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So far in July, European natural gas markets have seen the lowest volatility in prices since 2021, but as summer temperatures peak in the coming weeks, demand is expected to rise, and so will the benchmark gas prices.
energy firms cut the number of oil and natural gas rigs operating for a fourth month in a row to the lowest since October 2021, energy services firm Baker Hughes said in its closely followed report on Friday. The oil and gas rig count, an early indicator of future output, fell by seven to [Read more]
TotalEnergies (NYSE: TTE) reported on Thursday its weakest adjusted net income for a quarter since 2021, hit by lower oil and gas prices, and warned of a coming oil glut in an unstable macroeconomic and geopolitical environment. The French supermajor booked an adjusted net income of $3.6
energy firms this week cut the number of oil and natural gas rigs operating for an 11th week in a row for the first time since July 2020 when the COVID-19 pandemic cut demand for the fuel, energy services firm Baker Hughes said in its closely followed report on Friday. The oil and gas [Read more]
energy firms this week cut the number of oil and natural gas rigs operating for a seventh week in a row to the lowest since November 2021, energy services firm Baker Hughes said in its closely followed report on Friday. The oil and gas rig count, an early indicator of future output, fell by [Read more]
(World Oil) – Companies hired by TotalEnergies SE to build a $20 billion gas project in northern Mozambique have started preparing to resume work on the venture, four years after it was suspended because of a militant insurgency, according to people familiar with the matter.
natural gas storage is on track to end the April-October summer injection season at a three-year low of 3.797 trillion cubic feet (tcf) on October 31, 2025, according to analysts’ estimates. (BOE Report) – U.S.
Coterra is the successor company of Cabot Oil & Gas after Cabot merged with Cimarex Energy in October 2021 (see Cimarex Takes Over Cabot, Merged Co. Coterra Energy CEO Tom Jorden had a sit-down interview at the 2025 J.P. Morgan Energy, Power, Renewables and Mining Conference on Tuesday of this week. Called “Coterra Energy”).
Image by AlbertPego via iStock The United States displaced Russia as the European Union’s second-biggest natural gas supplier in the first quarter due to the expiry of imports of Russian pipeline gas via Ukraine at the start of the year, the European Commission has reported. volumes comprised 24 percent or 16.6
oil and gas drilling activity saw a notable rebound this past week, driven primarily by a surge in natural gas rigs. According to the latest Baker Hughes Rig Count, the total number of active rigs rose by seven—the largest weekly gain since December—reflecting growing optimism in the gas sector as prices climb.
Santos, which earlier this month received – and plans to accept – the offer, has now entered into a process and exclusivity deed with XRG, a subsidiary of Abu Dhabi National Oil Company and lead investor of a consortium including Abu Dhabi Development Holding Company and Carlyle, the Australian gas giant said on Friday.
billion since 2021, with more than $2.6 (Oil Price) – Investments in fusion technology have jumped by $2.6 The association’s report showed that total funding for fusion efforts has exceeded $9.7 billion raised in the last year alone.
This year, bp completed drilling activities from two gas discoveries offshore the Mediterranean; El-King-2 and El Fayoum-5. The two exploration wells will be tied into the company’s existing onshore infrastructure as part of the West Nile Delta (WND) Gas Development project.
It’s been no secret that natural gas production in the Marcellus/Utica has stalled over the past few years. Since 2021, the M-U has been rangebound in producing somewhere between 34 and 37 Bcf/d (see the chart).
private) (N/A – private; high gas focus) (N/A – private) ~7–9 rigs in Oklahoma (2025) (21 wells drilled in 2023) Note: MBOE/d = thousand barrels of oil equivalent per day. Indeed, industry data indicates Ovintiv added an extra rig in Oklahoma early 2025 as gas prices improved.) Liquids” includes crude oil and NGLs.
Improved fiscals introduced through Nigeria’s Petroleum Industry Act in 2021 further enticed investments by both international and regional players. A marginal field bidding round was launched in 2020 to entice indigenous operators to invest in marginal field opportunities, drawing in 591 companies seeking to develop 57 oilfields.
total energy imports were about 22 quadrillion British thermal units in 2024 and have been relatively flat since 2021. total energy imports in 2024 with natural gas accounting for most of the remainder at 15 percent. fall to 40-year low in 2024 appeared first on Permian Basin Oil and Gas Magazine.
billion) investment to develop Fram South, which will unlock new gas for Europe, the operator said. billion) investment to develop Fram South, which will unlock new gas for Europe, the operator said. Oil comprises 75 percent and gas 25 percent, according to Equinor. It expects the project to start production 2029.
Image by Cylonphoto via iStock The European Commission has proposed legislation to stop the importation of natural gas, oil and oil products from Russia into the European Union by 2027, betting on global liquefied natural gas (LNG) and increased regional infrastructure interconnectivity. billion cubic meters (473.22
Petronas said in a media release the event marked a significant milestone in Sabah’s energy growth with the official handover of the Sabah Gas Strategy, a project led jointly by Petronas and the state government. MORE FROM THIS AUTHOR Paul Anderson Writer OIL, GAS & ENERGY NEWS STRAIGHT TO YOUR INBOX!
energy firms this week cut the number of oil and natural gas rigs operating for a sixth week in a row for the first time since September 2023, energy services firm Baker Hughes said in its closely followed report on Friday. The oil and gas rig count, an early indicator of future output, fell [Read more]
At Kearl, for example, Imperial has reduced expenses related to turnarounds — an industry term for the costly periods of required maintenance that often involve temporarily shutting down production — by CDN$100 million annually since 2021. billion after paying down a combined total of almost C$22 billion in debt between 2021 and 2024.
June 9, 2025 Edition At Valor, our goal is to keep you informed of the latest news and updates from the oil and gas industry. Read more Natural gas price outlook – Natural gas gaps lower to start the week Summary : Natural gas prices opened the week with a gap lower amid weak demand and uncertainty over U.S.
According to the latest Baker Hughes report, the total number of active rigs fell by 4 to 559, the lowest level since November 2021. Oil rigs drove the decline with a loss of 9, while gas rigs rebounded with a gain of 5. Baker Hughes reclassified 8–10 rigs in Marcellus/Utica (gas vs. oil), with historical totals unchanged.
The targeted nature of these strikes suggests a deliberate attempt to avoid major disruptions to international markets: the affected refinery and gas field serve Iran’s domestic consumption needs. Strategic Petroleum Reserve is depleted by 200 million barrels to 2021. Global oil stocks are below five-year averages, and the U.S.
Image by Midnight Studio via iStock According to the Energy Institute’s (EI) latest statistical review of world energy, which was released recently, the world’s top natural gas consumer in 2024 was the United States. exajoules of natural gas last year, which represented a 1.3 natural gas demand was 26.00 consumed 32.5
In case you somehow forgot, the 2021 Valentines Day storm coined “Snovid,” “Snowmageddon,” or officially labeled Winter Storm Uri, blanketed Texas in snow and ice, even bringing snowfall to Galveston Beach. Kinder Morgan is a natural gas pipeline that purchases, sells, and transports gas.
Image by Yutthana Gaetgeaw via iStock According to the Energy Institute’s (EI) latest statistical review of world energy, which was released recently, the world’s top natural gas producer last year was the United States. exajoules of natural gas in 2024, which represented a yearly reduction of 0.3 exajoules in 2021, 35.67
Total industry GVA encompasses the following sectors: mining and quarrying, manufacturing, electricity, gas, steam, and air conditioning supply, as well as water supply, sewerage, waste management, and remediation activities. 10 Based on the European Unionâs 2021 emissions. 2 two digit level)â1000,â Eurostat, accessed June 2024.
Here are brief video clips ( 2 minutes each) highlighting key perspectives on global oil demand and AI's impact on the oil and gas industry. Although they rarely increase in June, they did last month, as shown in Figure 1, which illustrates trends in India’s monthly petroleum product exports since early 2021.
and QatarEnergy have made another natural gas discovery in Block 10 offshore Cyprus, the presidential office said Monday. Seven years ago the partners found a gas-bearing reservoir about 436 feet in Glaucus-1. As of 2022, the best estimate of gas-in-place resources in the Glaucus discovery was 3.7
Brent Crude $68.75 -0.77% Natural Gas $3.32 -6.98% Latest Oil Prices SUBSCRIBE SEARCH ARTICLES NEWS USA EIA Reveals Latest USA Crude Oil Production Forecast by Andreas Exarheas | Rigzone Staff | Monday, July 21, 2025 | 8:27 AM EST The U.S. “It also excludes Haynesville and Appalachia, which primarily produce natural gas.
Counts of active oil and gas drilling rigs in U.S. Those are the lowest counts in 45 months since October 2021 and the tenth straight week of declining rig counts. Permian Basin drilling rig counts fall for tenth straight week appeared first on Permian Basin Oil and Gas Magazine. As of July 3, there were 539 rigs in U.S.
The Louisiana Oil Company Directory is a compiled directory of oil & gas companies operating in LA, one of the most prolific oil and gas-producing regions in the world. This is a $30 oil & gas market intel bundle you receive at no extra cost. Wells Drilled US Since 2021 – Total wells drilled in the US since 2021.
has adjusted the timeline for the development of the Rafael natural gas project in Western Australia’s Canning Basin but still aims for a startup late 2027. The Rafael gas and condensate field is in Exploration Permit 428, about 150 kilometers (93.21 Buru plans to drill two wells, including the 2021 discovery.
Image by Alexyz3d via iStock The NATO Innovation Fund (NIF) said it had led a financing round with participation from Norwegian sovereign investment fund Investinor AS for Kongsberg Ferrotech AS, a Norwegian company offering robotic solutions for the maintenance and repair of offshore infrastructure including oil and gas facilities.
Brent Crude $78.03 +1.73% Natural Gas $4.04 +1.35% Latest Oil Prices SUBSCRIBE SEARCH ARTICLES NEWS Inpex Granted Production Concession for UAE Block by Rocky Teodoro | Rigzone Staff | Thursday, June 19, 2025 | 8:56 AM EST The Japanese energy firm has been conducting exploration and evaluation activities in the block since 2018.
In 2021 CLG launched its ISOTERRA technology for the conversion of biomass into SAF and renewable diesel. MORE FROM THIS AUTHOR Jov Onsat Editor OIL, GAS & ENERGY NEWS STRAIGHT TO YOUR INBOX! It has increased its SAF production capacity to 1.5 CLG, a joint venture between Chevron Corp. 700K Industry Pros can’t be wrong.
PFLNG 3 is the project company tasked with the upcoming shore-based floating liquefied natural gas (LNG) facility in the Sipitang Oil and Gas Industrial Park (SOGIP) in Sabah. These deals are part of the Commercial Collaboration Agreement that Petronas signed with the state government in 2021. 700K Industry Pros can’t be wrong.
This trend reflects a cautious industry response to sustained price volatility, investor pressure, and a strategic pivot toward natural gas. Strategic Shift Toward Gas: Natural gas rigs are up 7 YoY , showing resilience. Producers may be pivoting to gas due to: Stronger gas prices. LNG export growth potential.
The New Mexico Oil Company Directory is a compiled directory of oil & gas companies operating in NM, one of the most prolific oil and gas-producing regions in the world. Wells Drilled US Since 2021 – Total wells drilled in the US since 2021. OGL URL – Possibly a URL to an Oil & Gas Leads profile.
Both are the lowest counts since October 2021. Permian decline again; Texas, New Mexico remain unchanged appeared first on Permian Basin Oil and Gas Magazine. (down 7 from 554 previous week, down 34 or 6 percent from 581 year ago) and 270 rigs in Permian Basin (down 1 from 271 previous week, down 35 or 11.5 The post Rig counts in U.S.,
oil and gas drilling sector continues its downward trend as the Baker Hughes rig count fell for the ninth consecutive week , marking the longest streak of declines since mid-2020. Oil rigs at their lowest since October 2021. Gas rigs up YOY , signaling selective interest in gas-focused plays. June 30, 2025 The U.S.
Tight oil production in Permian began growing again in 2021 after the pandemic as crude oil prices increased, but non-Permian production remained low. onshore lower 48 appeared first on Permian Basin Oil and Gas Magazine. After 2020, production in Permian Basin increased at a faster pace than production outside the Permian.
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