Bloomberg News: Trump will invoke emergency law to protect California oil producer Sable
Bloomberg News reported that U.S. President Donald Trump intends to invoke the 'emergency laws' for Sable Offshore in order to restart production from a cluster of offshore platforms located in California. A person familiar with this matter was quoted as saying so. In?afternoon trade, shares of Sable rose by 16.3% to $16.75. The report said that Trump was preparing to call in authorities under the?Defense Production Act? to preempt state law and to ease?permitting? for Sable.
Enverus reports that global dealmaking for oil and gas upstream in 2025 was muted.
Enverus, a firm that provides analytics, said Wednesday that the upstream oil and natural gas market in the world will remain?subdued' for the second consecutive year, with only $18 billion in deals. The firm stated in a recent report that fewer 'high-quality resources' and lower oil prices have limited the value of mergers and acquisitions well below the historical norm of $60 billion. Andrew Dittmar is the principal analyst of Enverus.
BP and Chevron top the list of bidders at a small US Gulf of Mexico gas and oil auction
According to a U.S. government livestreamed auction, BP's single bid accounted for almost half of the total. The U.S. Bureau of Ocean Energy Management conducted the sale. It was a far less successful one than the previous auction three months earlier. Donald Trump's administration prioritizes regular lease sales and plans to have 30 in the area by 2040. The auction was won by a $21 million bid from BP on a block located in Green Canyon.
Gulf of Mexico Oil and Gas Auction yields Far Fewer Bids Than First Trump Sale
According to a document posted on the government's website, the second auction of oil and natural gas leases in the Gulf of Mexico by the Trump administration in three months drew far less interest from the industry than the one held in December. Oil prices are at four-year highs due to the U.S.'s war against Iran, which has disrupted crude oil flows around the world. According to the document of pre-sale statistics…
Nscale, backed by Nvidia, valued at $14.6 Billion in a new funding round
The 'artificial intelligence' group Nscale, which is backed by Nvidia and has raised $2 billion through its latest funding round, was valued at $14.6 billion on Monday. The Series C round of funding was led by Norway’s Aker and 8090 Industries and included Nvidia Citadel Dell Jane?Street among others. The company announced that former Meta executives Nick Clegg, Sheryl Sandberg and Susan Decker would join the board.
Brazil's Petrobras reports a near $3 billion net income and plans a $1.5 billion dividend
In separate filings, the Brazilian state-run oil company?Petrobras announced a fourth-quarter net profit of?15.6?billion dollars ($2.96 billion). It plans to distribute interest on equity in the amount of 8.1 billion dollars. The quarter-end net profit reversed the 17 billion real net loss of a year ago due to non-recurring expenses. Exports records boosted the results for October-December.
As the US-Iran war spreads, more tankers are attacked.
As the U.S. - Iran war escalated on Thursday, Iranian drones invaded Azerbaijan and threatened to spread the crisis?to other oil producers in this region. Initial assessments indicate that a?Bahamas flagged crude oil tanker anchored near Iraq’s Khor al Zubair Port was attacked by an Iranian remote-controlled boat loaded with explosives. After a large explosion, a second tanker anchored off Kuwait began to take on water and was spilling oil. Since the conflict between the U.S.
Canadian Natural Resources exceeds profit expectations on higher production
Canadian Natural Resources, an oil and gas producer, posted a profit that was higher than expected for the fourth quarter. The company's increased output offset lower crude prices. Canadian Natural Resources and other oil sands producers in Canada have survived a 'global downturn', despite the uncertainty caused by U.S. Tariffs, as well as a rise in OPEC+ production, due to their years of investment. Their costs are among the lowest found anywhere in North America.
Oil companies reject Trump Administration's Alaska Offshore Auction
The Trump administration sold more than 400,000 acres (406,876 hectares) of land in Alaska's Cook Inlet on Wednesday, but no oil and gas drillers showed up. They refused to make a bid.The One Big Beautiful Bill Act of U.S. president Donald Trump, which was signed into law in 2017, mandates six Alaska offshore gas and oil auctions through 2032.Trump has sought ways to increase domestic oil and gas production…
US auctions oil and gas drilling in Alaska's Cook Inlet
The Trump Administration will on Wednesday 'offer over 1 million acres (404,686 ha) of Alaska's Cook Inlet?to?oil & gas explorers. This is a key test to see if the industry wants to invest in this region. This is the first auction of six Alaskan offshore oil and natural gas auctions that will be held by?U.S. through 2032. The One Big Beautiful Bill Act was signed by President Donald Trump last year. The U.S.
Equinor discovers oil in the North Sea and looks to rapid development
Equinor, a state-controlled Norwegian operator, and its partners have discovered oil near the Snorre field in the North Sea and plan to develop the reserves "rapidly and efficiently". Norway's Offshore Directorate, or NOD, has separately stated that preliminary estimates place the size of this discovery, called "Omega-South Alfa," between 25 and 89 million barrels of recoverable equivalent oil. This would be Equinor's medium-sized discovery.
APA exceeds its quarterly profit forecasts as lower costs offset the weak price, output
Oil and 'gas company APA beat the fourth-quarter profit estimate?on Friday. This was helped by lower operational costs that offset the impact of weaker commodity prices & a decrease in?production. The global?crude oil price has been impacted by the growing fears of a glut, and the prospect that Venezuela will add more barrels to supply. WTI crude oil prices fell by about 20% between 2025 and 2026, while they dropped 8% during the quarter of October-December.
Woodside posts smaller-than-expected annual profit; CEO update imminent
Australian oil and gas ?producer Woodside Energy posted a ?smaller-than-expected fall in annual profit on ?Tuesday, ?as robust production offset weaker realised prices, and said it expects to name a new CEO in the first quarter of 2026. The company stated at its results presentation that "the appointment of the CEO is an important activity ...(the Board) intends to make a announcement…