The latest oil and gas news from around the world.
Updated: 33 min 10 sec ago
Oil Rises as Iran Deal Optimism Fades
Oil rose as doubts grew that an Iran-Oman deal would quickly restore normal shipping through the Strait of Hormuz.
Ukraine Says It Hit 2 Russian Oil Refineries Overnight
Ukraine struck two of Russia's oil refineries overnight.
Aramco Flags 'Historical Supply Constraints'
Aramco revealed that it achieved total hydrocarbon production of 9.5 million barrels of oil equivalent per day in the second quarter 'despite historical supply constraints'.
Saudis Cut Key Oil Price Again
Saudi Arabia cut its main crude oil price as some Persian Gulf producers continue to send barrels through the Strait of Hormuz.
How Did USA Upstream M&A Activity Look in 2Q 2026?
Enverus Intelligence Research announced that U.S. upstream merger and acquisition activity slowed in the second quarter.
Phillips 66 Profit Soars
Phillips 66 posted increases in refining margins, plant utilization and natural gas liquids pipeline and fractionation volumes.
What Has Been the One Constant Through Hormuz Turmoil?
There has been one constant through it all, the S&P Global Energy Crude Oil Markets team outlined.
Occidental Beats Expectations for Q2
Occidental reported $2.4 billion in net profit adjusted for nonrecurring items for the second quarter, up from $1.1 billion for the prior three-month period on higher oil prices.
Philippines to Launch RE Auction for Off-Grid Islands
The Department of Energy expects to launch a Green Energy Auction next year to migrate off-grid island communities from diesel power to solar power supported with battery energy storage.
UAE Bucks Risks to Lead Hormuz Oil Shipping
The United Arab Emirates has moved more oil through the Strait of Hormuz than any other producer over the past two months, providing a much-needed buffer for global markets reeling from a historic energy crisis.
Dozens of Idling Iranian Tankers Show USA Blockade Is Working
A growing flotilla of Iranian oil tankers is gathering off the country's coast.
Oil Extends Losses on Hormuz Talks
Oil fell for a third day as optimism over a potential Strait of Hormuz shipping agreement outweighed ongoing geopolitical risks.
Texas Oil Regulator, Uni Team Up for Inspector Training
'The new program represents a major advancement for the RRC', the Texas oil regulator stated.
Wright Says Fuel Shipping Waiver Extension 'Quite Likely'
'I think another temporary extension of the Jones Act waivers are quite likely to happen', Energy Secretary Chris Wright said during a media briefing at the Port of Brownsville in Texas.
Coastal Bend LNG Enters Permitting Phase
Coastal Bend LNG requested the U.S. Federal Energy Regulatory Commission to begin a pre-filing review of the Texas project.
ADNOC Deploys AI-Powered Rig Operations Center
ADNOC put into service a Real-Time Operations Center powered by artificial intelligence, streamlining management for over 120 onshore and offshore rigs.
Strategists Expect USA Crude Build in Next EIA Report
Macquarie strategists revealed that they are forecasting that U.S. crude inventories will be up for the week ending July 31.
ECOnnect Energy to Deliver Shell-Backed LNG Project in Bahamas
The regasification terminal will enable LNG export to New Providence by yearend.
EIR Still Sees Oil at $100 in H2, 2027
'EIR finds that global oil markets remain structurally tight despite recent price volatility', the company said.
ORLEN Opens Transshipment Terminal at Gdansk Refinery
With a handling capacity of 1.8 million metric tons of cargo annually, the project eliminates the need for intermediate transport for crude feedstock and oil products between tankers and the refinery.
