May 23, 2025 – Oil & Gas 360

EnerCom Announces Premier Networking Events at the 30th Annual EnerCom Denver – The Energy Investment Conference, Including Charity Golf, Monday Cocktail Mixer, and Casino Night

May 23, 2025

(Oil & Gas 360) – Join us as we celebrate three decades of bringing together the energy industry’s companies, investors, analysts, and industry leaders! Investors are encouraged to register for EnerCom Denver – The Energy Investment Conference, featuring a broad group of public and private energy companies at www.enercomdenver.com Limited presentation opportunities are available for E&P, Midstream, OFS, Energy Transition and Emerging

Energy Market Assessment: Headlines continuing to paint a bearish oil & natural gas picture during the month of May

May 23, 2025

(Oil& Gas 360) – Headlines Continuing To Paint A Bearish Oil & Natural Gas Picture During The Month Of May Are Keeping Steadily-Tightening, Temporarily Hidden. Wednesday’s main oil market headline was that U.S. inventory increased again. The main headline from Wednesday morning’s release of the Department of Energy’s (DOE’s) Weekly Petroleum Status Report was that “U.S. crude oil inventory increased again.”

Phillips 66 to lay off most workers at Los Angeles refinery

May 23, 2025

(Oil Price) – U.S. refining giant Phillips 66, which will close its LA refinery later this year, will lay off in December most of the workers at the plant, Reuters reports, citing sources with knowledge of the plans. Last October, Phillips 66 said it would shut down its refinery in the Los Angeles area in the fourth quarter of 2025, due to “market dynamics.”

Saudi Aramco seeks investors in Jafurah infrastructure assets, sources say

May 23, 2025

(BOE Report) – Saudi oil giant Aramco is seeking investors in infrastructure, including pipelines, for its $100 billion Jafurah gas project, two people familiar with the matter told Reuters. The Jafurah project is key to Saudi Aramco’s ambitions to become a major global player in natural gas and to boost its gas production capacity by 60% by 2030 from 2021 levels.

Chevron’s Venezuela oil license set to expire next week, says U.S. Secretary Rubio

May 23, 2025

(World Oil) – U.S. Secretary of State Marco Rubio said in a post on X that a Venezuela oil-export license will expire next Tuesday, defying earlier expectations that it would be extended. The tighter time frame would put pressure on Chevron Corp.’s operations in the sanctioned nation. The U.S. oil giant has been a major contributor to Venezuela’s economy in

Trump to sign orders to boost nuclear power as soon as Friday, sources say

May 23, 2025

(Investing) – WASHINGTON – U.S. President Donald Trump will sign executive orders as soon as Friday that aim to jumpstart the nuclear energy industry by easing the regulatory process on approvals for new reactors and strengthening fuel supply chains, four sources familiar said. Facing the first rise in power demand in two decades from the boom in artificial intelligence, Trump declared

U.S. rig count had an increase of 1 this week, at 585- oil and gas 360

U.S. rig count decreased by 10 is at 566

May 23, 2025

This week’s Baker Hughes Rig Count shows that the U.S. decreased by 10 over last week, resulting in a total count of 566 rigs. Canada had a increase of 7 over last week, resulting in a total Canadian count of 114 rigs. Breakdown by region Of the regions tracked by Baker Hughes, only the Utica region experienced an increase this

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