(World Oil) – The Trump administration rescinded restrictions on oil drilling in Alaska’s mammoth state petroleum reserve, reversing a move by former President Joe Biden that put limits on an area holding an estimated 8.7 billion barrels. The policy reversal finalized Thursday applies to a 2024 rule that banned drilling on nearly half of the 23 million-acre National Petroleum Reserve-Alaska,
(Investing) – NEW YORK -Activist investment firm Kimmeridge Energy Management has taken a stake in U.S. shale producer Devon Energy, according to a stock market filing released on Friday. THE DETAILS Kimmeridge owned 5.66 million shares in Devon as of the end of September, the filing said. That would equate to an approximately 0.9% stake in Devon, according to Reuters calculations, and make
(World Oil) – Frontera Energy Corp. plans to separate its Colombian infrastructure assets into a new independent company—Frontera Infrastructure—leaving Frontera Exploration & Production (E&P) as a focused, pure-play upstream operator. The restructuring, announced Nov. 13, is designed to unlock value from Frontera’s portfolio and sharpen the company’s competitive position in the oil and gas sector. The transaction is expected to close
(Oil Price) – Iran seized on Friday an oil tanker en route to Singapore after it passed the critical Strait of Hormuz in the Middle East in the first major escalation of the tensions in the region since the Iran-Israel war in June. The Marshall Islands-flagged oil tanker Talara was seized by Iranian forces in the Gulf of Oman after having
(World Oil) – Abu Dhabi National Oil Co. won conditional European Union approval for its €12 billion ($13.9 billion) takeover of Covestro AG after it dealt with EU concerns that its state subsidies could stifle competition. The European Commission said Friday that an offer from ADNOC to maintain Covestro’s intellectual property in Europe as well as concessions on the company’s unlimited state guarantee from the UAE settled its earlier
This week’s Baker Hughes Rig Count shows that the U.S. increased by 1 last week, resulting in a total count of 549 rigs. Canada had a decrease of 3 over last week, resulting in a total Canadian count of 188 rigs. Breakdown by region Of the regions tracked by Baker Hughes, the Permian region experienced an increase this week. Meanwhile,
(BOE Report) – Saudi Aramco is set to sign two U.S. liquefied natural gas supply deals with Woodside Energy and Commonwealth LNG when Saudi Arabia’s Crown Prince Mohammed bin Salman visits Washington next week, sources familiar with the matter told Reuters. The world’s largest oil exporter, Saudi Aramco, wants to become a major liquefied natural gas player, especially in the United
(Investing) – LONDON -Oil prices climbed nearly 2% on Friday, boosted by supply fears after the Black Sea port of Novorossiisk halted oil exports following a Ukrainian drone attack that hit an oil depot in the major Russian energy hub. Brent crude futures were up $1.04, or 1.65%, at $64.05 a barrel by 1428 GMT, while U.S. West Texas Intermediate crude advanced
Natural Gas Inventories as of November 7, 2025 The EIA has released its natural gas inventory report, showing a net increase of 45 Bcf as of November 7, 2025. Working gas in storage was 3,960 Bcf as of Friday, November 7, 2025, according to EIA estimates. This represents a net increase of 45 Bcf from the previous week. Stocks were
