Industry News

25 articles from 8 sources

WTI Crude

$100.50/bbl

Brent Crude

$104.73/bbl

Natural Gas

$2.83/MMBtu

Active Rigs (NA)

588rigs

Rigzone

about 7 hours ago

IEA Slashes Oil Demand View

The International Energy Agency cut forecasts for oil demand this year and warned consumption may decline further in the coming months.

Offshore Technologyabout 7 hours ago

Energy Holdings plans $1bn combination with Ventura Offshore

Energy Holdings and Ventura Offshore have signed a LOI for an all-share combination that would create a group with an implied pro forma equity value of about $1bn.

Offshore Technologyabout 8 hours ago

Europe needs to stress-test the infrastructure behind its emergency oil supply

Europe should not need an emergency to test the security of its oil supply infrastructure, writes Ivo Hlaváček, former Slovak ambassador and former director-general at the Slovak Ministry of Foreign A…

Rigzoneabout 9 hours ago

What if the Assumptions Embedded in the Oil Curve Are Wrong?

What if the assumptions embedded in the oil curve are wrong - J.P. Morgan analysts, including Natasha Kaneva, J.P. Morgan's Head of Global Commodities Strategy, ask.

Offshore Technologyabout 10 hours ago

Oil prices poised to end week above $100 for first time since May

Oil prices declined on 11 September, Friday but remained positioned to end the week over $100 per barrel, marking the first weekly close at this level since mid-May.

Offshore Technologyabout 10 hours ago

TotalEnergies makes new oil discovery in Angola’s Block 17

TotalEnergies has disclosed making the Acacia-5 near-by oil discovery on Block 17 offshore Angola, with plans to bring the new field into production just three months after its discovery in June 2026.

Offshore Technologyabout 12 hours ago

Saipem, Jan De Nul sign LoI for Mozambique Rovuma LNG project

Saipem, in partnership with Jan De Nul, has entered into a letter of intent (LoI) with ExxonMobil Moçambique for a contract related to the phase 1 of the Rovuma LNG project, located offshore Mozambiqu…

Rigzoneabout 24 hours ago

Oil Soars as Hormuz Risks Rattle Markets

Brent surged more than 6% to $107.63 as escalating Middle East tensions heightened global supply concerns.

Rigzone1 day ago

Iran, USA Brace for Long War

Iran and the U.S. are digging in for a protracted war.

Offshore Technology1 day ago

Odfjell secures $518m contract for Deepsea Bergen from Vår Energi

Odfjell Drilling has received a LOA from Vår Energi for the deployment of the Deepsea Bergen rig, with an estimated contract value of $518m.

Offshore Technology1 day ago

Arena Energy set to win nine blocks in Gulf of Mexico Lease Sale BBG3

Arena Energy has been selected as the apparent high bidder for nine Outer Continental Shelf blocks in the Gulf of America after participating in the Lease Sale Big Beautiful Gulf 3 (BBG3) auction.

Rigzone1 day ago

Oil Closes at Highest Level in 4 Months

The Brent oil price closed at $101.21 per barrel on Wednesday.

Offshore Technology1 day ago

Argent LNG, Albania sign MoU for coastal LNG terminal

Argent LNG and the Albanian government have signed a non-binding memorandum of understanding (MoU) to jointly consider the development of a large-scale liquefied natural gas (LNG) storage and regasifi…

Offshore Technology1 day ago

Enbridge to buy Tallgrass crude oil transport business for $2.5bn

Enbridge has agreed to acquire the crude oil transportation business of US-based energy infrastructure company Tallgrass Energy in a transaction valued at $2.55bn in cash.

Rigzone2 days ago

Mexico Slashes Pemex Aid by 70 Pct in Budget

Mexico plans to cut financial support for state-owned Petroleos Mexicanos by nearly 70 percent next year.

Rigzone2 days ago

Oil Surges as Attacks Escalate

Brent reached $101 as Middle East disruptions, falling inventories and renewed Chinese buying tightened markets.

Rigzone2 days ago

Korea Picks $22B Gas Project as First in USA Trade Deal

South Korea has identified a gas-fired power project in Texas as the first U.S. investment under a trade deal agreed last year, local media reported.

Rigzone2 days ago

USA Oil, Gas Workforce Figures Buck Trend

The number of employees in the oil and gas extraction industry rose month on month, bucking a trend, data on the U.S. Bureau of Labor Statistics website showed.

Offshore Technology2 days ago

Saipem wins Osman Gazi FPU commissioning contract in Türkiye

Saipem has secured a contract from GOE Petrol Sanayi to provide commissioning services for the Osman Gazi FPU, which will serve the Sakarya gas field in the Turkish Black Sea.

Rigzone2 days ago

HSBC Analysts Significantly Raise Oil Price Forecasts

Analysts at HSBC, including Senior Global Oil and Gas Analyst Kim Fustier, revealed that they had raised their 2026 oil price forecast by $10 per barrel and their 2027 oil price forecast by $20 per ba…

Rigzone2 days ago

Brent Oil Price Breaks $100 Per Barrel

The Brent oil price rose above $100 per barrel for the first time since July.

Rigzone3 days ago

Brent Nears $100 on Mideast Strikes

Oil rose as fresh Middle East strikes heightened concerns about global supply disruptions.

Rigzone3 days ago

Venezuelans Split on Trump Oil Deal

Venezuelans are deeply divided over the Trump administration's oil deal with the country's interim authorities.

Rigzone3 days ago

North America Loses Rigs for 3 Straight Weeks

North America dropped seven rigs week on week, according to Baker Hughes' latest North America rotary rig count.

Rigzone3 days ago

Saudi Arabia Halts Energy Sites

Saudi Arabia halted several energy facilities in the south.