The world’s biggest crude oil exporter, Saudi Aramco, bought this week its first cargo of U.S. WTI Midland, the crude grade which is now part of the dated Brent benchmark, S&P Global Commodity Insights told Reuters. The Saudi oil giant, which is also the world’s biggest oil company, bought the …

ExxonMobil and its partner offshore Cyprus, QatarEnergy, on Friday started drilling for natural gas in an exploration block in the island nation’s exclusive economic zone, the President of Cyprus, Nikos Christodoulides, said. The U.S. supermajor and Qatar’s state energy giant launched drilling activities in Block 5, Christodoulides wrote on X. …

JERA, the largest LNG buyer in Japan, plans to boost purchases from the United States to diversify its supply portfolio, a top company executive told Reuters on Friday. Japan, the world’s second-largest LNG importer after China, is looking to increase its energy security with diverse sources of supply and could …

Despite President Trump’s “drill, baby, drill” policies, it will be oil prices and Wall Street that will determine how much U.S. oil production will grow in the near term, shale investors and executives say. President Trump signed on his first day in office an executive order to unleash America’s energy …

China aims to maintain crude production in 2025 little changed from 2024, with output expected to come in above 200 million tons. In 2024, China’s total oil and gas output exceeded 400 million tons of oil equivalent for the first time, the National Energy Administration (NEA) has revealed. China’s crude …

Italy, the EU’s third-largest economy and the country holding the second-biggest natural gas storage space in the bloc, plans to begin refilling its sites as early as February, to avoid price spikes later in the year, Italian Energy Security Minister, Gilberto Pichetto Fratin, said on Thursday. “Due to ongoing geopolitical …

Additional purchases of U.S. LNG from the European Union would help ease the tightness in global natural gas markets and reduce consumer and industry prices in Germany, Michael Lewis, chief executive at German energy giant Uniper, told Reuters on Wednesday. Earlier this week, U.S. President Donald Trump urged the EU, …

Chinese state-held oil and gas giant CNOOC is keeping its capital expenditure flat this year compared to 2024 as it lowered its oil and gas production growth target, although it still expects annual output records going forward. CNOOC, which specializes in offshore oil and gas developments in China and internationally, …

Aframax oil tankers that serviced crude oil exports from Russia’s western ports are now being redirected to the Russian Far East-China route to service the exports of Russia’s ESPO crude, a favorite with Chinese refiners, Bloomberg reports, citing shipbroker and ship-tracking data. The Biden Administration’s final sanctions on Russian oil …

Oil prices dipped in Asian trade on Thursday, extending losses amid uncertainty over how U.S. President Donald Trump’s proposed tariffs and energy policies would impact global economic growth and energy demand. Brent crude futures fell 26 cents, or 0.3%, to $78.74 a barrel at 0427 GMT, while U.S. West Texas …