Energy Sector

APA Corp is exploring a $1 billion sale of its Permian Basin assets to streamline operations and reduce debt, aligning with its strategic focus on shale production.

Significant revisions to US energy data by the EIA have left traders and analysts confused, questioning the reliability of crucial market information.

Quantum Capital Group to buy U.S. power producer Cogentrix Energy for $3 billion, highlighting growing investor interest in the energy sector amid rising power demands.

The Organization of the Petroleum Exporting Countries (OPEC) is shifting its focus in oil market reporting. Instead of estimating demand for its own crude oil production, OPEC will now prioritize forecasts for demand from the wider OPEC+ group. This change reflects the growing importance of OPEC+ in managing global oil supply. OPEC+ is an alliance of major oil producers that includes Russia. The alliance has been working with OPEC since 2016 to coordinate production levels and stabilize oil prices.

U.S. gasoline and diesel demand have plunged to their lowest seasonal levels since the 2020 pandemic, according to new data. This slump is squeezing refining margins, threatening to disrupt two years of strong profits for refiners in the energy sector. The reasons behind the decline in demand are unclear, but it has significant implications for both refiners and consumers.

Nigeria is on the brink of finalizing a significant deal that could see the sale of Exxon Mobil’s oil assets to indigenous oil firm Seplat Petroleum Development Company Plc. The…

Major oil and gas companies reported weaker-than-expected first-quarter earnings on Friday, as a sharp drop in natural gas prices compared to last year took a bite out of profits. The results for Big Oil firms are a stark contrast to the record-breaking levels seen in 2022.

In a significant development for the oil industry, Trident Energy has initiated exploration activities in the Republic of Congo, signaling a new chapter in the country’s energy sector. The move…

Guinea finds itself in the grip of an escalating electricity supply crisis, underscoring the urgent need for decisive measures to address the country’s pressing energy challenges. The situation has reached…

Namibia is poised to make a crucial decision regarding its recent oil discovery, with expectations of reaching a final investment verdict by the end of 2024. The potential development signals…