The latest oil and gas news from around the world.
Updated: 36 min 3 sec ago
The Oil Prices You See Do Not Tell Market's Real Story
There's an ever-growing gap between the price of oil futures and supplies that determine costs for consumers in the real world.
Fire Hits Oil Production at Major Libyan Field
The National Oil Corp said a leak-induced blaze that hit the Sharara crude pipeline had cut about half of production at the field, one of Libya's biggest with a declared capacity of 330,000 bpd.
Iran, Trump Exchange Threats over Hormuz
The U.S. president gave Iran a two-day deadline to reopen the Strait of Hormuz or have its power plants bombed.
Petrobras Discovers More Gas offshore Colombia
The new discovery in Block GUA-OFF-0 'consolidates the gas province and the gas potential in the Colombian offshore', Petrobras said.
Australia Weighs LNG Windfall Tax
Prime Minister Anthony Albanese has asked Australia's Treasury to look into imposing a windfall tax on the country's vast liquefied natural gas industry.
Oil Surges as Iran War Escalates
Oil surged to multi-year highs as the Iran conflict disrupts global supply.
IEA Says WFH To Help Combat Oil Price Shock
Oil futures have surged around 50 percent in London this month.
Texas Leads Nation in Oil, Gas Jobs
Texas 'led the nation' in oil and gas jobs last year with 476,777 people employed in the industry, according to TIPRO's latest state of energy report.
California's Gas Watchdog Warns of Gouging
California's energy regulator is keeping a close watch on the state's gasoline market for potential price gouging.
Norway Gas Production Down in February
Norway produced nearly 13 billion cubic feet a day of natural gas in February, down month-on-month and year-on-year.
USA Crude Oil Stocks Rise More Than 6MM Barrels WoW
Crude oil stocks, not including the SPR, stood at 449.3 million barrels on March 13, the EIA's latest weekly petroleum status report showed.
ADNOC, OMV Tweak Investment Plans for Polyolefins JV
'Considering the current market environment, OMV and ADNOC have agreed to strengthen the balance sheet of Borouge Group International AG as a precautionary measure'.
World Leaders Condemn 'De Facto' Hormuz Closure
The leaders expressed their readiness to contribute to 'appropriate efforts to ensure safe passage through the Strait'.
IEA Oil Release Set to Exceed Agreed Volume
Members of the G7 club of rich countries lead commitments, which currently total 426 million barrels.
Israel Says It Will Spare Iran Energy Sites
Netanyahu also said Israeli forces would help the U.S. attempt to reopen the Strait of Hormuz and that the war would be over faster than people think, in comments that helped calm markets.
Gulf Attacks Drive Oil Volatility
Oil prices rose amid attacks on key Gulf energy infrastructure, with LNG disruptions amplifying supply concerns.
Several Oil, Gas Assets Damaged in Iran War
Over the past three weeks, dozens of refineries, oil fields, gas plants, ports and other energy infrastructure have been damaged by missile and drone strikes in the Arabian Gulf.
Eni Plans to Raise Shareholder Returns
Eni has bumped up the upper range of its shareholder distributions from 35-40 percent of cash flow from operations to 35-45 percent as part of its updated plan (2026-30).
Higher Oil Prices Lead to More USA Production in EIA Forecast
The EIA noted in its latest STEO that 'higher crude oil prices lead to more U.S. crude oil production' in its forecast.
USA Crude Is Lagging Behind
Benchmark oil prices are soaring as war in the Middle East disrupts crude flows, but the advance is also sparking the biggest discount for U.S. crude in more than a decade.
