Closing Bell Story‎ Archives

U.S. in talks to take direct ownership of Venezuelan oil fields

August 27, 2026

(Oil Price) – The Trump administration is reportedly in active discussions with Venezuela’s interim government to acquire a direct U.S. ownership stake in key Venezuelan oil fields. According to senior U.S. officials cited by Axios, the talks involve equity stakes in a select group of high-yield fields containing approximately 90 billion barrels of proven crude—a transaction that would significantly alter Washington’s foreign

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

Weekly Gas Storage: Inventories increase by 15 Bcf

August 27, 2026

Natural Gas Inventories as of August 21, 2026 The EIA has released its natural gas inventory report, showing a net increase of 15 Bcf as of August 21, 2026. Working gas in storage was 3,184 Bcf as of Friday, August 21, 2026, according to EIA estimates. This represents a net increase of 15 Bcf from the previous week. Stocks were

Chinese state oil giant CNOOC sees potential for US-China energy cooperation

August 27, 2026

(BOE Report) – Chinese state-owned oil and gas major CNOOC sees potential for energy cooperation between China and the United States, its CEO said on Thursday, adding that the company would consider investments alongside U.S. partners in the future. * China was a buyer of U.S. oil and gas until Beijing imposed tariffs on the products during last year’s trade

Some oil companies to avoid ships on Iran blacklist, sources say

August 26, 2026

(BOE Report) – At least three Indian oil refiners and a global energy major plan to stop using vessels on Iran’s new blacklist, including for ship-to-ship transfers, due to security concerns, four sources with direct knowledge of the matter said this week. Tehran announced on Sunday a blacklist of 45 ships it said had broken its rules for crossing the

Enbridge to buy Salt Creek Midstream crude gathering assets for $600 million

August 26, 2026

(BOE Report) – Pipeline operator Enbridge said on Wednesday it would acquire Salt Creek Midstream’s crude oil gathering business for $600 million in cash, expanding its presence in the crude-rich Permian Basin. The Permian Basin, the largest oil-producing region in the United States, continues to attract investment in gathering systems and pipeline networks as companies work to transport crude volumes through export

SLB launches new artificial lift technologies for U.S. land operations

August 26, 2026

(World Oil) – SLB has launched two artificial lift technologies for U.S. land operations aimed at improving equipment life and production performance in mature and challenging well environments. The new technologies include Harbison-Fischer Deka diamond technology for rod pump barrels and the Synthetix hydraulic gas lift system. The systems address separate production challenges, including mechanical wear in rod-pumped wells and gas lift

Oil prices slide amid hopes for progress in Mideast diplomacy

August 26, 2026

(Investing) – Oil prices fell on Wednesday, extending declines from the prior session, as media reports pointed to progress in diplomatic efforts to halt hostilities in the Middle East and reopen the Strait of Hormuz. Brent crude futures, the global oil benchmark, had fallen 1.6% to $87.22 a barrel by 09:43 ET (13:43 GMT), while U.S. West Texas Intermediate crude futures had

Thank You for making the 31st EnerCom Denver – The Energy Investment Conference a Success

August 25, 2026

(Oil & Gas 360) – The 2026 EnerCom Denver – The Energy Investment Conference brought together energy executives, investors, industry leaders, sponsors, and emerging companies for several days of conversations about where the energy industry is today and, more importantly, where it is headed. We want to thank everyone who joined us and helped make EnerCom Denver 2026 a success.

Six months into Iran war, almost half of global oil flows from war zones

August 25, 2026

(Investing) – LONDON – Almost half the world’s oil comes from countries affected by conflict in 2026, Reuters calculations show, underscoring that current disruptions have eclipsed previous energy crises. Six months ago, U.S. and Israeli attacks on Iran triggered what has become the largest oil supply crisis on record, with no clear end in sight. At the same time, the

Equinor eyes major oil discovery offshore Namibia

August 25, 2026

(Oil Price) – Norway’s energy major Equinor hopes to make a “pretty big” oil discovery offshore Namibia, the global exploration hotspot it has just entered, a senior company official said on Tuesday. Equinor hopes that the Petroleum Exploration License 90 (PEL 90) offshore Namibia could hold a big discovery similar to those TotalEnergies and Galp have made in recent years in

bp awards Halliburton drilling services contract for Bumerangue appraisal

August 25, 2026

(World Oil) – bp has awarded Halliburton an integrated drilling services contract for the first appraisal campaign at the Bumerangue field offshore Brazil, as the operator moves to further evaluate its deepwater discovery. Under the contract, Halliburton will provide an integrated package of drilling and reservoir evaluation services aimed at supporting the appraisal program and improving operational efficiency. The scope will combine multiple Halliburton drilling and

Oil hits one-week low as investors shrug off US sanctions on Iran

August 25, 2026

(Investing) – Oil prices fell 3% to a one-week low on Tuesday as traders shrugged off the latest U.S. sanctions campaign against Iran, viewing economic pressure as posing less risk to oil supplies than a military escalation. Brent crude futures were down $2.75, or 2.98%, to $89.42 a barrel at 1219 GMT, while U.S. West Texas Intermediate crude was down $2.67, or 3.14%, at $82.34.

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