February 5, 2026 – Oil & Gas 360

Lower oil prices drag ConocoPhillips Q4 profit below estimates

February 5, 2026

(Oil Price) – ConocoPhillips (NYSE: COP) booked lower-than-expected earnings for the fourth quarter as higher production was unable to offset the decline in oil prices. ConocoPhillips reported on Thursday fourth-quarter adjusted earnings of $1.3 billion, or $1.02 per share. That was nearly halved compared with adjusted earnings of $2.4 billion, or $1.98 per share, for the fourth quarter of 2024. The earnings for

U.S. power boom triggers global gas turbine shortage

February 5, 2026

(Oil Price) – The hyperscaler-driven surge in U.S. power demand is creating ripple effects in the global supply chain, with gas turbines becoming the most critical bottleneck to rolling out flexible baseload capacity to support accelerated load growth. Gas turbine makers report soaring backlogs and delivery times years after order placement, while analysts say the bottlenecks in power plant equipment effectively

VAALCO Energy to sell non-core Canadian assets for $35 million

February 5, 2026

(World Oil) – VAALCO Energy has agreed to sell its non-core producing properties in Canada for approximately CAD $35 million (about USD $25.6 million), as the company continues to streamline its portfolio and focus capital on higher-return upstream opportunities. The assets, which currently produce about 1,850 boed working interest, are expected to close within 30 days, subject to customary conditions. The transaction

From Ambition to Execution: How Europe’s Decarbonisation Agenda Performs on the Project Level

February 5, 2026

(Oil & Gas 360) – Europe positions itself as the global driver of the decarbonisation agenda. Ambitious targets, regulatory reform and large-scale public funding define the direction. Yet behind the strategy, project pipelines narrow, execution slows down and many initiatives struggle to progress beyond early development. The gap between ambition and delivery continues to widen, making execution-level insight increasingly relevant. At

Chevron Announces Senior Leadership Changes

February 5, 2026

(BOE Report) – HOUSTON–(BUSINESS WIRE)–Chevron Corporation (NYSE:CVX) today announced several senior leadership changes. Frank Mount, President, Corporate Business Development, will retire from Chevron in November 2026 after 33 years of service. Mount has led the company’s global business development activities since 2023. “Throughout his career, Frank has contributed significantly to the success of Chevron,” said Chevron Chairman and CEO Mike Wirth. “I’m

Texas anti-ESG law declared unconstitutional by US judge

February 5, 2026

(Investing) – A federal judge declared unconstitutional a 2021 Texas law restricting state investments in companies seeking to rely less on fossil fuels or boycott that industry. In a decision made public on Wednesday, U.S. District Judge Alan Albright said the law violated First Amendment free speech protections because it punished businesses for speaking about fossil fuels and associating with organizations that

Weekly Gas Storage: Inventories increase by 88 Bcf- oil and gas 360

Weekly Gas Storage: Inventories decrease by 360 Bcf

February 5, 2026

Natural Gas Inventories as of January 30, 2026 The EIA has released its natural gas inventory report, showing a net decrease of 360 Bcf as of January 30, 2026. Working gas in storage was 2,463 Bcf as of Friday, January 30, 2026, according to EIA estimates. This represents a net decrease of 360 Bcf from the previous week. Stocks were

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