Oil & Gas Industry News

Energy companies heading to Venezuela are being told to bring their own power plants to run their oil and natural gas operations.

Oil prices climbed as US-Iran tensions escalated and peace talks stalled.

Enverus revealed that it has teamed up with Continental Resources, BPX Energy, Chord Energy, and Ranger Energy Services to introduce LifeSaver, 'a field safety initiative'.

'Market pessimism once again grows over the prospects of a U.S.-Iran deal that could pave the way for a reopening of the Strait of Hormuz', Ole S. Hansen, Head of Commodity Strategy at Saxo Bank, said.

Oil prices rose as doubts emerged over a US-Iran peace agreement.

Consultants and analysts gathered at OPEC's Vienna headquarters for a technical meeting on Monday.

North America added 28 rigs week on week, according to Baker Hughes' latest North America rotary rig count.

'Globally, we track demand losses of 2.8 million barrels per day in March, 4.3 million barrels per day in April, and 5.6 million barrels per day in May', J.P. Morgan analysts said.

'We hear and read conflicting statements and headlines around the clock regarding negotiations between the United States and Iran to end this war', Samer Hasn, a Senior Market Analyst at XS.com, said.

Brent and WTI rallied after reports Iran may halt US negotiations.