BP said on Thursday that its Cypre development offshore Trinidad and Tobago delivered first gas, as yet another project started up since the supermajor reset its strategy to shift focus back to oil and gas. Cypre is one of BP’s 10 major projects expected to start up worldwide between 2025 …

Crude oil inventories in the United States saw a large increase of 6.2 million barrels during the week ending March 28, according to new data from the U.S. Energy Information Administration released on Wednesday. Crude oil prices were trading up prior to the crude data release by the U.S. Energy …

Global seaborne crude oil flows rose in March from February, just ahead of the supply increase coming from OPEC+ in April, oil flows tracking data by Bloomberg showed on Wednesday. Global crude exports averaged 39.92 million barrels per day (bpd) in March, up by 119,000 bpd from February levels, according …

Arctic LNG 2, the processing and export facility that was billed as Russia’s flagship LNG project, has gradually resumed gas processing after months of hiatus, Reuters reported on Tuesday, citing industry sources and satellite images. Arctic LNG 2 has been under U.S. and EU sanctions since last year, and the …

Kazakhstan’s combined crude oil and condensate production reached an all-time high in March, which further exceeded the country’s crude output ceiling under the OPEC+ deal. Kazakhstan, a non-OPEC producer part of the OPEC+ pact, pumped a record high 2.17 million barrels per day (bpd) of crude oil plus condensate last …

Up to the last days of the Russia-Ukraine natural gas transit deal, the European Union remained reliant on Russia for about a fifth of its gas imports, based on an official report. Russia accounted for 19 percent or 13.4 billion cubic meters (473.22 billion cubic feet) of EU gas imports …

Indian oil refiners have started looking for alternative supplies of crude after President Trump threatened secondary sanctions on Russian energy exports if Moscow refuses to sign a ceasefire deal for the Ukraine. Bloomberg reported that companies such as Bharat Petroleum Corp. and Hindustan Petroleum Corp. were looking for oil cargoes …

Shell, Chevron, and Exxon have warned the Australian government a proposal aimed at curbing natural gas shortages on the domestic market might end up making them worse instead. “The fact that the easiest lever the federal government now has to solve the southern gas problem is export controls, is not …

The price of Russia’s ESPO crude blend, the flagship grade exported from the Russian Far East, slumped to the lowest level since June 2024 and flipped to a discount to the international benchmark as demand from Chinese state-owned firms has weakened, trading sources told Reuters. Cargoes of ESPO for April …

Saudi Arabia, the world’s top crude oil exporter, is expected to slash the price of its oil loading for Asia in May to the lowest level in three months amid a slide in regional benchmarks, a Reuters survey of Asian refining and trading sources showed on Friday. Saudi oil giant …