(Oil Price) – Venezuela’s oil sales, under the control of the United States for five weeks now, are set to bring $5 billion over the next few months, U.S. Energy Secretary Chris Wright told NBC News in an interview. “Sales today are over a billion dollars, and in fact, we have sort of short-term agreements over the next few months that will bring
This week’s Baker Hughes Rig Count shows that the U.S. had no change last week, resulting in a total count of 551 rigs. Canada had a decrease of 6 over last week, resulting in a total Canadian count of 222 rigs. Breakdown by region Of the regions tracked by Baker Hughes, the Marcellus region experienced an increase this week. Meanwhile,
(World Oil) – JERA Co., Inc., through its subsidiary JERA Americas Inc., has completed its previously announced acquisition of upstream natural gas assets in the Haynesville shale of western Louisiana, expanding the company’s U.S. upstream and LNG-linked portfolio. The transaction gives JERA full ownership of the South Mansfield upstream asset, acquired from Williams and GeoSouthern Energy affiliates for an upfront investment of approximately $1.5 billion. The Haynesville
(Oil Price) – Canadian pipeline giant Enbridge reported record-high core earnings for 2025 and consensus-beating earnings for the fourth quarter amid growing demand for oil and gas egress from production centers to consumption and export hubs. Enbridge on Friday reported full-year adjusted earnings before interest, income taxes and depreciation and amortization (EBITDA) of US$14.7 billion (C$20.0 billion) for 2025, up by 7%
(BOE Report) – The U.S. eased sanctions on Venezuela’s energy sector on Friday, issuing two general licenses that allow global energy companies to resume oil and gas operations in the OPEC member and for other companies to negotiate contracts on investments in new energy operations. The Treasury Department’s Office of Foreign Assets Control issued a general license allowing Chevron, BP, Eni, Shell and Repsol to
(World Oil) – Halliburton has introduced a new injection system designed to support carbon capture, utilization and storage (CCUS) operations, as operators seek improved reliability and performance in CO₂ injection wells. The XTR™ CS injection system is a wireline-retrievable safety valve engineered for use in CCUS wells, where high pressures, temperatures and corrosive conditions can present operational challenges. The system can function as a
(Investing) – LONDON – Oil prices steadied on Friday after U.S. inflation data, recovering from an earlier dip on news that OPEC+ is leaning towards a resumption in production increases. Brent crude futures gained 9 cents, or 0.13%, to $67.61 a barrel by 1424 GMT. U.S. West Texas Intermediate crude was unchanged from the previous close at $62.84 at the same time. Both oil
