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Global crude benchmarks edged sideways in early-morning trading on Monday as the oil market awaited an official statement from President Donald Trump, expected to address U.S. energy policy, including possible changes to sanctions enforcement and Strategic Petroleum Reserve (SPR) management.
Nigeria’s Economic and Financial Crimes Commission has arrested two ex-oil officials, including the former chief financial officer of Nigeria’s state energy firm NNPC, over an alleged $7.2-billion billion fraud, corruption, and abuse of office.
billion contract to Strategic Storage Partners, LLChardly a household nameto manage the Strategic Petroleum Reserve (SPR)Americas emergency stash of crude oil. After a transition period, Strategic Storage Partners will take over from the current SPR management firm, Fluor Federal Petroleum Operations (FFPO) on June 15, 2025.
The recent reiteration by Iraq Oil Ministry of a 7 million barrels per day (bpd) oil production target within the next five years has spurred activity among Chinese firms that continue to dominate the countrys oil and gas sector.
India, the world’s third-largest crude oil importer, which depends on imports for about 85% of its daily consumption, considers building three new sites to raise its strategic petroleum reserves.
A Greek-operated bulk carrier was attacked in the Red Sea on Monday in the second Houthi strike on commercial shipping in less than 24 hours, stoking fears of a renewed escalation in one of the world’s most critical oil transit corridors, Arab and Israel media report.
(Oil Price) – Lower oil and gas prices are expected to dent the second-quarter earnings at BP, despite higher output and stronger refining margins. Brent oil prices averaged $67.88 The gas marketing and trading result is expected to be average, BP said, but noted that the “The oil trading result is expected to be strong.”
(Oil Price) – As if WTI oil prices in the low $60s per barrel aren’t enough to slow production growth at America’s top producing shale basin, the Permian, new guidelines for permitting saltwater disposal wells could raise the costs for operators, especially smaller producers with limited resources.
Managers and owners of oil tankers are wary of offering their vessels for routes around the Middle East as the intensifying conflict between Israel and Iran increases fears of disruption to oil flows.
Environmental, social and governance (ESG) investing spiked in 2020 and 2021 amid the COVID-19 pandemic with low oil prices driving more investments beyond fossil fuels, while fund managers tried to appear more climate-conscious.
Logistics management in the oil and gas industry plays a critical role in ensuring safe, timely, and cost-effective movement of materials, equipment, and personnel across upstream, midstream, and downstream operations. Integrated TMS (Transportation Management Systems) Centralizing planning, dispatch, routing, and analytics.
Diversified Energy and global investment firm Carlyle have formed a strategic partnership to invest up to $2 billion in proved developed producing (PDP) natural gas and oil assets across the U.S. Diversified.
Oil markets are refocusing on geopolitical risk after the Israel-Hamas ceasefire broke down and the United States engaged the Houthis in Yemen.- Chinese refiners managed to keep run rates high despite a 26-month import low in January, with seaborne flows poised to rebound strongly in March after Beijing adapted to US sanctions on .-
Nigerias government has set a new, significantly higher, production target for the national oil company, aiming for 2.5 When the new NNPC management visited me, I increased their oil production target to 2.5 million barrels daily by the end of this year.
Oil Price) – Eni has signed a deal to sell 20% in its low-carbon energy business Plenitude to Ares Management Corporation in a deal valuing the unit at an enterprise value of $13.8 Under the agreement, global alternative investment manager Ares Management will buy 20% in Plenitude for $2.3 Register to attend.
Traders havent been this bearish on oil in months or so bullish on U.S. The latest data on money managers positioning in the WTI and Brent crude and U.S. The latest data on money managers positioning in the WTI and Brent crude and U.S. natural gas in years.
trillion oil fund, will buy 49% in two offshore wind farm developments of RWE for a total of $1.5 billion euros), the funds manager, Norges Bank Investment Management, said on Monday. The worlds biggest sovereign wealth fund, Norways $1.8 billion (1.4 billion (2.87 billion euros), the Norwegian fund said.
Crude Oil Imports China halted all US crude oil purchases in March as trade tensions with Washington escalated, raising concerns over demand for American shale. 1m ago - 12:19pm CST 8m ago 12:10pm CST Why Oil Prices May Be Near a Bottom In a comment to Gulf Intelligence, Ilia Bouchouev, Managing Partner at Penthathlon
As the upstream oil and gas sector faces mounting pressure from rising costs and dwindling Tier 1 inventory, the need for smarter, faster and more efficient development strategies has never been greater. ¹ For upstream oil and gas companies, it offers a path to faster decisions, smarter development and more efficient operations.
The mass layoffs of federal employees is leaving the process of critical energy projects permitting understaffed and slowed in various oil-producing U.S. Among the agencies hit by the layoffs are the Bureau of Land Management, the Bureau of Indian Affairs, and the Bureau of Ocean Energy Management.
For the past 30 years, EnerCom Denver has been the largest independent investor conference for the global oil and gas and broadening energy industry that is open to all energy companies, investors, and professionals to participate. This year’s conference will occur August 17-20, 2025, at T he Westin Denver Downtown.
Oil market fundamentals support the OPEC+ decision to increase Mays crude oil production by three times more than what the group originally planned, energy investor and senior portfolio manager at Ninepoint Partners Eric Nuttal told BNN Bloomberg on Thursday.
Dinges served as Chairman, President, and CEO of Cabot Oil & Gas Corporation from May 2002 until the companys. The post Two More Exits (Retirements) from Coterra Energy Management Team first appeared on Marcellus Drilling News.
(World Oil) – bp Plc and Shell Plc signed agreements with Libya’s National Oil Corp (NOC) to study new opportunities, joining international majors accelerating their return to the oil-rich African nation. We hope to apply bp’s experience from redeveloping and managing giant oil fields around the world.”
A $570-billion German asset manager has sold all its shares in ExxonMobil as it has found the U.S. Union Investment, one of Germanys top investors with nearly $570 billion (500 billion euros) in assets under management as of September 2024, has divested its stake in Exxon, as well as in another U.S. The decision came as Union
(World Oil) – This first-of-its-kind deployment signals a step change in how safety and operational assurance can be managed in offshore wind, with WindSafe introducing real-time visibility, predictive analytics, and intelligent automation to enhance performance and reduce risk at scale.
Privately-managed Chinese ports are accepting sanctioned tankers carrying Russian oil while a non-sanctioned vessel has recently discharged crude that was transferred on it from three smaller ships sanctioned by the U.S. in January, Reuters reports, citing ship-tracking data and sources with knowledge of the operations.
Today's OPEC+ meeting is irrelevant to the oil market this summer. Here are our expectations and their impact on the oil market: Subscribe now The eight OPEC+ members (The V8) who agreed to voluntary cuts began unwinding them in April. No decision on July's output will be made today; the V8 will decide on Saturday.
(World Oil) – Namibia will offer financial incentives to help kick-start the development of oil fields managed by a group led by TotalEnergies, according to a special adviser in the presidency. TotalEnergies and Shell Plc in 2022 made the first in a series of finds off the coast of the southwest African nation.
(World Oil) – Baker Hughes will provide Equinor plug and abandonment (P&A) services in the Oseberg East field on Norway’s continental shelf. Through this integrated P&A program, Baker Hughes will plug and abandon wells and provide project management services on behalf of Equinor.
Geological Survey that shows significant increases in undiscovered crude oil and natural gas under federally managed U.S. The report shows federal lands in Permian Basin with 8.936 billion barrels of oil and 58,468.4 billion barrels of oil and 391.6 billion barrels of oil and 201.1 public lands.
(World Oil) – (Bloomberg) — Shell Plc denied a Wall Street Journal report that it is in active talks about acquiring its London-based oil rival bp Plc. bp has been under intense pressure after years of poor performance and the intervention of activist shareholder Elliott Investment Management. local time.
(World Oil) – The American Petroleum Institute today joined more than 100 other energy trade groups and organizations in urging the Department of the Interior to develop a new five-year offshore leasing program that fully leverages the U.S. crude oil production, or nearly 2 million bopd. According to the U.S.
Venezuelas state-run oil firm PDVSA is taking over crude shipments once managed by Chevron as sanctions drama and payment disputes derail the fragile oil dtente between Washington and Caracas.
(Oil & Gas 360) – Publisher’s Note: Mach Natural Resources will present at EneCom Denver – The Energy Investment Conference at the Westin Downtown , August 17-20, 2025. With our outstanding local team and the strength of Mach’s management team, we believe we can unlock even greater value in the basin.
The Polish energy company said all of its refineries have been supplied with non-Russian oil since March, with the final contract for Russian oil delivery from Rosneft ending June 30. Today, we purchase crude oil from across the globe. Their cooperation has enabled us to bring in oil and gas from alternative sources.
(World Oil) – The Bureau of Ocean Energy Management (BOEM) has published a Proposed Notice of Sale (PNOS) for Lease Sale 262, the first of three offshore auctions in the Gulf of America under the 2024–29 Outer Continental Shelf Leasing Program.
Alhajji discusses with @ralph-schoellhammer the complexities of the oil market, particularly focusing on OPEC and its role in managingoil production and prices. He emphasizes that OPEC is not a cartel but rather a necessary management entity for the oil market. shale industry. Share Link: Subscribe now
(Oil & Gas 360) – Join us as we celebrate three decades of bringing together the energy industry’s companies, investors, analysts, and industry leaders. Institutional investors, family offices, portfolio managers, financial analysts, CIOs, and other investment community and industry professionals are encouraged to register now.
How the development, validation, and large-scale deployment of online solids management systems is saving operators money by releasing flowback equipment sooner, minimizing equipment damage due to solids carry-over, and reducing the need for shutdowns and confined space entry cleanout operations. paraffins, waxes, and asphaltenes.)
The Iraqi Drilling Company (IDC) has announced the completion of drilling and rehabilitation operations on 113 oil wells during the first half of 2025. He reaffirmed management's dedication to developing workforce capabilities and maintaining a safe and integrated work environment. IDC Director General Eng.
Image by ricardoreitmeyer via iStock The cost of shipping Middle East crude to customers in Asia collapsed on Thursday, the latest sign of oil markets returning to normal after conflict eased in the world’s top petroleum-exporting region. OIL, GAS & ENERGY NEWS STRAIGHT TO YOUR INBOX! Charter rates slumped by 17% to 55.50
This virtual event will deliver exclusive insights from Enverus experts on the key factors shaping the second half of the year—and what they mean for mineral owners, managers and investors. CT on July 15, 2025. From M&A trends to pricing signals, this briefing equips decision-makers with data-driven intelligence and actionable strategies.
(World Oil) – The chances that a rival oil company will take over bp Plc are slim right now, even as peers have been running the numbers, because of the firm’s size and complexity, said bankers from Moelis & Co. “We If bp were to try to sell its portfolio of high-quality oil assets in the U.S.,
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