(World Oil) – Drillers in Canada’s energy heartland of Alberta are shifting their focus to natural gas as the global trade war and an OPEC+ plan to increase output hammer crude prices. The number of licenses for new gas wells issued in the first quarter rose 26% from the previous quarter to 308, the highest quarterly total in two years,
(Oil Price) – BP (NYSE: BP) is reducing by $1 billion its quarterly share buyback program after reporting weaker-than-expected earnings, significantly lower cash flow, and rising net debt for the first quarter. The UK-based supermajor, which has been under intense pressure from activist investor Elliott to cut costs and boost share performance, reported today an underlying replacement cost (RC) profit – the closest metric to
(Investing) – NEW YORK – Oil prices fell about 2% to a two-week low on Tuesday on expectations OPEC+ will boost output even as U.S. President Donald Trump’s on-again off-again trade tariffs could reduce global economic growth and demand for the fuel. Brent crude futures fell by $1.41, or 2.1%, to $64.45 per barrel by 11:03 a.m. EDT (1503 GMT), while
(Oil & Gas 360) Opal Coalbank consists of nine DUC wells on track for production this summer Previously announced drilling of Rusch Pad ahead of schedule Recently announced strategic hedging program “in the money” by ~$70 million HOUSTON, TX, April 28, 2025 (GLOBE NEWSWIRE) — Prairie Operating Co. (Nasdaq: PROP) (the “Company” or “Prairie”) – an independent energy company engaged
(World Oil) – APA Corporation and its partners Lagniappe Alaska, LLC, an Armstrong company, and Oil Search (Alaska), LLC, a subsidiary of Santos Limited, have completed successful flow testing of the Sockeye-2 exploratory well in Alaska’s North Slope. Apache holds a 50% working interest, operator Lagniappe and partner Santos each hold 25% working interests in the 325,411-acre exploratory block. As
(Oil Price) – After years of watching Europe’s Big Oil commit growing shares of capex to low-carbon energy solutions, U.S. supermajor Exxon is now set to overtake Shell and BP in investments planned for low-emission projects. Exxon’s pledge largely depends on the Trump Administration not repealing key provisions in Biden’s flagship Inflation Reduction Act of 2022, which offered incentives to companies
(World Oil) – Enverus Intelligence Research (EIR), a subsidiary of Enverus, is releasing its summary of 1Q2025 upstream M&A activity and outlook for the rest of the year. The M&A summary follows Enverus’ release of Investor Analytics, a new cutting-edge solution designed to offer investors a comprehensive view of key market dynamics. Upstream M&A opened 2025 with $17 billion
( Oil & Gas 360) – The Petrochemical and Refining Congress: Europe 2025 unites industry leaders in Milan on 19-20 May to address technological advancements: circular economy principles, low-carbon hydrogen ecosystem, energy transition and innovations in sustainable fuels. Supported by Regional Partners Technip Energies, Sonatrach Raffineria Italiana S.r.l., Wood and Saras S.p.A., the event facilitates strategic discussions on reshaping the downstream
(BOE Report) – U.S. liquefied natural gas supplies to Europe will continue to rise, U.S. Energy Secretary Chris Wright told Reuters on Monday during a visit to the Polish capital Warsaw. The United States is the world’s largest exporter of LNG and has played a major role in supplying Europe since Russia’s full-scale invasion of Ukraine in 2022 significantly reduced
(Investing) – LONDON – Oil prices were stable on Monday as investors weighed up uncertainty over trade talks between the U.S. and China, clouding the outlook for global growth and fuel demand, as well as the prospect of OPEC+ raising supply. Brent crude futures were down 15 cents, or 0.22%, at $66.72 a barrel, as of 1204 GMT. U.S. West Texas Intermediate
(Oil & Gas 360) – HOUSTON, April 25, 2025 (GLOBE NEWSWIRE) — Amplify Energy Corp. (NYSE: AMPY) (“Amplify” or the “Company”) announced today that the Company and Juniper Capital Advisors, L.P. (“Juniper”) have entered into a mutual termination agreement (“Termination Agreement”) to terminate (the “Termination”) the previously announced Agreement and Plan of Merger (the “Merger Agreement”) in light of the
(World Oil) – Vitol Group has stepped up oil purchases in Venezuela in the final weeks of a U.S. license that allows the world’s largest independent oil trader to do business in the sanctioned nation. Vitol is set to load at least 2.5 million barrels of Venezuelan oil this month, according to documents seen by Bloomberg. It has more than
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