Sources say that OPEC+ is likely to raise its oil production targets again in September.
MOSCOW/LONDON - OPEC+ countries will likely agree to a new increase in 'output aims' for September at their meeting on August 2. This is despite the fact that the Iran War has…
Teck Resources beats profit estimates on strong copper production, prices
Teck Resources, a copper producer and producer of higher-quality products, beat Wall Street's expectations for the second quarter profit on Thursday. In afternoon trading, shares of the company rose by 4%.
In July, Russia's oil revenues increased by 60% year-on-year
Calculations showed that the rise in oil prices globally has led to a '60% increase in the state revenue of Russia in July compared to the same period a year earlier. The overall…
Freeport-McMoRan exceeds its quarterly profit expectations on the back of higher copper prices
Freeport-McMoRan surpassed Wall Street expectations?for the second-quarter profit?on Thursday as higher copper prices 'offset lower production?at Grasberg Mine in?Indonesia.
Matador buys Paloma permian for $1.2 billion to boost Delaware Basin presence
Matador Resources announced?on Thursday that it will buy the privately-held?Paloma Permian?from EnCap Investments?for about $1.28billion,?adding a high-quality drilling asset in?the oil rich?Delaware Basin. U.S.
Teck Resources exceeds profit forecasts on higher copper production and prices
Teck Resources, aided by higher copper prices and increased production, beat Wall Street expectations for the second-quarter profit on Thursday. In?premarket trade, shares of the 'company' rose by nearly 6%.
Santos reports higher revenue in the second quarter on sales and commodity prices that are on the rise
Santos, the oil and?gas company, reported a rise of?second quarter sales revenue 'on Thursday. This was due to a?increase in sales volumes for its liquefied gas project in Papua…
St. Bernard Parish in Louisiana is hit by Tropical Storm Bertha
The U.S. National Hurricane Center reported on Wednesday that Tropical storm Bertha had made landfall in St. Bernard Parish in Louisiana. Miami-based forecaster said that the…
Egypt approves oil, gas and Perenco North Sinai Project deals
Egypt's Parliament approved four oil and gas exploration agreements and development agreements on Wednesday. This included a project in North Sinai involving the?FrancoBritish producer?Perenco.
Union urges investors and BP to put pressure on BP to end US Midwest refinery locksout
The union representing 800 workers at BP Whiting, Indiana refinery urged investors to put pressure on the British 'oil major, BP, to end a four-month lockout. They argued that…
Congo continues to push for local ownership rules for miners, despite industry concerns
The Democratic Republic of Congo will begin enforcing the long-delayed requirement that mining companies offer local ownership stakes on July 31. This is despite concerns raised…
Equinor profits soar on high oil and gas prices during wartime
As expected, Equinor reported on Wednesday a steep rise in profits for the second quarter, boosted by the surge in gas and oil prices, as the Middle East war disrupted the global energy supply.
EQT misses quarterly profit estimates on weak gas prices, raises production forecast
The 'energy company EQT, based in the United States, missed Wall Street expectations for a?second quarter profit on Tuesday due to lower natural gas prices. The Middle East…
Kazakhstan's dispute with oil majors
Two sources told AFP that Kazakhstan had warned the head an oil consortium, which includes Exxon and Shell, about possible criminal charges if they did not pay a $5 billion fine for environmental damage.
After years of stagnation, New Zealand's interest in gas exploration is picking up.
Seven oil and gas companies are racing to secure offshore rights to explore in New Zealand before a national vote that could lead to the ban of new permits. The country's main…
Chevron closes US Gulf platform to prepare for tropical storm
Chevron has shut down production at its Petronius facility in the Gulf of Mexico and is moving all personnel onshore to prepare for Tropical Depression Two. The company announced this in a Monday statement. The U.S.
WildFire Energy to be acquired by Magnolia Oil & Gas in a $4.06 billion deal
Magnolia Oil & Gas announced on Monday that it had 'agreed' to purchase WildFire Energy, including all debts, for approximately $4.06 billion. This was done in order to expand its stance?in the Giddings Field…
Ecopetrol, Colombia's petroleum company, says a cyberattack has stolen data relating to 3,300 accounts
The?energy company?Ecopetrol, controlled by the state of Colombia, said that a cyberattack had resulted in a theft of data from about 3,300 accounts. It added that it couldn't…
Baker Hughes reports that US energy companies have increased the number of rigs to their highest level since April 2025.
Energy services firm Baker Hughes reported on Friday that U.S. firms added rigs this week for a fifth consecutive week for the first since early June. The 'total count' now…
BP to sell stakes in the portfolio and close its venture arm
Verdane has agreed to buy minority stakes in over 10 companies from BP's portfolio. Meg O'Neill - the CEO of BP who took over the top position in April - said in a statement…
