Industry News

Oil prices surged after renewed military action between the US and Iran reignited concerns over Middle East energy supplies.

Bahri registered 'higher freight rates and increased vessel chartering activity to meet growing customer demand'.

Saipem has announced, in statements posted on its website, more than $3 billion worth of contract awards by Eni this month alone.

The Italian state-backed energy major increased its share repurchase program for 2026 by 20 percent from the previous guidance to EUR 3.4 billion, buoyed by the elevated oil price environment.

President Donald Trump said the U.S. would hit Iran hard after a recent attack that targeted a military base in Jordan.

Turkish Petroleum signed an agreement with BP to join prospective oil redevelopment in the Kurds-claimed province of Kirkuk in Iraq.

In a statement sent to Rigzone this week, Wood Mackenzie said the oil and gas industry is 'cash rich but capital cautious'.

Australia's EnZed Energy won the first oil and gas exploration license issued in New Zealand after the government last year reversed a 2018 ban.

Why is oil up today?

Abu Dhabi National Oil Co is pushing on with liquefied natural gas exports from its Persian Gulf plant, even as renewed hostilities in the region force producers to curb visible traffic through the Strait of Hormuz.

Prime Minister Anthony Albanese Tuesday announced a study for a new refinery in Karratha in Western Australia, backed by A$4 million ($2.8 million) of government funds.

Crude futures posted their biggest three-day decline since 2020 as hopes for diplomacy with Iran reduced supply concerns.

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

Trump has signaled support for the measure, which had been championed by the late Senator Lindsey Graham.

A bipartisan group of senators announced a deal Tuesday.

Over a dozen states and the District of Columbia protested a proposed 'rulemaking' by the Federal Energy Regulatory Commission to broaden the kinds of gas pipeline projects that qualify for review exemptions.

Baker Hughes saw 'robust demand across Power Systems and LNG, with particularly strong momentum in power generation'.

Oil prices dropped yesterday and today as the market rapidly stripped out its Iran war premium, Petros Pantzari, Chief Dealer at Monaxa, said.

The shipment of about 300,000 barrels will be delivered to a refinery in Incheon.

Tributes have poured in for Sir Ian Wood following news that the Aberdeen-based businessman has passed away.