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Petrobras Q4 total production down 10.5%; sales and exports are also down
Petrobras, the state-owned oil company in Brazil, reported a 10.5% drop in its fourth-quarter total oil and gas production compared to a year ago. Sales and exports were also down. Petrobras, Latin America’s largest oil company, reported a total oil and natural gas production of 2…
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Senate confirms Chris Wright, a fracking executive, as Trump's Energy Secretary
The U.S. Senate confirmed Chris Wright as President Donald Trump's Energy Secretary on Monday. Wright is a fracking executive. Seven Democrats and an Independent who caucuses alongside Democrats crossed the aisle. Wright, 60 years old, has been the CEO of Liberty Energy, since 2011.
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BP to invest upto $25 billion in Iraqi Kirkuk oil and Gas
A senior Iraqi official said that BP will spend up to 25 billion dollars over the life of a project redeveloping four Kirkuk oil fields and gas. Baghdad is trying to win foreign investment back. If the deal is finalized, which could happen in the next few weeks, this would be a major breakthrough for Iraq.
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Oman Invites Offshore O&G Bids on Three Blocks
The energy ministry announced on Tuesday that Oman had invited investors to bid for exploration of oil and gas within three concessions areas. It is seeking help to monetize the country's energy assets.The ministry announced on its X Twitter account that the three concessions onshore are Block 43A (Block 66)…
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OPEC and Saudi Arabia spare oil production capacity
A U.S. official stated on Tuesday that U.S. president Donald Trump would restore his "maximum-pressure" campaign against Iran and bring its oil exports down to zero. This would increase oil prices, and force others to pump even more. Saudi Arabia, the United Arab Emirates and Iraq…
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Colombia's Petro wants Ecopetrol to sell its fracking operations.
The Colombian president Gustavo Petro called on Tuesday for the sale by Ecopetrol of its fracking operations within the United…
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Senators introduce resolution to repeal Biden methane fees rule
The U.S. Senate Republicans introduced a resolution on Tuesday to overturn Biden's administration's proposed methane emission fee…
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Sources say that RPT-Encino owner is considering a $7 billion sale and IPO.
CPP Investments, a Canadian pension fund, is considering strategic options for Encino Acquisition Partners, such as a sale…
Latest news
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OPEC+ rolls over oil policy, ditches US government data
OPEC+ decided to continue its policy of increasing oil production gradually from April and removed U.S. Energy Information…
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Colombia's Ecopetrol extends joint venture agreement with Occidental Petroleum for Permian Basin
Ecopetrol, a Colombian energy firm, announced on Monday that it had reached an agreement with Occidental Petroleum to renew…
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Sources say that OPEC+ is likely to stick with its plan to increase oil production.
Despite Donald Trump's pleas to lower oil prices, delegates of the producer group said that OPEC+ would likely stick to its…
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Data shows that Russia's LNG exports in January fell by 5%.
LSEG's preliminary data on Monday showed that Russia's LNG exports in January were down 5% compared to a year ago, at 2.75 million metric tonnes.
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Sources: Encino's owner is considering a $7 billion sale and the IPO of an energy producer.
CPP Investments, a Canadian pension fund, is considering strategic options for Encino Acquisition Partners, such as a sale…
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Novak claims that OPEC+ discussed Trump's call to increase oil output
Alexander Novak, Deputy Prime Minister of Russia, said that the Joint Ministerial Monitoring Committee of the OPEC+ Group…
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Two Russian sources claim that Saudi Arabia and the UAE are possible locations for a Trump-Putin meeting.
Two Russian sources familiar with the discussions said that Russia is considering Saudi Arabia and the United Arab Emirates…
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Sources say that US energy company Talos is set to name Shell CEO Goodfellow its next CEO
Two people with knowledge of the matter confirmed on Sunday that Talos Energy is preparing to appoint veteran Shell executive Paul Goodfellow…
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Austrian OMV and ADNOC are interested in acquiring Nova Chemicals
Austria's OMV, and Abu Dhabi National Oil Company's (ADNOC), said that they were considering a joint-venture to purchase Canada's Nova Chemicals…
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Baker Hughes reports that US drillers have added oil and gas rigs to their fleet for the first time in 8 weeks.
Baker Hughes, a leading energy services company, said that the U.S. added oil and gas rigs this week for the first eight-week period.
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Infinity Natural, backed by Pearl Energy, valued at $1.3 Billion as shares soar in NYSE debut
Infinity Natural Resources, a company owned by private equity, was valued at $1.3 billion after its shares rose 10.8% on…
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Mexico's Pemex, billionaire Slim renegotiate deepwater gas project
Five sources with knowledge of the situation said that the team of Mexican billionaire Carlos Slim and the state energy company…
Exploration
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Africa's biggest copper countries are focusing on trade profits
Africa's largest copper producers, Democratic Republic of Congo (DRC) and Zambia (Zambia), are working to get exposure to metal trading…
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Sources say that OPEC+ is unlikely to alter its output policy at the Monday meeting of the panel.
OPEC+ will not change its plans to gradually increase production when it meets Monday, delegates told the producer group.
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Chevron's refining division posts its first loss in 4 years, missing earnings estimates
Chevron Corp. reported earnings for the fourth quarter below Wall Street expectations on Friday. Weak margins forced its…
Drilling
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Baker Hughes signs supply agreement with Venture Global
Baker Hughes, a provider of oilfield services in the United States, announced on Thursday that it had signed an agreement…
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Venture Global LNG has almost completed repairs at Calcasieu Pass Power Plant -FERC
A federal inspection report released on Wednesday said that Venture Global LNG may be able to complete power generator repairs…
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Trinidad and Tobago auctions 26 deepwater oil and natural gas blocks at the largest ever auction
Official notices state that Trinidad and Tobago offered 26 offshore oil and natural gas blocks on Tuesday in its largest…
Production
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Kazakhstan's daily crude oil production at a record high amid Chevron led expansion
Official data show that oil production in Kazakhstan hit a record of 278 499 metric tonnes on Sunday, just a few days after…
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Energean UK forecasts higher production in 2025 on the strong Israel growth
Energean, a UK-based producer of gas, said it expected higher production levels in 2025. The company is betting on increased sales in Israel…
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Enverus says that US energy mergers could slow down in 2025 due to smaller deal sizes.
According to an Enverus report released on Tuesday, the pace of U.S. public-to-public upstream mergers in 2025 could slow…
