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. The southern African nation, a global hotspot for exploration, aims to produce its oil by the end of the decade…
Raoni, the indigenous leader of Brazil, says he opposes drilling for oil in Amazonia
Raoni Metuktire of the Kayapo tribe, an indigenous leader, said that Brazil should not explore for oil reserves in the Amazon because it could have a dangerous impact on the local communities. Raoni made his comments at Acampamento Terro Livre as the debate intensifies over Petrobras's…
TotalEnergies expects hydrocarbon production to be at the top of its guidance range for Q1
In a trading update, TotalEnergies said that it expects hydrocarbon output to be at the upper end of its range for the first three months. It said that the hydrocarbon production for the first quarter 2025 will be between 2.5 and 2.55 millions barrels of oil-equivalent per day (Mboe/d), an increase of 4% on a year-on-year.
FTC moves to reverse Chevron and Exxon board restrictions
The U.S. Federal Trade Commission has taken a step towards potentially reversing the bans that were placed by the Biden Administration on the joining of the boards at Exxon Mobil and Chevron as a condition for allowing them to acquire two other oil companies. Exxon had agreed to remove…
Occidental Petroleum announces higher oil and gas prices in Q1
Occidental Petroleum, a U.S. shale company, said that the prices received by the firm for its oil and gas production in the first quarter of this year were higher than the previous three months. Benchmark Brent crude averaged $74.98 per barrel in the first quarter of 2018, up 1.3% compared to the previous quarter. Meanwhile, U.S.
US refiners are unlikely to spend large amounts to process more domestic crude oil
It can be expensive and time-consuming to change refinery configuration. The margins and yields of refineries can be affected by using different types of crude. By Arathy S. Analysts and industry sources said that U.S. refiners do not plan to invest heavily to process more crude oil domestically and less oil imported from Canada and Mexico.
Oil below $60 puts US producers in a tough position regarding growth and capital returns
Analysts have warned that a drop in oil prices to below $60 per barrel as a result of an intensifying trade war could cause anxiety throughout the U.S. Oil Patch, forcing companies to take additional measures, including reducing share buybacks or capital expenditures. Brent crude…
Petrobras has completed the animal care center needed for offshore license
Petrobras, Brazil's state-run oil firm, has finished the work required to get an environmental permit in order to drill offshore. The company announced this on Saturday. The Animal Care Center in Oiapoque in Amapa State is designed to help animals in case of an oil spill. Ibama, the Brazilian environmental agency…
Venture Global reports that it exported 29 cargoes of LNG from Plaquemines plant in Q1
Venture Global, a U.S. developer of liquefied gas in Louisiana, exported 29 cargoes during the first quarter 2025 from its Plaquemines plant. The company announced this in a filing to the Securities and Exchange Commission on Thursday. Venture Global reported that it had received…
Gas giants claim that Australia's opposition plan to reserve supplies may worsen the shortage
Gas giants around the world said that a proposal made by Australia's coalition of opposition to force producers to divert more gas from exports into the domestic market in an attempt to win votes would discourage investment and not solve the looming gas shortages. The conservative…
Rubio: An attack on Exxon or Guyana would be a 'bad day for Venezuela'
Marco Rubio, U.S. secretary of state during a Thursday visit to Guyana’s capital, said that it would be "a bad day" if Venezuela attacked its neighbor Guyana and the U.S. energy giant ExxonMobil. Guyana and Venezuela have been locked in a longstanding dispute over which country holds the rights to the area of Esequibo…
Energy assets affected due to sanctions and standoff between Russia and the West
On Tuesday, the United States and Russia reached separate agreements to stop attacks on energy and maritime targets. Washington also agreed to press for the lifting of some sanctions against Moscow. In the event that a peace agreement is reached between Russia and Ukraine, the potential for a relaxation of U.S.
Trump hosts top US oil executives as trade wars threaten
Donald Trump, the U.S. president, will be hosting top oil executives in the White House this Wednesday to discuss plans for boosting domestic energy production amid falling crude prices and trade wars. This will be Trump's first meeting with oil and gas executives since he returned to the White House in January for his second term.
Kazakhstan fires its energy minister amid tensions between OPEC+ and oil majors
The country's president announced on Tuesday that Kazakhstan's Energy Minister will step down as a minister. This comes amid the government's struggle to convince U.S. companies and European oil firms to reduce production levels above OPEC+ targets. In a Tuesday decree, the president's…
Chevron says it's confident about merger after buying 5% of Hess shares
Chevron said it had bought 4.99% of Hess Corp common shares in this year. This shows its confidence that the planned acquisition will be completed, according to a filing made by the oil giant on Monday. In October 2023, the second largest U.S. oil company agreed to purchase Hess for…
Petrobras animal center at Oiapoque will be ready for inspection by April
Documents seen by on Monday showed that the environmental agency Ibama should be able to inspect the veterinary center operated by Petrobras Brazil in the Amazon region in April. The center is designed to help animals in case of an oil spill. Petrobras has not yet met the demands…
Boeing, Apple and GE will join US business delegation to Vietnam next week list shows
A list of participants, including Boeing, Apple, and other top U.S. companies in tech, defence, and energy, will be joining a large mission to Vietnam, next week. This could be a sign of confidence, as Vietnam tries to avoid U.S. tariffs on trade. The US-ASEAN Business Council is an advocacy group that organizes the annual mission.
Experts say that Trump's tariffs against steel and aluminum will increase costs for US energy companies
The proposed U.S. steel and aluminum tariffs will increase costs for U.S. Oilfield Services companies that rely on this metal for their operations. Oilfield service firms like ChampionX and Patterson UTI are the backbone for the North American oil and natural gas industry. They provide essential equipment and services to drill…
Exxon Mobil to receive LNG from ARC Resources
ARC Resources announced on Tuesday that it had signed a long-term liquefied gas supply contract with a division of Exxon Mobil. In recent years, global LNG demand has increased amid a move towards cleaner energy. The U.S. is now a major supplier of both Europe and Asia. ExxonMobil…
Frontera says Guyana oil license remains valid amid government cancellation notice
Frontera Energy, a Canadian oil company, said Monday that its exploration license for the Corentyne Block off the coasts of Guyana is still valid. It's evaluating all legal options in order to assert its rights. Guyanese authorities gave Frontera Energy and CGX, the joint license holders…
