Oil & Gas Industry News

Crude oil stocks in the U.S., not including the SPR, stood at 453.6 million barrels on April 19, according to the EIA.

Traders are getting agitated again.

'Following last year's blockbuster $192 billion in U.S. upstream consolidation, 1Q24 would be on track to surpass that record with $51 billion in announced deals,' EIR noted.

'We are all aware of the human and economic cost of war, but ... there is also price to pay for the climate,' Xeneta said.

Oil fluctuated as traders weighed a larger-than-anticipated drop in US crude stockpiles against broader risk-off sentiment.

'Iran is likely to intensify its operations in more easily controlled territory, such as the Strait of Hormuz,' Dryad said.

The merger is expected to potentially give Eni a leading position in the UK continental shelf.

Oil gained as the prospect of looser monetary policy countered a decreasing premium for geopolitical risk.

'It again becomes illegal for U.S.-based companies to deal in Venezuelan oil,' Rystad notes.

Legislation pushing Joe Biden to ratchet up sanctions on Iranian crude oil is on track to become law as soon as this week.

SapuraOMV's main assets are its 40 percent operated interest in block SK408 and 30 percent operated interest in block SK310, both located offshore Sarawak in Malaysia.

'Regarding the threat, we have seen the landscape worsen considerably,' the Chertoff Group warned.

North America dropped 12 rigs week on week, according to Baker Hughes.

Oil inched lower on limited fresh signs of escalating conflict in the Middle East, but prices hovered above monthly lows as technical support limited losses.

'We're integrating AI as we speak,' one recruitment company told Rigzone.

J.P. Morgan, S&P Global Commodity Insights, and Rystad Energy share their latest views.

NEO Energy Production UK Limited has been fined $123,674.

The fire is one of two out-of-control blazes in Alberta, home to the Canadian oil sands.

The Biden administration on Friday finalized a plan to prevent oil development across more than half of the U.S. government's mammoth petroleum reserve in Alaska.

Oil eked out a meager gain after Iranian media appeared to downplay the effect of Israeli strikes, lowering the geopolitical risk premium for crude.