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Oil & Gas

Oil Prices Post 3% Annual Decline

Oil Prices Post 3% Annual Decline

LNG
05-09-2025

‘Transformative’ Liquefaction Hub on the Anvil for Canada’s Easternmost Province
Fermeuse Energy, a Canadian company, has announced plans to lead the development of a liquefied natural gas (LNG) export project in Newfoundland and Labrador. The project, estimated at $12–15 billion, will be based at the company’s new
Crude Oil
04-09-2025

Colombia’s Oil and Gas Production Fall in July
Colombia’s oil and natural gas output declined in July compared with the same period last year, the National Hydrocarbons Agency announced in a statement on Wednesday.The logo of Colombia's National Hydrocarbons Agency (ANH), is seen in
Gas Pipeline
03-09-2025

Enbridge to Go Ahead With Algonquin Gas Transmission Pipeline Expansion Project
On Tuesday, Enbridge (ENB.TO) announced its final investment decision to proceed with the expansion of the Algonquin Gas Transmission (AGT) pipeline. The project aims to meet the rising demand for natural gas in the United States, particularly in the Nort
Crude Oil
01-09-2025

WoodMac Deems Recent US Oil Find as Gulf of America’s Biggest Discovery in Eight Years
Talos Energy has announced a significant oil discovery at the Daenerys prospect in the Walker Ridge area of the Gulf of America, marking a notable achievement in the region's energy sector. According to energy research firm Wood Mackenzie, this fi
Crude Oil
30-08-2025

Orlen Signs 12-Month Deal With Equinor for Supply of 15% Oil It Uses
Polish refiner Orlen has entered into a one-year agreement with Equinor, a Norwegian energy company, to supply over 6 million tons of crude oil. This contract, announced on Friday, will meet approximately 15% of the annual crude oil needs for Orlen&rs
Natural Gas
31-08-2025

JEA Board Approves $1.57bn Natural Gas Facility in Jacksonville, US
The board of Jacksonville Electric Authority (JEA), a municipal utility in Florida, has unanimously approved a $1.57 billion plan to build a combined cycle natural gas facility at the former St Johns River Power Park site in Jacksonville. The new plant, w
Natural Gas
29-08-2025

Exxon Sees Natural Gas Demand Surging in Outlook to 2050
Exxon Mobil, a leading U.S. oil producer, announced on August 28, 2025, that global natural gas demand is expected to increase by over 20% by 2050 compared to 2024 levels. This growth is driven by its role in replacing coal for industrial power and meetin
Oil Field
31-08-2025

New Zealand Prolongs Oil Production Lifespan of OMV’s 16-Year-Old Field to 2037
OMV New Zealand, a subsidiary of Austria’s OMV, has been granted a 10-year extension of its petroleum mining permit (PMP) 38160 for the Maari oil field, located 80 kilometers offshore Taranaki, New Zealand. The permit, now valid until December 2
LNG
28-08-2025

EQT to Buy LNG From Sempra’s Port Arthur Phase 2 Project
On August 27, 2025, Sempra, a U.S. energy company, announced that its subsidiary will supply 2 million tonnes per annum (Mtpa) of liquefied natural gas (LNG) to EQT Corp from the Port Arthur LNG Phase 2 project in Texas. The agreement, spanning 20 years,
Oil and Gas Equipment
27-08-2025

PetroChina Proposes to Buy Gas Facilities From CNPC in $5.59 Billion Deal
On August 26, 2025, PetroChina (601857.SS) announced a plan to acquire three natural gas storage facilities from its majority shareholder, China National Petroleum Corporation, in a transaction valued at 40.02 billion Chinese yuan ($5.59 billion). The fac
Oil Shale
25-08-2025

Crescent Energy Nears Deal for US Shale Peer Vital Energy, Sources Say
Crescent Energy, a U.S. energy company, is in advanced discussions to acquire Vital Energy, a smaller firm, sources familiar with the matter reported on Friday, August 22, 2025. The potential deal would strengthen Crescent’s operations in the Pe
LNG
22-08-2025

ConocoPhillips to Buy LNG From Sempra’s Port Arthur Phase 2 Project
ConocoPhillips announced on Thursday it will secure 4 million tonnes per annum of LNG from Sempra’s Port Arthur LNG Phase 2 project in Jefferson County, Texas, for global markets. The 20-year free-on-board agreement enhances ConocoPhillips&r
Oil Refinery
21-08-2025

Indiana’s BP Refinery Restarts After Severe Flooding
BP’s 440,000-barrel-per-day refinery in Whiting, Indiana, the largest in the U.S. Midwest, began restarting operations on August 20, 2025, following disruptions caused by flooding earlier this week, according to industry monitor IIR. The facilit
Oil Exploration
20-08-2025

Iraq Signs Agreement With Chevron on Oil Exploration Projects, Prime Minister Says
On August 19, 2025, in Baghdad, Iraq, the Iraqi Oil Ministry finalized an agreement in principle with U.S.-based Chevron for the Nassiriya oil project, as announced by Prime Minister Mohammed Shia al-Sudani. The initiative encompasses four exploration blo
LNG
19-08-2025

Gas Demand at Two of the Top US LNG Plants Declines
On Monday, two major liquefied natural gas (LNG) export facilities in the United States experienced significant reductions in natural gas demand, indicating potential operational adjustments, according to data from financial firm LSEG.A view of Cheniere&a
Crude Oil
18-08-2025

China Still Storing Crude Oil Even as Refinery Runs Rise
In July 2025, China’s refineries increased processing rates but maintained a crude oil surplus of 530,000 barrels per day (bpd), driven by robust imports and domestic production. This surplus, down from 1.42 million bpd in June, reflects a strat
Oil Shale
16-08-2025

China Marks Major Milestone in Exploration With Discovery of Deep Shale Gas Field
China has achieved a key milestone in shale gas exploration with the discovery of a large-scale deep shale gas field in its southwestern region, with proven reserves surpassing 100 billion cubic meters, according to China Petroleum and Chemical Corp (Sino
LNG
16-08-2025

Centrica Getting a Decade’s Worth of US LNG
Centrica Energy, the trading arm of U.K. energy company Centrica, has signed a natural gas sale and purchase agreement with U.S.-based Devon Energy Corporation. The deal strengthens energy trade connections between the U.S. and the U.K., focusing on natur
Crude Oil
15-08-2025

China’s Zhenhua Oil Doubles Crude Offtake From UAE in New Deal, Sources Say
On Thursday, industry sources announced that China’s Zhenhua Oil will double its crude oil offtake from the Abu Dhabi National Oil Company (ADNOC) to 200,000 barrels per day (bpd). This development follows Zhenhua’s new role as asset l
LNG
14-08-2025

Nebula’s Singapore Arm Signs off on Australian Entry to Call the Shots at LNG Terminal
AG&P LNG, a Singapore-based subsidiary of Florida’s Nebula Energy, has entered the Australian liquefied natural gas (LNG) market by acquiring an LNG import terminal project from Venice Energy in South Australia. The agreement, finalized on A
Crude Oil
13-08-2025

US Crude Production to Hit Record 13.41 Million Bpd in 2025 Before Falling, EIA Says
The U.S. Energy Information Administration (EIA) released a monthly report on August 12, 2025, projecting U.S. crude oil production to reach a record 13.41 million barrels per day (bpd) in 2025, driven by improved well productivity. However, the report an
Natural Gas
17-08-2025

US Firm Finds Work on $8 Billion Gas Development in Africa
Mellitah Oil and Gas, a joint venture between Libya’s National Oil Corporation and Italy’s Eni, has selected Hill International, a U.S.-based company, to provide project management services for its $8 billion Structures A & E energ
LNG
12-08-2025

NextDecade Secures $1.8 Billion From TotalEnergies, GIP for Rio Grande LNG Project
NextDecade, a U.S. liquefied natural gas (LNG) developer, announced on Monday that it has obtained up to $1.8 billion in equity commitments to finance a new liquefaction plant at its Rio Grande LNG export facility in Texas. The funding comes from TotalEne
Oil Field
11-08-2025

Norway’s Northernmost Oil Field Formally Inaugurated
Equinor officially inaugurated the Johan Castberg oil field on August 8. This marks Norway’s northernmost oil development and the third producing field in the Barents Sea, following the Snøhvit and Goliat projects.Energy Minister Terj
Oil Refinery
09-08-2025

India Approves $3.4 Billion Payout to State-Run Refiners for Cooking Gas Losses
India’s government approved a 300 billion rupee ($3.4 billion) compensation package for state-owned oil marketing companies to cover losses from providing subsidized cooking gas, as announced by Information and Broadcasting Minister Ashwini Vais

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