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Latest Oil & Gas News
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Crude Gains as Hormuz Blockade Persists
Traders remain cautious as ceasefire optimism clashes with severe supply constraints and global economic concerns.Trump List of Saved Projects Spares $5B Hydrogen Hubs
The Trump administration plans to preserve billions of dollars in funding for hydrogen ventures and other projects previously earmarked for termination.Chevron Expands Heavy Oil Footprint in Venezuela
In an asset swap, PDVSA agreed to sell a 13.21 percent stake in the Petroindependencia JV to Chevron, whose ownership would increase to 49 percent.USA Crude Oil Stocks Drop Almost 1MM Barrels WoW
Crude oil stocks, not including the SPR, stood at 463.8 million barrels on April 10, the EIA's latest weekly petroleum status report showed. -
Bessent Says USA Won't Renew Iranian, Russian Oil Waivers
Treasury Secretary Scott Bessent reaffirmed that the U.S. would not renew general licenses that allowed for the temporary sale of certain Russian and Iranian crude.Iberdrola to Raise Italian Capacity to 400MW with CCE Acquisition
The Spanish company signed a deal to acquire a recently commissioned 42-MW solar plant in Lazio from Austria-headquartered CCE.TotalEnergies Discovers More Oil offshore Congo Brazzaville
'The Moho G discovery, together with the discovery previously made on the nearby Moho F structure, represents recoverable resources estimated at close to 100 million barrels'.Rystad Says Energy Repair Costs from War Could Hit $58B
'The scope of damage has expanded materially,' Rystad Energy warned. -
Aussie Refinery Reduces Production after Fire
Operator Viva expects the blaze at the Geelong refinery, which has a processing capacity of 120,000 bpd, to mainly reduce production for gasoline and aviation gasoline.Oil Prices Holding Firm
Oil prices are 'holding firm' today 'as the market digests a sharp pullback from war-driven panic levels', Naeem Aslam, Chief Investment Officer at Zaye Capital Markets, said.Pakistan Army Chief in Tehran to Push Renewed Talks
Pakistan's army chief landed in Tehran to a warm welcome from officials as he tries to help renew talks between the U.S. and Iran after the two sides failed to clinch a peace agreement in Islamabad.Oil Stabilizes on Supply, Diplomacy Mix
Oil prices held steady as US inventory draws offset ongoing geopolitical uncertainty in the Middle East. -
Gas Spending Jumps 16 Pct for BofA Customers Amid Iran War
Bank of America Corp. saw its customers' spending on gas soar 16 percent in March.Texas Petroleum Theft Task Force Holds Meeting
'More than 40 percent of oil and gas operators indicated that their operations have been impacted by theft in the past year', the RRC noted.Construction Begins for Transco Gas Pipeline Expansion
Williams broke ground for the Trump-backed Northeast Supply Enhancement project, which will expand the Transco natural gas pipeline system with a capacity addition of 400,000 dekatherms per day.Demand for Colombia LNG Shipments Set to Surge
Colombian power plants are preparing to ramp up liquefied natural gas imports ahead of an expected El Nino.
