Oil & Gas Industry News

Canada's oil sands industry reduced its emissions per barrel for the sixth straight year in 2023.

Oil rose as stronger than expected U.S. jobs data eased concerns about an economic slowdown that would crimp demand.

In its latest gasoline and diesel fuel update, the U.S. Energy Information Administration showed a declining price trend for U.S. regular gasoline and U.S. on-highway diesel fuel.

'I am very pleased to strengthen the energy partnership with the UK and our longstanding partner and customer Centrica,' Equinor President and CEO Anders Opedal said.

'These agreements represent progress against BP's strategy to grow long-term shareholder value', BP said.

Petronas, Malaysia's state-owned oil and gas company, will cut about 10 percent of its workforce in a firm-wide restructuring.

Oil rallied as signs the U.S.-China trade war may ease outweighed concerns about increased OPEC+ crude output.

Chevron's license allowing it to produce and export crude to the US ended in early April and the company was allowed until May 27 to wrap up work.

There have been two significant OPEC+ decisions in the past week, analysts at Standard Chartered Bank said.

Oil fell on signs Saudi Arabia wants another major production increase.