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Latest Oil & Gas News
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Murphy Oil Avoids Gambling on Current Volatility
'During these uncertain times, our strategy is to stay anchored to what we control - disciplined capital allocation, safe and reliable operations and our long-cycle projects'.USA Crude Oil Stocks Drop by More Than 2MM Barrels WoW
Crude oil stocks, not including the SPR, stood at 457.2 million barrels on May 1, the EIA's latest weekly petroleum status report showed.USA Considers Tapping Oil Under Military Bases to Refill SPR
The reserve, created in the aftermath of the Arab oil embargo in the 1970s, is poised to reach its lowest level since 1982.EOG Profit Exceeds Expectations
EOG reported $1.83 billion in net income adjusted for nonrecurring items for the first quarter, up quarter-on-quarter and year-on-year on the back of higher crude and condensate production. -
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.
