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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
(BOE Report) – Giant shovels, driverless trucks and a dog-like robot have all helped Canada’s oil sands companies including Imperial Oil and Suncor become some of North America’s lowest-cost oil producers, driving down overheads even as the worst inflation in a generation pushed U.S. shale costs up. tariff threats.
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]
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]
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. crude oil production forecast in its July short term energy outlook.
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”).
(Oil Price) – Investments in fusion technology have jumped by $2.6 billion since 2021, with more than $2.6 billion since 2021, with more than $2.6 The association’s report showed that total funding for fusion efforts has exceeded $9.7 billion raised in the last year alone. billion raised in the last year alone.
(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. A Total representative declined to comment.
(World Oil) – Nigerian energy company Green Energy International (GEIL) has completed the development of the Otakikpo onshore terminal, situated in OML 11 near Port Harcourt. Improved fiscals introduced through Nigeria’s Petroleum Industry Act in 2021 further enticed investments by both international and regional players.
Volatility Hits Differently Depending on Who You Are How you hedge and manage volatility depends on who you are… Matt Joy, Oil Brokerage Geopolitical risk, inflation and trade policy have made volatility the new normal but not everyone feels it the same way. Use technicals for entry and timing but let fundamentals anchor your exposure.
Lower breakeven and emissions compared to oil. Here’s a structured summary and analysis of the latest U.S. rig activity based on the Baker Hughes data and broader market context: U.S. Rig Count Summary (Latest Baker Hughes Report) Category Current Count Change (W/W) Change (Y/Y) Total U.S. LNG export growth potential.
As geopolitical tensions escalate, energy professionals are closely monitoring the situation’s impact on oil prices, market dynamics and long-term industry outlook. Targeted Strikes Rattle Oil Markets Recent attacks on Iranian energy facilities caused a spike in oil prices, with Brent crude rising about $10 per barrel in the past month.
(Oil Price) – Santos has granted exclusive due diligence access for six weeks to the consortium led by Abu Dhabi’s ADNOC that has made an $18.7 Santos is also the majority shareholders in the PNG LNG project in Paua New Guinea, after taking over Oil Search back in 2021. This would mean an US$18.7 billion to develop.
total energy imports were about 22 quadrillion British thermal units in 2024 and have been relatively flat since 2021. Crude oil and refined petroleum product imports combined accounted for about 84 percent of U.S. fall to 40-year low in 2024 appeared first on Permian Basin Oil and Gas Magazine.
In response to news that Israel has launched an attack on Iran, Al Salazar, director at Enverus Intelligence® Research (EIR), released this reaction explaining the significance on oil prices: “Oil prices have spiked on the increased probability that an oil supply disruption will occur due to the Iran-Israel conflict.
The project, a subsea tieback to the existing Troll C platform, holds estimated recoverable volumes of 116 million barrels of oil equivalent. Oil comprises 75 percent and gas 25 percent, according to Equinor. The Fram South development consists of Echino South, discovered 2019; Blasto, discovered 2021; and two smaller discoveries.
Below we summarize recent (2024–2025) drilling activity, budget allocations, and production volumes in Oklahoma (primarily the Anadarko Basin and related plays) for six companies: Ovintiv , Mach Natural Resources , Devon Energy , Coterra Energy , Continental Resources , and Mewbourne Oil Company. Liquids” includes crude oil and NGLs.
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 added that the partnerships build on the Commercial Collaboration Agreement it signed with the state government in 2021. MORE FROM THIS AUTHOR Paul Anderson Writer OIL, GAS & ENERGY NEWS STRAIGHT TO YOUR INBOX! the Energy Commission of Sabah, and the Ministry of Industrial Development and Entrepreneurship.
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]
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. Oil prices steady ahead of U.S.-China China trade talks Summary : Oil prices held steady as investors awaited U.S.-China per gallon as global oil demand growth slows. and WTI at $64.64 per barrel.
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. OGL URL – Possibly a URL to an Oil & Gas Leads profile.
That compares with a three-year low of 1.821 tcf of gas in storage at the end of the winter withdrawal season in 2024 and a five-year (2021-2025) average of 1.836 tcf. Looking ahead, analysts estimate stockpiles were on track to end the November 2025-March 2026 winter withdrawal season at a four-year low of 1.509 tcf on March 31, 2026.
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.
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.
Onshore crude oil production in U.S. Energy Information Administration, driven by growth in tight oil production in Permian Basin. Onshore production includes both legacy oil production primarily from vertically drilled wells and newer tight oil production primarily from horizontally drilled wells. million b/d in 2024.
oil and gas drilling activity saw a notable rebound this past week, driven primarily by a surge in natural gas rigs. While oil rig counts continued to slip, steady activity in key basins like the Haynesville and a sharp uptick in states like Kansas signal a potential turning point for upstream operations heading into the second half of 2025.
link] Share Note 3: New interview with information on the impact of EVs in China on oil demand: Subscribe now Chart of the Day S&P Global: US, Brazilian Crudes Witness Sharpest Growth in Indian Crude Basket in H1 2025 Summary India's crude oil imports from the US rose over 50% and from Brazil by 80% in the first half of 2025.
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.
are flirting with a milestone not seen since 2021: a national average below $3 per gallon. The combination of tepid summer demand, surging imports, and a bearish oil market has put downward pressure on prices—even during what’s typically peak driving season. Gasoline prices in the U.S. per gallon, according to GasBuddy.
10 Based on the European Unionâs 2021 emissions. 10 âCO 2 storage projects in Europe,â International Association of Oil and Gas Producers, March 2024. This mature technology has a long operational history in the oil and gas industry and is the most commonly used option for short to medium distances.
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.
The Bass Strait project consists of conventional oil and gas fields in Gippsland basin off the south east coast of Victoria, Australia. 22, 2021 About the Author Email Alex Procyk Upstream Editor Alex Procyk is Upstream Editor at Oil & Gas Journal. Related General Interest ExxonMobil takes Bass Strait off the market Nov.
The Pennsylvania Oil Companies Directory is a compiled directory of oil & gas companies operating in PA that focus on the Appalachian basin Basin, one of the most prolific oil and gas-producing regions in the United States. Wells Drilled US Since 2021 – Total wells drilled in the US since 2021.
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. June 30, 2025 The U.S. Here is a concise summary of the latest U.S.
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. billion cubic feet of production on February 4, 2021 (“Bcf”) to 65.4 4:21-CV-01262 (S.D.
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.
and Lummus Technology, provides technology for the production of both renewable and conventional transportation fuels, premium base oils and more sustainable petrochemicals. In 2021 CLG launched its ISOTERRA technology for the conversion of biomass into SAF and renewable diesel. CLG, a joint venture between Chevron Corp.
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.
14, 2021 ). NAMCOR E&P, a subsidiary of the national oil company of Namibia, holds the remaining 5% carried interest. The prospect is up-dip from nearby discoveries in about 650 m water depth. BW Energy is the operator of the license with a 95% working interest ( OGJ Online, Jan.
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.
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.,
The Raven field, the final phase of the WND project, has been in production since early 2021. The post Badawi Discusses Natural Gas Investment Plans with bp first appeared on Egypt Oil & Gas. bp has been present in Egypt for over 60 years, with investments exceeding $35 billion.
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