Aramco CEO Warns of Oil Market Catastrophe in Prolonged War
Saudi Aramco's chief executive officer warned the impact on global oil markets will be 'catastrophic' the longer the disruption from the Iran war drags on.
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DOI Moves to 'Cut Red Tape' for Offshore Oil, Gas
'For too long, Washington red tape has strangled American energy producers and held back small businesses', Interior Secretary Doug Burgum said.
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Gulf Oil Giants Deepen Cuts
Oil supply cuts in the Middle East are deepening.
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Phillips 66 Names 2 Board Members after Elliott Negotiations
'While more work must be done, we note the team's focus on execution, capital return and the actions to enhance the company's advantaged mid-continent position', partners at Elliott said.
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Woodside, Pemex Start Drilling for Trion Development Project
Targeted to be put into production 2028, the $7.2-billion 'ultra-deepwater' project includes a floating production unit with an output capacity of 100,000 barrels a day.
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Sparta CEO Says 'Products, Not Crude, Are the Real Story'
'While crude has grabbed headlines, the extreme price action is in refined products and particularly middle distillates', Sparta Commodities CEO Felipe Elink Schuurman said.
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Shell Sells Part of US Lubes Business to Monomoy for $1.3B
'By capitalizing on a strong market opportunity, this divestment allows us to monetize an asset that is not central to Shell's lubricants portfolio in the U.S. and reinvest in opportunities that generate higher returns'.
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Market Spinning After 'Most Epic Price Reversal in Oil History'
The market is spinning after the most epic price reversal in oil history, Phil Flynn, a senior market analyst at the PRICE Futures Group, told Rigzone on Tuesday.
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Trump Teases Early End to Iran War
Trump said the U.S. and Israel were making significant progress in their war on Iran and could end the conflict 'very soon,' curtailing an oil-price surge.
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Aramco Raises Dividend, Launches $3B Buyback
The increase in investor returns comes despite declines in net profit for the fourth quarter and full-year 2025 driven by lower crude oil prices, partly offset by higher crude sales volumes.