Baker CEO Says 2025 Resilience Driven by AI Growth, Sees Oil Investment Slowdown

(Reuters) – Baker Hughes CEO Lorenzo Simonelli said on Friday the global macro environment remains resilient through 2025, despite geopolitical and policy headwinds, supported by the rapid deployment of generative…

Oil Slips on Skepticism About US Commitment to Russian Oil Sanctions

By Benchmarks pare early-day gains spurred by Thursday’s sanctions Brent, US crude both gain over 7% in the week Chinese state oil majors to suspend Russian oil purchases Indian refiners…

Oil and Gas Industry Layoffs Accelerate with Lower Prices

Oil and gas producers and oilfield services providers are slashing workforce numbers as the mergers wave in the sector gives way to reorganization and restructuring.    Over the past few months,…

US Dollar Nearly Flat After Dipping on Soft Inflation

(Reuters) – The U.S. dollar was almost flat on Friday after dipping following fresh inflation data that showed that U.S. consumer prices increased less than expected in September, keeping the…

Rig Count, Frac Crew Count Rise in North Dakota, State Regulator Says

(Reuters) – HOUSTON, OCT 24 – There are currently 28 active rigs in North Dakota, up from 27 in September, according to the state’s Department of Mineral Resources on Friday.…

Spot Crude Premiums Jump as US Sanctions on Russian Producers Drive China, India Demand

(Reuters) -Spot premiums in crude markets jumped on Thursday on expectations that U.S. sanctions on top Russian producers will spur China and India’s demand for supplies from the Middle East,…

North Dakota Oil Production Down 10,000 bpd in August vs July to 1,153,000 bpd – State Regulator

(Reuters) – Oil production in North Dakota fell 10,000 barrels-per-day (bpd) to 1,153,000 bpd in August, monthly data from the state Industrial Commission showed. Bakken and Three Forks oil production…

Eni Raises 2025 Cash Flow Guidance After Beating Q3 Estimates

Italy’s energy giant Eni (NYSE: E) raised its outlook on cash flow generation for 2025 and increased full-year planned buybacks by 20% after posting consensus-beating earnings for the third quarter.…

Windfall Tax Reforms Crucial for North Sea Oil Industry

The UK Government should avoid accelerating the decline of North Sea oil and gas production through policies, as job losses amid the decline in Scotland’s oil and gas industry currently…

Supertanker Rates Soar as Buyers Scramble to Replace Russian Oil

The supertanker freight futures surged on Thursday and Friday after the U.S. sanctions against Russia’s biggest oil firms created a rush to replace Russian barrels.  The front-month supertanker contracts on…