NY court refuses overturn arbitral ruling that favors Venture Global over Shell
A state judge in New York rejected Monday the request of British oil giant Shell to overturn an arbitration award which favored Venture Global. The dispute was about Venture Global's alleged improper sales of liquefied gas by American company. Justice Joel Cohen, of the Supreme Court of California…
Wall Street closes with a narrowly mixed result, but trading is volatile following air strikes on Iran
U.S. stock prices ended Monday close to flat after a volatile session that saw shares fall early following the weekend's?U.S. Israeli air strikes against?Iran.?But there were bounces all day long as investors bought dips. The coordinated U.S.-Israeli strikes against Iran last weekend resulted in the death of Tehran's Supreme leader…
Venture Global is ready to meet the LNG shortage as Qatar stops production
Mike Sabel, CEO of Venture Global, said that the company has the largest amount of LNG cargoes in the world that are not contracted and is prepared to stabilize global markets when Qatar stops production due to attacks by Iran.Qatari LNG production equals about 20% of global supply. It plays…
OPAP Greece posts record revenue in 2025, but profits dip on higher costs
OPAP, Greece's gaming operator, reported a -0.5% decline in 2025 net profit despite achieving a record gross gaming revenue (GGR) as a result of?higher operating expenses and?marketing expenses. * The largest gaming operator in the country said that GGR increased 4.9% over a year ago to 2…
Minister: Road damage has caused the reopening of the Congo-Zambia Copper corridor on Tuesday.
Zambia's Infrastructure Minister said on Monday that the main corridor for Democratic?Republic of Congo copper, cobalt?and?other mineral exports will?reopen? on Tuesday?after?road?damage halted?flows. Congo is Africa's biggest copper producer, and the second largest copper producer in the world by output.
Venture Global lowers its 2026 profit forecast due to the winter storm and LNG margin squeeze
Venture Global, a U.S.-based company that produces LNG, reported a core profit for 2026 below Wall Street's expectations due to the?impacts of Winter Storm Fern?and margin compression during?the first quarter. Last month, it was reported that the U.S. exports of natural gas liquefied in January…
Venture Global lowers its 2026 profit forecast due to the winter storm and LNG margin squeeze
Venture Global, a U.S. LNG company, forecast its 2026 core profit to be?below Wall Street's expectations on Monday. This was due to the?impacts of Winter Storm Fern as well as margin compression during the first quarter. Last month,?reported that?exports?of liquefied gas from the U.S. dropped…
Source: Nigeria divides OPL 245 oilfield OPL into four blocks as part of deal with Eni and Shell
Sources say that Nigeria has divided the 'OPL 245 oil block into four assets, which will be operated by Eni or Shell. This could determine the future of a field that is at the heart of one of oil industry history's largest?corruption cases. The agreement opens the door to the development of OPL 245…
Equinor discovers oil in the North Sea and looks to rapid development
Equinor, a state-controlled Norwegian operator, and its partners have discovered oil near the Snorre field in the North Sea and plan to develop the reserves "rapidly and efficiently". Norway's Offshore Directorate, or NOD, has separately stated that preliminary estimates place the size of this discovery…
China shares steady as energy and defence shares surge, offsetting airline losses; HK drops
China's benchmark equity indexes were not significantly changed Monday in the aftermath of a conflict with Iran. Increases in gold, energy and defence stocks offset declines in airline and tourism shares. The expectation that Beijing would step in and stabilize markets before a parliamentary session later this week boosted sentiment on the mainland.
Libya's Mabruk Oil Field to Increase Production to Up to 30,000 Bpd
Libya's Mabruk Oil Operations have resumed production at the?al-Mabruk field, with an initial pumping rate?expected to range between 25,000-30,000 barrels per day, according to the state-owned National Oil Corporation. In a press release, NOC stated that production resumed on the field "following successful commissioning of new early production units".
OPEC+ discusses oil production boost as US war against Iran disrupts shipments
Two OPEC+ source said that OPEC+ would consider a bigger-than-expected 'oil production increase' on Sunday. This is after the U.S. and Israel war against OPEC+ Member Iran, as well as Tehran's retaliation caused?shipment disruptions throughout?the Middle East. OPEC+ is known for boosting oil production to compensate for disruptions…
DNO and Dana Gas stop Kurdistan production after U.S. - Israel strikes on Iran
Oslo-listed DNO, and Dubai-listed DNA Gas, halted oil and gas production in their respective fields, located in Kurdistan, Iraq, out of caution, following the United States' and Israel's strikes against Iran. In the last year, both the Tawke gas?field and Khorm Mor oilfield production facilities were attacked.
OPEC+ could consider a larger increase in oil production, according to sources after the Iran strike
Two sources said that OPEC+ could consider a bigger than planned 'output increase' on Sunday. Leading producers Saudi Arabia and?UAE had already boosted exports to prepare for a possible oil disruption due to the U.S. - Israel attack on Iran. The eight members of the Organization of the Petroleum Exporting Countries (OPEC) and their allies…
Iran's main oil, gas and infrastructure production
On Saturday, Israel and the United States launched an offensive against Iran. The attack could cause oil and gas production to be disrupted and damage the energy infrastructure in the Middle East. Iran is the third-largest oil producer in the Organization of Petroleum Exporting Countries (OPEC). It pumps 4.5% or so of world oil.
Mercuria profits fall as the company expands into metals and LNG
Mercuria's?chief finance officer? told a reporter on Friday that the trading house had posted a 6% drop in profit for 2025, despite expanding its metals and physical LNG businesses, as well as its shipping business, from Latin America into Central Asia. Trading?houses' profits fell from the…
Baker Hughes reports that US oil and gas drillers have cut back on rigs in the US for the first time in six-weeks.
Baker Hughes, an energy services company, said that the U.S. cut back on the number of natural gas and oil rigs for the first time since six weeks. The number of oil and gas drilling rigs, a good indicator of future production, dropped by one in the week ending February 27. This is the lowest level since late January.
Mexico's Pemex narrows its losses in the last quarter of 2025
Pemex, the Mexican state energy company, has reported a sharp decline in losses for 'the fourth quarter. A filing with 'the Mexican stock exchange showed a loss of $8.62 million. The filing revealed that it had a net loss in the same quarter of last year of 350.46 billion Pesos. Pemex said…
Panoro Energy looks for new assets in Equatorial after purchasing Kosmos stake
Panoro Energy, a company based in Africa, will participate in Equatorial Guinea’s oil and gas auction in April to search for new assets. It has increased its stake in Block G offshore in the country. Panoro acquired this week an additional 40.3% of Block G from Kosmos Energy. This makes it the largest shareholder in Block G…
ADNOC offers partners more Murban crude ahead of the OPEC+ meeting, sources and reports say
Abu Dhabi will 'export' more of its Murban crude, according to Bloomberg News and two trade sources. This will add to the already abundant supply from Middle East producers. Bloomberg reported that the state-owned Abu Dhabi National Oil Co. offered to increase volumes for partners in the onshore concession of the country…
Vallourec is expecting a lower core profit in Q1 as steel tube volume weighs on the company
French steel tubes manufacturer Vallourec announced on Friday that it expected to make a lower profit in the first three months of 2026 compared to the previous quarter, due in part to the drop in volumes. The group's?operating profits before interest, tax, depreciation, and amortisation?
Kazakhstan: Tengiz supergiant oilfield nearing capacity
Kazakhstan?Energy minister Erlan Akkenzhenov announced on Friday that oil production had almost reached full capacity in the largest oilfield, Tengiz. This was after the oilfield suffered a power failure at the end January. The decline in production at Tengiz, a Chevron-led project, caused Kazkhastan to reduce its oil exports.
California woman sues Meta, YouTube testifies that social media has a negative impact on mental health
A young Californian woman who is suing Meta Platforms for Instagram and Google for YouTube gave testimony on Thursday at a landmark trial that her childhood addiction to social media left her depressed, anxious and insecure about her appearance. She was unable, however, to give up her phone without feeling further anxiety. Kaley G.M.
Coterra misses its quarterly profit forecasts, pointing to winter storm as a factor in Q1 output
Coterra Energy missed Wall Street's expectations for the fourth quarter profit on lower crude prices and warned that its first-quarter production would be affected by the U.S. winter storm. Venezuela is expected to increase its barrel production, putting pressure on global crude prices. The average oil price was $58.16 a barrel…
Eni CEO: Eni can receive Venezuelan oil as payment for gas
Eni CEO, Eni, said that Venezuela is now able to pay for the gas it receives from Eni with oil, thanks to recent U.S. sanctions being eased. This has 'unlocked' a situation where the Latin American nation had a large debt towards the Italian company. "That is a huge upside. We were stuck in a rut for nearly a year.
Eni CEO: Eni can receive Venezuelan oil as payment for gas
Eni CEO, Eni, said that Venezuela is now able to pay for the gas it receives from the Italian company with oil, thanks to recent easing of U.S. sanctions. This has helped to resolve a situation where the Latin American nation was left with a huge debt to Eni. "That was a huge upside. Before, we were stuck for nearly a year.
Shell inspects subsea gear at the curtailed Ormen Lange Gas Field
Shell has been troubleshooting a subsea system at its Ormen Lange offshore gas field in the Norwegian Sea, where output has been reduced since February 16. Shell Norway mobilised a ship with a remotely controlled vehicle (ROV) which arrived at the site to inspect underwater parts, according to a spokesperson of the field operator.
Shell is reportedly looking to sell some of its Shell Ventures portfolio.
Shell is examining the possibility of selling investments in some companies that are part of its Shell Ventures portfolio. One source said that the British oil giant will retain a large portion of its Ventures investment. The corporate venture fund has interests in early-stage companies and start-ups…
APA exceeds its quarterly profit forecasts as lower costs offset the weak price, output
Oil and 'gas company APA beat the fourth-quarter profit estimate?on Friday. This was helped by lower operational costs that offset the impact of weaker commodity prices & a decrease in?production. The global?crude oil price has been impacted by the growing fears of a glut, and the prospect that Venezuela will add more barrels to supply.
A woman who sued Meta and YouTube for social media addiction is set to testify in court
On Wednesday, a young California woman will testify about how her childhood use on Meta Platforms' Instagram or Google's YouTube has affected her mental health. This is a landmark case in her social media addiction. She was to 'take the witness stand after the testimony of a licensed therapist who treated Kaley G.M.
Sources say that OPEC+ will consider an increase in oil production of 137,000 bpd for April.
OPEC+ will likely consider?raising their oil output by 137,000 barrels a day for April. Three sources familiar with OPEC+'s thinking stated that the group is preparing for the peak summer demand as well as a price increase due to tensions between the U.S. After a three-month pause, the OPEC leader Saudi Arabia…
Sources: Saudi Arabia increases oil production and exports to prepare for a US attack against Iran
Saudi Arabia has increased its oil exports and production as part of an emergency plan, in case a U.S. attack on Iran disrupts Middle East supplies. Two sources familiar with this plan told Reuters on Wednesday. The Saudi Government Media?Office did not respond immediately to a comment request on the plan. Donald Trump, the U.S.
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. "Things are changing in Venezuela very quickly." We have worked…
Sources say that OPEC+ will consider an increase in oil production of 137,000 bpd for April.
OPEC+ is likely to consider raising its oil production by 137,000 barrels a day in April, according to three sources familiar with OPEC+'s thinking. The group is preparing for the peak summer demand, and tensions between the U.S. The resumption 'would allow OPEC leaders Saudi Arabia and other members…
The woman who sued Meta and YouTube for social media addiction took the witness stand in court
As her landmark trial continues in Los Angeles, a California woman will testify Wednesday in court about the impact of using Meta Platforms’ Instagram and Google’s?YouTube when she was a child on her mental health. In court, the plaintiff is known as 'Kaley G.M. In court, the plaintiff, known as?Kaley G.M.
Angola’s national oil company is looking to diversify its business into minerals that are critical.
Sonangol, the state-owned Angolan oil company, said Wednesday it wants to diversify its business into minerals that are critical for economic growth. Sonangol's executives told a press conference that the company made a net profit of over $750 million by 2025. This is compared to 736 billion kwanzas (about $807 million) in 2024.
Citic Resources opens new Singapore office to double trading volumes, says exec
CITIC Resources Holdings set up an energy trading 'office' in Singapore. It aims to double the volume of its oil and gas trade to 50 million barrels within three to five years. CRH Commodity's Managing Director Wang Minghan said that CRH Commodity is a wholly-owned subsidiary of Singapore and will begin oil?and?gas trading in Australia from 2024.
EOG Resources exceeds profit expectations on the back of strong production and higher gas prices
EOG Resources beat estimates for the fourth quarter profit on Tuesday as higher natgas and output prices offset a drop in crude oil prices. U.S. Natural Gas Futures increased over 11% sequentially during the fourth quarter. This was due to stronger demand, and an increase in pipeline volumes.
Executives say that the oil industry needs to increase production at $70 per barrel.
Executives said that the oil industry needs to see crude prices rise and maintain at $70 per barrel in order to increase production. Vicki Hollub is the CEO of U.S. Oil. She said that U.S. production could be maintained in the range $60-$65. Occidental oil company, at the Energy Aspects Conference in Washington.
Kazakh Kashagan oil field operators file arbitration for $4.6 billion fine
Shell, TotalEnergies, Eni and other shareholders of Kazakhstan's Kashagan Oilfield filed an arbitration case against a fine for environmental violations in 2023. The consortium announced this on Tuesday. This is the latest in the growing number of legal disputes in Kazakhstan's hydrocarbon industry.
Russell: Copper is the driving force behind BHP and Rio but getting more of it is the key.
Copper's role as a major profit driver is highlighted in the latest results of BHP Group and Rio Tinto. However, they also highlight how difficult it will likely be to gain more exposure for this industrial metal. BHP, the world's largest ?listed miner, reported last week a stronger-than-expected half-year underlying attributable profit of $6.2 billion…
EU countries approve a weakening of company sustainability laws
After months of pressure, the EU has finally approved a reduction in rules that require companies to consider environmental and human rights risks within their supply chains. This comes after businesses and governments such as Qatar and the U.S. have pushed for this. The changes approved…
TSX futures are edging lower as gold retreats, with bank earnings being the focus
The futures for Canada's main index of stocks?edged down on Tuesday as gold prices declined, and investors awaited the quarterly results from major banks. As of 5:18 a.m., March?futures for the S&P/TSX Composite Index had fallen 0.17%. ET. Toronto's benchmark stock index fell on Monday as uncertainty over tariffs weighed on the market.
Kazakh Kashagan oil field operators file arbitration for $4.6 billion fine
Shell, TotalEnergies, Eni and other shareholders in Kazakhstan's Kashagan oilfield, have begun arbitration proceedings to challenge a $4.6 billion environmental fine for 2023, according to a Shell spokesperson. This is the latest in an ever-growing web of legal disputes involving the hydrocarbon industry in Kazakhstan.
In mid-2026, Inpex will invite bids for the construction of Indonesia's Abadi Liquefied natural gas project.
Inpex, a Japanese oil and natural gas exploration company, said that it would begin the engineering tender for its Abadi project in Indonesia by the middle of this year. Jakarta has pledged to eliminate 'bureaucratic snags' in order to expedite development on the $21 billion project. Abadi…
Eni will make final investment decision on Indonesia gas projects in the next month, says regulator
Djoko Siswanto, the head of Indonesia's upstream gas and oil regulator SKK Migas, told reporters that the Italian company?Eni is expected to make a final investment decision next month regarding the development projects for Geng North as well as Gendalo - Gendang. He said that a new joint venture…
Woodside posts smaller-than-expected annual profit; CEO update imminent
Australian oil and gas ?producer Woodside Energy posted a ?smaller-than-expected fall in annual profit on ?Tuesday, ?as robust production offset weaker realised prices, and said it expects to name a new CEO in the first quarter of 2026. The company stated at its results presentation that…
Investors on edge as tensions over tariffs and inflation data keeps investors on edge
Investors remained 'cautious' ahead of important?domestic data and sought clarity about the latest tariff salvo. The S&P/ASX 200 index closed little changed at 9.022.30 points. The benchmark index had closed 0.6% lower Monday. Local markets remained in a wait-and see mode after U.S. president…
Russell: Copper is the driving force behind BHP and Rio but if you want more, it's up to you.
Copper's role as a major profit driver is highlighted in the latest results of BHP Group and Rio Tinto. However, they also highlight how difficult it will likely be to gain more exposure for this industrial metal. BHP, the world's largest ?listed miner, reported last week a stronger-than-expected half-year underlying attributable profit of $6.2 billion…
US Chemical Safety Board blames Pemex for fatal 2024 accident
According to the 'U.S. Department of Homeland Security,' the lack of a standard identifier for idle equipment at Pemex Deer Park refinery in Texas led to a poison gas release that killed two workers. Chemical Safety and Hazard Investigation Board released a report on Monday. The report stated…
Diamondback misses its profit forecast as lower oil prices weigh
Diamondback Energy missed Wall 'Street's expectations for the fourth quarter profit on Monday as it struggled to cope with lower oil prices. Its shares fell more than 3% during extended trading. The global crude oil price has been impacted by the growing fears of an oversupply and the prospect of more Venezuelan barrels coming back onto the market.
US producer Continental claims that the shale resource in Argentina could be "another Permian".
Continental Resources CEO Doug Lawler stated on Tuesday that Argentina's shale resource might be similar to the size of the Permian Basin in the United States. Lawler, a U.S. oil company, said that the oil production potential in Argentina could be as high as 1.5 to 2 million barrels a day within the next few years.
Watch these stocks as Trump's tariffs create more uncertainty
After a Supreme Court decision last week that ruled against his larger levies, tariff uncertainty has returned. Wall Street analysts expect emerging market exchange-traded fund and retailers to benefit in the end. Here are some stocks, ETFs, and sectors that could be affected by the latest twists in the?U.S.
Congo replaces Gecamines as leader amid mineral talks with US
The government announced on Monday that the president of the Democratic Republic of Congo has replaced Gecamines' chief executive and?board?chair. This is a major shakeup at a time of negotiations with Washington regarding a mineral deal. According to a statement read out on state television…
Canada's Parex Resources has offered $500 million for Frontera Energy Colombia's assets
Parex Resources announced on Monday that it has submitted a $500 million cash-only proposal to purchase the Colombian Upstream Operations of Frontera Energy. The offer includes the assumption of debt as well as a contingent payment amounting to $25 million. Parex stated that the bid represents…
Chevron and Iraq agree on exclusive talks about West Qurna 2.
Chevron is in exclusive talks with Iraq about the West Qurna 2 giant oilfield. This brings them closer to purchasing the field from the sanctioned Russian oil company Lukoil. Chevron has said that the talks will include an exchange of confidential information. This could allow the U.S. major…
Romgaz CEO: If acquisition proceeds, Romgaz will need more funding to complete gas project.
If the acquisition of a ailing fertilizer producer by Romgaz this year goes through, it may have to use additional funding to pay for its portion of offshore project Neptun Deep. Romgaz and OMV Petrom have teamed up to develop Neptun Deep, one of Europe's largest natural gas reserves. Both…
Indonesian Pertamina will continue to bid for US energy imports
Pertamina, the Indonesian state oil and gas company, said on Friday that imports of energy products from the U.S. will still be done 'through a competitive bidding process' following the conclusion of the trade agreement between the two nations. On Thursday, Indonesia and the U.S. signed a deal that reduced U.S. tariffs from 32% to 19%.
Turkmenistan’s former president says diversifying the gas exports to Turkmenistan is a 'primary objective'
According to the transcript of a Sunday interview, former Turkmen president Gurbanguly Berdymukhamedov stated that his country's 'primary goal' was to diversify its exports of its massive gas reserves. The fourth largest in the world. Turkmenistan, a?mostly desert? country of 7 million people…
Trump's tariff reversal may reduce costs for US energy companies, but it will likely not affect broader flows.
Although the U.S. Supreme Court’s decision to overturn trade tariffs that President Donald Trump imposed last year could ease costs for certain?oil drillers and producers, analysts and experts said that energy flows in general would?remain unchanged for now. The ruling of the court could…
Baker Hughes reports that US drillers have kept the number of oil and natgas drilling rigs unchanged for a second consecutive week.
Baker Hughes, a leading energy services company, said that the number of oil and gas rigs in the United States remained unchanged this week for a second consecutive week. The number of oil and gas drilling rigs, a good indicator of future production, remained at 551 during the week ending February 20. This is the same as the previous week.
Indonesian Pertamina will continue to bid for US energy imports
Pertamina, the Indonesian state oil and gas company, said on Friday that imports of energy products from the U.S. will still be done 'through a competitive bidding process' following the conclusion of the trade agreement between the two nations. On Thursday, Indonesia and the U.S. signed a deal that reduced U.S. tariffs from 32% to 19%.
Tullow Oil strikes multiple deals in sweeping capital overhaul
Tullow Oil announced on Friday a capital overhaul and a number of deals to increase its presence in West Africa. The heavily-indebted company is aiming to stabilize its operations and ensure longer-term growth. It said that the company had signed a refinancing agreement with Glencore, and…
NYT: Trump's ally Novatek signs deal with Russia on natural gas in Alaska
The New York Times reported that American financier 'Gentry Beach', who is a close friend of Donald Trump's family, had signed an agreement last fall with Russia's Novatek to develop natural gas for Alaska during the Western sanctions against Russia. Trump and Russian President Vladimir Putin…
What is the current status of international oil companies operating in Venezuela?
Here are some key facts about the international oil companies operating in Venezuela. The country has vast oil reserves, but a dilapidated infrastructure. Hugo Chavez, the then president, expropriated foreign oil companies in the 2000s to strengthen the control of the PDVSA, the state-owned oil company, over the oilfields.
Shell claims US general exploration licenses in Venezuela will enable it to move forward with Dragon natural gas project
Shell's Dragon gas project will be able to move forward with the general licenses issued by the U.S. for oil and natural gas exploration in Venezuela this month, according to a Shell spokesperson on Thursday. As U.S. policies toward Venezuela have shifted, the project has been plagued by a series of starts and stops.
Exxon will determine the size of the natural gas reserves in Guyana's Stabroek Block.
Guyana’s energy minister stated that Exxon Mobil continues to work on determining the size of natural resources in Guyana’s?prolific Stabroek Block as the company pursues wider development of the resource. Previous statements by the U.S. oil giant, who leads the consortium operating the Stabroek Oilfield…
Cenovus, a Canadian company, beats its fourth-quarter profit expectations and begins redevelopment at the former MEG site
Cenovus Energy announced on Thursday that it has begun drilling new oil wells at its Christina Lake Oil Sands site in 'northern Alberta,' formerly owned MEG Energy. The plan will increase the company’s production this year as well as by 2027. The Canadian oil sands company, which exceeded…
What is the current status of international oil companies operating in Venezuela?
Here are some key facts about the international oil companies operating in Venezuela. The country has vast oil reserves, but a dilapidated infrastructure. In the early 2000s, the then-President?Hugo Chavez took assets from foreign oil companies to strengthen the control of the state-owned PDVSA over the oilfields in Venezuela.
Libyan traders bring in Western traders to counter Russian fuel flow
Three trading sources have confirmed that global oil traders and firms including Vitol Trafigura, and TotalEnergies won the tenders for supplying gasoline and diesel to Libya. The country is allowing large Western companies a broader access and reducing its imports of Russian petrol. Libya has been overhauling its oil industry for 15 years…
Maurel & Prom, a Venezuelan oil firm, says that teams are fully mobilised after the US issued key authorization.
Maurel & Prom has a team in Venezuela that is fully mobilised, and'ready for the next stages of development', said its chief executive on Thursday. This was after the U.S. - added the French oil producer?to a a list of companies authorized to increase operations in Venezuela. M&P stopped exporting oil from Venezuela in the second quarter last year…
Rio Tinto misses its annual profit forecast on iron ore challenges
Rio Tinto missed its expectations for the annual underlying profit on Thursday as lower iron ore prices, amidst rising global supply, weighed down on its core business. However, stronger copper prices and production limited the impact. The world's biggest iron ore producer recently abandoned merger discussions with Glencore.
Indonesia and US firms sign trade, investment agreements worth $7 billion
The U.S. ASEAN Business Council reported that Indonesian & U.S. firms signed 'trade and investment agreements worth more than $7 bn? on Wednesday, a day before Indonesian President Prabowo?Subianto meets with U.S. president Donald Trump for a meeting to sign a final deal. According to a U.S.
Occidental Petroleum tops quarterly profit estimates on midstream support
Occidental Petroleum surpassed Wall Street's expectations for the fourth-quarter profit on Wednesday as its?midstream?unit helped offset lower crude?oil?prices. In extended trading, shares of the 'company' rose by nearly 3%. Occidental realized oil prices dropped to $59.22 a barrel in the fourth-quarter…
Texas Pacific Land's core quarterly profit exceeds estimates due to stronger water sales
Texas Pacific Land exceeded Wall Street expectations for the fourth-quarter core profits on Wednesday as higher water sales and production offset lower oil prices. The company generates revenue from fixed fees, such as those for construction materials, water treatment or sourcing services, and oil and natural gas royalty interests.
Nigeria redirects all oil and gas revenues to the Federation account as part of sweeping reform
The presidency announced on Wednesday that President Bola Tinubu signed an order directing all oil and gas revenues due to the government to be paid directly into the federation's account. This is part of a sweeping reform aimed at improving public finances. According to the law, Nigerian…
Caturus to purchase some South Texas assets from SM Energy for $950 Million
SM Energy, a U.S. oil and gas company, announced?on Wednesday that it would sell selected assets in South Texas for $950 millions?in order to reduce its debt and bolster its capital structure. SM Energy shares increased 4.8% during afternoon trading on the back of a rise in crude oil prices.
Europe's STOXX 600 closes on record high due to earnings boost. ECB shifts focus
Investors assessed corporate earnings and reports about a possible leadership change at the European Central Bank. All major regional benchmarks finished in positive territory. The pan-European Index closed 1.2% higher at 628.69. The defence sector rose 2.9%. BAE Systems added about 4%, after…
Spain's Naturgy wants to talk with Yamal about the impact of EU's Russian Gas Ban
A senior official at Naturgy said that the company will be holding talks with Russia's Yamal Gas in order to declare force majeure on their long-term contract. This is due to an EU ban on Russian gas imports. In 2013, the Spanish power utility Yamal signed a long-term agreement to import around 3 billion cubic meters of Russian LNG every year.
Exxon’s Uaru project and Whiptail project in Guyana is moving ahead of schedule according to an executive.
Exxon Mobil’s President of Guyana Operations said that the company's fifth- and sixth-projects in Guyana, Uaru and Whiptail, are on schedule and within budget. Alistair Routledge (Exxon Guyana president) refused to give a timeline for the start-up of projects when asked by. Whiptail, meanwhile, is expected to begin production in 2027.