The U.S. Environmental Protection Agency (EPA) announced a pivotal climate regulation on Saturday, mandating significant methane emission reductions from oil and gas...
Venezuelan President Nicolás Maduro has directed state-owned enterprises to begin immediate exploration and exploitation of oil, gas, and minerals in Guyana’s Essequibo...
Occidental Petroleum is in advanced talks to acquire CrownRock, a prominent private oil producer in the US shale sector, specifically in the...
Story By Jerry Bohnen |OK Energy Today| Last week, AAA raised the question…”Is it the end of the road for falling gas...
As Dubai’s glittering skyline plays host to global leaders at COP28, the United Nations’ pivotal climate summit, a heated debate unfolds, not...
Story By Shelly Hagan|Bloomberg via RigZone.com| A Texas oil heir’s quest to make Dallas a hub for biotech is showing signs of...
DUBAI, United Arab Emirates (AP) — Commercial ships came under attack Sunday by drones and missiles in the Red Sea and a...
In a surprising turn of events, investors have shown an increasing interest in the U.S. Natural Gas Fund (UNG), an exchange-traded fund...
Elliott Investment Management, a prominent activist investor, has recently acquired a $1 billion stake in Phillips 66, a major player in the...
The world lost two of our older and wiser inhabitants this week, with the death of Charlie Munger, at 99, and now...

The "Santa Claus rally" tends to boost stocks during the last week of December, but it seems like Santa has been absent this week.
The Dow Jones Industrial Average, S&P 500 and Nasdaq Composite all ended Tuesday slightly lower. Although the losses weren't too drastic, it was the third trading day in a row in which the three major U.S. stock indexes were lower at market close.
Meanwhile, metals markets — including gold, silver and copper — continued their year-end rally. The most active gold and silver contracts are both currently on pace for their strongest year since 1979.
The Dow Jones Industrial Average fell 94.87 points and ended the day at 48,367.06, about 0.2% lower, according to FactSet.
The S&P 500 was down 9.50 points to 6,896.24, about 0.1% lower.
The Nasdaq Composite was down 55.27 points to 23,419.08, finishing 0.2% lower.
A tightening U.S. naval blockade has left approximately $900 million worth of Venezuelan crude stranded at sea, marking a significant escalation in geopolitical tensions. Following the recent seizure of a sanctioned tanker, dozens of vessels are currently idling in the Caribbean or diverting to avoid interception. Reports indicate that over 11 million barrels are stuck, as the U.S. Coast Guard enforces a comprehensive maritime "quarantine" aimed at choking the financial lifelines of the Maduro administration.
For oil and gas professionals, this disruption signals a volatile shift in global heavy crude flows. While Chevron continues limited exports under specific licenses, most "shadow fleet" operators have suspended operations. This bottleneck has forced PDVSA to offer steeper discounts to Asian buyers, with Merey heavy crude widening its spread against Brent. Industry analysts warn that if the blockade persists, Venezuela may face imminent well shut-ins due to exhausted storage capacity, potentially removing up to 500,000 barrels per day from the market.
In a landmark move for the utility technology sector, Octopus Energy has officially announced the spinoff of its AI-driven platform, Kraken, at a valuation of $8.65 billion. This demerger follows a successful $1 billion funding round led by D1 Capital Partners, with participation from major institutional investors including Fidelity International and Ontario Teachers' Pension Plan.
Kraken currently services over 70 million accounts globally for major industry players like EDF, Tokyo Gas, and National Grid. By transitioning into an independent entity, the company aims to accelerate its expansion as a neutral operating system for the global energy transition. Octopus Energy will retain a 13.7 percent stake while utilizing $320 million in additional fresh capital to bolster its own retail and renewable operations. Analysts view this structural separation as a strategic precursor to a potential initial public offering within the next two years, signaling a new era for energy digitalization.
Chevron maintains its Venezuelan operations despite mounting political tensions and uncertainty over sanctions. Following a renewed waiver from the Trump administration, the company resumed crude shipments in August after a year-long hiatus. The potential contribution stands at 250,000 barrels per day, representing over 10% of Chevron's total production and providing critical heavy crude diversification for its Gulf Coast refineries.
Venezuela's output remains volatile, with the IEA reporting 860,000 barrels per day in November, though officials claim the country reached its 1.2 million barrel target. As the largest foreign investor with 102 years of Venezuelan presence, Chevron is playing a strategic long game despite near-term risks. CEO Mike Wirth affirmed the company's commitment to supporting Venezuela's economic reconstruction when circumstances stabilize. With an estimated 300 billion barrels in reserves, Venezuela represents a substantial prize worth enduring ongoing geopolitical turbulence.
by Andreas Exarheas|RigZone.com| In a statement sent to Rigzone late Wednesday, U.S. Geological Survey...
The history of the global oil and gas industry is inextricably linked to the...
Baker Hughes and Hunt Oil Company have signed a joint framework agreement aimed at...
Santa Fe, NM – New Mexico Attorney General Raúl Torrez filed a lawsuit on...
(Reuters) Activist investment firm Kimmeridge Energy Management has submitted a $6 billion offer to...
Japan Petroleum Exploration Co Ltd has spent decades quietly building an international upstream portfolio,...
🎄The holiday season exposes how tight diesel markets really are. ⛽️Diesel demand during Christmas...
The Energy as a Service (EaaS) market is projected to double to over $55...
By Irina Slav for Oilprice.com | The Permian Basin is the largest contributor to U.S....
The oil and gas sector enters 2026 navigating a more turbulent trade and policy...
Have your oil & gas questions answered by industry experts.
