E&P Highlights: March 24, 2025
Here’s a roundup of the latest E&P headlines, from an oil find in western Hungary to new gas exploration licenses offshore Israel.
What's Affecting Oil Prices This Week? (March 24, 2025)
Oil demand will be picking up as we move into warmer months for the northern hemisphere. For the upcoming week, Stratas Advisors think the price of Brent crude will move higher and will test $73.
Apollo Acquires BP’s Gas Pipeline Stake for $1B
BP Pipelines holds a 12% interest in the Trans-Anatolian Natural Gas Pipeline (TANAP), which transports natural gas from Azerbaijan across Turkey.
US Slaps Iran-Related Sanctions on Oil Tankers, China 'Teapot' Refinery
The U.S. issued new Iran-related sanctions, targeting entities including for the first time a Chinese "teapot," or independent refinery, and vessels that supplied crude oil to such processing plants.
Energean Says Regulatory Approvals Delay Puts Carlyle Deal at Risk
Failure to meet these conditions may lead to the termination of the deal.
US NatGas Dominance Collides with Permitting, Tariffs, Layoffs
Executives at BP, Sempra Infrastructure and the American Petroleum Institute weighed in on U.S. natural gas prowess and the obstacles that could stand in the way: snagged permitting, prohibitive steel tariffs and layoffs of federal workers needed to approve projects.
Kissler: Is it Time to Worry About Crude Prices?
Oil trends will hinge on China’s economy, plans to refill the SPR and how tariff threats play out.
Continental Resources Signs JV to Explore Shale Oil, Gas in Turkey
Early evaluations from the joint venture between Continental Resources, Türkiye Petroleum and TransAtlantic Petroleum suggest ultimate recoverable reserves could reach 6 Bbbl of oil and 32 Tcf to 65 Tcf of gas.
What's Affecting Oil Prices This Week? (March 10, 2025)
Prices were weighed down by concerns about economic growth, in part, because of more tariffs being imposed by the Trump administration, and OPEC+ reiterating that its production cuts would start unwinding in April.
Hunting Buys EOR Technology Rights from Its Founding Shareholders
Hunting Plc is acquiring the rights to organic oil recovery, an EOR technology—including 25 patents and distribution rights—from its founding shareholders.