The Trump administration has eased recent export limits on a critical petroleum product that’s used to make plastics — a shift that represents a modest pullback on curbs used as leverage in trade negotiations with China.Under the change, Enterprise Products Partners LP and Energy Transfer LP are being allowed to load that gas, known as...
Middle East Tensions Keep Oil Volatile
Oil edged higher after a volatile session as President Donald Trump fanned speculation that the US may join the Middle East conflict.West Texas Intermediate rose 0.4% to settle above $75 a barrel, the highest closing price since January. Markets swung between gains and losses in a $3 range amid sharp reactions to developments in the...
Russia Says It Struck Kremenchuk Oil Refinery in Ukraine
Russia said its overnight missile and drone barrage struck the large Kremenchuk oil refinery in central Ukraine, which was previously targeted by Kremlin forces in 2022.“A group strike with precision-guided air and sea-based weapons, as well as unmanned aerial vehicles” hit the facility in the Poltava region, Russia’s defense ministry said in a Telegram statement.Acting...
Pakistan’s oil and gas sector sees significant progress, Federal Minister for Finance Senator Muhammad Aurangzeb.
Pakistan’s oil and gas sector sees significant progress, Federal Minister for Finance Senator Muhammad Aurangzeb. #budget #2025-2026 10 June 2025 Federal Minister for Finance Senator Muhammad Aurangzeb on Tuesday said that over the past few years that they have made significant progress in Pakistan’s oil and gas sector through diversification and strategically targeted reforms.DronesDuring the...
ADNOC Drilling to Buy 70Pct of SLB Kuwait, Oman Land Drilling Rigs Business
ADNOC Drilling Company PJSC announced, in a release sent to Rigzone on Thursday, that it has signed an agreement to acquire a 70 percent stake in SLB’s land drilling rigs business in Kuwait and Oman. ADNOC outlined in the release that the business comprises “eight fully operational land rigs under contract with the respective national...
GasBuddy Head Predicts ‘Relatively Stable Stretch for Gas Prices
Patrick De Haan, the company’s head of petroleum analysis, said, “as we move into the heart of summer”, he believes “we’re likely to see a relatively stable stretch for gas prices as refinery maintenance wraps up”. “Don’t expect the national average to rise above $3.30 per gallon, nor drop much below $3 for now,” he...
U.S. energy consumption is set to grow in 2025
U.S. energy consumption will grow this year, the U.S. Energy Information Administration (EIA) projected in its latest short term energy outlook (STEO), which was released on May 6. In that STEO, the EIA forecast that total U.S. energy consumption will come in at 95.42 quadrillion British thermal units in 2025. Total U.S. energy consumption was...
𝐌𝐚𝐭𝐚𝐝𝐨𝐫 𝐒𝐞𝐞𝐬 𝐘𝐨𝐘 𝐈𝐧𝐜𝐫𝐞𝐚𝐬𝐞 𝐢𝐧 𝐏𝐫𝐨𝐟𝐢𝐭 𝐚𝐬 𝐎𝐮𝐭𝐩𝐮𝐭 𝐑𝐢𝐬𝐞𝐬
Matador Resources Company has posted $240.1 million in net profit for Q1 2025, up 24 percent from the $193.7 million logged for the corresponding quarter a year prior. Its oil and natural gas production averaged 198,631 barrels of oil equivalent per day (boepd) in the first quarter of 2025, a 33 percent jump year-over-year. The...
USA Upstream M&A Hits $17B in 1Q
In a release sent to Rigzone by the Enverus team late Tuesday, the company’s subsidiary, Enverus Intelligence Research (EIR), revealed that U.S. upstream mergers and acquisitions (M&A) hit $17 billion in deal value in the first quarter of 2025 and highlighted that this was the second best start to a year since 2018. “However, activity...
𝐀𝐛𝐮 𝐃𝐡𝐚𝐛𝐢 𝐏𝐨𝐫𝐭𝐬 𝐜𝐨𝐦𝐩𝐥𝐞𝐭𝐞𝐬 𝐟𝐢𝐫𝐬𝐭 𝐬𝐡𝐢𝐩-𝐭𝐨-𝐬𝐡𝐢𝐩 𝐋𝐍𝐆 𝐛𝐮𝐧𝐤𝐞𝐫𝐢𝐧𝐠 𝐨𝐩𝐞𝐫𝐚𝐭𝐢𝐨𝐧 𝐚𝐭 𝐊𝐡𝐚𝐥𝐢𝐟𝐚 𝐏𝐨𝐫𝐭
AD Ports Group recently hosted its first ship-to-ship (STS) liquified natural gas (LNG) bunkering operation at its flagship deep-water Khalifa Port. The STS bunkering was part of a simultaneous operation in which the container vessel MSC Thais, berthed at Abu Dhabi Terminals, received LNG fuel from the dedicated LNG bunker vessel Green Zeebrugge, supplied by...