Shale producer Hess beats profit estimates on higher output in US, Guyana
Oil and gas producer Hess Corp’s fourth-quarter profit surpassed Wall Street expectations on Wednesday, buoyed by higher production volumes in the United States and Guyana. Its total production rose...
View ArticleUS upstream oil and gas dealmaking hit $105 billion in 2024, Enverus says
Dealmaking in the U.S. upstream oil and gas industry hit $105 billion in 2024, the third highest annual total ever, but activity slowed in the second half as buyers found fewer targets to acquire,...
View ArticleUS crude, gasoline inventories rise, distillate stocks fall – EIA
U.S. crude and gasoline inventories rose while distillate stocks fell last week, the Energy Information Administration said on Wednesday. Crude inventories rose by 3.5 million barrels to 415.1 million...
View ArticleTrump’s wish for cheap oil unlikely to be granted
Trump said he would ask Saudi Arabia to increase investment in output by USD 1 trillion dollars. To encourage domestic production, he unveiled measures to roll back environmental restrictions on energy...
View ArticleOil prices slip as US inventories rise; tariff concerns in focus
Oil prices edged lower on Wednesday on a rise in U.S. crude stockpiles and easing concern over Libyan supply, with U.S. tariffs on Canadian and Mexican imports also in focus. Brent crude futures were...
View ArticleKazakhstan aims for revision of contracts with Western oil majors
Kazakhstan, one of the world’s 10 biggest oil producers, stepped up pressure on international firms working in the country on Tuesday with a call for “better terms” in their contracts. The central...
View ArticleOil industry unlikely to rush to Alaska despite Trump’s call to drill
U.S. oil and gas companies are unlikely to expand development in Alaska and the Arctic following President Donald Trump’s executive order enabling them to do so, company officials and industry...
View ArticleThe Commodities Feed: European gas prices surge to 15-month high
Metals – Aluminium climbs as EU readies ban on Russian imports Aluminium rose in yesterday’s trading after reports of the EU proposing a phased ban on imports of Russian aluminium to the bloc. The...
View ArticleOil wavers as markets await clarity on Trump tariffs on Canada, Mexico
Oil prices were little changed on Thursday as markets braced for threatened tariffs by U.S. President Donald Trump on Mexico and Canada, the two largest suppliers of crude oil to United States, and...
View ArticleCould Policy Shifts Boost U.S. Energy Output?
Will the new administration’s regulatory changes boost U.S. energy production? It depends perhaps on what kind of energy we’re talking about. Crude Oil Currently, the U.S. is having record production...
View ArticleRussia’s oil output down 2.8%, gas production up 7.6% in 2024, deputy PM says
Russia’s oil and gas condensate production reached 516 million metric tons, or 10.32 million barrels per day, in 2024, Deputy Prime Minister Alexander Novak told the energy ministry’s in-house magazine...
View ArticleShell Reports Strong 2024 Results
“2024 was another year of strong financial performance across Shell. Despite the lower earnings this quarter, cash delivery remained solid and we generated free cash flow of $40 billion across the...
View ArticleNorth Sea benchmark oil supply to rise in March
Supply of the five North Sea crude oil grades underpinning the dated Brent benchmark will average about 565,000 barrels per day (bpd) in March, up from 550,000 bpd in February, loading programmes...
View ArticleShell sees 2024 oil and gas reserve replacement ratio at 85%
Shell SHEL said on Thursday it expects its proved oil and gas reserve replacement ratio for last year to be 85%. The reserve replacement ratio (RRR) measures how much oil and gas a company adds to its...
View ArticleOil prices steady ahead of Trump’s threatened tariffs on Canada, Mexico
Oil prices were little changed on Thursday as investors focused on tariffs threatened by U.S. President Donald Trump on Mexico and Canada, the two largest suppliers of crude to the United States. Brent...
View ArticleUrals stable, Russia’s offline primary oil refining capacity estimated to be...
Urals crude differentials to dated Brent remained stable on Thursday in muted trading activity while Russia’s offline primary oil refining capacity in January is estimated to be up 44% from December,...
View ArticleGlobal energy transition investment exceeded $2 trln last year, report shows
Global investment in low-carbon energy transition exceeded $2 trillion for the first time last year, a report by BloombergNEF showed on Thursday. WHY IT’S IMPORTANT Countries around the world are...
View ArticleOil set for weekly decline as Trump tariff threat looms large
Oil prices were steady on Friday but on course for a weekly decline as markets wait to see if U.S. President Donald Trump follows through on his threat to impose tariffs on Mexico and Canada this...
View ArticleMiddle East Crude-Benchmarks slide, January average over two-year high
Middle East crude benchmarks Oman, Dubai and Murban fell on Friday from the previous session, while ending the month at a higher note. Spot premiums of the three averaged above $3 per barrel for...
View ArticleTrump promise to refill SPR ‘right to the top’ to face practical and...
US President Donald Trump’s promise to refill the US Strategic Petroleum Reserve during his second term could face a host of practical and political roadblocks, experts told S&P Global Commodity...
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