March 13, 2025 – Oil & Gas 360

U.S. energy project permitting slows amid layoffs of Federal employees

March 13, 2025

(Oil Price) – The mass layoffs of federal employees is leaving the process of critical energy projects permitting understaffed and slowed in various oil-producing U.S. areas, Reuters reports, quoting agency representatives and state officials. The newly created Department of Government Efficiency (DOGE), led by Elon Musk, is axing the federal workforce on a mass scale. Among the agencies hit by the layoffs

Murphy Oil to acquire BW Pioneer FPSO in Gulf of America for $125 million

March 13, 2025

(World Oil) – Murphy Oil Corporation today announced that a subsidiary has signed a Sales & Purchase Agreement (SPA) to acquire the BW Pioneer floating production storage and offloading vessel (FPSO) from BW Offshore. The gross purchase price is $125 million, subject to customary closing adjustments, and includes an initial approximate $100 million payment upon delivery by the end of first

Africa’s oil and gas investment to hit $43 billion in 2025

March 13, 2025

(Oil Price) – Operators and developers are expected to spend a total of $43 billion on oil and gas projects in Africa this year, as established producers and newcomers see growing investments, the African Energy Chamber said in a new report. Longer term projections point to capital expenditure (capex) hitting a decade-high of $54 billion in 2030, thanks to fresh final investment

Chevron’s Venezuela oil contractors continue work despite impending Trump deadline

March 13, 2025

(World Oil) – Venezuelan oil contractors are continuing their work with Chevron Corp. and have not been warned of an impending shutdown despite a U.S. government deadline to stop producing oil there by early April. Local service companies working for three of Chevron’s joint ventures with state-owned Petroleos de Venezuela SA have not slowed down work, according to five people

Energy executives bask in Trump sun but ignore cheap energy pitfall

March 13, 2025

(Reuters) – HOUSTON, March 13 – Donald Trump’s return to the White House caused “animal spirits” to soar in the oil and gas sector, and these vibes were palpable in the halls of the sector’s annual conference in Houston this week. But the industry appears to be ignoring a central Trump objective: cheap energy. “We can all feel the winds

Oil dips as economic concerns, supply and demand expectations weigh

March 13, 2025

(Investing) – LONDON – Oil prices slipped on Thursday after surging in the previous session on a larger-than-expected draw in U.S. gasoline stocks, as markets weighed macroeconomic concerns and demand versus supply expectations. Brent futures were down 37 cents, or 0.5%, at $70.58 a barrel at 10:25 a.m. EDT (1425 GMT), while U.S. West Texas Intermediate crude futures fell 39 cents, or

Weekly Gas Storage: Inventories decrease by 40 Bcf- oil and gas 360

Weekly Gas Storage: Inventories decrease by 62 Bcf

March 13, 2025

Natural Gas Inventories as of March 7, 2025 The EIA has released its natural gas inventory report, showing a net decrease of 62 Bcf as of March 7, 2025. Working gas in storage was 1,698 Bcf as of Friday, March 7, 2025, according to EIA estimates. This represents a net decrease of 62 Bcf from the previous week. Stocks were

Premium Content