The US rushes to lock in the soaring price of oil as US producers rush for new records
The surprise attack by Israel on Iran last weekend sent oil prices surging, which caused U.S. producers to scramble to lock in this price increase. This led them into record volumes of hedging that will shield them from future swings.
Conflict affects Iranian and Israeli energy sites
The military strikes between Iran & Israel have raised concerns about possible damage to oil and gas infrastructure and fields in the region. Here are some details on these sites, and how they have affected them so far.
Analyst: Ukraine's gas reserves are more than 7 billion cubic meters, according to analysts
ExPro, an analyst, said that gas reserves in Ukrainian storage sites exceeded 7 billion cubic meters (bcm), but remain at their lowest level for the past 11 years. After Russian missiles damaged the production facilities to the east of Ukraine…
Russell: No rush to import US energy while Asia's imports slide under Trump
Asian countries have not rushed to buy U.S. commodities, despite President Donald Trump's call for a reduction in trade surpluses. The real deal in any future talks between China and the Trump administration…
Russell: No rush to import US energy while Asia's imports slide under Trump
Asian countries have not rushed to buy U.S. commodities of energy, despite President Donald Trump's call for a reduction in trade surpluses. The real deal in any future talks between China and the Trump administration…
Azerbaijan’s SOCAR signs agreements for oil exploration with Exxon and BP
Azeri SOCAR, the state-owned energy company of Azerbaijan, signed agreements with Exxon Mobil & BP for oil and natural gas exploration in Azerbaijan at a conference on energy in Baku. According to the U.S.
The US claims that there are significant oil and gas reserves in Wyoming.
The U.S. Interior Department announced on Wednesday that a new federal assessment identified significant oil and gas reserves in Wyoming, Utah, and Colorado which are technically recoverable but have not yet been discovered.
Petronas wants Kutai Basin properties as part of the planned Eni tie up
A senior executive at Malaysian state energy firm Petronas said Tuesday that it wants to include oil projects in Indonesia's Kutai Basin as part of its joint venture with Eni. Petronas, the Italian oil giant…
Analyst ExPro states that Ukraine's gas reserves have dropped to their lowest level for 11 years.
ExPro, an analytical company, said that the gas volumes in Ukrainian storage sites are at their lowest level for at least 11 year. They stood at 6 billion cubic meters (bcm), as of Wednesday. After Russian…
Agency says there are undiscovered oil and natural gas reserves in the US Gulf Coast.
The U.S. Geological Survey released a report on Wednesday that outlined the potential for undiscovered oil in two formations beneath much of the U.S. Gulf Coast, from Texas to Florida. The Hosston formation…
US to revise offshore oil and natural gas bonding rules era Biden
The Trump administration is revising a Biden era rule which required the oil and natural gas industry to provide new financial guarantees of nearly $7 billion to cover the costs of decommissioning older infrastructure.
Greece approves the tender for hydrocarbons in four offshore blocks
The energy ministry announced on Thursday that Greece had approved an international bid for hydrocarbon exploration of four blocks in Mediterranean Sea following expressions of interest from Chevron Energy and Helleniq Energy.
Austrian OMV expects the gas production at Neptun Deep to begin in 2027
Austrian oil-and-gas group OMV announced on Wednesday that gas production is expected to begin in the Black Sea in 2027 as part of their Neptun Deep Project. The company stated that drilling for the first ten wells began in March.
Local media report that Argentina's YPF has ruled out building a land-based LNG facility
YPF, Argentina's state-run energy company, has ruled out the construction of an onshore liquefaction facility for natural gas. Instead, it will rely on floating vessels to carry out this process. Horacio Marina…
Spot prices rise on forecasts of reduced wind supply
The price of European immediate power rose on Wednesday, as the wind power generation in the region is expected to drop sharply. This will lead to a tightening of supply. LSEG analyst Guomarie Wyller forecasts…
Shell plans to deliver gas from Venezuela to Trinidad by 2026, according to sources
Shell Plc aims to start producing natural gas in Venezuela's Dragon field and export it to Trinidad and Tobago, an hour earlier than the initial 2027 start date. The project demonstrates the industry's hope…
Petronas still in talks with Sarawak about gas aggregator role
Malaysia's state-owned energy company Petronas announced on Saturday that it will continue discussions with multiple stakeholders after a report claiming that negotiations with Petros over the role of gas aggregator had reached a standstill.
Colombia regulator: Licenses for Petrobras and Ecopetrol offshore projects will be ready by mid-2026
Orlando Velandia of Colombia's hydrocarbons regulatory agency said that by mid-2026 the Brazilian state-run Petrobras, and its Colombian equivalent Ecopetrol, could have all the licenses they need to move forward with a joint offshore project in Colombia.
BP CEO: It's time to increase U.S. production of gas
HOUSTON, 11 March - BP will increase U.S. Natural Gas production in its onshore shale operation following the recent rise of domestic gas prices. CEO Murray Auchincloss announced this on Tuesday. Auchincloss…
Exports of Israeli natural gas to Egypt and Jordan will increase by 13.4% in 2024
Israel's Energy Ministry said that despite Israel's conflict with the Palestinian militant group Hamas, natural gas exports from Israel to Egypt and Jordan increased by 13.4% between 2024 and 2025. Eli Cohen…
