DNO ASA announced that its wholly-owned subsidiary DNO Norge AS has been awarded participation in 13 exploration licenses, of which four are operatorships, under Norway’s Awards in Predefined Areas (APA) 2024 licensing round.
Affiliates of Langford Energy Partners (LEP), a privately held oil & gas operating company, announced that they have closed on the acquisition of Midland basin assets from Murchison Oil and Gas, LLC.
Global oil markets will face a widening glut in 2026 as OPEC brings back production and output from the U.S., Canada and Guyana continues to grow, the U.S. government said in its first set of forecasts for next year.
Indonesia Energy Corporation (IEC), an E&P company focused solely on the Indonesia region, announced that IEC senior management will hold an investor update conference call on Tuesday, Jan. 21 to provide an update on future drilling and development plans, including a new planned reserve report and the unveiling of IEC’s new corporate logo and investor relations outreach program.
The Republic of Congo will officially launch its licensing round for open oil and gas blocks at the upcoming Congo Energy and Investment Forum (CEIF), scheduled to take place on March 25-26 in Brazzaville.
Trump says he’ll push shale producers to ramp up output, even if it means operators “drill themselves out of business.” However, it’s not clear he intends to accomplish this feat since U.S. oil is produced by independent companies and not a national oil company (NOC).
The history of the Middle East since the 1990s has been in many aspects been defined by China’s need to secure sufficient energy to power its economic growth to rival the superpower status of the U.S., and Washington’s efforts to keep these efforts in check.
Oil trading in 2024 was marked by the near complete dominance of algorithmic trading. While not a new trend, algo trading arguably reached its peak last year, with technical analysis largely displacing any factual fundamentals considerations. Instead of making traders money, however, algo trading has lost them money.
Russia has slammed the new hefty U.S. sanctions on its oil industry and exports and vowed to move forward with major domestic oil and gas projects, claiming that it remains “a key and reliable player in the global fuel market.”
Following Friday’s U.S. sanctions against tankers shipping Russian oil, India expects its flows of crude from Russia not to be disrupted until March as the sanctioned tankers will be allowed to discharge until then, a senior Indian government official told Reuters on Monday.