(World Oil)– ConocoPhillips raised its total spending plans for the Willow oil and natural gas project in Alaska to as much as $9 billion, citing inflation and other rising costs. The Houston oil giant, which initially estimated that its spending on the North Slope project was in the range of $7 billion to $7.5 billion, now expects oil production there
(Oil Price)– ExxonMobil is expanding its exploration portfolio offshore Greece with a new farm-in agreement for a block in the northwestern Ionian Sea. ExxonMobil, Energean, and Helleniq Energy have reached a farm-in agreement under which the U.S. supermajor will buy 60% in the Block 2 concession in the northwestern Ionian Sea, next to the Italian Exclusive Economic Zone (EEZ), Energean said on
(Oil Price)– Financing and deals with oil and gas companies will have a materially lower share in the energy portfolio of HSBC as new energy opportunities arise, the banking giant’s chief sustainability officer, Julian Wentzel, told Bloomberg in an interview on Thursday. The UK-based banking group unveiled today its updated Net Zero Transition Plan, in which it eased the interim emissions targets
(World Oil)– Aker Solutions has secured a five-year brownfield services contract extension from ExxonMobil Canada Properties, as operator of the Hebron platform offshore Newfoundland and Labrador. The agreement covers continued maintenance and modification (M&M) services and will be booked as an order intake in the fourth quarter of 2025 under the company’s Life Cycle segment. Hebron offshore platform The brownfield
(Oil Price)– Nigeria has lost $300 billion to oil theft, auditors appointed by the Nigerian parliament said this week. The oil was sold illegally both at home and abroad, the Senate committee tasked with investigating oil theft losses said, as cited by Nigerian media. “The ad hoc committee should be given the mandate to track, trace, and recover all proceeds
(Investing)– Oil prices rose Thursday, rebounding after logging sharp losses in recent sessions as expectations of a supply glut and softening demand presented a weak outlook for crude. At 04:45 ET (09:45 GMT), Brent oil futures for January rose 0.7% to $63.98 a barrel and West Texas Intermediate crude futures gained 0.9% to $60.15 a barrel. Both contracts slid some 1% each on Wednesday,
(Investing)– U.S. President Donald Trump will host the leaders of five Central Asian nations at the White House on Thursday as the U.S. seeks to gain influence in a region long dominated by Russia and increasingly courted by China. The talks take place amid intensifying competition for Central Asia’s vast mineral resources. Western nations are seeking to diversify supply chains
Natural Gas Inventories as of October 31, 2025 The EIA has released its natural gas inventory report, showing a net increase of 33 Bcf as of October 31, 2025. Working gas in storage was 3,915 Bcf as of Friday, October 31, 2025, according to EIA estimates. This represents a net increase of 33 Bcf from the previous week. Stocks were
