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Oil & Gas

Oil Prices Post 3% Annual Decline

Oil Prices Post 3% Annual Decline

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
Crude Oil
08-08-2025

China’s July Crude Oil Imports up 11.5% Year-On-Year
China’s crude oil imports in July 2025 increased by 11.5% compared to the same month last year, reaching 47.2 million metric tons, or 11.12 million barrels per day, according to data released by the General Administration of Customs on August 7,
Gas Pipeline
07-08-2025

Energy Transfer to Build $5.3b TX to AZ Natural Gas Pipeline
Energy Transfer LP announced on Wednesday its plans to construct a $5.3 billion natural gas pipeline from the Permian Basin to markets in New Mexico and Arizona. The project, an expansion of the company’s Transwestern Pipeline network, is expect
LNG
06-08-2025

Technip Secures ‘Major’ Epc Deal for Louisiana LNG Terminal
Commonwealth LNG, managed by energy-focused investment firm Kimmeridge, has engaged Technip Energies, a French engineering company, to provide engineering, procurement, and construction services for its liquefied natural gas (LNG) facility in Cameron Pari
Oil Refinery
05-08-2025

India’s Biggest Refiner Buys US, Middle East Crude as Trump Slams Russia Purchases
Indian Oil Corporation (IOC), India's largest refiner, has secured 7 million barrels of crude oil from the United States, Canada, and the Middle East for September delivery, according to four trade sources on Monday. The procurement includes 4.5 m
RNG
04-08-2025

Ameresco and Republic Services Launch Another RNG Facility in Illinois
On July 29, 2025, Ameresco Inc., a prominent energy solutions provider, announced the successful commercial operation of a renewable natural gas (RNG) facility at the County Landfill in Dixon, Illinois. This project, developed in partnership with Republic
Oil Field
04-08-2025

CNOOC Achieves New Gas Startup in South China Sea
CNOOC Ltd., a subsidiary of China National Offshore Oil Corp., has commenced production at the Dongfang 1-1 Gas Field 13-3 Block Development Project in the Yinggehai Basin, South China Sea. This marks the company’s ninth offshore project startup
Oil&Gas Drilling
04-08-2025

China’s Independent Oil Firms Elbow Into Iraq’s Majors-Dominated Market
China's independent oil companies are significantly increasing their investments in Iraq, a major OPEC producer, with plans to double their output to 500,000 barrels per day by 2030, according to executives from four of these firms. This expansion
LNG
02-08-2025

Construction Costs Rise at Canada’s Woodfibre LNG Project
The Woodfibre LNG project, a 2.1-million tonne liquefied natural gas export facility under construction near Squamish, British Columbia, has encountered higher capital costs, according to Enbridge, a Canadian pipeline company, in a statement released on F
LNG
01-08-2025

Sempra, Japan’s Jera Enter Into 20-Year LNG Supply Deal
Sempra Infrastructure, a subsidiary of U.S.-based Sempra, announced a 20-year agreement to supply Japan’s largest power generator, JERA, with 1.5 million tonnes of liquefied natural gas (LNG) annually. The LNG will be sourced from Sempra&rsq

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