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Latest Oil & Gas News
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Which USA Oil Major Produced the Most in 1Q 2026?
Which U.S. oil major produced the most in the first quarter of 2026 - ExxonMobil, Chevron, or ConocoPhillips?Aker BP Posts Higher Profit
An increase in liquids prices quarter-on-quarter and year-on-year offset a decrease in liquids and gas sales volumes.Eni Confirms Size of 'Giant' Gas Discovery offshore Indonesia
A drill stem test confirmed the preliminary assessment of about 5 trillion cubic feet of natural gas and 300 million barrels of condensate in the Geliga-1 discovery in the Kutei Basin.Physical Oil Market Does Not Run on Political Timelines
Rystad Energy Chief Oil Analyst Paola Rodriguez-Masiu warned that the physical market 'does not run on political timelines'. -
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.Iran Sets Out Process for Hormuz Transit, Shipowners Wary
Iran has laid out an updated process for ships seeking to transit Hormuz, but several shipowners said they remained cautious about sending their vessels through until there are more details.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.
