US Drillers Cut Oil, Gas Rigs for Eighth Week in a Row
The oil and gas rig count fell by one to 554 in the week to June 20, the lowest since November 2021.
Oil Prices Slip as US Sanctions Ease Fears of Escalation in Iran
By Georgina Mccartney HOUSTON, June 20 (Reuters) – Oil prices slipped on Friday as the U.S. imposed new Iran-related sanctions marking a diplomatic approach that fed hopes of a negotiated agreement, a day after President Donald Trump said he might take two weeks to decide U.S. involvement in the Israel-Iran conflict. Brent crude futures were …
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Freeport LNG Requests More Time for Expansion Project
After completing repairs from a 2022 explosion, Freeport LNG is asking for a looser deadline for its next LNG train.
SBM Offshore Signs O&M Contract for FPSO Offshore Suriname
SBM and TotalEnergies’ operations and maintenance contract runs for at least two years after first oil, with extension options.
US Natgas Heads for Best Week in More Than a Month on Hot-Weather Forecasts
U.S. natural gas futures slipped on Friday but headed for its best week in more than a month, steered by forecasts for hotter weather that should boost the amount of gas power generators burn to keep air conditioners humming. Gas futures for July delivery on the New York Mercantile Exchange fell 2 cents, or 0.5%, …
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Largest US Propane Distributor AmeriGas Sells Hawaiian Storage Asset
UGI Corp.’s AmeriGas said it will use the cash from its sale of a 750,000-gallon propane storage facility in Hawaii to service debt.
Eon Resources Acquires Controlling Interest in Permian Field
An Eon Resources Inc. subsidiary—Eon Energy LLC—is acquiring a 94% interest in the Permian Basin’s South Justis Field in Lea County, New Mexico, in exchange for 1 million Class A common shares.
Canada’s Woodfibre LNG Project to be Operational by 2028, Says Canada Official
Canada’s Woodfibre liquefied natural gas project looks to be operational by 2028, Erin O’Brien, assistant deputy minister at Canada’s department of natural resources, said at an energy conference in Tokyo on Friday.O’Brien added that the project is poised to be the world’s first net-zero LNG facility. (Reporting by Yuka Obayashi in Tokyo and Emily Chow …
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Texas Oil Dynasty Targets Payout With $8 Billion Mitsubishi Deal
Bloomberg Albert and Gordon Huddleston, part of the H.L. Hunt family, are in advanced talks to sell Aethon Energy Management’s assets to Mitsubishi Corp. for nearly $8 billion. The potential deal would mark a milestone for the father-son duo and their family’s legacy in the oil industry, which spans over a century and began with …
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US, Chinese Strategic Reserve Buys May Offset Oil Surplus, Russia’s Gazprom Neft Says
U.S. and Chinese purchases for strategic oil reserves are expected to offset any potential global surplus, keeping oil prices in check, the head of the Russian oil producer Gazprom Neft said on Friday. The eight members of OPEC+, which groups OPEC and other producers led by Russia, are unwinding voluntary production cuts and have agreed …
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