Oil

Oil Price

US Oil Prices Drop More Than $1 as Inventory Build Raises Oversupply Fear

U.S. crude futures dropped more than $1 in early trading on Thursday after unexpected data showed an increase in U.S. crude oil inventories, sparking concerns a…

LNG

Venture Global Urges FERC to Reaffirm Approval for Louisiana LNG Project

Venture Global, a U.S. liquefied natural gas (LNG) company, is seeking approval from the Federal Energy Regulatory Commission (FERC) to proceed with the constru…

Oil Field

Murphy Discovers More Oil in Cuu Long Basin Offshore Vietnam

Murphy Oil Corp. has announced a significant oil discovery in Block 15-1/05, located in the Cuu Long Basin offshore Vietnam. The exploration well Lac Da Hong-1X…

Biofuel

USDA: May WASDE Predicts Soybean Oil Use in Biofuel Will Expand for 2025-‘26

The U.S. Department of Agriculture (USDA) released its World Agricultural Supply and Demand Estimates report on May 12, 2025, adjusting its forecast for U.S. so…

LNG

Shell’s LNG Canada Plans First Exports as Soon as Late June

Shell Plc’s liquefied natural gas (LNG) project, LNG Canada, located on Canada’s western coast, is nearing completion and preparing to start oversea…

Crude Oil

Iraq to Reduce Crude Oil Exports in May and June, Official Says

Iraq intends to export 3.2 million barrels per day (bpd) of crude oil in May and June, according to an Iraqi official familiar with the matter. This volume repr…

Crude Oil

US House Budget Bill Seeks More Than $1.5 Billion for Strategic Petroleum Reserve

A U.S. House committee unveiled a budget proposal on Sunday, allocating over $1.5 billion to restore and maintain the Strategic Petroleum Reserve (SPR), the wor…

Crude Oil

Mexico’s Pemex Plans to Export Less Crude Oil as New Refinery Starts Up, Official Says

Mexico’s state-owned oil company, Pemex, expects to decrease crude oil exports this year as it directs more supply to domestic refineries, particularly th…

Crude Oil

China’s Recovery in Crude Oil Imports Is More Bearish Than Bullish

China, the world’s largest crude oil importer, reported a slight increase in imports for the first four months of 2025, reaching 11.83 million barrels per…

Crude Oil

Oman Considering $8 Billion Sale of Natural Gas Assets, Sources Say

Oman is exploring the sale of a minority stake in natural gas assets within Block 6, valued at approximately $8 billion, to raise funds for state finances and s…

Crude Oil

Petrobras Enriches Brazilian Offshore Reserves With ‘High-Quality’ Oil Find

Brazilian state-owned energy company Petrobras has announced a new oil discovery in the pre-salt Santos Basin, located off Brazil’s southeastern coast. Th…

Crude Oil

Kazakhstan Says It Has No Plans to Cut Oil Production This Month

Kazakhstan’s Energy Ministry, based in Astana, has announced that the country will maintain its oil production at an average of 277,000 metric tons of cru…

LNG

Canada’s Multi-Billion LNG Project Seeks Permit for New Floatel to Create 900 More Jobs

Woodfibre Management, a Vancouver-based Canadian company, is preparing to seek regulatory approval for a second floating workforce accommodation unit, or floate…

Oil Field

Mexico’s Pemex Aims to Reopen Wells to Boost Falling Oil Output, Documents and Sources Say

Mexico’s state energy company, Pemex, is planning to reactivate closed wells to increase oil production, according to internal documents and four sources famil…

Brazil

Yara Launches High-Tech Fertilizer Yarabasa Turbo in Brazil

At the 30th Agrishow in Brazil, covered by AgroPages, Yara, a global leader in plant nutrition, launched YaraBasa TURBO, a new high-tech fertilizer in its YaraB…