Auto Added by WPeMatico
Summary Potential supply glut from OPEC+ and US weighs on prices Venezuela oil export operations continue despite US sanctions Analysts predict lower prices could curb supply, preventing price freefall (Reuters) – Oil prices were little changed on Friday and poised for a second straight weekly decline as a potential supply glut and prospects of a …
Oil Set for Second Straight Weekly Decline on Supply Outlook Read More »
(Reuters) – Saudi Arabia’s crude oil exports hit their highest level in two and a half years in October, data from the Joint Organizations Data Initiative (JODI) showed on Thursday. Crude exports from the world’s largest oil exporter increased to 7.100 million barrels per day (bpd), higher than September’s 6.460 million bpd, and their highest …
Saudi Arabia Crude Exports Rise to Two-and-a-Half Year High in October Read More »
Japan Petroleum Exploration said on Thursday it will acquire Verdad Resources Intermediate Holdings LLC (VRIH), which owns tight oil and gas assets in the U.S. for $1.3 billion in its largest-ever deal. JAPEX will buy VRIH, which holds assets in Colorado and Wyoming, from Verdad Resources Feeder LLC using a mix of its own funds …
Japan’s JAPEX Buys US Tight Oil and Gas Assets in $1.3 Billion Deal Read More »
Asia’s imports of U.S. crude oil, coal and liquefied natural gas are on track to decline this year despite President Donald Trump’s efforts to boost shipments as part of his trade and tariff policies. The decline in imports from the United States is largely driven by China, the world’s biggest buyer of commodities, which pulled …
Asia’s Imports of US Energy Drop in 2025 Despite Trump Trade Moves: Russell Read More »
The surprise appointment of Meg O’Neill as BP’s first outsider CEO offers the bruised $90 billion British oil company three clear strategic choices for moving forward: build, buy or be bought. BP announced on Wednesday that CEO Murray Auchincloss would step down the following day and that O’Neill, current CEO of Australian-listed Woodside Energy, would …
BP’s CEO Shake-up Could Pave Way to Mega Merger: Bousso Read More »
Oil and gas major BP has appointed Meg O’Neill, the head of Australia’s Woodside Energy, as its next CEO to lead its effort to boost profits and refocus on oil and gas after a detour into renewables. O’Neill, who will take over in April following the abrupt departure of Murray Auchincloss, will become BP’s first …
BP Appoints Woodside’s Meg O’Neill as CEO After Auchincloss’ Abrupt Exit Read More »
By Ari Natter Oil production hit another record this year, climbing above 13.8 million barrels a day in September. Photographer: Robyn Beck/AFP/Getty Images The US is on pace to pump more oil this year than any other nation in history as President Donald Trump puts the federal government’s full weight behind his sweeping agenda to …
Trump Vowed Energy Dominance. Here’s How He’s Doing Read More »
Summary US firms eye Canada’s Montney due to depleted US shale prospects Montney offers room to grow with comparatively untapped geology Rising interest in Canada’s oilpatch comes after a decade of reduced foreign investment (Reuters) – U.S. oil and gas producers in search of fresh drilling territory are looking to expand in Western Canada’s Montney …
Why Canada’s Hottest Shale Play is Catching the Eye of US Producers Read More »
(Reuters) – A U.S. judge on Wednesday blocked Michigan from enforcing a 2020 order to shut down Enbridge’s Line 5 oil pipeline running beneath a channel linking two of the Great Lakes, ruling that pipeline safety is a federal responsibility. The decision comes five years after Michigan Governor Gretchen Whitmer revoked an easement allowing Canadian …
(Reuters) – Venezuela may soon have to start closing some oil wells as it runs low on storage capacity following last week’s tanker seizure and U.S. plans to block other sanctioned vessels, Bloomberg News reported on Wednesday, citing people familiar with the situation The country’s main oil storage and tankers sitting at its terminals are …
Venezuela is Running Out of Oil Storage Space Amid Tanker Curbs, Bloomberg News Reports Read More »
