Industry News

A growing flotilla of Iranian oil tankers is gathering off the country's coast.

Oil fell for a third day as optimism over a potential Strait of Hormuz shipping agreement outweighed ongoing geopolitical risks.

'The new program represents a major advancement for the RRC', the Texas oil regulator stated.

'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 requested the U.S. Federal Energy Regulatory Commission to begin a pre-filing review of the Texas project.

ADNOC put into service a Real-Time Operations Center powered by artificial intelligence, streamlining management for over 120 onshore and offshore rigs.

Macquarie strategists revealed that they are forecasting that U.S. crude inventories will be up for the week ending July 31.

The regasification terminal will enable LNG export to New Providence by yearend.

'EIR finds that global oil markets remain structurally tight despite recent price volatility', the company said.

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.

Saudi Arabia wants to contain a renewed conflict with Houthi militants through behind-the-scenes diplomacy, according to people familiar with the matter, in a bid to prevent clashes with the Iran-backed group hurting its oil industry and economy.

Oil prices tumbled as hopes for a US-Iran agreement raised expectations that shipping through the Strait of Hormuz could resume more normally.

North America added 16 rigs week on week, according to Baker Hughes' latest North America rotary rig count.

The prospect of an interim deal focused on the Strait of Hormuz gained traction.

The prospect of a deal between the U.S. and Iran appeared to be gaining traction on Tuesday.

Saudi Aramco reported a 33 percent increase in second-quarter profit as it benefited from a war-driven surge in oil prices.

Saudi Aramco said it is looking at options to expand its oil export capacity as the Iran war disrupts flows through the Strait of Hormuz and Houthi rebels threaten shipments in the Red Sea.

The divestment by EnCap Flatrock is one of 'the most significant private midstream transactions in the U.S.'

Crescent expects its full-year production to range from 327,000 barrels of oil equivalent a day to 335,000 boed, of which 40-42 percent would be oil.

'By later this week, the national average could reach its highest level ever recorded for this point in the calendar year', Patrick De Haan, Head of Petroleum Analysis at GasBuddy, warned.