Current Headlines
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New API Report Highlights Broader Global Adoption Of API Standards
2/4/2025
The American Petroleum Institute (API) today released a new report, 2025 API Standards International Usage Report, detailing the growing international influence of API standards.
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58th Meeting Of The Joint Ministerial Monitoring Committee
2/3/2025
The JMMC reviewed the crude oil production data for the months of November and December 2024 and noted the high overall conformity for OPEC and non-OPEC countries participating in the Declaration of Cooperation (DoC). The improved conformity further reaffirms the DoC countries’ shared objectives of unity and cohesion.
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Ecopetrol And OXY Agree To Extend Their Development Plan In The Midland Area Of The Permian Basin
2/3/2025
Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC) announces that Ecopetrol Permian LLC ("Ecopetrol Permian") and Occidental Petroleum Corp ("OXY"), have reached an agreement to extend the development plan of Rodeo Midland Basin LLC, located in the Permian Basin (Texas, USA), under the joint-venture established in July 2019.
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Baker Hughes Secures Major Chemicals Award From ExxonMobil Guyana For FPSOs
2/3/2025
Baker Hughes (NASDAQ: BKR), an energy technology company, announced Monday a significant award from ExxonMobil Guyana to provide specialty chemicals and related services for its Uaru and Whiptail offshore greenfield developments in Guyana’s prolific Stabroek Block.
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API Statement On Tariffs On Canada, Mexico And China
2/1/2025
The American Petroleum Institute issued the following statement from President and CEO Mike Sommers on the Trump administration’s decision to impose tariffs on U.S. imports from Canada, Mexico and China.
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Crescent Energy Closes Accretive Central Eagle Ford Bolt-On
1/31/2025
Crescent Energy Company (“Crescent” or the “Company”), today announced the closing of its acquisition of Central Eagle Ford assets from Ridgemar Energy for upfront consideration of $905M, consisting of $830M in cash and 5,454,546 shares of Class A common stock, plus future oil price contingent consideration, subject to customary purchase price adjustments.
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Ovintiv Announces Closing Of Montney Asset Acquisition
1/31/2025
Ovintiv Inc. ("Ovintiv" or the "Company") today closed the previously announced acquisition of certain Montney assets from Paramount Resources Ltd.
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Halliburton Secures Major Offshore Drilling Contract With Petrobras
1/30/2025
Halliburton announced today a contract award from Petrobras for integrated drilling services across several offshore fields in Brazil, the result of a competitive process.
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API Statement On Confirmation Of Lee Zeldin As EPA Administrator
1/29/2025
American Petroleum Institute (API) President and CEO Mike Sommers issued the following statement on the Senate’s confirmation of former Congressman Lee Zeldin to lead the U.S. Environmental Protection Agency.
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Cummins And Liberty Energy Partner To Develop And Deploy Industry-First Variable Speed, Large Displacement Natural Gas Engine Powered Hydraulic Fracturing System
1/29/2025
Cummins Inc. and Liberty Energy Inc. (“Liberty”) today announced that the industry’s first natural gas variable speed, large displacement engine to power Liberty’s digiPrime hydraulic fracturing platform will be deployed in the first half of 2025.