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Oil
Oil Field
Nigeria Says Exxon Commits $1.5b to Deepwater Development
Exxon Mobil Corp. has committed $1.5 billion to develop a deepwater oil field in Nigeria, as the country seeks to increase its oil production. The investment, p…
Natural Gas
EIA Expects USA Gasoline Price to Drop In 2025 and 2026
The U.S. Energy Information Administration (EIA) has released its latest short-term energy outlook (STEO) on May 6, forecasting a decline in U.S. regular gasoli…
LNG
Germany’s Next LNG Terminal Chapter Nearly All-Set to Go Live
In Wilhelmshaven, Germany, the state-owned Deutsche Energy Terminal (DET), under the Federal Ministry for Economic Affairs and Climate Action, is preparing to l…
Oil Field
Gulf of Thailand Oil Field Revamp Gets Green Light
Valeura Energy has approved redevelopment of its 100%-owned Wassana field in license G10/48, Gulf of Thailand, with a new central processing platform (CPP). The…
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…
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