Shale Oil & Gas

Russia will supply Iran with 1.8 billion cubic meters of gas in 2025 at a price to be agreed

The two countries announced on Friday that Russia could supply Iran with 1.8 billion cubic meters (bcm), of natural gas, this year. A price has not yet been agreed. On a trip to Moscow, Iranian Oil Minister Mohsen Pknejad said that the deal was not finalized but both countries were working hard to close it as quickly as possible.
Enagas' chief executive says that Spain's national hydro network plan is ahead of schedule

The chief of Spanish gas grid operator Enagas announced on Friday that plans to build a 2,600 km (1.615 mile) network of hydrogen in Spain were progressing ahead of schedule. Infrastructure is also on track for a start-up in 2030. The H2Med Corridor is a planned trans-European corridor that will connect the Iberian Peninsula with Northwest Europe.
Buildings damaged in Ecuador by earthquake of magnitude 6.3

The European Mediterranean Seismological Centre reported that a magnitude 6.3 earthquake hit near the coast in Ecuador on Friday. It damaged buildings in Esmeraldas, and some oil infrastructure was temporarily shut down. EMSC reported that the quake occurred at a depth between 23 km and 14.29 miles.
National Bank of Ukraine: Ukraine will need $2.9 billion in 2025 to purchase gas

Ukraine's National Bank stated on Friday that the country will need $2.9 billion in gas imports by 2025, after Russian missiles and drones damaged Ukrainian gas production plants. In the late winter and spring of 2016, Russia repeatedly attacked Ukrainian gas assets located in the east. This caused a drop of at least 40% in gas production.
Baker Hughes reports that US drillers added oil and gas rigs in the US for a second consecutive week.

Baker Hughes, a leading energy services company, said that U.S. firms added oil and gas rigs this week for the second consecutive week for the first since February. The number of oil and gas drilling rigs, a good indicator of future production, increased by two in the week ending April 25.

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Exploration

Finance Minister: Indonesia's growth in 2025 will be around 5%, despite trade tensions

Indonesia's growth will probably remain around 5% this year despite the trade tensions. The finance minister stated that a government delegation was still negotiating with Washington in order to avoid high tariffs. Minister's forecast is about the same as last year's growth rate of 5.03%. The government has set a target of 5.2% growth for this year, and President Prabowo Sulbianto has promised to raise the rate to 8% in 2029.

Drilling

Baker Hughes' first-quarter profits beat expectations on the back of strong demand for natural Gas Technology

Baker Hughes, a U.S. oilfield technologies firm, beat Wall Street expectations for the first-quarter profits on Tuesday thanks to a robust demand for natural Gas technology. The positive results are coming as oilfield service firms prepare for the impact of the tariffs introduced by the President Trump. These are expected to increase costs and disrupt sourcing of materials that are used in equipment such as drill pipes and artificial lifting systems.

Production

Devon Energy to boost free cash flow by $1 billion by 2026

Devon Energy announced on Tuesday that it intends to increase its annual free cashflow by $1 billion by 2026. This sent its shares up by 3.5% in the premarket. This is what the U.S. oil-and-gas producer hopes to achieve by reducing costs for drilling and completion and improving operating margins. Devon is expecting to save $300,000,000 through capital efficiency. Another $250,000,000 will be saved by reducing production and operational costs.

Russia will supply Iran with 1.8 billion cubic meters of gas in 2025 at a price to be agreed

Enagas' chief executive says that Spain's national hydro network plan is ahead of schedule

Buildings damaged in Ecuador by earthquake of magnitude 6.3

National Bank of Ukraine: Ukraine will need $2.9 billion in 2025 to purchase gas

Baker Hughes reports that US drillers added oil and gas rigs in the US for a second consecutive week.

Elliott, an activist investor, calls for a change in BP's strategy chief and organizational structure

Prices of gas in Europe remain stable as the market searches for new inputs

Norway's Yara trounces profit estimates despite rising gas costs, tariff concerns

Latest news

Indonesia wants fair and square trade in US tariff discussions

Unite, a UK union, says TotalEnergies workers are voting on strike action

Japan's greenhouse gases emissions drop 4% to a record low in FY23/24

Local media report that Argentina's YPF has ruled out building a land-based LNG facility

US wants to increase offshore oil drilling through easing of pressure rules

EU to Present a Roadmap in May for the Phase-out of all Russian Fossil Fuel Imports

African energy exploration company Rhino Resources discovers light oil offshore Namibia

Freeport-McMoRan reports lower profit for the quarter due to higher tariffs and increased costs

Xcel Energy's first-quarter profit misses estimates due to higher costs

CMS Energy reports higher profits on the strong demand for power from data centers

Ukraine's Naftogaz signs a contract with Orlen for 100 mcm gas

Prices for gas in Europe are stable despite a healthy supply

Exploration

Finance Minister: Indonesia's growth in 2025 will be around 5%, despite trade tensions

Woodside Energy's revenue for the first quarter of 2013 jumps by 13% thanks to Senegal project.

REFILE-ConocoPhillips plans layoffs as part of broad restructuring

EQT will buy Olympus Energy’s midstream and upstream assets from Olympus Energy for $1.8 billion

Drilling

Baker Hughes' first-quarter profits beat expectations on the back of strong demand for natural Gas Technology

Oil industry sources claim that Central Africa's new FX Initiative falls short of its target.

Shell completes survey of Venezuelan gas field as winding down of license approaches

Turkey looks to regional energy expansion as Black Sea Gas output increases

Production

Devon Energy to boost free cash flow by $1 billion by 2026

Hammerfest LNG Plant in Norway will be closed for maintenance from July until August

Chevron announces the first oil production at Ballymore Project in US Gulf

Indonesia awarded five oil and gas blocks as it seeks energy security

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