Oil & Gas Industry News

Oil prices rose slightly Friday but ended the week lower as traders balanced Russian sanctions against signs of global oversupply.

Commodity trader Gunvor Group has withdrawn its offer for the international assets of sanctioned Russian oil producer Lukoil PJSC.

The oil market appears 'torn', Standard Chartered Bank Energy Research Head Emily Ashford outlined in a report sent to Rigzone recently.

A tanker carrying crude from recently-sanctioned Rosneft PJSC has made a rare cargo transfer off Mumbai.

ScottishPower announced that it has launched a new scheme to help ex-servicemen and women move into long-term careers in the energy sector.

The UK 'could add thousands of jobs, retain economic value, and lead the world in energy with the right policies, collaborative action, and a focus on an integrated energy workforce', OEUK noted.

Oil prices extended declines after Saudi Arabia slashed prices, signaling doubts about global demand and supply balance.

Oil prices fell below $60 as mixed US inventory data reinforced oversupply concerns.

The Canadian government signaled it plans to eventually lift the controversial cap on emissions from the oil and gas sector.

HSBC Senior Global Oil and Gas Analyst Kim Fustier highlighted that the OPEC+ group hit the 'pause, not stop button' at its latest meeting.