(Oil Price) – President Donald Trump wasted no time flexing his pro-fossil fuel stance, approving the first LNG export permit since Biden’s controversial pause last year and creating a new energy council to expand U.S. oil and gas production. The move is a sharp policy reversal and seeks to reinforce America’s position as the world’s top hydrocarbon producer. Commonwealth LNG, the
(Oil Price) – This week in the crude oil market was a rollercoaster of price swings as bullish supply concerns clashed with bearish macroeconomic and geopolitical developments. The early week saw oil extend its gains on supply constraints from Russia and Iran, but prices reversed sharply midweek as rising U.S. inventories, a hawkish Federal Reserve, and renewed optimism about a resolution
(BOE Report) – Diamondback Energy is in talks to buy EnCap-backed Double Eagle, a big West Texas energy producer, for more than $5 billion, the Wall Street Journal reported on Friday, citing people familiar with the matter. Last year, Reuters reported that Double Eagle was exploring a sale of its Permian Basin-based producer in a deal that could be worth
(Oil & Gas 360) – DECARBON 2025 brought together industry leaders to chart the course for sustainable energy transition strategies in Berlin, Germany on 10-11 February. Central themes included solutions for reducing carbon footprints across all industry segments, hydrogen production, advancements in refining, integration of circularity principles and others. The Oil and Gas Decarbonisation Congress (DECARBON 2025) has concluded in
(BOE Report) – Tightened U.S. sanctions on Moscow have disrupted a roaring trade in discounted Russian oil to China and India, reviving demand for Middle Eastern and African crudes, roiling shipping markets and driving up oil prices. Washington’s January 10 sanctions targeted tankers carrying Russian oil in a push to more effectively limit Moscow’s oil revenue, the aim of western
(World Oil) – EDF Saudi Arabia and TAQA Geothermal Energy Company have signed a strategic Memorandum of Understanding (MoU) to collaborate on geothermal energy technologies including power generation and HVAC applications as well as Compressed Air Energy Storage in Saudi Arabia. The agreement was formalized during the third edition of the PIF Private Sector Forum, held at the King Abdul
This week’s Baker Hughes Rig Count shows that the U.S. had an increase of 2 over last week, resulting in a total count of 588 rigs. Canada had an decrease of 4 over last week, resulting in a total Canadian count of 245 rigs. Breakdown by region Of the regions tracked by Baker Hughes, the Granite Wash and the Permian
(World Oil) – ADNOC Drilling has announced record financial results for the fourth quarter and full year ending December 31, 2024. Full-year revenue $4.03 billion, +32% year-on-year Full-year EBITDA $2.01 billion, +36% year-on-year, 50% margin Full-year net profit $1.30 billion, +26% year-on-year, 32% margin “Our record-breaking financial performance demonstrates our constant commitment to maximizing growth and returns for our shareholders, while
(Investing) – Oil prices rose Friday, on course to snap three straight weeks of losses amid relief that U.S. President Donald Trump did not immediately impose reciprocal tariffs as initially threatened. At 09:10 ET (14:10 GMT), Brent oil futures expiring in April rose 0.3% to $75.24 a barrel, while West Texas Intermediate crude futures rose 0.2% to $71.43 a barrel. Both benchmark contracts were trading
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