The latest oil and gas news from around the world.
Updated: 58 min 57 sec ago
Germany Wants to Stop More Oil Refinery Closures
Germany said it will seek to stem the loss of oil refining capacity.
Brent Tops $116 as Middle East Risks Grow
Oil prices climbed as escalating attacks on Saudi Arabia heightened fears of Middle East supply disruptions.
Physical Oil Prices Drop in Mideast
The physical prices of some Middle East crudes sold outside the Persian Gulf have dropped.
EU Diesel, Jet Fuel Supplies Remain Tight
However, the European Commission assured there was 'currently no physical shortage of these products in Europe'.
SLB Sees Growth Driven by ME Oil Field Recovery
SLB, formerly known as Schlumberger, is seen as a bellwether for oil and gas companies.
Norway Gas Production Hits Lowest Level This Year
Norway produced over 10.5 billion cubic feet per day of natural gas in September, its lowest monthly figure this year, according to preliminary official data.
DOE Advancing Constitution Pipeline to 'Strengthen Security'
'The Trump administration is advancing the long-delayed natural gas pipeline to strengthen America's energy security', the DOE said.
Eni Further Boosts Shareholder Returns
The payout bump-up is underpinned by a strong cash flow outlook as production and prices increased year-on-year.
Global Crude Freight Rate Surges
The global average crude freight rate surged above $20 per barrel, from $3 per barrel a year ago, analysts at Goldman Sachs said.
EU Diesel, Jet Supplies Remain Tight
However, the European Commission assured there was 'currently no physical shortage of these products in Europe'.
Shell, ExxonMobil Said to Put Chemicals JV Up for Sale
The sale may attract interest from private equity suitors, and the oil companies are aiming for a deal that values the unit at about $8 billion, according to the Financial Times.
Oil Hits $114 Intraday
The price of Brent crude oil reached $114 per barrel intraday on Friday.
China's Petrochemicals Glut Turns to Crunch
China has burned through much of a petrochemicals glut built up by years of overproduction as the U.S.-Iran war chokes oil flows.
Oil Surges 4% After Deadly Saudi Attacks
Brent climbed above $113 amid Saudi attacks and renewed Iran tensions, while global diesel supplies remained tight.
USA Crude Oil Stocks Drop 3MM Barrels WoW
Commercial crude oil stocks, not including the SPR, came in at 412.517 million barrels on October 16, the EIA's latest weekly petroleum status report showed.
Saudi Aramco Evacuates HQ
The kingdom is on alert after a flurry of attacks from Yemen's Houthis in recent weeks.
Tamboran CEO Abbott Takes on Dual Role as Managing Director
The new appointment 'formalizes his executive leadership at the board level as the company moves from the appraisal phase into development', the early-stage natural gas exploration and production company said.
Eni CCS Project in Italy Wins EU Funding
The Ravenna carbon capture and storage project on Italy's side of the Adriatic Sea is among 12 'large-scale' projects the European Commission selected for the Innovation Fund call issued last December.
Santos Logs 49 Percent Quarter on Quarter Increase in Revenue
Santos reported around $2 billion in third-quarter sales revenue, up 49 percent from the prior three-month period as sales volumes increased 11 percent to 26.4 million barrels of oil equivalent.
Oil Rises Intraday Amid Escalating Tensions
Mahmoud Mashal, Senior Market Analyst at VT Markets Dubai, highlighted that both WTI and Brent oil prices were rising intraday 'as escalating tensions in the Middle East revived concerns over Gulf supply'.
