The Trump administration is studying using oil under land at U.S. military bases and other Department of War sites to help refill the nation’s depleted emergency reserves, according to a person familiar with the matter.
Diversified Energy Company and global investment firm The Carlyle Group have agreed to acquire a portfolio of Anadarko basin oil and gas assets from Camino Natural Resources in a transaction valued at approximately $1.175 billion.
Texas Railroad Commissioner Wayne Christian praised new reports highlighting Texas’ growing role in global energy markets as instability in the Middle East continues to pressure oil and gas supplies.
OPEC’s crude production fell to a new 36-year low last month as the Iran war continued to choke off exports from the Persian Gulf and forced further shut-ins, according to a Bloomberg survey.
Equinor has started production from the Eirin field in the North Sea, bringing new gas volumes online for export to Europe through existing infrastructure at Gina Krog and Sleipner A.
Oil fell below $100 a barrel and natural gas slumped after reports that the U.S. and Iran may be nearing a deal that could reopen the Strait of Hormuz and ease one of the biggest supply disruptions in recent memory.
Saudi Arabia has reduced the official selling price of its flagship crude loading for Asia in June from the May record high, but the price cut was less than expected.
Sonatrach and PTT Exploration and Production (PTTEP) have signed an EPC contract with engineering companies Petrojet and Arkad for the second stage of development of the Hassi Bir Rekaiz oilfield in northeastern Algeria, Sonatrach announced on Tuesday.
Angola’s National Agency for Oil, Gas and Biofuels (ANPG) and Woodside Energy have signed an MoU to co-operate in the assessment of offshore hydrocarbons prospects in Angola, the ANPG announced on Wednesday.
Parex Resources has agreed to acquire a 50% participating stake in Ecopetrol’s oil assets in Colombia’s Magdalena Basin under a five-year USD 250-million investment programme, Parex announced on Monday.