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Latest Oil & Gas News
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Shell Profit Soars as Volatility Boosts Trading
Adjusted net income rose to $6.92 billion, beating the $6.1 billion median estimate of analysts compiled by Bloomberg.Iran War Boosts Russia April Oil Tax Revenue to 6 Month High
Russia's oil tax revenues jumped to a six-month high last month as the Kremlin started reaping the benefits of a crude rally driven by the war in Iran.Oil Sinks on Iran Peace Proposal
Oil and gas prices plunged as traders weighed a potential US-Iran peace agreement.Shell, INEOS Plan More Joint Tiebacks in US Gulf
'INEOS is acquiring a 21 percent working interest for an undisclosed amount, consistent with its ownership in Appomattox, Rydberg, the recent Nashville discovery and the Mattox pipeline'. -
ADNOC Announces $55B in New Project Awards
ADNOC stated that it is 'accelerating growth and delivery of its strategy' with AED 200 billion ($55 billion) in new project awards for 2026-2028.Shipowners Stay Cautious on Hormuz Despite Peace Deal Hopes
Shipping companies remain cautious about sending vessels through the Strait of Hormuz.ADB Targets $70B for Asian Power Grid Integration, Data Centers
The multilateral lender aims to mobilize $50 billion in financing to help Asia-Pacific countries build cross-border electricity grids and an additional $20 billion to support data center growth in the region.Gas Trading Boosts Equinor Profit
Equinor optimized piped gas trading in Europe and gas trading in North America to capture volatility. -
Macquarie Strategists Expect Another USA Crude Inventory Draw
Macquarie strategists, including Walt Chancellor, outlined that they expect another U.S. crude inventory draw 'amidst elevated exports'.Australia to Build Up 1B-Liter Fuel Reserve
Australia will establish a government-owned reserve of about 1 billion liters of diesel and aviation fuel.Trump Pauses Project Freedom for 'Short Period'
'Project Freedom (The Movement of Ships through the Strait of Hormuz) will be paused for a short period of time', U.S. President Donald Trump said.US Pauses Plan to Aid Ships through Hormuz while Seeking Deal
Trump said he would pause an effort to help stranded ships exit the Strait of Hormuz to see if the U.S. can reach an agreement with Iran to end the war. -
Lagarde Urges Europe to Reduce Energy Import Dependency
European Central Bank President Christine Lagarde said soaring energy costs due to the Iran war should act as a wake-up call for Europe.Oil Falls as Ceasefire Holds
Crude markets entered relief mode as tensions failed to escalate further.USA Says Iran Ceasefire Still in Place
The U.S. played down the prospect of a return to active war with Iran.ConocoPhillips Beats Profit Estimates for Q1
By year-on-year comparison, lower costs softened the impact of lower volumes and lower Permian gas prices.
