As part of the U.S.-EU trade deal agreed over the weekend, the EU committed to purchasing a mindblowing $750 billion worth of US energy products over three years ($250 per year) including LNG, oil, and nuclear fuel (again this is very big picture: neither side has detailed what was included in the energy deal – or whether it covered items such as energy services or parts for power grids and plants).
The build brings commercial stockpiles to 426.7 million barrels according to government data, which is still 6% below the five-year average for this time of year.
Crude oil futures have jumped to the highest levels in six weeks after U.S. President Donald Trump ratcheted up threats to slap Russia with extra sanctions and tariffs unless it agrees to a ceasefire with Ukraine. Brent crude for September delivery gained 1.2% to trade at $73.34/barrel in Wednesday’s morning session, while WTI crude was up 1.5% to $70.24. Trump told […]
Oil prices traded flat on Thursday in Asian markets, holding on to gains from earlier in the week as traders continued to weigh intensifying geopolitical risks and new tariff deals that could reshape global crude flows.
The combined entity will be owned by Repsol E&P Group (45%) and NEO UK (55%) and is positioned to become one of the largest producers in the UK Continental Shelf with output of approximately 130,000 boepd in 2025, according to the companies’ projections.
Consolidating operatorship of the Bass Strait assets into Woodside’s operated portfolio strengthens Woodside’s footprint in Australia and reflects Woodside’s long history of operating excellence.
Petrobras posted a 5% rise in oil and gas production in Q2 2025 compared to Q1, a performance the company attributes to the ramp-up of several FPSOs.
Ecuador’s oil production has plunged to multi-year lows after heavy rains and erosion caused the shutdown of the two largest crude pipelines, potentially costing the country as much as $300 million in lost revenue.
Brazil’s crude oil exports to the U.S. are facing an uncertain future as Washington prepares to impose sweeping 50% tariffs on Brazilian imports starting August 1—up from the current 10%. While it remains unclear whether crude oil will be included in the list, analysts and industry groups are already warning of major disruptions.
Tullow Oil plc (Tullow) is pleased to announce that it has successfully completed the sale of its assets in Gabon to the Gabon Oil Company (GOC) following satisfaction of all conditions precedent under the Sale and Purchase Agreement (SPA), with the full proceeds now received by Tullow.