Ceiling on Venezuela's Oil Output Growth Expected as U.S. Oil License Expires

The expiration of the widest U.S. license so far granted to Venezuela's oil and gas industry will put a ceiling on the South American country's slow crude production growth unless Washington grants enough individual authorizations to compensate, according to analysts and experts.

Shell Urges Investors to Reject Climate Demands by Shareholder Group

Shell on Wednesday urged shareholders to vote against an independent resolution, co-filed by a group of 27 investors, that called on the energy company to set tighter climate targets.

U.S. Considers Releasing More SPR Oil to Keep Gas Prices Low, White House Adviser Says

U.S. President Joe Biden will do what he can to ensure affordable gasoline prices, White House senior adviser John Podesta said at an industry conference on Tuesday, when asked about future releases of crude oil from the Strategic Petroleum Reserve (SPR).

Biden Unlikely to Tighten Iran Oil Sanctions Following Israel Attack, Analysts Say

Iran's unprecedented missile and drone strike on Israel is unlikely to prompt dramatic sanctions action on Iran's oil exports from the Biden administration due to worries about boosting oil prices and angering top buyer China, said analysts.

CNOOC Stockpiles Russian Oil at New Reserve Base in China

State-run China National Offshore Oil Co., one of the country's top importers of Russian oil, has in recent months been pumping shipments of ESPO blend from Russia's Far East into a newly launched reserve base, according to traders and tanker trackers.

Oil Prices Dip as Market Reacts to Iran's Attack on Israel

Oil prices fell at Asia's open on Monday, as market participants dialed back risk premiums following Iran's attack on Israel late on Saturday, which the Israeli government said caused limited damage.

Cenovus Energy to Invest $1.5 Billion in Ohio Refineries Over Next 5 Years

Cenovus Energy said it plans to invest $1.5 billion in its Ohio refineries over the coming five years, including Lima and Oregon.

Niger Signs $400 Million Crude Oil Deal with Chinese Firm CNPC

Niger has signed a memorandum of understanding with Chinese state-owned oil giant China National Petroleum Corp. worth $400 million linked to the sale of crude oil from its Agadem oilfield, Niger state television RTN reported late on Friday.

Motiva Restarts Two CDUs at Port Arthur Refinery After Power Outage

Motiva Enterprises restarted two crude distillation units (CDUs) overnight at its 626,000 barrel-per-day (bpd) Port Arthur, Texas refinery, the nation's largest, after a power outage on Wednesday, people familiar with plant operations said on Thursday.

North Dakota's Bakken Rig Count Drops as Consolidation Sweeps Oil Patch

Operators in North Dakota's Bakken oilfield reduced their rig count to 36 in April, down from 40 in March, marking the lowest number this year as a wave of consolidation has swept through the oil patch, state regulators said on Friday.

Kansas City Fed Survey: Oil, Gas Activity Declines in U.S. Midwest, Rockies During Q1 2024

Oil and gas energy activity in Oklahoma, Colorado and the northern part of New Mexico fell in the first quarter of 2024, the Federal Reserve Bank of Kansas City, Missouri, said on Friday in its quarterly survey of energy activity.

U.S. Finalizes Big Reforms to Federal Oil and Gas Drilling

President Joe Biden's administration on Friday finalized a range of reforms designed to boost returns and address environmental harms from oil and gas drilling on public lands.

IEA Trims Oil Demand Forecast on Weakness in Wealthier Countries

The International Energy Agency (IEA) trimmed its forecast for 2024 oil demand growth on Friday, citing lower than expected consumption in OECD countries and a slump in factory activity.

ADNOC Explored Potential Takeover of BP, Sources Say

The United Arab Emirates' state-owned oil company recently considered buying Britain's BP but the deliberations did not progress beyond preliminary discussions, people familiar with the matter told Reuters.

Trafigura Consortium in Talks to Buy Exxon Oil Refinery in France

Rhone Energies, a consortium of commodity trader Trafigura and Entara LLC, is in exclusive negotiations with Exxon Mobil's ESSO SAF to acquire the Fos-sur-Mer refinery in southern France and the Toulouse and Villette de Vienne terminals.

Global Partners Acquires Four Liquid Energy Terminals from Gulf Oil for $212 Million

Global Partners LP has announced the successful closing of its acquisition of four liquid energy terminals from Gulf Oil Limited Partnership for $212.3 million.

Mexican Pemex Crude Output Reduced After Platform Fire, Source Says

Mexican Pemex crude oil production is down some 20,000 barrels per day following a fire at an offshore platform on Saturday that left several injured and at least one dead, a source at the state energy company said.

Biden Administration Says Enbridge Pipeline Shutdown Order Should Be Reconsidered

The Biden administration has urged a U.S. appeals court to tell a lower court to rethink its order that would require Canadian operator Enbridge to drain portions of an oil pipeline that runs through Native American tribal land in Wisconsin, according to a court filing made public on Wednesday.

Former Shell CEO: Shell at Disadvantage to U.S.-Listed Rivals

Shell's former CEO, Ben van Beurden, said on Tuesday that European oil and gas companies will find it increasingly difficult to compete with U.S.-listed rivals.

Occidental to Resume GoM Production Following Temporary Shutdown Due to Oil Spill

Occidental Petroleum said on Wednesday production is expected to commence in the coming days in the eastern Gulf of Mexico (GoM) after some operations were shut for about five months.

U.S. Gulf Coast Heavy Crude Oil Prices Firm as Supplies Tighten

Prices for heavier crude oil along the U.S. Gulf Coast have climbed in recent weeks, trading at a rare near-par with lighter oil, a sign of supply tightness that could add to rising gasoline prices.

U.S. Coast Guard Clears Louisiana Waters After Main Pass Oil Gathering Pipeline Integrity Test

The Unified Command completed a line integrity test on the Main Pass Oil Gathering (MPOG) company's pipeline system near Plaquemines Parish, southeast of New Orleans, the U.S. Coast Guard said on Monday.

Chesapeake, Southwestern $7.4 Billion Merger Delayed by FTC's Request for More Information

Chesapeake Energy and Southwestern Energy said on Friday the closing date of their proposed $7.4 billion merger has been pushed back to the second half of the year after receiving a U.S. regulator's second request for information.

Iraq to Restart Kirkuk-Ceyhan Pipeline as Kurdish Talks Stall

The reopening of the Kirkuk-Ceyhan pipeline, which has been shut for a decade, would provide a rival route to a pipeline from the Kurdistan region that has been shut for a year as talks between Baghdad and the KRG on resuming exports have stalled.

Despite $90 Crude, U.S. Oil Output Capped by Weak Natural Gas Prices

U.S. crude oil prices last week climbed to their highest this year, but a weak natural gas market, steeper costs and a focus on shareholder returns over new production are keeping shale drillers from big output increases in the world's top oil and gas producer.

AMPP Unveils New Guide to Enhance Pipeline Safety Through Corrosion Control

AMPP unveils a comprehensive guide to enhance pipeline safety through corrosion control, aligning with the latest PHMSA regulations. Developed by industry experts, the guide offers practical strategies for U.S. gas transmission operators and valuable insights for international counterparts, all aimed at safeguarding pipeline integrity.

Exxon Forecasts Decline in First-Quarter Profit Amid Weaker Oil, Gas Prices

Exxon Mobil on Wednesday signaled first-quarter operating results would drop over the prior quarter on weaker oil, gas prices and a big loss in fuel derivatives, a securities filing showed.

Enterprise Products Partner's Texas Gulf Coast Oil-Export Facility License Upheld by U.S. Court

A U.S. appeals court on Thursday upheld federal approval of a deepwater oil-export facility planned off the Texas Gulf Coast, saying the proposed Enterprise Products Partners facility had met environmental review criteria.

Pemex's Tupilco Profundo Field to Boost Mexico's Output by 117 MMbbl Oil, 124 Bcf Gas

Mexican state energy company Pemex plans to produce 116.9 million barrels of oil and 124.4 billion cubic feet of natural gas from the Tupilco Profundo field during its lifespan, the oil regulator said on Thursday.

Surprise May Start for Trans Mountain Pipeline Expansion Leaves Analysts Puzzled

Trans Mountain's expanded oil pipeline system will start commercial operations on May 1, the Canadian government-owned company said late on Wednesday, surprising analysts with an earlier than expected commencement on the long-delayed $25.2 billion project.