Domestic gasoline inventories rose 1.9 million barrels last week, the biggest increase since May, while a measure of gasoline consumption slid to the lowest since late September, according to an Energy Information Administration report. The mounting fuel supplies and lackluster demand may worsen during the normally sluggish winter driving months. SourceContinue Reading

Aggreko’s solutions allow oil and gas operators to repurpose this gas to provide power for their operations, saving money on fuel costs and reducing their net carbon emissions. SourceContinue Reading

Varel International Energy Services, a long-standing provider of drilling and downhole solutions, announced their settled litigation with Taurex Drill Bits, including claims of intellectual property infringement for specific drill bit technology. SourceContinue Reading

After a slow start to the year as the coronavirus crisis disrupted plans across the industry, asset-sale activity in the North Sea has picked up in the second half. SourceContinue Reading

“There’s only going to be three or four independents that are investable by shareholders” after the recent market rout, Pioneer CEO Scott Sheffield said on a conference call with analysts. “The best companies have been picked off the past few weeks.” SourceContinue Reading

Europe Asia Pipeline Co., controlled by Israel’s government, and UAE-based MED-RED Land Bridge Ltd. signed a memorandum of understanding to collaborate on the transportation of crude and oil products between the Persian Gulf and Western markets, according to an EAPC statement. SourceContinue Reading

The explorer has been waiting since 2017 to close its divestment in the Lake Albert Development Project, an effort repeatedly stymied by tax disagreements. SourceContinue Reading

Pioneer Natural Resources Co. is in discussions to buy rival Parsley Energy Inc. in an all-stock deal that could be finalized by the end of the month, according to a person familiar with the matter. Pioneer is run by Scott Sheffield while his son Bryan is Parsley’s founder and chairman. SourceContinue Reading

Speaker Nancy Pelosi told Bloomberg TV that a bill for a compromise stimulus package is being written, raising hopes that lawmakers and the White House may be able to break a months-long impasse. But “mixed messages” between Trump and Senate Republicans — who have opposed a package of $1.8 trillion or more — could pose...Continue Reading

While it expects for now to keep output levels unchanged, Lukoil will “soon” submit proposals to Iraqi authorities to develop a separate area in the south known as Block 10. SourceContinue Reading