April 7, 2025 – Oil & Gas 360

Stonepeak to invest $5.7 billion in Woodside’s Louisiana LNG project

April 7, 2025

(World Oil) – Australia’s Woodside Energy has reached a deal to sell 40% in its Louisiana LNG project with Stonepeak, under which the infrastructure investment firm will provide $5.7 billion towards the expected capital expenditure for the foundation development of the LNG export facility. The transaction provides “validation of project quality and increasing attractiveness of the project to other potential equity

Texas new drills jump 27% higher in March over February, tie January’s level

April 7, 2025

(World Oil) – The Railroad Commission of Texas on Friday released its figures for March drilling in the state, showing a noticeable gain over the previous month’s number. The overall figure also tied the level achieved in January. RRC figures show 1,072 new drills recorded during March (up 27.5%), including 818 oil wells, 246 gas wells and eight dry holes. This

Goldman Sachs slashes oil price forecast to below $60 in 2026

April 7, 2025

(Oil Price) – Higher risks of recessions and higher-than-expected OPEC+ production prompted Goldman Sachs to slash again its oil price forecasts for 2026, days after it had already cut its price outlook in the wake of the U.S. tariffs announcement last week. Goldman Sachs’s analysts issued a new note dated April 6, in which they slashed their 2026 oil price forecasts

Citi lowers 0-3 month Brent forecast to $60/barrel on tariff shock

April 7, 2025

(Investing) – Citi Research on Monday lowered its 0-3 month Brent price forecast to $60 per barrel and also reduced its 0-3 month copper and aluminium price forecasts to $8,000 per metric ton and $2,200 per ton, respectively due to the latest tariff announcements. Last week, U.S. president Donald Trump imposed a 10% baseline tariff on all imports to the U.S. and higher duties on

Libya’s first oil bid round in 18 years offers production sharing contracts

April 7, 2025

(Oil Price) – Libya will offer production sharing agreements to the successful bidders in its first oil and gas exploration bid round in 18 years, top Libyan oil officials said at an event in London on Monday. Libya is offering a total of 22 blocks for exploration and development, 11 offshore and 11 onshore blocks, including areas with undeveloped discoveries, in the first International Exploration

OPEC+ committee reiterates need for oil output quota compliance

April 7, 2025

(World Oil) – Key OPEC+ nations reiterated the need for members to stick to oil output quotas after the group’s surprise decision to speed up an output revival battered crude prices. The Joint Ministerial Monitoring Committee noted that some OPEC+ members failed to fully observe their limits or deliver extra curbs pledged as compensation for over-producing, according to a statement on

Oil tumbles further as US-China trade conflict fuels recession fears

April 7, 2025

(Investing) – LONDON -Oil prices extended losses on Monday, falling around 2% as escalating trade tensions between the United States and China stoked fears of a recession that would reduce demand for oil, while OPEC+ readies a supply increase. Brent futures were down $1.17, or 1.78%, to $64.41 per barrel at 1303 GMT, and U.S. West Texas Intermediate crude futures were down

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