Rigzone Oil News

North America Adds 21 Rigs Week on Week

North America added 21 rigs week on week, according to Baker Hughes' latest North America rotary rig count.

middle-east · usa · india

India Raises Diesel, Gasoline Prices for 4th Time in May

India's state-run fuel retailers raised gasoline and diesel prices for the fourth time in 10 days in response to disruptions in global energy markets.

middle-east · usa · israel

Chevron's Leviathan Partners to Supply Gas to Dalia Power Plants in Israel

The 20-year contract, which excludes the U.S. energy giant, initially involves up to about 1.3 billion cubic meters.

middle-east · usa · europe

OEUK Holds Emergency Talks with Industry Leaders

'The government must support our own producers, industries, and workers', OEUK Chief Executive David Whitehouse said.

Analysts Explain Oil Price Drop

'On late Saturday, there seemed to have been a breakthrough in the U.S.-Iran war', Gaik June Goh, a senior oil market analyst at Sparta Commodities, said.

ENI sichert LNG-Abnahmeabkommen für Indonesien-Projekte

Die Verträge für Flüssigerdgas, das mit Einsatzgas aus den Projekten North Hub und South Hub gewonnen wird, belaufen sich auf rund 2 Millionen Tonnen pro Jahr.

middle-east · usa · germany

Uniper nimmt Dividendenzahlungen wieder auf

Die Uniper-Aktionäre genehmigten eine Dividende von 0,72 EUR (0,84 $) je Aktie für 2025, die erste Dividendenzahlung des Strom- und Gasversorgers seit seiner Rettung durch die Bundesregierung Ende 2022.

middle-east · usa · russia

Gazprom nimmt Produktion auf den Chona-Feldern in Ostsibirien auf

Das russische staatlich kontrollierte Unternehmen erwartet, dass das Projekt bis zu 2 Millionen Tonnen Öl pro Jahr in das Pipelinesystem Ostsibirien-Pazifik einspeisen wird.

Qatar Quietly Ships LNG via Hormuz to Key Buyers

Three tankers loaded with liquefied natural gas appear to have crossed the Strait of Hormuz in recent days, as suppliers in Qatar and the UAE attempt to get fuel out to key buyers despite the near-total closure of the waterway.

Rigzone Oil Newsvor 47 d24.05.

Worley Bags 3-Year Engineering Contract from APA

'Under an exclusive three-year engineering partnership, Worley will work with APA to deliver its phased and scalable infrastructure development program aimed at reducing constraints, increasing optionality and improving system flexibility'.

Rigzone Oil Newsvor 48 d23.05.

NYSE Owner, OKX to Launch Perpetual Futures Tied to Oil

Intercontinental Exchange Inc is working with OKX to launch oil futures contracts that never expire.

Rigzone Oil Newsvor 48 d22.05.

Ukraine Says It Targeted Yaroslavl Oil Refinery Again

Ukrainian forces used long-range drones against Russia's oil-processing and export facilities, in particular the Yaroslavl refinery on Thursday night, Zelenskyy said in a Telegram statement.

middle-east · usa · russia

Rigzone Oil Newsvor 48 d22.05.

Oil Swings on Iran Peace Hopes

Energy markets remain volatile as Iran negotiations and supply risks continue.

middle-east · usa · europe

USA Crude Oil Stocks Drop Almost 8MM Barrels WoW

Crude oil stocks, not including the SPR, stood at 445.0 million barrels on May 15, according to the EIA's latest weekly petroleum status report.

UK to Close Oil Tax Loophole

Chancellor of the Exchequer Rachel Reeves said the UK is closing a tax loophole on oil and gas companies.

middle-east · usa · uk

ExxonMobil, QatarEnergy Eye Egypt Facilities for Potential Cyprus Gas

Exxon Mobil and QatarEnergy signed an MoU with Egypt to assess the potential of developing natural gas discoveries in Cyprus through the North African country's existing infrastructure.

EIR Says Qatari LNG Outage Will Shift Gas Market to Deficit

Enverus Intelligence Research outlined that the Qatari LNG outage will shift the global gas market into a structural deficit.

Oil Exerts Influence Well Beyond Energy Market

Oil continues to exert an influence well beyond the energy market itself, Ole Hansen, Saxo Bank's Head of Commodity Strategy, said.

Ithaca Completes Acquisition in Shell Discovery, Farms Down Fotla

The UK producer completed the purchase of a 50 percent stake in two Shell licenses in the West of Shetland Basin, while entering into an agreement to sell part of its ownership in the Fotla project in the North Sea to Harbour Energy.

middle-east · usa · uk

middle-east · usa · norway

Equinor, Aker BP Agree Stakes Swap in North Sea, Barents Sea

'The parties will seek alignment on key areas of joint interest on the Norwegian continental shelf, with the aim of speeding up the development of resources to uphold high production levels and unlock value'.

First Oil Tanker to Exit Hormuz since War Expected in Japan

Japan - one of Asia's biggest importers of energy from the Middle East - flagged the impending arrival of the first Persian Gulf oil shipment to transit the contested Strait of Hormuz since the Iran war began.

Rigzone Oil Newsvor 49 d21.05.

Conoco Says Venezuela Bid to Woo Oil Firms Falls Short

The head of ConocoPhillips said Venezuela's initial steps to attract foreign oil companies that could help revive the nation's production are falling well short.

Rigzone Oil Newsvor 49 d21.05.

Crude Closes Down for Third Day

Crude settled lower amid hopes for a Strait of Hormuz reopening.

Oil Near $100 Seen as Base Case for 2026

Oil market participants are increasingly pricing crude to be capped near $100 a barrel over the next year.

USA EIA Reveals Latest USA Diesel Price Forecast for 2026

A quarterly breakdown included in the EIA's May STEO projected that the on-highway diesel fuel price will average $5.36 per gallon in the second quarter of this year.

BP Enters 3 New Indonesian Blocks

Two of the exploration blocks sit near the BP-operated Tangguh LNG in Papua Barat province, presenting 'potential for short-cycle development', BP said.

middle-east · usa · india

Naftogaz Wins Foreign Court Order to Enforce $1.4B Claims against Gazprom

The Astana International Financial Center Court - not part of Kazakhstan's judicial system - allowed Naftogaz to enforce a $1.4-billion international arbitration award against Gazprom in the country.

What Happens to Oil if Iran Permanently Taxes Hormuz Traffic?

What would the implications be for the oil market if Iran decided to permanently tax/toll traffic through the Strait of Hormuz?

Wood Mackenzie Warns Oil Could Hit $200

Wood Mackenzie said its analysis indicates that Brent crude prices could approach $200 per barrel by end-2026.

Constellation to Invest in Pine Creek RNG

'The agreement creates the framework for Constellation and Pine Creek to develop approximately 3.0 million MMBtus annually of additional RNG production'.