Texas’s energy regulator is taking an uncharacteristically critical approach toward burning off excess natural gas, a sign that growing pressure from environmentalists and investors to curb the controversial practice is paying off. SourceContinue Reading

Equinor has agreed to divest its interests in the Bakken field in the US states of North Dakota and Montana to Grayson Mill Energy, backed by EnCap Investments, for a total consideration of around USD $900 million. SourceContinue Reading

Cosmo will invest as much as $145 million in the exploration phase at Offshore Block 4, government-owned ADNOC said Wednesday in a statement. Abu Dhabi holds most of the oil in the United Arab Emirates, the third-largest producer in OPEC. SourceContinue Reading

The agreement provides LLOG access to Eni and Marubeni Oil and Gas’ existing subsea infrastructure connected to the Williams-owned Devils Tower Spar in Mississippi Canyon 773 to optimize its development of the Taggart discovery. SourceContinue Reading

While prices continue to surge, some of the biggest moves in the past day have come at the front of the futures curve. Brent’s nearest timespread has surged — a key sign of market tightness — while key swaps tied to the physical North Sea market have also increased amid frenzied trading of derivatives late...Continue Reading

Total SE bucked the trend of a disappointing fourth quarter for Big Oil, reporting earnings that exceeded expectations and pledging more cash for cleaner energy. SourceContinue Reading

Supply from new oil wells will exceed declining flows from wells already in service, raising overall crude production from the second half of this year, the U.S. Energy Information Administration said in its Short-Term Energy Outlook. SourceContinue Reading

West Texas Intermediate oil is effectively yielding about 8% on an annualized basis for investors who keep rolling their positions from one month into the next. It compares with 1.15% for a 10-year U.S. Treasury, and U.S. junk bonds below 4% for the first time ever. SourceContinue Reading

Investors are betting that Russian oil giants such as Lukoil, Rosneft and Tatneft will rally as they mop up market share from rivals in the U.S. and and other countries seeking to switch to clean energy. SourceContinue Reading

Companies including Exxon Mobil, Diamondback Energy and Marathon Oil have posted double-digit gains this year as a rebound in oil prices and the prospect of an economic recovery have outweighed risks to the industry from the Biden administration. SourceContinue Reading