Employment in the Texas upstream sector increased between November and December 2025. That’s what the Texas Independent Producers and Royalty Owners Association (TIPRO) said in a statement sent to Rigzone on Friday, which cited the latest Current Employment Statistics (CES) report from the U.S. Bureau of Labor Statistics (BLS) at the time. TIPRO highlighted in the statement that oil and natural gas extraction jobs rose by 500, or 0.7 percent, month on month, to 70,200, and support activities employment grew by 1,500, or 1.1 percent month on month, to 133,200. TIPRO reported in the statement that combined upstream employment increased by 2,000 jobs, or 1.0 percent month on month, to 203,400. “From January to December 2025, employment in the Texas upstream sector showed early gains followed by later fluctuations,” TIPRO said in the statement. “Oil and Gas Extraction added a net 2,000 jobs (+2.9 percent), reaching a peak of 70,200 in June, July, and December, driven by robust Permian production despite market pressures,” it added. “Support Activities employment recorded a net loss of 2,100 jobs (-1.6 percent), with a February0May surge (+2,800) partially offset by mid-year declines (-3,400 in June-July) and subsequent volatility, reflecting rig count reductions and service sector adjustments,” it continued. “Combined, the sectors ended essentially flat, with a net change of -100 jobs (-0.05 percent), reaching 203,400 by December and underscoring the industry’s critical yet volatile role in sustaining Texas’ energy workforce,” TIPRO noted. In the statement, TIPRO said its workforce data “continues to indicate strong job postings for the Texas oil and natural gas industry in December” but added that analysis “revealed a continued decline in Q4 driven by lower oil prices, industry consolidation, and ongoing efficiency gains, which allow companies to maintain or increase production with reduced hiring activity”. There were 7,887 unique industry job postings in Texas during the

In an oil and gas report sent to Rigzone by the Macquarie team prior to the release of the U.S. Energy Information Administration’s (EIA) weekly petroleum status report, Macquarie strategists revealed that they are forecasting that U.S. crude inventories will increase week on week. “We are forecasting U.S. crude inventories up 1.9 million barrels for the week ending January 30,” the strategists, including Walt Chancellor, said in the report. “This follows a 2.3 million barrel draw in the prior week, with the crude balance realizing tighter relative to our expectations,” they added. “For this week’s stats, we see significant room for volatility due to winter storm impacts on oil production, refinery runs, and product demand,” they continued. “In any event, for the week ending 1/30, from refineries, we look for another reduction in crude runs (-0.3 million barrels per day), with storm effects and turnaround timing adding noise to the picture,” they noted. “Among net imports”, the strategists said in the report that they “model a large increase, with exports sharply lower (-1.0 million barrels per day) and imports sharply higher (+0.8 million barrels per day) on a nominal basis”. The strategists warned that timing of cargoes remains a source of potential volatility in the weekly crude balance. They went on to state in the report that, “from implied domestic supply (prod.+adj.+transfers)”, they “look for a large nominal reduction (-1.6 million barrels per day) following a strong print in the prior week and accounting for freeze impacts”. “Notably, while visibility on the ultimate impact of last week’s freeze event remains limited, we believe oil production has largely recovered to this point. Rounding out the picture, we anticipate a smaller increase (+0.2 million barrels) in SPR [U.S. Strategic Petroleum Reserve] stocks for the week ending 1/30,” they added. “Among products, we

Equinor ASA reined in its share buyback after fourth-quarter profit missed analyst estimates amid a drop in oil and gas prices. The Norwegian energy giant will repurchase as much as $1.5 billion of shares this year, down from $5 billion in 2025, the company said Wednesday. Profit slumped by almost a third year-on-year. Equinor was among many oil and gas producers to funnel surplus cash to shareholders after Russia’s 2022 invasion of Ukraine drove up energy prices, generating massive profits for the industry. Some companies are now seeking to scale back payouts after the markets weakened amid plentiful supplies. “We are coming out of a supercycle in natural gas,” Equinor Chief Financial Officer Torgrim Reitan said in a Bloomberg Television interview. “This is the first year where we are normalized, where we have to manage within our means and this is a normal level.” Adjusted operating income after tax dropped to $1.55 billion, falling short of the $1.59 billion average estimate. Equinor is the first of Europe’s major energy companies to report quarterly numbers, and the results may set the tone for the earnings season. Oil closed out the year with its steepest annual loss since 2020. European gas also posted a sharp annual decline.   At Equinor, the impact of lower prices was mitigated by a strong quarter for its midstream unit and an increase in oil and gas production at home and abroad, with full-year volumes rising to a record. The company’s new Johan Castberg field and Brazil’s Bacalhau development both contributed to the gain, and Equinor sees output growing about 3% this year. Equinor’s marketing, midstream and processing, or MMP, business reported adjusted operating income of $678 million following a boost in third-party volumes. The company in October revised its quarterly guidance for the unit, saying it would target earnings of “around $400 million

Oil edged higher after US and Iranian forces appeared to square off in the sea and air, heightening concerns about an escalation in tensions. West Texas Intermediate rose to settle above $63 a barrel after an Iranian drone approached an American aircraft carrier in the Arabian Sea and was shot down. The episode restored some geopolitical risk premium that had ebbed in recent days amid signs Washington was softening its stance on Tehran. Futures pared some gains after White House Press Secretary Karoline Leavitt said US President Donald Trump wants to pursue diplomacy “first” with Iran. Prices advanced in post-settlement trading, rising as much as 3.3%. The development came hours after an oil tanker that is part of a US military fuel procurement program was hailed by Iranian ships in the Strait of Hormuz, evincing renewed risks to maritime traffic in the region. Tanker rates have soared in recent days over concerns about the Hormuz chokepoint through which about one-third of the world’s oil flows. The events underscore how recent US moves toward diplomacy with Iran reflect not a desire to deescalate but a calculation that Washington has sufficient leverage to strong-arm Tehran into a nuclear agreement, among other demands, according to Gregory Brew, geopolitical analyst at the Eurasia Group. He estimates that a $3 to $5 risk premium is currently baked into prices. Leavitt’s comments are likely an attempt “to brush off efforts by the Iranians to destabilize the environment, because the environment right now is favorable to the US,” Brew added. Still, Tuesday’s episode whipsawed investors who had been watching moves that suggested the US was steering clear of military strikes on the country over its nuclear program and handling of recent protests. Trump earlier said talks could begin within days after Tehran signaled it was ready to

WASHINGTON—The U.S. Department of Energy (DOE) today announced the chair and members of the newly established Office of Science Advisory Committee (SCAC), a unified advisory body that will provide independent advice on complex scientific and technical challenges across the Department’s Office of Science. Today’s announcement advances the Department’s implementation of President Trump’s Executive Order Restoring Gold Standard Science as the cornerstone of federal research—ensuring that the Department and its National Laboratory systems’ science is collaborative, transparent, and guided by evidence to rebuild public trust in science. As DOE modernizes and strengthens its scientific enterprise, SCAC will provide expert input to help inform priorities, improve coordination, and address cross-cutting research challenges across the Office of Science. “The establishment of SCAC underscores the Department’s commitment to scientific integrity and the power of partnership,” said DOE Under Secretary for Science Darío Gil. “By bringing together leading minds from diverse institutions, we’re forging a collaborative framework that will not only enhance our scientific endeavors but also accelerate the translation of fundamental research into tangible benefits for the American people. This committee exemplifies how shared vision and collective expertise are essential for navigating the complex scientific landscape of today and tomorrow.” Members of SCAC, appointed by Under Secretary Gil, represent the full breadth of Office of Science research, drawing expertise from leaders across academia, industry, science philanthropy, and the Department’s National Laboratories. The Committee will help the Office of Science adapt to a rapidly evolving research landscape and address interdisciplinary challenges in a streamlined and flexible manner. It will also provide advice on initiatives that are priorities for the entire Office, including the Genesis Mission, scientific discovery, fusion energy, and quantum science. SCAC will be chaired by Persis Drell, professor of materials science and engineering and physics at Stanford University, provost emerita of Stanford, and

Listen to the article 4 min This audio is auto-generated. Please let us know if you have feedback. Dive Brief: Transmission planning and development is improving in most parts of the United States, driven by new federal planning requirements, according to a report released Tuesday by Americans for a Clean Energy Grid. New England’s grade jumped to a “B” from the “D+” it received in the benchmark report ACEG issued in 2023. However, the grade for Texas slipped to a “D-” from a “D+” two years ago, and the grade for the Southeast remained unchanged at “F.” “In the Southeast, a key hurdle for regional transmission planning is the lack of access to information and transparency,” Grid Strategies, which wrote the report, said. “Beyond the projects under development in Georgia, there is resistance to building large, high-voltage transmission.” Dive Insight: Transmission planning and development grades by region. Permission granted by Americans for a Clean Energy Grid “Transmission planning works when it’s proactive, coordinated, and long-term,” Christina Hayes, ACEG executive director, said in a press release. “The challenge now is scaling those successes fast enough — across and between regions — to keep electricity affordable and reliable for all Americans as demand continues to grow.” Regional transmission planning reforms from Federal Energy Regulatory Commission’s Order No. 1920 are beginning to take hold, and early progress is visible in several regions, Grid Strategies said in the report. “However, many regions continue to fall well short of best practices, and progress remains uneven relative to the scale and urgency of today’s transmission needs,” Grid Strategies said. The report comes amid surging load growth forecasts, which could lead to short-term, inefficient transmission fixes, it says. The report’s authors call for the power sector to embrace long‑term regional and interregional planning. “Proactive, holistic long‑term planning that also