The U.S. seeks to waive sanctions on Serbia's NIS Oil Company, which is owned by Russians.
The company announced on Friday that Serbia's Russian owned NIS (NIIS.BEL), the only oil refinery in the country, had applied for a new U.S. sanctions waiver to continue 'operations' after July 1, when the existing one expires. NIS cannot import or process crude oil without the waiver. NIS supplies up to 80% the Serbian market…
Sources: Haleon is among the bidders for Thorne supplements manufacturer
Haleon, a consumer health company, bid on Thorne U.S. Supplements firm, according to sources. This was done at a moment when Haleon hoped to expand into the approximately $70 billion U.S. Haleon, a consumer health company, bid for Thorne U.S. supplements firm on Friday. This was at a time when Haleon was hoping to expand in the roughly $70 billion?U.S.
Baker Hughes reports that US energy companies have added the most rigs per week in a row since June 2022.
Baker Hughes, an energy services company, said in its report on Friday that the U.S. energy companies?had experienced their largest weekly increase of rigs since June 2022. The number of oil and gas rigs, a good indicator of future production, increased by 10 during the week ending June 26. This is the biggest weekly increase in the last four years.
Andy Home: Copper prices are soaring, but smelters cannot rely on them to survive.
Copper's value for smelters is at an all-time low, despite the price of the metal being near its highest level. This is due to the unprecedented collapse in processing fees. Companies that refine copper concentrate from mined concentrate are now dependent on the value of what comes with it for their survival.
Andy Home: Copper prices are soaring, but smelters cannot rely on them to survive.
Copper's value for smelters is down after a massive drop in processing fees. Companies that refine copper concentrate from mined concentrate are now dependent on the value of what is included in the?copper' for their survival. Gold, silver, and sulfuric acids are by-products from the conversion…
OPEC Oil Producer Group Membership Timeline
Sources told Reuters on Thursday that Iraq had considered leaving the Organization of Petroleum Exporting Countries (OPEC) if it's?oil output quota was not increased. This comes weeks after the United Arab Emirates left the organization. Since late 2016, OPEC and Russia have worked together to manage the oil market through quotas.
Trump calls the UK's next expected PM 'extremely Liberal'
U.S. president Donald Trump said that he knew 'little' about Andy Burnham who is expected to be the next British prime minister. He described him as "mayor of "a town", "extremely Liberal" and someone 'who wouldn't likely open up the North Sea for more oil drilling. In remarks late on Wednesday the U.S.
BP signs a concession agreement with ADNOC and partners for Bab Gas Cap Project
BP announced on Thursday that it had'signed a concession -agreement' with ADNOC and partners for the development of the Bab Gas Cap Project in the UAE. BP will take a 10% share, marking its first access to Abu Dhabi upstream gas resources. The project will consist of three?reservoirs within the Bab Field onshore and is expected to produce up to 1…
Vaar Energi to invest $1.4 billion in 3 oil and gas discoveries offshore Norway
Vaar Energi, together with its partners, will invest approximately 14?billion crowns (1.42 billion dollars) in order to develop three oil & gas discoveries offshore Norway. This is according to plans that were submitted to the Energy Ministry on Thursday. Cerisa Nord, Gjoea Nord, and Ofelia…
Chile's Codelco will consider asset sales and partnerships as part of its investment review
Codelco is a state-owned company in Chile and one of the world's biggest copper producers. As part of an overall review of investment priorities, Codelco's Chairman Bernardo Fontaine announced on Wednesday that it would consider asset sales as well as partnerships. Since years, different…
Executive says TotalEnergies will begin drilling in Suriname in the next year
The vice president of exploration for the Americas at TotalEnergies, a French energy producer, said that the company expects to start a new drilling campaign in Suriname next year in order to expand its exploration targets. TotalEnergies’ largest project in?Suriname is the $10.5 billion Gran Morgu off-shore project.
The Russian parliament has approved tax changes to combat fuel shortages
The Russian parliament approved on Wednesday amendments to its Tax Code to?address?growing fuel shortages caused by Ukrainian drone attacks against oil refineries. Subsidies on fuel imports are also offered, based on Indian delivery prices and costs. Fuel shortages in some regions of the country have led to fuel price hikes and long queues.
Pharos Energy to be acquired by Ratio Petroleum, based in Israel
Ratio Petroleum Energy agreed to purchase Pharos Energy for a total of PS124.3million ($164 million) in an all cash deal. This gives the Israel-based company access to production assets located in Egypt and Vietnam. The transaction takes place amid increased commodity price volatility, linked to the U.S.-Israeli War on Iran.
Strikes are increasing in Australia's major export sectors
Labor unrest is rife in Australia's resource sector. The lucrative iron ores mines and ports are facing increased strike risks. This comes on top of high costs and bureaucracy that, according to majors such as BHP, are deterring investors from investing. Since the Labor government passed a law…
Petronas finds new gas in Suriname offshore block. Discoveries equivalent to 1 billion barrels
The president of Suriname Jennifer Simons announced on Tuesday that Malaysia's state energy company Petronas has made another gas find at the offshore 'Block' 52 in Suriname. A company executive stated the eight discoveries contained more than one billion barrels oil equivalent. Suriname…
Alo Yoga is ready for sale or public offering after the owner sold his wholesale T-shirt business
Last month, in a deal that drew little interest from Wall Street's investors, the owner Alo of popular yoga apparel maker Alo agreed to sell Bella+Canvas wholesale T-shirt division. Alo's founders and equities experts haven't spoken about the future of the brand, but retail M&A advisors say…
Congo looks to coops and credit scheme to finance mine workers' equity stakes
A draft decree, seen on Tuesday by, showed that the Democratic Republic of Congo is considering a scheme to?help mining workers acquire mandatory stakes within the companies for which they work through worker cooperatives or company-financed credits. The authorities in the top cobalt producer…
Norway's gas production lags behind the forecast for May
Norwegian Offshore Directorate (NOD), on Tuesday, reported that Norway's combined oil and gas production in May exceeded an official forecast by?2.9%. Norway is Europe's biggest supplier of natural gases and oil. The output varies month-to-month depending on maintenance needs and other stops at more than 100 offshore fields.
US plans to reduce costs for energy drilling on federal land
On Monday, the Trump administration proposed looser regulations?for oil-and-gas drilling operations on federal lands. This included a drastic cut in?cleanup costs for abandoned wells. The'moves' are aligned with the goal of President Donald Trump to reduce regulation for businesses and to…
Azule Energy approves $5.1 billion offshore Angola project
Azule Energy - a 'joint venture' between BP, Eni and?Their partners - has approved the $5.1 Billion Greater PAJ offshore oil projects in Angola. This was announced by company and government officials at a Monday signing ceremony. The project is Angola’s first integrated cross block development.
Norway Oil Service Firms Threaten Lockout to End Strike
Offshore Norway announced on Monday that it would lock out the Safe Labour?union?oil service employees?from 27th June?in response to a strike going on over wages. In a press release, the group representing oil service companies stated that the lockout would impact 1,272 members of Safe out of the roughly 1,770 covered under the wage agreement.
State regulator: North Dakota oil production expected to remain steady, despite the price decline
North Dakota's regulator stated that energy companies will likely keep crude production steady in North Dakota this year, the state with the third largest oil production in the United States, despite the sharp drop in oil prices following the signing of an interim agreement between the United States, Iran, and the end of their war.
Baker Hughes says US energy companies have added rigs eight times in nine weeks.
Baker Hughes, a widely followed energy services company, said Thursday that U.S. firms added rigs this week for the eighth time in nine weeks. The oil and gas rig count rose to 563, its highest level since early June, in the week ending June 18. Baker Hughes released its report one day earlier than usual due to the "U.S.
Red Sea Global wants to 'bring back to life' a troubled Saudi island of luxury.
The CEO of Red Sea 'Global, a state-backed Saudi developer, confirmed to the media for the first time that the company will be taking over the Sindalah Island resort. This is part of the Kingdom's efforts to save one the most visible blunders in its Vision 2030 Plan. John Pagano said on the…
Repsol, the Spanish energy company, is expanding into a new oilfield in Venezuela
Repsol wants to expand its portfolio in Venezuela, adding the Horcon oilfield, said the 'Spanish' energy producer on Thursday. This comes after signing agreements with Venezuelan government earlier this week. The company is an important partner for Venezuela's PDVSA, the state-owned oil and gas company.
Sources say that Congo miners want to delay the 5% worker equity rule until July deadline.
According to three sources and a document, miners in the Democratic Republic of Congo want to delay a government directive that requires them to give a 5% stake to Congolese workers. Unions, however, are pressing for immediate implementation before a deadline of July 31. A union leader claimed that no company had yet followed the directive…
Japan's Cosmo energy to continue focusing on Middle East crude despite Iran War
The CEO of Japan's Cosmo Holdings said that despite the Iran War, the company will continue to focus on crude procurement in the Middle East and upstream investment, citing its cost-competitiveness, and the suitability of the crude produced there for Cosmo's refineries. As with its larger counterparts…
Venture Global and Germany's EnBW extend partnership with new LNG contracts
Venture Global announced on Wednesday that it has expanded its agreement with Germany's EnBW to supply liquefied gas of about 0.82 million metric tons per year for five years starting in 2026. This agreement builds on earlier agreements between the two companies for a supply of?2 MTPA per…
IEA: Ukrainian attacks cause Russian oil production to fall 10% below target for May
The International Energy Agency (IEA), which is a part of the United Nations, said that Ukraine's attacks on Russia's energy infrastructure caused its crude oil production to drop by around 5% on an annual basis last month. This was 10% below May’s target. Ukraine has doubled its attacks…
MOL receives US license extension to negotiate the purchase of sanctioned NIS Oil firm, reports news agency
According to a report by the Serbian news agency Tanjug, the Office of Foreign Assets Control of U.S. Treasury has granted a license to Hungary's MOL energy company to negotiate a purchase of a majority stake in Serbia's Russian owned NIS up until July 1. The report did not provide any further…
Australian explosives maker Orica flags Ebola, coal risks
Orica, world's largest supplier of commercial explosives said Wednesday that it is facing a number of challenges in the?world, which could impact demand for its products, such as Ebola, and a coal mine collapse in China. Orica CEO Sanjeev Gandhi told a Melbourne Mining Club meeting that a…
China taps deep shale deposits in Sichuan to boost its gas production
Sinopec experts and industry consultants say that China is increasing gas drilling in deeper, more ancient shale deposits of the Sichuan Basin, which could increase domestic production by over a third before 2035. State oil giants, whose shale-gas output is below government targets, and only 10% of China's gas production…
Equinor abandons target for renewable energy
In a Tuesday strategy update, the Norwegian oil and natural gas company Equinor announced that it had 'further reduced its ambitions in renewable energy,' dropping a target of 2030 installed capacity and cutting investment plans. This reflects a trend in the industry, as other companies,…
Syria signss deal with ConocoPhillips and Novaterra to revive its gas production
According to a 'joint announcement, the Syrian Petroleum Company (SPC), U.S. based ConocoPhillips, and energy company Novaterra signed a 'deal' in Damascus, Tuesday, to develop new gas fields and increase production at existing ones. Syria's energy industry was ravaged by its 14-year civil war and produces just a fraction the amount of electricity needed.
MOL Hungary, Gazprom Neft Russia, and Gazprom will get an extension of NIS talks
Serbian President Aleksandar Vucic announced on Tuesday that the initial deadline had expired. He said that the talks between Hungary's MOL and Russia’s Gazprom and Gazprom should be extended by 15 days. Last October, the Office of Foreign Assets Control of the U.S. Treasury imposed sanctions…
Equinor abandons target for renewable energy
In a Tuesday strategy update, Equinor, the Norwegian oil and gas group, announced that it had further'scaled back' its renewable energy ambitions. It has dropped a 2030 target for installed capacity and cut investment. This change reflects a broader industry trend. In recent years, peers…
A Ukrainian drone strikes the largest refinery in Moscow Region
On Tuesday, a Ukrainian 'drone' caused a fire at the largest refinery in the Moscow region and damaged an 'a' facility. Oil producer Tatneft also announced a nationwide fuel purchasing cap. These are signs of how Kyiv is affecting Russian energy infrastructure. Ukraine has doubled its attacks on oil refineries since the beginning of 2026.
Interfax reports that Tatneft, a Russian oil company, has limited sales at its stations.
Interfax reported that Tatneft, the Russian oil producer, has imposed restrictions on the sale of gasoline and diesel at all its stations in Russia. Interfax reported that a company hotline said temporary limits were imposed on fuel purchase and that only cash payments would be accepted.
Sources: Inpex has shut down one LNG train in the Australian Ichthys plant because of a strike
?Japan’s Inpex shut down one of its two liquefied gas production trains?at the Ichthys facility in?Australia because of a strike. Two?people?with?knowledge of the matter?said on Tuesday. As global LNG supplies tighten after the U.S.-Israeli war against Iran, the closure of Australia's largest LNG plant will likely affect exports. Inpex declined to comment.
Karoon Energy, Australia's largest energy company, reduces its output forecast for 2026 due to US project delays; shares fall
Karoon Energy, based in Australia, lowered its 2026 production forecast on Tuesday due to a technical problem that delayed output at its Who Dat U.S. project until next summer. This sent its shares down by more than 15%. The oil and natural gas producer expects the total production of the…
ConocoPhillips to sign agreement with Syria to restart gas production, reports FT
The Financial Times, citing people familiar with this matter, reported that U.S. Oil and?Gas Producer ConocoPhillips was set to sign a deal with Syria's new government to revive gas production. The report said that ConocoPhillips will work with Novaterra Energy to develop existing gas reserves and search for?new ones…
Michael Belenkie, CEO of Advantage Energy, steps down. An interim leader is named.
Michael Belenkie, president, CEO, and board director of Canadian company Advantage Energy, announced on Monday that he has resigned, effective immediately, due to a shareholder push for'stricter financial oversight. Calgary-based energy company, Alberta Energy Productions Inc. has appointed…
Energy shares drop as Iran deal reduces Hormuz disruption risks
U.S. Energy shares fell on Monday in premarket trading as crude prices dropped after Washington and Tehran reached a preliminary deal that could end the months-long conflict and open?the Strait of Hormuz. The?U.S. The?U.S. U.S. president Donald Trump announced on Sunday that the Strait of Hormuz would be "toll-free" and a U.S.
Colombia's Ecopetrol signs final agreement with the main union
Ecopetrol, Colombia's state run oil company, has announced that it has signed a new collective bargaining agreement (CBA) with its main workers union (USO). The agreement reached with the union of oil workers will last six years, starting January 1, 2026. Ecopetrol has also signed 66 agreements with other labor unions.
Energy shares drop as Iran deal reduces Hormuz disruption risks
U.S. Energy shares fell on Monday in premarket trading as crude prices dropped after Washington and Tehran reached an initial agreement that could end months-long conflict, and reopen the Strait of Hormuz. Pakistan's Prime Minister said that the U.S. will sign a Memorandum of Understanding with?Iran?
Australian unions plan to extend Inpex LNG strike beyond June 23
Australia's Offshore Alliance announced on Monday that it will notify Inpex about its plans to extend industrial action beyond June 23. This comes a day after Australia's workplace tribunal denied Inpex its request to stop strikes at its Ichthys LNG Project. In a recent Facebook post, the…
Woodside Energy in Australia says that it has no knowledge of any Exxon Mobil proposal.
Woodside Energy, Australia's energy company, said on Monday that it was not aware of any?proposal by Exxon Mobil in the United States and had not been involved in discussions about a possible transaction. This is in response to recent media speculation. Woodside's share price fell by 2.7% on the Australian Stock Exchange in the early trading on Monday.
Western Australia opposes a possible Exxon acquisition of Woodside Energy
Roger Cook, Premier of the State, said that on Sunday, the West Australian government would try to prevent a takeover by Woodside Energy which involved moving its headquarters. Woodside has led the development of Australia's Liquefied Natural Gas industry since 1990. Bloomberg News, citing sources familiar with the situation, reported that ExxonMobil, a U.S.
Australia's tribunal rejects Japan's Inpex move to stop LNG strike
A?Australian labour tribunal rejected a?request by Japanese gas company Inpex on Sunday to stop a'strike of?some 400 oil and?gas workers in Australia at its Ichthys LNG Project. The strike is now scheduled to last until the 23rd of June, with all cargoes being prohibited from loading. An?Inpex…
Baker Hughes reports that US energy companies have cut back on drilling for the first time in eight-weeks.
Baker Hughes, a well-respected energy services company, said that U.S. firms had 'cut back on the number of operating rigs for the first time in 8 weeks. The number of oil and gas rigs, a good indicator of future production, dropped by one to 562 during the week ending June 12. Baker Hughes…
Sources say that BP has begun the process of selling stakes in Gulf of Mexico projects.
Four people familiar with the matter have confirmed that BP has begun a process of selling stakes in its Gulf of Mexico project. This would be Meg O'Neill's very first move as CEO. BP is one of the biggest operators in the Gulf 'Mexico. It has been weighing a possible sale of minority stakes to Tiber and Kaskida projects since a little over a year.
Shell suspends its $3 billion share purchase
Shell?said Friday that it would be pausing its $3 billion share purchase?programme between?June '12 and the market close of July 14 due to certain requirements relating to its deal with ARC Resources. Shell, who announced its $3 billion program in May, said that any shares not purchased during…
Sources say that BP has begun the process of selling stakes in Gulf of Mexico projects.
BP, the British 'oil major, has begun a 'process' to sell stakes in its Gulf of Mexico project, according to four sources with knowledge of this matter. This would be Meg O'Neill's very first move as CEO. BP is one of the biggest operators in the Gulf of Mexico and has been weighing a sale…
ENN Natural Gas' $11.6 Billion ENN Energy purchase collapses due to regulatory hurdles
ENN Natural Gas failed to secure the necessary regulatory approvals by the deadline of June 12, the companies announced on Friday. The deal, first announced in March of last year at HK$90.50bn ($11.55bn), values ENN Energy as HK$90.50bn ($11.55bn). ENN?Natural gas already owns more than 34% of ENN Energy.
India palm oil imports continue to be below average in May despite a slight increase.
India's palm-oil imports rose in May after a four month low. However, they remained below normal levels as refiners purchased more soyoil, which was cheaper, following the waning of palm oil's price advantage. Stocks in the top two producers, Indonesia and Malaysia could grow due to lower…
Woodside exercises pre-emptive rights to purchase 10.67% stake of Browse JV from PetroChina
Woodside Energy announced on Friday that it had exercised its pre-emptive rights to purchase PetroChina's 10.67% share in the Browse gas fields off 'the coast of Western Australia'. This blocked a deal with Japan's INPEX. Woodside has agreed to pay PetroChina $225 million in cash and reimbursement for all contributions made up until June 30, 2025.
Venezuela signs pacts with Shell to develop Loran gas field
Venezuela signed five agreements ?with ?British oil major Shell on Thursday to advance oil and gas projects, including the company's participation in the coveted 7-trillion-cubic-feet Loran offshore gas field, the government said. Shell had already signed agreements with Venezuela for these projects and others earlier this year.
France accuses Israeli BlackCore of interfering in New York and Scottish elections
Viginum said that the French disinformation detection service suspected Israeli firm BlackCore of interfering with France's local election in March. They also suspect them of meddling in elections New York City, Scotland, Angola, and Togo. Viginum, France's disinformation detection service…
Kharg Island, Iran and its energy sector
Donald Trump, U.S. president on Thursday, said that the United States would strike Iran "very heavily tonight". He also stated his desire to seize Kharg Island - the heart of the world's biggest oil producer. Iran is the third largest producer of oil in the Organization of Petroleum Exporting Countries. It exports 90% of crude via Kharg Island.
OPEC lowers its forecast for global oil demand growth in 2026
OPEC has lowered its projection for the world's oil demand in 2026, to 970,000 barrels a day. This is the second consecutive downward revision. The group has seen a lesser impact on consumption than other forecasters, such as the U.S. Energy Information Administration or the International Energy Agency.
Serbia concludes negotiations on shareholder agreement with Hungary's MOL regarding NIS oil company
Serbia completed Wednesday talks on a shareholders agreement with MOL, Hungary’s largest oil and gas company, regarding its minority stake in Russian-owned, U.S. sanctioned NIS Oil & Gas. Serbia's Energy Minister Dubravka Djedovic Handanovic announced this in an Instagram post. MOL's acquisition talks with NIS's majority owners…
Bayer wants to accelerate biofuel production plan in response to the energy crisis caused by the Iran War
Bayer, a drug-making giant and crop science company, said that it hopes to accelerate a plan in order to facilitate the?North American production?of biofuel feedstocks such as camelina following the?Iran war. The war has caused a'surge' in fossil fuel prices, which in turn has led to renewed interest in the use of biofuels.
Andy Home: Growing stock overhang dampens hopes for a recovery in nickel.
Nickel's early year rally is a collective wager that Indonesia's multiyear production surge will finally abate, allowing for the?market rebalance to occur after four consecutive years oversupply. A growing mountain of excess metal in the London Metal Exchange (LME) or Shanghai Futures Exchange…
Serbia's NIS wants a new US license to operate after 16 June
NIS Serbia, owned by Russians, operates the only oil refinery in Serbia. The company has now applied for a 'U.S. The company announced on Wednesday that it would apply for a new?U.S. NIS said that in its request to U.S. Treasury’s Office of?Foreign Assets Control (OFAC), it highlighted "the…
Indonesia increases the price of fuel widely used by 32% and adds to cost of living concerns
Investors are concerned about government spending, so Pertamina raised fuel prices in Indonesia by nearly a third. The finance minister stated that the increase would have a limited impact on inflation. Pertamax, the 92-octane fuel widely used by Indonesia's middle classes, saw its price increase to 16,250 rupiah (US$0.9053) a litre. This is a 32.1% rise.
Ukraine's Naftogaz signs preliminary agreement to restructure $1.4 Billion in Eurobonds
Naftogaz, the Ukrainian energy company owned by the state, said that it had?reached? a preliminary agreement for restructuring two Eurobond tranches of EUR1.2 billion ($1.38billion) due in this year and 2028. The Russian war is continuing to cause damage to its infrastructure. Subject to approval…
Devon Energy expects to produce 1.38 million boepd in 2026 after Coterra's acquisition
After the completion of their merger with Coterra Energy, Devon Energy forecasted that its production in 2026 would average 1,38 million barrels per day. The $58 billion merger completed in May created one of the biggest independent oil and?gas?producers? in the U.S., with a presence in a half dozen regions…
BP's upstream unit will be headed by Gordon Birrell and downstream by Richard Harding
BP announced on Tuesday that Gordon Birrell, a company veteran, will lead the upstream?unit and Richard Harding is the interim head of its downstream?unit. This change was part of BP's earlier announced restructuring into?two major business segments. BP fired its former Chairman Albert Manifold 'last month due to bullying allegations.
Inpex will seek an order from Australia's workplace Tribunal to stop the labour action at Ichthys LNG
Japan's Inpex announced on Tuesday that it will seek urgent orders from Australia's Fair Work Commission in order to stop?protected?industrial action?at its Ichthys?liquefied?gas?facilities. The Offshore Alliance (Maritime Union of Australia, Australian Workers' Union) announced on Monday…
Denmark awards cement producers $2.6 billion to carbon capture and storage
Aalborg-Portland, the largest emitter of carbon dioxide (CO2) in Denmark, signed on Tuesday a contract for 16.5 billion crowns (2.55 billion dollars) worth of subsidies to be paid by 2030. Denmark has set one of the most ambitious goals in the world for greenhouse gas reduction. It aims to reduce emissions by 70% compared to 1990 levels.
FT reports that BP investors want clarity on the ousting of the chair.
The Financial Times reported that top BP investors and ex-executives'said that they were in the dark as to the 'exact circumstances which led to the departure of a former?chair Albert Manifold. BP didn't immediately respond to a request for a statement outside of regular business hours. Manifold was ousted by BP's Board in May…
Eni and Petronas establish joint gas venture in Southeast Asia
After signing an agreement for investment in November, Eni of Italy and Petronas of Malaysia have created a joint venture that combines energy businesses throughout Indonesia and Malaysia. This move is part Eni's "satellite strategy" to separate specific assets and develop them independently with the assistance of a partner.
The US allows MOL, the Hungarian oil company, more time to negotiate with NIS, the Serbian oil company.
The?U.S. has?granted more time to Hungary's largest oil-and-gas company, MOL MOLB.BU. MOL announced late Saturday that the government will 'negotiate' the?purchase of a majority share in Serbian NIS NIIS.BEL. This oil company is controlled by Russia. The deal involves the purchase of a?56.16 % stake in?NIS held by Gazprom (SIBN.MM), based in Russia.
US Energy Secretary says that lower gas prices will eventually lead to a resolution with Iran
Chris Wright, the U.S. Energy Secretary, said Friday that to lower?pump price it will take a solution with Iran in order to get more oil flowing through the Strait of Hormuz. Wright made his 'comments' during an appearance at Sable Offshore, a new oil and gas facility in California near Santa Barbara.
The response to the auction of oil drilling rights at Alaska Wildlife Refuge is tepid
Officials from the U.S. Department?of the?Interior said that only $3.7million was bid for five parcels of land in Friday's auction by Trump's administration. The auction included 58 tracts on 689,000 acres (278.828 hectares), in a wildlife refuge known for its pristine habitat, which is home to species such as polar bears…
Baker Hughes reports that US energy companies have added rigs to their fleets for the seventh consecutive week.
Baker Hughes, a leading energy services firm, said in its closely watched report published on Friday that U.S. firms added rigs this week for the seventh week 'in a row' for the first since May 202. The number of oil and gas rigs, a good indicator of future production, increased by one in the week ending June 5. It is now at its highest level since May 2025.
Trump Administration to auction off oil drilling rights in Alaska Wildlife Refuge
The Trump Administration will sell oil and gas leases in Alaska's Arctic National Wildlife Refuge on Friday. This is a "remote, pristine habitat" for polar bears, caribou, and migratory bird species. The auction is a test of the industry's appetite for drilling in Alaska. It is a high-risk…
Minister says that the new US tariff exemptions will stimulate growth in Indonesia.
Indonesia's chief economist said on Friday that a 10% additional 'duty' imposed by the United States could stimulate economic growth, along with exemptions expected 'for certain 'key products. Washington announced this week that the U.S. trade representative has proposed tariffs up to 12.5% for imports from 60 different countries…
Norway oil companies and unions reach wage agreement, averting a strike
Negotiators from both sides said that the Norwegian oil companies had agreed to a wage deal with three unions. This agreement prevented any strike action which could have disrupted production. The industry estimates that the strike would have reduced production by an initial 45.500 barrels equivalent per day.
Putin's envoy: Russia-US talks about energy and economy will continue
Dmitriev claims to have spoken with US counterparts June 3. * US says it understands that extending sanctions waivers for Russian oil is good for the markets (Adds Dmitriev quotations, details). ST. PETERSBURG (Russia), June 4, 2014 - The?Russian-U.S. economic and energy talks continue despite the pause in?Ukraine's peace negotiations.
