Industry News

Oil fell to five-month lows after Saudi Arabia sharply cut its flagship crude prices.

Russia's flagship crude price has slid to levels seen before the conflict in the Middle East.

Respect Energy signed a six-year agreement to buy 100 percent of the power generated, as well as guarantees of origin, from four Uniper photovoltaic projects with a combined capacity of 219 megawatts peak in Poland.

Ukraine struck three Russian refineries, including the country's biggest.

JERA Nex bp, the 50:50 offshore wind joint venture of Japan's JERA and Britain's BP, completed the purchase of Sumitomo's stakes in two Belgian offshore wind facilities with a combined capacity of 384 megawatts.

Rigzone examines the Energy Institute's latest statistical review of world energy report, which was released recently.

Enverus announced that it has published its annual list of 'the 100 most prolific private oil and gas producers in the United States'.

'Seven OPEC+ countries ... met virtually on 5 July 2026, to review global market conditions and outlook,” a statement posted on OPEC's site highlighted.

Shell and nine Nigerian banks launched a $3-billion Contract Finance Facility for local companies executing projects for the British energy giant in the West African country.

ADNOC's new LNG marketing and trading platform targets 47 million metric tons per annum in marketed volumes by 2035.

Oil and gas shipping along a U.S.-protected corridor in the Strait of Hormuz showed signs of recovering, after a batch of vessels performed unexplained U-turns and detours in the vital energy corridor.

'This agreement will support the government's visionary South Australian Strategic Gas Reserve that will help ensure South Australia's industrial future and energy security, including the planned sale and transformation of the Whyalla Steelworks'.

Russia's subsidy payouts to oil refiners that supply domestic markets jumped more than six-fold in June from a year earlier.

U.S. crude refiners are enjoying some of the best profit margins in years.

'Our goal is simple', RRC Commissioner Wayne Christian said.

China called for the unhindered flow of shipping through the Strait of Hormuz.

Alberta's government said it had applied to list the West Coast Oil Pipeline project, a new gateway for the province's oil sands to British Columbia and eventually Asia, as a project of national interest.

Rigzone examines the Energy Institute's latest statistical review of world energy report, which was released recently.

The partners continue to each own 50 percent in the Gippsland Basin Joint Venture, which supplies about 40 percent of gas needs on Australia's east coast, and 32.5 percent in the Kipper Unit JV, Woodside said.

QatarEnergy and ExxonMobil signed a 'commercial discovery declaration' with the Cypriot government for two discoveries in Block 10 in the Mediterranean Sea.