Fitch Ratings Says Global Oil, Gas Sector Outlook is ‘Deteriorating’
Fitch Ratings changed its outlook on the global oil and gas sector from neutral to deteriorating, citing U.S. tariff policy and production increases for the revised forecast.
E&P Highlights: June 2, 2025
Here’s a roundup of the latest E&P headlines, including an oil discovery in Norway and a wildfire in Canada shutting in oil-sands operations.
Latin America Playing Small Ball—at Steep Prices—for LNG
Gas sold at a Henry Hub prices of $3.50/MMBtu in the U.S. can fetch between $10/MMBtu to $14/MMBtu in Latin America.
A Critical Time in the Critical Minerals Space
The Trump administration is trying to position direct lithium extraction, deepsea mining and battery materials-focused companies to grow domestic resources and loosen China’s grip on the global supply chain.
Chile Taps Miner Rio Tinto for Major Lithium Project
The Salares Altoandinos lithium project in Chile has more than 15 million tons of lithium carbon equivalent, state-owned Empresa Nacional de Minería says.
Touchstone Exploration Closes Shell Trinidad Acquisition
Touchstone Exploration agreed to purchase 100% of the share capital of Shell Trinidad Central Block Ltd., which holds a 65% participating interest in the onshore Central Block E&P license in Trinidad.
SLB OneSubsea, Subsea7 Secure EPCI for BP’s Ginger Project
SLB OneSubsea and Subsea7 were awarded an engineering, procurement, construction and installation contract for BP’s Ginger project off the southeast coast of Trinidad.
TotalEnergies Seeks Permit for $16B Green Hydrogen Project in Chile
Subsidiaries of energy major TotalEnergies have applied for an environmental permit for a $16 billion green hydrogen and ammonia project in southern Chile.
EOG Resources Bolts-On 30,000 Acres in Eagle Ford for $275MM
EOG Resources said it bolted on undeveloped core Eagle Ford Shale acreage in Atascosa County, Texas, and made a discovery offshore Trinidad.
Oman Government, Amigo LNG Sign Long-Term Supply Deal
Oman’s commodity trading business, OQ Trading, has signed a 15-year LNG sales and purchase agreement with Amigo LNG, the Mexico subsidiary of Singapore’s LNG Alliance.