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Baker Hughes reports that US drillers have added oil and gas rigs to their fleet for the first time in 4 weeks.
Baker Hughes, a leading energy services company, said that the U.S. added oil and gas rigs this week for the first time since four weeks. The number of oil and gas rigs, a good indicator of future production, increased by two in the week ending April 17 to 585. Baker Hughes published the rig counts report one day earlier on Thursday…
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After hearing, US judge decides on bid starting price in Citgo parent sale
In the coming days, a U.S. Court is expected to confirm and reject a $3.7billion offer made by an affiliate of Contrarian Funds. The offer was intended to set a floor price for a second round of bidding for shares in Citgo Petroleum's parent company. Citgo, America's seventh-largest refiner…
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French and Benelux stocks: Factors to watch
Here are some company news and stories that could impact the markets in France and Benelux or even individual stocks. The Engineering group, GTT, reported revenues for the first quarter of 190.5 millions euros ($216.18million) on Thursday. It also confirmed its full-year goals. CARMILA On Thursday…
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Chevron, other companies withdraw from Egypt's Red Sea concessions and redirect resources
The Egyptian petroleum ministry reported that a number of multinational oil companies, including Chevron, have left their Red Sea oil concession blocks without finding any oil or gas and have instead channeled their resources to other parts of the country. In 2019, Egypt, as part of its effort to become a hub for energy…
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India revamps its gas policy to increase affordability and supply
India announced on Friday that it had made improvements to its domestic gas allocation policy in order to ensure the availability and affordability for natural gas. The government announced that domestic gas allocations will begin in the first quarter fiscal 2026 for the compressed…
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Raoni, the indigenous leader of Brazil, says he opposes drilling for oil in Amazonia
Raoni Metuktire of the Kayapo tribe, an indigenous leader, said that Brazil should not explore for oil reserves in the Amazon…
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Trump Administration kicks off plan to expand offshore drilling
The U.S. The U.S. Donald Trump ordered the government to find ways to increase U.S. oil production. He argued that previous…
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US oilfield service firms prepare for earnings to be affected by tariffs
The results next week should provide an insight into how the top three oilfield service companies in the world are dealing…
Latest news
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Sources say that commodity traders will submit bids by May for Italy's IP.
Two sources confirmed on Thursday that global commodity traders Glencore and Gunvor were considering the possibility of buying…
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Sources say that commodity traders are expected to bid for Italy's IP in May.
Two sources confirmed on Thursday that global commodity traders Glencore and Gunvor were considering the possibility of buying…
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Gas prices in Europe are rising on the back of lower renewable energy forecasts
The Dutch and British wholesale gas price increased on Thursday morning, as temperatures and renewables are expected to drop…
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Maurel & Prom, a French oil company, has seen its sales growth fall due to a drop in revenue from the main fields
Maurel & Prom, a French oil company, reported a sharply reduced first-quarter growth rate on Thursday. Revenues declined…
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Asian countries are looking to purchase more US energy in order to balance trade imbalance
As they try to reduce their trade surpluses with Washington, Asian governments are buying more U.S. gas and oil in order…
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Santos Australia reports 7% decline in first-quarter revenue
Santos, an Australian oil and natural gas company, reported a 7% drop in its first-quarter revenue on Thursday. The fall…
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US proposed looser interpretation of the law protecting threatened species
The Trump administration proposed on Wednesday a major shift in how threatened species are taken into account when agency actions are made.
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Media report that the Russian court has increased the penalty for Naftogaz Ukraine to $1.3 billion.
Russian news agencies reported that a Russian court increased the financial penalty imposed on Ukraine's Naftogaz state energy…
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Thailand will import more US LNG in the next five years.
Thailand will import more LNG from the United States in the next five-year period, said Finance Minister Pichai Chunhavajira on Wednesday.
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BP shareholders punish Helge Lind with low support
BP's Murray Auchincloss, CEO and Helge Lund, Chair were reelected on Thursday. However, the dramatically reduced level of…
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Qatari Emir meets Putin in Moscow
The Russian state-run news agency TASS reports that Qatar's Emir, Sheikh Tamim bin Hamad Al-Thani, arrived in Moscow Thursday…
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BP's leadership is facing shareholder votes amid Elliott campaign and climate ire
BP's Board is up for reelection on Thursday at its annual meeting. The group will be facing activist shareholder Elliott Management…
Exploration
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Sources say that US fuel exports by land to Mexico have been halted due to increased scrutiny.
Three sources with knowledge of the matter confirmed on Tuesday that the Mexican government had halted the importation of U.S.
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Shell and Bulgaria sign a contract for Black Sea oil and gas exploration
Shell signed with the Bulgarian government a contract on Tuesday that gives the oil giant the rights to explore a Black Sea…
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Tullow Oil, UK, to sell Kenyan assets for at least $120 Million
Tullow Oil, a West Africa-focused oil & gas explorer, said Tuesday that it will sell its assets in Kenya for at least $120…
Drilling
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BP warns about lower production in the first quarter and weak gas sales
Energy group BP said that it expects the first-quarter production of oil and gas to be lower than in the previous quarter.
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Oil advocate withdraws nomination for US Land Bureau
Senator Mike Lee announced at a Senate Hearing on Thursday that oil industry lobbyist Kathleen Sgamma had withdrawn her nomination for the U.S.
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US no longer requires green analyses for oil and gas leases in Western States
The Trump Administration announced on Thursday that they will no longer be requiring environmental impact statements (EIS)…
Production
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Brazil prepares a new oil auction amid trade war threats to budget, sources claim
Four people with knowledge of the situation said that Brazil is planning to auction off stakes in offshore oil fields this…
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Eni anticipates that investors will value Plenitude at over $11 billion
Eni's executive said that investors who are interested in buying a minority stake of its retail and renewables arm, Plenitude…
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Chevron will pay $740 Million to restore Louisiana's coastline, reports AP
The Associated Press reported that Chevron had been ordered to pay $740m to repair damages caused by the oil and gas giant…
