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.
Oil majors are still stuck on the sidelines as Iran's war increases oil prices.
Oil prices rose to their highest level since 2022 on Monday, but the shares of major producers such as Shell and Exxon Mobil are still only seeing modest gains'since the U.S. - Israel war on Iran 'broke out last month.
BP wants at least $3.7 Billion from Venture Global arbitration, a filing states
Venture Global's yearly report shows that BP wants at least $3.7billion from its arbitration victory against?Venture Global, in a case involving liquefied?gas (LNG). According to the report released this week…
EUROPE GAS-European gas prices soar as Iran had conflict halts Qatar LNG output
The benchmark Dutch and British wholesale gas prices rose by nearly?50% after Qatar Energy, a major LNG exporter, announced that it had stopped production because of attacks in the Middle East.
Sources say that oil and gas traders and majors suspend their shipments via Hormuz due to US attacks on Iran.
Four trading sources reported on Saturday that some oil majors, as well as top trading houses, have suspended shipments of crude oil, fuel, and liquefied gas (LNG) via the Strait of Hormuza…
Saipem is poised to return to Venezuela following the easing of U.S. sanctions
Alessandro Puliti, the chief executive of Italian oil contractor Saipem, said that it is prepared to resume operations in Venezuela after the lifting of U.S. sanction - as they expect demand from "oil majors" later this year.
US permits oil majors to resume Venezuelan operations and broadly approves new energy investment
The U.S. eased its sanctions against Venezuela's energy industry on?Friday. It issued two general licenses allowing global energy companies? to resume oil and?gas operations in the OPEC?member?and…
BP suspends share buybacks to reduce debt, sending shares down 7%
On Tuesday, BP suspended its share buybacks. It also took charges of about $4 billion on its renewables assets and biogas assets. This sent its shares down by 7% during afternoon trading. The…
Shell is in need of a big deal or discovery as its oil and gas reserves are dwindling
Shell and analysts agree that the company needs to find a way to increase production to compensate for an expected shortage of between 350,000 and 800,000 barrels equivalent to oil per day in 2035…
TotalEnergies will provide solar energy to Google's Texas Data Centres
TotalEnergies, a French oil major, signed two long-term deals on Monday to supply solar energy to Google's Texas data centres. The company is looking to meet the rising demand for electricity driven by artificial intelligence.
Shell misses profit expectations, but keeps buyback pace
Shell's fourth-quarter profits missed expectations on Thursday, with an 11% decline to the lowest levels since early 2021 due to lower oil prices. However, it kept its massive share buyback program.
Oil majors buy up West African oil blocks to prepare for the next Brazil
Chevron, TotalEnergies and other oil majors are snatching up offshore blocks off the coast of West and Southern Africa. Geology, regulatory reforms and the need to replenish the reserves have prompted the search for the next Brazil.
Sources say that Chevron wants better terms with Iraq before acquiring the Lukoil Oilfield.
Sources say that Chevron is seeking better terms for the West Qurna 2 Oilfield. Iraq nationalized oilfield operatorship after U.S. Three sources with knowledge of the matter said that Chevron, the U.S.
Russian Urals Oil Trades at Close to Widest Discounts Since 2022
Russian February Urals crude oil cargoes traded at close to the widest discounts against dated Brent in Indian ports since 2022 amid intensified pressure from Western sanctions, two sources…
Sources say China will offer LNG futures by next month.
People with knowledge of the matter said that China will offer domestically listed, yuan denominated liquefied gas (LNG), futures contracts by the end of next month. This would reduce importers'…
Musk's Davos debut: US tariffs are a problem for solar power
Elon Musk made his Davos debut at the last minute on Thursday. He criticized U.S. Solar Tariffs, set aggressive Tesla targets, such as humanoid robot sales next year, and hinted that European…
Trump calls on US oil companies to fix Venezuela's rotting energy industry
Donald Trump, the U.S. president, began a meeting at the White House on Friday to discuss Venezuela. He said he wanted executives from some of the largest oil companies in the world to invest…
Trump meets with oil companies in Venezuela
Donald Trump, the U.S. president, began a meeting at the White House with executives of some of the largest oil companies in the world on Friday. He said that increasing crude production from Venezuela will benefit the United States.
Oil Prices Rise 2% Amidst Venezuela Conflict, Supply Concerns
Oil prices rose about 2% on Thursday after two days of declines as investors assessed developments in Venezuela and on worries about supplies from Russia, Iraq and Iran.Brent futures rose $1.21…
Sources say that Chevron Vitol Trafigura are all competing to control Venezuelan oil imports.
Sources familiar with the situation say that Chevron, Vitol, Trafigura and other companies are competing to get deals from the U.S. Government to export crude oil from Venezuela. Venezuelan…