US Gulf Oil Output Could Reach 2.4 MMbbl/d Even Amid Volatility, Industry Leaders Say
Despite the oil price oscillations, oil leaders expressed confidence the Trump administration would remove obstacles to help grow production.
Shell EVP Gulf of America Appointed President, Shell USA
HOUSTON, May 5, 2025 /PRNewswire/ — Gretchen Watkins, President, Shell USA since July 1, 2018, will step down, effective July 31, 2025, after seven years in role. Colette Hirstius, currently Executive Vice President, Gulf of America, will take on the responsibility of President, Shell USA, in addition to her current role as Executive Vice President, Gulf of America, effective …
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What’s Affecting Oil Prices This Week? (May 5, 2025)
If OPEC+ moves forward with unwinding its supply cuts at an accelerated pace, the price of Brent crude could approach $50.
Commonwealth LNG Signs Purchase Agreement with Asian Buyer
Kimmeridge, which owns Commonwealth LNG, has targeted an FID on the project by year-end 2025.
Sunoco LP to Acquire Parkland Corporation in Transaction Valued at $9.1 Billion
DALLAS, May 5, 2025 /CNW/ — Sunoco LP (NYSE: SUN) (“Sunoco” or the “Partnership”) and Parkland Corporation (TSX: PKI) (“Parkland”) announced today that the parties have entered into a definitive agreement whereby Sunoco will acquire all outstanding shares of Parkland in a cash and equity transaction valued at approximately $9.1 billion, including assumed debt. As part of the …
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NGL Sells 18 Propane Terminals to Alliance Energy
NGL Energy Partners executives closed the sale of approximately $270 million in non-core assets to focus on its primary business.
The Heart of the US Oil Boom is Slowing
By Robert Cyran NEW YORK, May 5 (Reuters Breakingviews) – Oil fields are just as quick to make fortunes as break them. The 1901 Spindletop gusher in Texas jumpstarted the petroleum age, crashing oil prices. A mere two years later, over-extraction drove the field into decline. Sure, today’s industry is far larger and more sophisticated. …
Goldman Sachs Lowers Oil Price Forecast After OPEC+ Decision to Boost Output
Goldman Sachs reduced its oil price forecast following decisions by the Organization of the Petroleum Exporting Countries and its allies, OPEC+, to accelerate oil output increases, the bank said in a note dated Sunday. The bank now expects Brent crude to average $60 per barrel for the rest of 2025 and $56/bbl in 2026 down …
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US-Ukraine Deal is Heavy on Symbolism, Light on Minerals
(Reuters) – U.S President Donald Trump’s minerals deal with Ukraine is a big symbolic win for both sides. Ukraine gets a long-term commitment for U.S. investment in “a free, sovereign, and secure Ukraine”. The United States gets a stake in Ukraine’s future resource potential. And Trump gets to prove that he is, to quote White …
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Big Oil in Business as Usual Mode Despite Nearing Storm: Bousso
By Ron Bousso Summary Oil majors warn of worsening global economic conditions Yet most stick to large shareholder return programmes And are borrowing more in order to pay for their expenses (Reuters) – Top oil and gas companies are watching the worsening global economic outlook with trepidation, but they currently appear to be doing little …
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