The world’s largest oilfield-service providers are looking to production increases in the Middle East to help offset a slowdown in US shale.
US natural gas dropped for a second session on the outlook for warmer temperatures across large parts of the country, which is likely to trim demand for the fuel used for heating and power generation.
TotalEnergies is expanding its exploration portfolio offshore Namibia with acreage north of a block where a major oil discovery has been made, as the supermajor looks to boost activity in the new global exploration hotspot.
Shell’s CEO Wael Sawan told CNBC the company is actively considering multibillion-dollar offshore natural gas investments in Venezuela that could start production in the next few years, pending regulatory approvals. The comments mark one of the clearest public signals yet that Shell is weighing a major push into Venezuelan energy assets after years of sanctions and uncertainty.
Equinor has signed a five-year agreement to supply up to 500 mcm (17.7 bcf) of gas per year to Dutch energy company Eneco, Equinor announced on Thursday.
In a statement posted on its website, the Bureau of Ocean Energy Management (BOEM) announced “another major step toward expanding offshore energy development pursuant to the One Big Beautiful Bill Act”.
Turkey signed a deal with Chevron Corp. on Thursday to jointly explore for oil and gas around the world, the country’s energy ministry said.
Vitol Group and TotalEnergies SE are hoovering up key North Sea crude supplies, part of the biggest spate of activity in almost two decades for barrels that help set global oil prices.
Oil fell for the first time in three days after Iran confirmed it would hold negotiations with the US, easing the immediate risk of military conflict and supply disruptions from the OPEC producer.
The U.S. is projected to produce almost a quarter of the world’s petroleum and other liquid fuels output in 2026 in the U.S. Energy Information Administration’s (EIA) latest short term energy outlook.