinery in Saudi Arabia’s Yanbu Industrial City. The project focuses on enhancing the refinery’s
Oil&Gas Drilling
14-04-2025

Transocean Equinox Rig Arrives to Embark On Otway Basin Exploration
The Transocean Equinox rig has reached the Otway Basin, advancing the Otway Exploration Drilling Programme (OEDP) set for 2025. This initiative, led by ConocoPhillips Australia (COPA) with 3D Energi as a partner, aims to explore natural gas reserves in th
Oil Pipeline
14-04-2025

Oando Pipelines in Nigeria’s Oil-Rich Bayelsa State Hit by Sabotage Attacks
Oando Plc, a Nigerian oil producer, reported three incidents targeting its pipelines in Bayelsa state, southern Nigeria, over the past week. The company announced the events late on Friday, detailing impacts on key infrastructure in the oil-rich region.A
Crude Oil
14-04-2025

China’s Crude Oil Imports Highest Since August 2023 on Iranian Surge
China's crude oil imports in March reached 51.41 million metric tons, equivalent to 12.1 million barrels per day (bpd), according to data released by the General Administration of Customs on Monday. This marks the highest level since August 2023,
Crude Oil
14-04-2025

Chevron Must Return Venezuelan Oil Before Sanctions Deadline, Sources Say
Chevron Corp. has been directed to return nearly 1 million barrels of oil to Venezuela’s state-owned company, Petroleos de Venezuela SA (PDVSA), affecting the U.S. company’s plans to secure crude before ceasing operations in the countr
Oil Shale
14-04-2025

Shale Drillers Idle U.S. Rigs at Fastest Pace in Almost Two Years
U.S. shale drilling activity slowed significantly this week, marking the steepest decline in nearly two years, as global trade uncertainties weigh on energy demand forecasts. Data released by Baker Hughes Co. on Friday showed a drop of nine oil rigs, brin
RNG
14-04-2025

Montauk Renewables and American Environmental Landfill Break Ground on Tulsa RNG Project
On April 9, Montauk Renewables Inc. announced that its subsidiary, Tulsa LFG LLC, began construction on a renewable natural gas (RNG) project at the American Environmental Landfill Inc. (AEL) in Tulsa, Oklahoma. The groundbreaking ceremony marked the star
Gas Pipeline
14-04-2025

TC Energy Rules Out Sale of Canadian Mainline Pipeline
TC Energy Corp.’s Chief Executive Officer, Francois Poirier, has confirmed that the company will not sell its Canadian Mainline natural gas pipeline, a vital energy asset spanning over 14,000 kilometers from Alberta to Ontario and Quebec. The pi
Oil Field
14-04-2025

CNOOC Brings On-Stream Wenchang 9-7 Oilfield Development Project
CNOOC Limited (the "Company", SEHK: 00883 (HKD Counter) and 80883 (RMB Counter), SSE: 600938) today announces that Wenchang 9-7 Oilfield Development Project has commenced production.The project is located in the western Pearl River Mouth Basin,
LNG
11-04-2025

Another Permit in Place for America’s ‘First’ Offshore LNG Export Project
Delfin Midstream, a U.S.-based company developing LNG export infrastructure, has secured a key permit for its Delfin LNG project in Louisiana and offshore in the U.S. Gulf. On March 10, 2025, the Department of Energy (DOE), led by U.S. Secretary of Energy
LNG
11-04-2025

Mubadala Energy Buys 24% Stake in Kimmeridge, Marking Its First Major U.S. LNG Investment
Mubadala Energy, based in Abu Dhabi, has recently acquired a 24.1% stake in SoTex HoldCo LLC, a company owned by Kimmeridge, an energy-focused alternative asset manager. This deal marks a significant strategic move for both parties. SoTex holds two key as
Crude Oil
11-04-2025

USA Crude Flows to China Trickle to Near Zero After Tariff Blitz
The flow of oil from the United States to China, one of the world’s largest importers, is projected to drop significantly due to increasing trade tensions. Shipments, which had risen in recent years, have been declining for much of 2025, driven
LNG
11-04-2025

Energy Transfer and Midocean Energy Collaborate on Lake Charles LNG
Energy Transfer LNG Export, a subsidiary of U.S.-based Energy Transfer, has signed a heads of agreement (HOA) with MidOcean Energy, a liquified natural gas (LNG) company managed by EIG Global Energy Partners. The non-binding agreement outlines plans for t
Oil & Gas Trade
11-04-2025

Venezuela’s PDVSA Suspends Oil Loading Authorizations to Chevron, Sources Say
On Thursday, Venezuela’s state oil company, PDVSA, revoked several authorizations previously granted to U.S.-based Chevron for loading and exporting Venezuelan crude oil in April, according to three informed sources. The decision follows recent
Oil Price
11-04-2025

Egypt Raises Fuel Prices for First Time in 2025
On Friday, Egypt adjusted fuel prices upward by 11.76% to 14.81%, the first such change in 2025, according to state media. The move aligns with the government’s efforts to reduce fuel subsidies as part of an $8 billion International Monetary Fun
Oil Price
10-04-2025

Texas Shale Industry Voices Frustrations With Trump as Oil Prices Tank
At the Permian Basin Petroleum Association’s Spring Swing golf tournament in Odessa, West Texas, oil industry leaders expressed frustration beyond the game. The event, held in a region surrounded by pumpjacks, highlighted a deeper concern: falli
LNG
10-04-2025

Eni Secures Investment for a Second Deep-Sea LNG Platform in Mozambique
The Mozambican government approved a US$7.2-billion investment in the Coral Norte Liquified Natural Gas (LNG) project on Tuesday, with the new platform expected to launch in 2028, according to the Club of Mozambique. This marks the second phase of Italian
Oil Refinery
10-04-2025

US Refiners Unlikely to Spend Big to Process More Domestic Oil
U.S. refiners are hesitant to invest heavily in processing more domestic crude instead of oil from major suppliers Canada and Mexico, according to industry sources and analysts. This reluctance poses a challenge to President Trump’s goal of incr
Crude Oil
10-04-2025

Venezuela’s Oil Flows Again, After a Week of Panic
Many buyers of Venezuelan oil have resumed loading crude onto tankers after a week-long pause at the country’s ports. This follows U.S. tariffs imposed by President Donald Trump on importers of Venezuela’s oil, according to shipping da
Crude Oil
10-04-2025

Occidental Petroleum Flags Higher Prices for Oil and Gas Production in Q1
On Wednesday, Occidental Petroleum, a U.S. shale company, reported that prices for its oil and gas production in the first quarter were higher than in the previous quarter. The increase reflects stronger market conditions, with benchmark Brent crude price
LNG
10-04-2025

Energy Transfer Signs Deal With MidOcean for Lake Charles, Louisiana, LNG Project
Energy Transfer, a U.S. pipeline operator, announced a nonbinding agreement with MidOcean Energy to collaborate on developing the Lake Charles LNG export facility in Louisiana on Wednesday, April 9, 2025. This partnership aims to advance the construction

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