February 26, 2026 - Oil & Gas 360

Exclusive-Trump EPA to shift at least half of waived biofuel obligations to big refiners, sources say

February 26, 2026

(Investing) – ORLANDO, Florida- The Trump administration has settled on a plan that would require big oil refineries to make up for at least half of the biofuel blending volumes obligations waived in recent years under the Small Refinery Exemption program, according to three sources familiar with the discussions. The decision could be unwelcome news for larger oil refiners that have

EU pushes harder on Russian oil as Moscow fires back- oil and gas 360

EU pushes harder on Russian oil as Moscow fires back: Oil & Gas 360

February 26, 2026

(By Oil & Gas 360) – The European Union is weighing a plan to permanently ban Russian oil imports and to impose a full ban on providing shipping and related services for Russian oil, escalating its efforts to tighten pressure on Moscow. But turning that proposal into reality would likely require coordination beyond Brussels, including backing from G7 partners that play

Aramco starts up Jafurah, eyes 80% gas capacity growth by 2030

February 26, 2026

(World Oil) – Aramco has marked two major milestones in its gas expansion strategy with the start of unconventional production at the Jafurah field and the commissioning of the Tanajib Gas Plant, reinforcing its target to significantly expand Saudi Arabia’s gas production capacity by 2030. The company confirmed that first shale gas production from Jafurah began in December 2025. Located across approximately 17,000 sq

$5 billion pipeline deal could be coming to the Gulf Coast

February 26, 2026

(Oil Price) – Texas-based EnCap Flatrock Midstream is considering a sale of gas pipeline operator Momentum Midstream in a deal that could fetch $5 billion. According to a Bloomberg report citing unnamed sources, the venture capital firm is currently talking with financial advisers to find a buyer. The sources noted that talks are in their early stages and EnCap Flatrock Midstream may

bp ramps up shale drilling, targets 650,000 boed output by 2030

February 26, 2026

(World Oil) – bp Plc is aggressively expanding shale drilling, bucking the conservative approach of many rivals, as the UK oil giant seeks to reverse years of anemic output. The company’s BPX Energy unit plans to increase production from shale fields by 8% this year, BPX Chief Executive Officer Kyle Koontz said during an interview in Houston. Shale output equivalent to 500,000 bpd would make

US offers largest ever energy loan with $26.5 billion to Southern Co

February 26, 2026

(BOE Report) – The U.S. Energy Department has offered a $26.54 billion loan to subsidiaries of Southern Co to increase grid reliability, the largest ever such financing by its loan office, the department said on Wednesday. The loans will save power customers in Georgia and Alabama more than $7 billion, the department said, without detailing how. Southern said last year

Exclusive-US slows sale of Lukoil assets to pressure Russia in Ukraine peace talks

February 26, 2026

(Investing) – WASHINGTON – The United States has slowed the sale of Russian oil giant Lukoil’s international assets to pressure Russia in the Ukraine peace talks, according to four sources familiar with the discussions. On Thursday, the U.S. Office of Foreign Assets Control will extend the February 28 deadline to April 1 for deals to be concluded, an OFAC document reviewed

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

Weekly Gas Storage: Inventories decrease by 52 Bcf

February 26, 2026

Natural Gas Inventories as of February 20, 2026 The EIA has released its natural gas inventory report, showing a net decrease of 52 Bcf as of February 20, 2026. Working gas in storage was 2,018 Bcf as of Friday, February 20, 2026, according to EIA estimates. This represents a net decrease of 52 Bcf from the previous week. Stocks were

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