Petronas to Cut 10 Pct of Workforce on Profit Slump
Petronas, Malaysia's state-owned oil and gas company, will cut about 10 percent of its workforce in a firm-wide restructuring.
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Oil Rises as Traders See Trump-Xi Call as Sign of Easing Tension
Oil rallied as signs the U.S.-China trade war may ease outweighed concerns about increased OPEC+ crude output.
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Venezuela Partners With Smaller Oil Firms as Chevron Scales Back
Chevron's license allowing it to produce and export crude to the US ended in early April and the company was allowed until May 27 to wrap up work.
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USA Crude Oil Inventories Drop 4.3 Million Barrels Week on Week
Crude oil stocks, not including the SPR, stood at 436.1 million barrels on May 30, the EIA's latest weekly petroleum status report showed.
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Two US DOE-Funded Lithium Projects Set for Streamlined Permitting
The Kings Mountain and Liberty Owl lithium projects have made it to a list of critical mineral production projects added to the Federal Permitting Dashboard, giving them a streamlined process.
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Viper Energy to Buy Sitio Royalties Corp in $4.1B Deal
The transaction is subject to customary regulatory approvals and is expected to close in the third quarter of 2025, a joint statement said.
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Oando Annual Revenue Nearly Doubles after Acquisition from Eni
Nigeria's Oando reported around $2.61 billion in revenue for 2024.
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ADX to Raise Stake in Anshof Oilfield in Austria
ADX reached a deal to acquire Xstate's 20 percent stake in Anshof, which would increase the Aussie company's ownership in the Austrian producing field to 70 percent.
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TotalEnergies to Raise Stake in Lapa in Brazil Swap with Shell
TotalEnergies is exiting the under-development Gato do Mato field by divesting its stake to operator Shell in exchange for an increased ownership in the producing Lapa field, where it is operator.
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There Have Been 2 Significant OPEC+ Decisions in the Past Week
There have been two significant OPEC+ decisions in the past week, analysts at Standard Chartered Bank said.