oil-and-gas
60 stories related to this topic, newest first.
insidermonkey.comAPA Reports Q1 2026 Results and Raises Full-Year Oil Production Outlook
APA Corporation held its first-quarter 2026 earnings call on Thursday. Executives reviewed financial results, operational performance, and updated guidance for the remainder of the year.
france24.comMoody's Keeps Congo at Caa2 Junk Rating, Revises Outlook to Positive
Moody's Ratings changed the Republic of Congo's outlook to positive from stable on 29 May 2026 while keeping its long-term foreign and local currency sovereign ratings at Caa2. The move follows four international bond sales that raised nearly $2.5 billion.
citizen.co.zaU.S. Extends Deadline for Lukoil Foreign Asset Sale to June 27
The U.S. federal government has granted Lukoil a sixth extension to find a buyer for its international operations. The new deadline is June 27, six months after sanctions were imposed last October.
Washington ExaminerCeasefire Extension Talks Advance as Oil Prices Hold Steady
Negotiators agreed to extend a U.S.-Iran ceasefire by 60 days and begin nuclear talks, pending President Donald Trump’s approval. Brent crude traded at $93.99 a barrel and West Texas Intermediate at $89.18 a barrel after the announcement.
nypost.comBP Board Removes Chair Albert Manifold After Eight Months
BP removed chair Albert Manifold on Tuesday following a unanimous board vote citing governance and conduct issues. Manifold issued a statement Thursday rejecting bullying allegations while acknowledging he pushed staff hard on costs and performance.
upi.comBP Names Meg O’Neill Permanent Chief Executive
BP has appointed Meg O’Neill as its permanent chief executive. The decision ends any shared authority structure at the top of the company.
offshore-technology.comBP Removes Chair Albert Manifold Over Governance Concerns
BP said it removed Chair Albert Manifold after identifying governance and conduct issues. The board acted less than a year after appointing him and named an interim replacement while it searches for a permanent chair.
sana.syExxon and ConocoPhillips Seek Contract Terms for Possible Venezuela Return
The two companies are seeking durable contract terms and a mechanism to settle billions in outstanding claims before considering renewed operations in Venezuela, two decades after their exit.
rigzone.comNorth Sea energy firms report declining UK investment confidence
A survey of 121 energy-sector organizations found most still see long-term potential in the North Sea if fiscal and regulatory settings remain stable. Several operators said overseas markets are expected to overtake domestic revenue within five years.
insurancejournal.comSantos Plans Expanded Oil and LNG Output in Australia, Alaska, Papua New Guinea
Santos said it will focus investment on crude oil and natural gas production in three regions. The company recently began output at its Pikka field in Alaska and approved a gas project expansion in Papua New Guinea.
rigzone.comEni Plans to Accelerate $4 Billion Ivory Coast Offshore Expansion
Eni Chief Operating Officer Guido Brusco said the company will seek to speed up a $4 billion expansion of its offshore joint venture with Vitol Group in the Ivory Coast. The statement provides no additional timeline or project details.
dailywire.comOil Companies Increase Bids for Alaska Arctic Leases
Major energy firms submitted record bids for oil and gas leases in Alaska's National Petroleum Reserve. Recent geological findings and federal policy changes have renewed industry interest in the region.
yahoo.comNorway Increases North Sea Oil and Gas Output After Strait of Hormuz Closure
Norway has raised fossil fuel production to replace supplies lost after the Strait of Hormuz closed. The government plans to reopen three North Sea gas fields and keep output high past 2030.
offshore-technology.comFederal Oil Lease Sale in New Mexico Raises $4 Billion
The Bureau of Land Management conducted a federal oil and gas lease sale in New Mexico's Delaware Basin on May 20. High bids and rental payments totaled more than $4 billion, exceeding the prior state record by over four times.
nationalpost.comArgentina Offers 15 Vaca Muerta Oil Blocks for Bid
Argentina placed 15 shale oil blocks in the Vaca Muerta formation up for auction. State-controlled YPF simultaneously announced a $25 billion oil export project.
bbc.co.ukRystad Energy estimates AI will add $500 billion in value to oil and gas producers by 2030
Rystad Energy estimates that artificial intelligence and digitalization could generate nearly $500 billion in cumulative value for upstream oil and gas companies between 2026 and 2030. The gains would come from lower operating costs, higher production volumes, and shorter project…
Washington ExaminerRepublicans Introduce Bills to Exempt Small Oil and Gas Wells from EPA Emissions Rules
Republican lawmakers are introducing legislation in the House and Senate to exempt small oil and gas producers from certain Clean Air Act requirements. The bills target marginal wells and would remove EPA standards for monitoring and reporting greenhouse gas emissions.
BenzingaUAE Advances Second Oil Pipeline to Bypass Strait of Hormuz
The United Arab Emirates is accelerating construction of a second pipeline to route oil exports around the Strait of Hormuz. The project is nearly half complete and is now scheduled for completion in 2027.
middleeasteye.netUAE Oil Pipeline Bypassing Strait of Hormuz Reaches 50 Percent Completion
The project is advancing faster than the previously announced 2027 operational target. Officials have not disclosed a revised completion date.
calgaryherald.comCanada and Alberta Agree on Oil Sands Deal Removing Emissions Cap
Prime Minister Mark Carney reached an agreement with Alberta to remove a proposed hard cap on carbon emissions from the oil sector. The deal also includes plans to expand the power grid using natural gas and expedite permitting for a new Pacific Coast pipeline.
financialpost.comUganda Oil Pipeline Project Advances Skills Training Ahead of 2026 Production
Uganda is preparing for first oil production in July 2026. The East African Crude Oil Pipeline project is emphasizing skills transfer and local workforce development.
U.S. Upstream Oil Mergers Reach $38 Billion in First Quarter
U.S. upstream oil mergers totaled $38 billion in the first quarter of 2026, the highest quarterly figure in two years. The increase occurred despite a slowdown in March linked to volatility from the Middle East conflict.
naturalnews.comTrump Administration Accelerates Oil Permitting in Alaska Reserve
The administration is advancing plans to streamline the permitting process for oil development inside the National Petroleum Reserve-Alaska. The effort aims to accelerate crude production in the U.S. Arctic region. Officials say the changes would cut delays in federal approvals f…
Al JazeeraCanadian Prime Minister Visits Alberta After Court Rejects Separatist Referendum Signatures
The prime minister traveled to Alberta on Friday to announce a preliminary agreement for a crude oil pipeline with the provincial government. The visit follows a court ruling that blocked a separatist group's petition for an independence referendum on procedural grounds involving…
ibtimes.co.ukArgentina Launches Largest Vaca Muerta Auction Since 2016 With 15 Exploration Blocks
Argentina has opened bidding on 15 new blocks in the Vaca Muerta shale formation through provincial company Gas y Petróleo del Neuquén. The auction, the largest since 2016, comes as Vaca Muerta wells outperform major U.S. shale plays and production heads toward 1 million barrels…
indiatoday.intoday.inADNOC to Double Fujairah Oil Export Capacity with West-East 1 Pipeline by 2027
ADNOC is fast-tracking construction of a new pipeline that will double its export capacity through Fujairah outside the Strait of Hormuz. Sheikh Khaled bin Mohamed bin Zayed Al Nahyan chaired a board meeting reviewing the project as the UAE, which left OPEC on May 1, 2026, seeks…
The GuardianUAE to Complete Second Oil Pipeline Bypassing Strait of Hormuz by 2027
The United Arab Emirates announced it will finish a new pipeline to the port of Fujairah by next year, doubling its overland crude export capacity to roughly 3.6 million barrels per day. The project, previously undisclosed, comes as a blockade of the Strait of Hormuz approaches i…
blackenterprise.comNigeria's Dangote Completes $20 Billion Refinery After Years of Delays
Africa's richest man described how traders, shippers and subsidy beneficiaries delayed land access and tried to block the project that has now altered Nigeria's fuel market. The refinery sources 56 percent of its crude from Nigeria and has reduced the influence of import-dependen…
SemaforAfrican Energy Producers Accelerate Plans to Increase Output
Countries across Africa have accelerated plans to boost energy independence following the Iran war. Senegal is seeking $7.5 billion in investment for a gas field discovered about a decade ago. Morocco and Nigeria have agreed to jointly develop a $25 billion pipeline while Africa'…
prnewswire.comShell Reports Payments to Governments for 2025
Shell plc released its annual Report on Payments to Governments for the year ended December 31, 2025. The filing details payments arising from extractive activities including exploration, development and production of oil, natural gas and minerals. The report was prepared under U…
upi.comExxon, Shell and Repsol Submit $163 Million in Bids at Alaska Petroleum Reserve Lease Sale
A lease sale in the National Petroleum Reserve in Alaska drew record bids totaling $163 million from Exxon, Shell and Repsol. The Trump administration revived the sales late last year after none were held under former President Biden. Projects including Willow and Pikka are expec…
theedgemarkets.comSaudi Aramco Seeks at Least $10 Billion in Real Estate Sale and Leaseback
Saudi Aramco is pursuing a sale and leaseback transaction for its real estate assets that could raise at least $10 billion. The deal would include the company's residential community in Saudi Arabia's Eastern Province. OilPrice.com reported the plans on Wednesday, citing sources…
news.google.comRussian Official Accuses U.S. of Seeking to Dominate Global Energy Market
A senior Russian official said the United States is attempting to push Russian energy companies such as Lukoil and Rosneft out of international markets. The official stated that the effort is aimed at gaining greater control over world energy supplies. The accusation was reported…
al-monitor.comBP Takes 40% Stake in Uzbek Oil and Gas Exploration Blocks
BP has taken a 40 percent participating interest in a production sharing agreement covering six blocks in Uzbekistan's North Ustyurt region. The deal, announced Wednesday, comes as the British energy company resets its strategy to focus on its core oil and gas business. SOCAR rem…
finance.yahoo.comTotalEnergies, QatarEnergy and ConocoPhillips Sign Deal to Review Syria Offshore Block
The three energy companies have signed an agreement to assess an offshore block in Syria. The deal focuses on reviewing the potential of the block for future development. The announcement comes as the companies explore opportunities in the region.
rigzone.comEni Explores Deal on Floating LNG Assets to Raise at Least €1 Billion
Eni has hired Morgan Stanley to explore a potential transaction involving its floating LNG operations. The structure would allow outside investors to provide capital tied to cash flows from those assets while Eni retains control. Reuters reported the early-stage discussions with…
Substrate placeholder — needs reviewSaudi Aramco Q1 Profit Rises 26%; East-West Pipeline Reaches 7 Million Barrels Per Day
Saudi Aramco reported adjusted net income of $33.6 billion for the first quarter, beating forecasts, as its East-West pipeline reached maximum capacity of 7 million barrels per day amid disruptions from the Iran conflict. The company said the pipeline has helped mitigate global e…
Shell Plans to Sell French Service Station Network
Shell intends to sell its network of about 60 service stations in France with a deal that could close in early 2027. The company expects to secure a buyer during the third quarter of 2026. The stations operate under concession contracts and generated an operating profit of $127.5…
thehindu.comPetrobras Reports First-Quarter Net Profit of 32.7 Billion Reais
Petrobras reported first-quarter net revenue of 123.7 billion reais, below analyst estimates of 136.1 billion reais. The Brazilian state-controlled oil company also posted adjusted EBITDA of 59.6 billion reais and net profit of 32.7 billion reais, both missing forecasts. Results…
rigzone.comNigeria Signs Deal With Chinese Firms to Rehabilitate Port Harcourt and Warri Refineries
Nigeria's state oil company NNPC has signed a memorandum of understanding with two Chinese firms for the completion, operation and maintenance of the Port Harcourt and Warri refineries. The agreement follows more than $25 billion spent on previous rehabilitation attempts that fai…
winnipegfreepress.comSaudi Aramco Q1 Profit Rises 26% as East-West Pipeline Reaches Full Capacity
Saudi Aramco reported adjusted net income of $33.6 billion for the first quarter, up 26% from a year earlier and beating analyst forecasts. The company's East-West Pipeline hit its maximum capacity of 7 million barrels per day amid disruptions in the Strait of Hormuz caused by th…
insidermonkey.comBrookfield Infrastructure Partners Reports Q1 2026 Earnings, Declares Quarterly Distribution
Brookfield Infrastructure Partners announced first-quarter 2026 earnings that met expectations and delivered organic growth at the high end of its target range. The company declared a quarterly distribution of about 46 cents per unit, payable June 30, representing 6% year-over-ye…
japantimes.co.jpSaudi Aramco Reports 26% Rise in First-Quarter Profit
The company said its net income for the first quarter reached levels supported by higher oil prices even as export volumes declined. The increase comes amid ongoing regional conflicts that have affected global energy markets. Saudi Aramco did not provide an absolute profit figure…
cnbc.comIran Closes Strait of Hormuz, Disrupting Nearly One Billion Barrels of Oil Flow
Iran has imposed a blockade of the Strait of Hormuz, resulting in the loss of nearly a billion barrels of oil with the shortage growing worse every day. Oil and gas CEOs told investors the disruption will drive fundamental change, prompting governments to diversify supplies and r…
etftrends.comVestas, Orsted and Equinor Post Strong Q1 Profits Amid Rising Energy Prices from Middle East Conflict
Wind turbine maker Vestas and offshore wind developer Orsted beat expectations in the first three months of 2026. Norway's Equinor, primarily an oil and gas producer, posted its strongest quarterly profit in three years and said the U.S. and Israeli-led war against Iran that bega…
CnbcADNOC Awards $55 Billion in Contracts as It Expands Capacity After Leaving OPEC
ADNOC Upstream CEO Musabbeh Al Kaabi announced the company is pushing ahead with $55 billion in new project awards as it accelerates investments following its OPEC exit. Al Kaabi emphasized strengthening local manufacturing during an interview at Make it in the Emirates in Abu Dh…
thegatewaypundit.comU.S. Extends License Allowing BP to Handle Payments With Sanctioned Iranian and Russian Partners
The U.S. has extended a license that permits BP to continue using a workaround for payments involving sanctioned Iranian and Russian entities. The arrangement applies to BP's participation in a major natural gas project in Azerbaijan. The extension allows operations to proceed wi…
mexiconewsdaily.comIneos Buys 21% Stake in Three Gulf of Mexico Oil and Gas Assets from Shell
Ineos announced the deal on Tuesday as part of more than $3 billion committed to its U.S. operations. The sites lie 80 miles off the Louisiana coast and include development of the Fort Sumter discovery estimated to hold over 125 million barrels of oil equivalent. Jim Ratcliffe ci…
ForbesEnergy Secretary Wright Says California Energy Policies Threaten National Security
Energy Secretary Chris Wright stated on May 5 that California’s energy policies have created an untenable threat to national security by increasing reliance on imported oil. Average gasoline prices in the state rose above $6 per gallon this week, more than $2 above the national a…
naturalnews.comEast African Crude Oil Pipeline Receives Over 2,200 Grievances from Communities
The East African Crude Oil Pipeline reported registering and handling more than 2,200 grievances through its redress mechanism. Officials spoke at the 11th Annual Oil and Gas Convention on May 6, 2026, highlighting accessible structures and route adjustments. Human rights represe…
nbcnews.comEquinor CFO Says Strait of Hormuz Will Take Six Months to Normalize
Torgrim Reitan, CFO of Equinor, stated that it will take six months for shipping through the Strait of Hormuz to return to normal operations. The executive made the comment while discussing the company's first-quarter earnings, which rose more than expected due to higher output a…
CnbcADNOC Upstream CEO Interviewed on Iran Conflict, Hormuz Shipping, and UAE OPEC Exit
Musabbeh Al Kaabi spoke with CNBC about the ongoing war in Iran and potential economic fallout from any sustained disruption in the Strait of Hormuz. The executive also addressed the UAE's decision to leave OPEC. The interview was published two hours ago.
insidermonkey.comHighPeak Energy Enters Credit Agreement, Reports First-Quarter Results
HighPeak Energy disclosed entry into a material definitive credit agreement on May 6, 2026. The filing also furnished first-quarter financial results and exhibits required under SEC rules.
BloombergAdnoc Awards $55 Billion in Projects as Part of Growth Plan Following UAE's OPEC Exit
Adnoc has revealed plans to speed up its growth strategy, including 200 billion dirham in project awards across upstream and downstream operations. This move comes shortly after the country's departure from OPEC on May 1. The awards total $55 billion.
finance.yahoo.comOccidental Petroleum Names Richard Jackson as CEO as Vicki Hollub Retires
Occidental Petroleum announced that its chief operating officer, Richard Jackson, will succeed Vicki Hollub as CEO effective June 1. Hollub, who has been with the company for over four decades, will retire but remain on the board. The transition follows reports of her planned ret…
Earthworks / Wikimedia (CC BY 3.0)Marathon Petroleum Shares Rise Following Dividend Announcement and Energy Sector Gains
Marathon Petroleum Corp. shares increased in overnight trading after the company declared a quarterly dividend. The rise followed a broader surge in the energy sector amid reports of discussions on sustaining an Iran blockade. Shares of other companies like Chevron and Exxon Mobi…
Substrate placeholder — needs reviewRepsol Releases Q1 2026 Earnings Report with 6 Million Data Point
Repsol has released its earnings report for the first quarter of 2026. The report covers financial performance from January to March 2026. @LiveSquawk detailed the report and reported a key data figure of 6 million.
Substrate placeholder — needs reviewQuesterre Energy Agrees to Sell Kakwa Central Assets for $23.5 Million
Questerre Energy Corporation has entered a binding agreement to sell its non-operated minority working interest in Kakwa Central assets. The deal includes a $23.5 million cash payment and the buyer's assumption of certain liabilities. The transaction is set to close on May 1, 202…
Trump Invokes Defense Production Act to Boost Domestic Energy Production
President Donald Trump signed five determinations under the Defense Production Act to accelerate domestic production of oil, natural gas, coal, and related infrastructure. The move aims to address rising energy prices amid the war in Iran by authorizing federal support to overcom…
SemaforAlgeria Launches Oil and Gas Licensing Round to Attract Investors
Algeria has initiated a licensing round for oil and gas exploration to increase production. The government estimates the sites hold hundreds of millions of barrels of crude and large volumes of natural gas. The move occurs as energy companies seek projects outside conflict areas…