(Oil Price)– One of the top U.S oil and gas producers, ConocoPhillips, is in an advanced stage of discussions to sell assets in Oklahoma to privately-held Stone Ridge Energy in a deal that could be worth about $1.3 billion, Reuters reports, citing sources with knowledge of the talks. ConocoPhillips last year acquired Marathon Oil in an all-stock deal with an enterprise value
(BOE Report)– U.S. President Donald Trump said on Tuesday that Japan will form a joint venture to develop a liquefied natural gas project in Alaska though a Japanese government official said he was not aware of such plans. It was not immediately clear whether Trump was referring specifically to the proposed $44 billion Alaska LNG project. That project would consist
(World Oil)– Halliburton Co. is idling some oilfield equipment in response to deteriorating demand among shale companies. The world’s largest provider of hydraulic fracturing is forecasting shrinking margins in its biggest business line as weakening demand weighs on the prices it can charge, Chief Executive Officer Jeff Miller said Tuesday. The company plans to idle or retire some equipment. “We’ll
(Oil Price)– Demand for electricity from data centers handling AI technology drove the price of the largest electricity auction in the United States to a new record, exceeding last year’s all-time high by 22%. Organized by PJM Interconnection, the capacity auction covers 20% of American consumers and aims to ensure that there is enough generation to respond to spikes in
(Investing) – HOUSTON -Volatility across energy and equity markets spooked investors in the second quarter, slowing the pace of mergers and acquisitions in the U.S. upstream oil and gas sector, analytics firm Enverus said on Wednesday. The slump in dealmaking follows a series of blockbuster takeovers by oil and gas majors in recent years, which culminated in a record $192 billion
(World Oil)– TotalEnergies has announced the start of production from the BEGONIA and CLOV Phase 3 offshore Angola projects, which together will add a total of 60,000 bpd of new production. The two subsea tie-back projects will deliver additional production leveraging available capacity on existing FPSOs, TotalEnergies stated, citing added benefits of low marginal costs and low carbon intensities. TotalEnergies
Weekly Crude Oil Storage as of July 18, 2025 U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) decreased by 3.2 million barrels from the previous week. At 419 million barrels, U.S. crude oil inventories are 9% below the five-year average for this time of year, according to the EIA crude oil and petroleum weekly storage data,
