Barrels of oil

Canada

Oil giant Shell to buy Canada’s ARC Resources for $16.4 billion in push to boost output

Shell has agreed to buy Canadian energy company ARC Resources in a $16.4 billion deal, paid for mostly with shares, the British firm said on April 27.ARC will b…

Crude Oil

Spain to release 11.5M barrels from strategic oil reserves

The Spanish government on Tuesday approved the release of up to 11.5 million barrels of oil from its reserves in a bid to ease supply shortages.Speaking to repo…

Oil Field

BW Energy Greenlights Maromba Field Development, Offshore Brazil

BW Energy has finalized its investment decision for the Maromba field development offshore Brazil, located 100 km off the coast in the Campos Basin. The project…

Crude Oil

Petrobras Posts Slight Drop In First-Quarter Oil and Gas Output

Petrobras, Brazil’s state-run oil company, reported its first-quarter production results, achieving a daily output of 2.77 million barrels of oil equivale…

Crude Oil

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…

Natural Gas

Validus Energy to Buy Natural Gas Producer 89 Energy III for $850 Million, Sources Say

Privately owned U.S. oil and gas producer Validus Energy has struck a deal to buy rival 89 Energy III for about $850 million, including debt, sources familiar w…

Crude Oil

Four Giant Oil & Gas Projects Line up for Start-up in 2025 Offshore Norway With More on the Cards

Norwegian oil and gas player Vår Energi has confirmed that four major projects are expected to be put into operation this year, enabling the firm’s …

Oil Pipeline

Enbridge Preps Pipeline Buildout for Trump-Driven Drilling Boom

Enbridge Inc. is devising plans to rapidly boost capacity on its US oil pipeline system if the incoming Trump administration succeeds in kicking off a drilling …

Oil Pipeline

Alberta Looks to Spur New Pipelines by Guaranteeing Barrels

Alberta’s government plans to directly dedicate barrels of oil for new pipeline projects in a bid to accelerate the expansion of production in the western…

Oil Field

Iraq’s Artawi Oil Field Gets Ready for a Massive Boom

A gas processing facility in Artawi, near Iraq’s southern port city of Basra. Photo: AFP/Hussein FalehBaghdad (IraqiNews.com) – The Artawi oil field…

Oil&Gas Drilling

48 Billion Boe Potential: Indonesia Offers Six More Blocks

Indonesia’s Ministry of Energy & Mineral Resources (ESDM) has unveiled the country’s second acreage offering of 2024.Six blocks are on the table wit…

Crude Oil

Ovintiv to Acquire Alberta Montney Assets for $2.4B

Ovintiv Inc. is acquiring Montney assets in Alberta from Paramount Resources Ltd. in an all-cash transaction valued at approximately $2.377 billion (CAD 3.325 b…

Oil & Gas Trade

Devon Raises 2024 Projected Production

United States producer Devon Energy Corp. has bumped up its output guidance for 2024 to between 811,000 and 830,000 barrels of oil equivalent a day (boed), supp…

Oil & Gas Supply

US Seeks Up To 3 Million Barrels Of Oil For Emergency Reserve

The U.S. on Monday said it is seeking up to 3 million barrels of oil for the Strategic Petroleum Reserve for delivery through May next year, a purchase that wou…

Oil & Gas Supply

US Seeks up to 6 Million Barrels of Oil for Strategic Reserve

An oil storage tank and crude oil pipeline equipment is seen during a tour by the Department of Energy at the Strategic Petroleum Reserve in Freeport, Texas, U.…