US sanctions on Serbia's NIS Oil Firm are lifted
The United States has granted a third waiver of sanctions to the Serbian oil company Naftna Industrija Srbije. It is owned by Russia's Gazprom and Gazprom. NIS has a single…
Baker Hughes reports that US drillers added oil and gas rigs in the US for a second consecutive week.
Baker Hughes, a leading energy services company, said that U.S. firms added oil and gas rigs this week for the second consecutive week for the first since February. The number of oil and gas drilling rigs…
Buildings damaged in Ecuador by earthquake of magnitude 6.3
The European Mediterranean Seismological Centre reported that a magnitude 6.3 earthquake hit near the coast in Ecuador on Friday. It damaged buildings in Esmeraldas, and some…
Elliott, an activist investor, calls for a change in BP's strategy chief and organizational structure
A source familiar with this situation on Friday said that activist investor Elliott Investment Management is pushing oil major BP's strategy chief to be replaced and its structure…
US wants to increase offshore oil drilling through easing of pressure rules
The U.S. Interior Department announced on Thursday that it had implemented new guidelines regarding pressure differentials allowed in certain types of oil drilling, in part of Gulf of Mexico.
African energy exploration company Rhino Resources discovers light oil offshore Namibia
Namibia got a boost Thursday after Rhino Resources found "high-quality" light oil at its latest well. U.S. oil company Chevron also announced that it is considering a drilling campaign for 2026 or 2027.
Freeport-McMoRan reports lower profit for the quarter due to higher tariffs and increased costs
Freeport-McMoRan stated on Thursday that the proposed tariffs may increase the cost of goods purchased by the copper miner in the United States. The price could rise to about 5%.
Ukraine's Naftogaz signs a contract with Orlen for 100 mcm gas
Ukraine's Naftogaz signed a contract on Thursday for another 100 million cubic meters (mcm), bringing its total purchase volume from Orlen to 300 mcm. After Russian missiles…
Finance Minister: Indonesia's growth in 2025 will be around 5%, despite trade tensions
Indonesia's growth will probably remain around 5% this year despite the trade tensions. The finance minister stated that a government delegation was still negotiating with Washington in order to avoid high tariffs.
EQT will spend less and produce more US natgas by 2025
EQT Energy, the second largest natural gas producer in the United States, will reduce its capital expenditure but increase energy production by 2025. Range Resources, on their part…
Enverus: Weak oil prices and limited shale acres will impact energy M&A by 2025
Enverus, an analytics firm, said that the U.S. Upstream Oil and Gas M&A Market is bracing itself for the most challenging conditions in the past decade, as oil prices plummet and prime acreage disappears…
Woodside Energy's revenue for the first quarter of 2013 jumps by 13% thanks to Senegal project.
Woodside Energy, Australia's largest gas producer, posted a 13% increase in its first-quarter revenues on Wednesday. The growth was boosted by the start-up of Senegal's Sangomar…
REFILE-ConocoPhillips plans layoffs as part of broad restructuring
ConocoPhillips plans to reduce staff. The company announced this on Tuesday. This is part of a broader effort to control costs and streamline operations following its $23 billion purchase of Marathon Oil.
EQT will buy Olympus Energy’s midstream and upstream assets from Olympus Energy for $1.8 billion
EQT announced on Tuesday that it will buy Olympus' upstream and middlestream assets for $1.8 billion, in a cash and stock deal. Profits also exceeded expectations in the first quarter…
Elliott presses BP to boost free cash flow by 40% via spending reductions, FT reports
The Financial Times reported that Elliott Management, an activist investor, has urged BP a 40% increase in its free cash flow through spending cuts. Elliott wants BP to focus…
Devon Energy to boost free cash flow by $1 billion by 2026
Devon Energy announced on Tuesday that it intends to increase its annual free cashflow by $1 billion by 2026. This sent its shares up by 3.5% in the premarket. This is what the U.S.
Oil industry sources claim that Central Africa's new FX Initiative falls short of its target.
Two oil industry sources said that six Central African nations who were expecting to receive billions in foreign exchange from funds set aside for environmental restoration…
Hammerfest LNG Plant in Norway will be closed for maintenance from July until August
Equinor announced that its Hammerfest LNG Terminal, Europe's biggest liquefied gas export facility, was shut down on Tuesday for planned annual maintenance. According to a regulatory document…
Shell completes survey of Venezuelan gas field as winding down of license approaches
Shell, the oil and gas company, plans to finish a marine survey of the offshore Dragon gas field in Venezuela before the May deadline set by the United States to close all energy licenses in the country.
Chevron announces the first oil production at Ballymore Project in US Gulf
Chevron announced on Monday that it had begun oil and gas production in the U.S. Gulf of Mexico. This brings the company closer to its goal of increasing production by 50% from the ocean basin this year.
