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May 8, 2025

U.S. sanctions disrupt Chinese teapots’ purchases of Iranian oil- oil and gas 360

U.S. sanctions disrupt Chinese teapots’ purchases of Iranian oil

May 8, 2025

(Oil Price) – Independent Chinese refiners have started to experience difficulties in procuring cheap Iranian crude oil while others have stopped purchases from Iran, after the United States sanctioned two independent refiners in the past two months, sources with knowledge of the issue have told Reuters. Chinese crude oil imports topped 12 million barrels per day (bpd) in March, the highest volume

Kazakhstan says it has no plans to cut oil production this month- oil and gas 360

Kazakhstan says it has no plans to cut oil production this month

May 8, 2025

(World Oil) – Kazakhstan, which has created tensions within OPEC+ by consistently breaching its production limit, has no plans to cut oil output in May, the country’s Energy Ministry said. Central Asia’s largest oil producer will pump a daily average of 277,000 metric tons of crude and condensate in May, the same level as in April, and compared with 260,000

Refiners defy oil price slump with strong Q1 profits on solid margins- oil and gas 360

Refiners defy oil price slump with strong Q1 profits on solid margins

May 8, 2025

(Oil Price) – Despite slumping oil prices, global refiners are turning in strong first-quarter earnings, thanks to a sharp rebound in profit margins, Reuters reports, with U.S. Gulf Coast refiners processing Mars crude enjoying a doubling of margins to some $16 per barrel, $7 margins in Singapore for Dubai crude, and a 36% margin jump in Asia for Arab Light crude. All in

Permian Resources acquires Delaware basin assets from APA for $608 million- oil and gas 360

Permian Resources acquires Delaware basin assets from APA for $608 million

May 8, 2025

(World Oil) – Permian Resources has reached an agreement to buy core assets in the Delaware basin from Apache parent company APA Corp. The deal, valued at $608 million, includes 13,320 net acres, 8,700 net royalty acres and 12,000 Boe/d directly offset Permian Resources’ core New Mexico operating areas. The transaction is expected to close by the end of the

ConocoPhillips announces Bill Bullock to retire after 39 years with the company- oil and gas 360

ConocoPhillips announces Bill Bullock to retire after 39 years with the company

May 8, 2025

(Oil & Gas 360) – HOUSTON–(BUSINESS WIRE)–ConocoPhillips (NYSE: COP) today announced that W.L. (Bill) Bullock, executive vice president and chief financial officer, will retire from ConocoPhillips after 39 years of distinguished service. Andy O’Brien, currently senior vice president, Strategy, Commercial, Sustainability and Technology, will succeed Bill as chief financial officer, effective June 1, 2025. Andy will also retain responsibility for Strategy, Commercial

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