OilPrice

Alberta reduced the number of its inactive oil and gas wells by 5% last year, to a total of 79,000 from 83,000 a year earlier, according to a report by the Alberta Energy Regulator. The watchdog said that oil and gas companies in the province spent over C$769 million, or about $550 million, on the

Europe’s industry is set to lose further competitiveness as high energy prices, rising natural gas prices, and concerns about gas supply this winter are increasing uncertainty about factory utilization amid rising costs. European benchmark natural gas prices are hovering around a one-year high hit

Oil supplies from Russia to the Czech Republic via the Druzhba pipeline resumed early on Friday, Czech refiner ORLEN Unipetrol said, after flows were interrupted earlier this week. “Oil supplies were restored this morning and oil is flowing again through the Druzhba pipeline to the Czech Republic,”

BP is looking to sell up to 49% of its U.S. natural gas pipeline network in a deal that could fetch up to $3 billion, Reuters reported on Friday, citing anonymous sources with knowledge of the plans. The potential sale would be part of BP’s efforts to reduce its net debt, which has recently

Chevron has reduced the amount of capital expenditure it will allocate for its operations in the Permian Basin next year, the company said in an update. The company said it planned to spend between $4.5 billion and $5 billion on production in the Permian, “as production growth is reduced in favor