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Halliburton profits slump on weak drilling demand in North America and the Middle East
Halliburton announced a 33% drop in profits for the second quarter Tuesday due to weak demand in North America, Saudi Arabia, and Kuwait. The company warned of a negative impact on earnings in the second quarter due to President Donald Trump’s tariffs, and lower oilfield activities in North America.
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US crude, gasoline stockpiles fall, distillates build, EIA says
The U.S. Energy Information Administration reported on Wednesday that crude oil and gasoline stocks in the United States fell last week. This was due to stronger demand and increased exports. Meanwhile, distillate inventories rose. The EIA reported that crude inventories dropped by 3.2 millions barrels…
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Mellitah Oil and Gas, Hill International to Collaborate on Libya Gas Project
Mellitah Oil and Gas will work with U.S. construction consulting firm Hill International to manage a project which aims to boost Libya's gas output, the country's National Oil Company (NOC) said in a statement on Wednesday.NOC said a cooperation agreement was signed during a visit by U.S.
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Greece invites Libya for maritime zone talks in order to improve strained relations
KyriakosMitsotakis, the Greek Prime Minister, said late Wednesday that Greece had invited Libya's internationally recognized government in Tripoli for talks to begin on delineating exclusive economic zones on the Mediterranean Sea. The move aims to repair the strained relations between the two neighbors…
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Nippon Steel to Supply Material for Vestas Wind Towers
Nippon Steel signed a cooperation memorandum with Denmark's wind turbine maker Vestas Wind Systems on Wednesday to supply steel for Vestas' wind towers for European, Asian and Japanese markets, Japan's industry ministry said.The agreement was part of a broader push by Japan's Ministry of Economy…
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Due to disagreements, informal miners in Peru have suspended talks with the government.
One of the leaders of the protest said that informal miners in Peru may resume their protests if they cannot reach an agreement with the government.
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Fitch raises Pemex’s credit rating from 'BB' to 'BB+' citing a stronger government's support
Fitch Ratings upgraded Petroleos Mexicanos (Pemex), the Mexican state energy company, to a 'BB' credit rating from a 'B+,' on Tuesday.
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Baker Hughes reports that US drillers have cut back on oil and gas rigs in the US for a second consecutive week.
Baker Hughes, a leading energy services company, said that the U.S. firms have cut back on oil and gas rigs for the second consecutive week.
Latest news
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Baker Hughes reports that US drillers have cut back on oil and gas rigs in the US for a second consecutive week.
Baker Hughes, a leading energy services company, said that the U.S. firms have cut back on oil and gas rigs for the second consecutive week.
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Exxon exceeds profit expectations with higher production despite low oil prices
Exxon Mobil - the United States’ largest oil producer - beat Wall Street expectations for the second quarter profit on Friday…
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Kuwait Petroleum's annual profit drops 5.8% due to lower crude prices
Kuwait Petroleum Corporation, a state-owned company, posted a net loss of 1.366 billion dinars (US$4.47 billion) in the fiscal…
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EIA data show that US oil production rose to record levels in May.
The U.S. Energy Information Administration reported on Thursday that U.S. crude production reached a record 13,49 million barrels per day in May…
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New Zealand lifts the ban on oil and Gas Exploration imposed by Ardern
The New Zealand parliament passed legislation on Thursday to reopen New Zealand for offshore oil exploration. This lifted…
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New Zealand lifts the ban on oil and Gas Exploration imposed by Ardern
The New Zealand parliament passed legislation on Thursday to reopen New Zealand for offshore oil exploration. This lifted…
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China certifies 147,000,000 barrels of oil in Sinopec's shale fields
Sinopec Corp., a Chinese company, announced on Thursday that the Chinese government had certified geological reserves of…
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China certifies 147,000,000 barrels of oil in Sinopec's shale fields
Sinopec Corp., a Chinese company, announced on Thursday that the Chinese government had certified geological reserves of…
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Watchdog: Former CNOOC executive is expelled from Chinese Communist Party
The Central Commission for Discipline Inspection announced on Wednesday that a former senior executive of state-owned oil…
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Origin Energy's APLNG revenues in the fourth quarter fell as lower LNG prices weighed.
Origin Energy, Australia, reported a sequential 6% decline in revenue for the fourth quarter from its stakes in Australia Pacific LNG project (APLNG)…
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US crude, distillate inventories rise, gasoline draw down, EIA says
Updates include the price reaction and background data on refineries. The Energy Information Administration reported on Wednesday that U.S.
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Glencore expects to save $1 billion by 2026 following a review of its assets
Glencore reported on Wednesday lower copper production in the first half and said that it hopes to save $1 billion by the…
Exploration
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Mexico's Pemex increases its net profit in the second quarter
Mexico's energy state company Pemex reported Monday a change in net profit for the second quarter. The net profit reached 59.52 trillion pesos…
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Venezuelan oil company PDVSA is ready to resume work on previous US terms
Sources at the company said that Venezuela's PDVSA, the state-run oil firm, is preparing to resume its work in its joint…
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Baker Hughes reports that US drillers have cut oil and gas rigs 12 times in 13 weeks.
Baker Hughes, a leading energy services company, said that the U.S. oil and gas companies have cut back on the number of…
Drilling
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Chevron warns Hess employees to keep safety in mind while they wait for job updates
Two Hess workers who spoke to us said that Chevron leaders had told them to focus on safe operations, and they would hear…
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Sinopec, a Chinese company, signs a contract with Algeria to explore saline gas blocks
Sinopec Group, China's oil and gas state major, announced that it had signed a contract for the exploration of a natural…
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Azeri BTC oil loads at Ceyhan resumed after contamination scare
Azeri BTC crude oils loadings from Turkish port of Ceyhan resumed Wednesday after an increase in checks due to contamination…
Production
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Equinor extends Norway LNG Outage until August 3
Equinor, a Norwegian company, has extended a maintenance outage to its Hammerfest LNG Terminal, Europe's biggest liquefied…
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Norway's total oil and gas production beats expectations in June
Norwegian Offshore Directorate, NOD, said that Norway's combined oil-and-gas production in June exceeded the official forecast by 2,3%.
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Oil Prices Rise Alongside High Demand, Red Sea Shipping Attacks, and Lower US Production
Oil prices rose on Wednesday as investors weighed strong U.S. gasoline demand data, attacks on shipping in the Red Sea, and a forecast for lower U.S.
