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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 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...
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...
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...
Oil rose for a second day after the Trump administration ratcheted up pressure on Iran’s energy exports, while talks between the US and a handful of key trade partners stirred optimism that agreements on trade can be reached. West Texas Intermediate surged 3.5% to settle near $65 a barrel, marking the largest two-day increase since...
Oil held steady as traders weighed the latest US moves in the global trade war, as well as the prospect of looser restrictions on Iranian crude. West Texas Intermediate settled little changed near $61.50 a barrel, and Brent held below $65. While equities rallied after US President Donald Trump paused import duties on some electronics,...
Oil extended a volatile run as investors assessed abrupt shifts in US trade policy, with futures returning to losses following a relief rally on Wednesday. West Texas Intermediate plunged by 3.7% to settle near $60 a barrel, after flirting with a four-year low throughout the session, while Brent fell to close near $63. In the...
Oil tumbled to a four-year low as markets remained on edge about the next steps for President Donald Trump’s global tariff plans. West Texas Intermediate futures swung in a roughly $5 range before settling near $61 a barrel. Futures had briefly surged earlier on speculation about a pause in some tariffs, which the White House...
Oil plunged the most since July 2022 after suffering a twin hit from President Donald Trump’s tariffs and an OPEC+ decision to increase output faster than previously announced. West Texas Intermediate futures plummeted 6.6% to settle below $67 a barrel, while global benchmark Brent dropped 6.4% to end the session near $70. Trump’s deluge of...
Cnooc Ltd. posted higher annual earnings and boosted its dividend, as growth in energy output offset weaker prices. Net income rose to 137.9 billion yuan ($19 billion) in 2024, from 123.9 billion yuan the previous year, China’s largest offshore oil-and-gas driller said in a filing. While that missed expectations of 144.6 billion yuan, and was...
