Shell hopes to produce gas from Venezuela's Dragon field in three years and have it processed in Trinidad and Tobago for export, CEO Wael Sawan told Bloomberg TV in an interview on Thursday. Shell and Trinidad have been trying to increase the supply of natural gas to Trinidad's Atlantic LNG export facility and broader petrochemical sector amid shortages due to dwindling supplies from the Caribbean island. Shell and Trinidad National Gas Company were in 2024 jointly granted a 30-year [Read more]
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Iran’s foreign minister heads to Muscat for nuclear talks with US
Iran's Foreign Minister Abbas Araqchi has departed for the Omani capital Muscat at the head of a diplomatic delegation for nuclear talks with the U.S. due to be held on Friday, the Iranian Foreign Ministry's spokesperson said. The U.S. and Iran have agreed to hold talks in Oman on Friday, officials for both sides said, even as they remain at odds over Washington's insistence that negotiations must include Tehran's missile arsenal and Iran's vow to discuss only its nuclear programme. Iran [Read more]
Phillips 66 to lay off 277 workers as Los Angeles refinery winds down
Phillips 66 is set to lay off 277 employees as operations at the 139,000-barrel-per-day Los Angeles-area refinery wind down ahead of closure, filings to California's employment regulator show. The Houston-based refiner will terminate 122 employees at the Los Angeles-area refinery in April, a notice filed with the regulator on Monday showed. In a separate notice filed last month, the company said it will lay off 155 employees at the refinery. Phillips 66 confirmed the WARN notices are in [Read more]
US to auction drilling rights for Alaska reserve on March 9
The Trump administration on Thursday said it would hold a sale of oil and gas drilling rights across 5.5 million acres of Alaska's National Petroleum Reserve on March 9. WHY IT'S IMPORTANT The sale is the first of at least five mandated by President Donald Trump's One Big Beautiful Bill Act, which he signed into law last year. The U.S. has not offered tracts in the Alaska reserve, which is known as the NPR-A, since 2019. KEY QUOTE "The National Petroleum Reserve in Alaska plays a [Read more]
Shell weighing Venezuela offshore investments worth billions of dollars, CEO tells CNBC
Shell is weighing investments in certain offshore natural gas opportunities in Venezuela involving investments worth a few billion dollars with production expected in the next couple of years, CEO Wael Sawan said in an interview with CNBC on Thursday. "These are opportunities that could potentially be activated within months," he told CNBC, adding that the company is now awaiting approvals. (Reporting by Dagmarah Mackos; ) [Read more]
Cheniere submits application to build massive LNG plant in Texas
Cheniere Energy, the largest liquefied natural gas exporter in the U.S., has submitted an application to build a 24 million metric tonnes per annum LNG plant at its Corpus Christi location in Texas, according to a filing with the Federal Energy Regulatory Commission. The proposed project will be an expansion of Cheniere's Corpus Christi plant, which at present has a capacity of 18 mtpa but could soon produce as much as 25 mtpa with the ongoing Stage 3 expansion expected to be completed by the [Read more]
Petrus Resources Announces Upsize of Bought Deal Life Offering to $14.5 Million
CALGARY, Alberta, Feb. 05, 2026 (GLOBE NEWSWIRE) -- Petrus Resources Ltd. ("Petrus" or the "Company") (TSX: PRQ) is pleased to announce that, due to investor demand, it has entered into an amended agreement with Haywood Securities Inc. on behalf of a syndicate of underwriters (collectively, the "Underwriters"), to increase the size of its previously announced "bought deal" private placement offering to approximately $14.5 million (the "Upsized Offering"). The Underwriters have agreed to [Read more]
Shell plc publishes fourth quarter 2025 press release
London, February 5, 2026 "2025 was a year of accelerated momentum, with strong operational and financial performance across Shell. We generated free cash flow of $26 billion, made significant progress in focusing our portfolio and reached $5 billion of cost savings since 2022, with more to come. In Q4, despite lower earnings in a softer macro, cash delivery remained solid and today we announce a 4% increase in our dividend and $3.5 billion share buyback, making this the 17th consecutive [Read more]
International Petroleum Corporation to release 2025 Year-End Financial and Operational Results and to hold 2026 Capital Markets Day on February 10, 2026
TORONTO, Feb. 05, 2026 (GLOBE NEWSWIRE) -- International Petroleum Corporation (IPC) (TSX, Nasdaq Stockholm: IPCO) will publish its financial and operating results and related management’s discussion and analysis for the three months and year ended December 31, 2025, on Tuesday, February 10, 2026 at 07:30 CET, followed by an audiocast at 10:00 CET. IPC’s annual Capital Markets Day will also be held on Tuesday, February 10, 2026 as a webcast at 15:00 CET. Follow the 2025 year-end financial and [Read more]
Russian oil sellers cut prices in China to attract demand as India wavers
Discounts on Russian oil exports to China widened to new records this week as sellers cut prices to lure demand from the world's top crude importer and offset the likely loss of India sales, traders said. Price cuts for China came after U.S. President Donald Trump announced on Monday a trade agreement with Indian Prime Minister Narendra Modi that included halting oil purchases from Russia, but without giving details on how and when. A halt by India would make China the only major client [Read more]
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