Eni Greenlights Cyprus' First Hydrocarbon Project
Expected to start production 2028, the Cronos field is designed to produce up to 500 million cubic feet per day of gas, which will be processed into liquefied form in Egypt for export mainly to Europe.
Oil Tankers Reroute to Egypt amid Houthi Threat
Empty supertankers are heading to Egypt's Mediterranean port of Sidi Kerir to collect Saudi crude as observable traffic at the kingdom's key Red Sea export hub dwindles following threats from Houthi militants.
Brent Tumbles Nearly 9% on Diplomacy
Oil prices plunged as the US paused strikes on Iran and supply concerns eased with resumed Kazakh exports.
Expand Energy to Buy Twin Eagle for $1.25B
Expand Energy Corp. agreed to buy gas marketer Twin Eagle Holdings NA LLC from private equity firm Five Point Infrastructure for $1.25 billion.
Halliburton Bags Spate of Middle East Contracts in July
Halliburton announced a spate of contract awards in the Middle East this month.
Brookfield to Acquire Blackstone BESS Portfolio in North America
The transaction represents an enterprise value of around $7 billion and an equity value of $3 billion.
CPC Oil Terminal Resumes Kazakh Crude Exports
The main terminal for exporting Kazakhstan's oil resumed loadings after drone attacks on vessels caused an output cut last week.
Oil Price Action Telling a Nuanced Story, JPM Says
'Price action...is telling a more nuanced story', J.P. Morgan analysts said.
US DOE Seeks Innovations on Pipeline Efficiency, By-Product Conversion
The Energy Department launched a funding opportunity of up to $65.5 million for research, development and deployment projects that maximize pipeline productivity and value creation from oil and gas by-products.
Woodside's Browse Gas Project Declared State Priority
The Western Australian government granted the Browse to North West Shelf Project, which would connect three offshore fields to the existing Karratha plant, a State Significant Project status, operator Woodside said.
Brent, WTI Oil Prices Both Down Over 5 Percent
'The immediate decline reflects a reduction in the geopolitical premium', Naeem Aslam, CIO at Zaye Capital Markets, said.
Kuwait Agrees $16B Pipeline Leaseback with Blackstone, Brookfield, KKR
Kuwait Petroleum signed a record $16-billion partnership agreement allowing three major North American investors to own minority stakes in its entire domestic and export pipeline network.
Lull in Fighting as Iran Holds Hormuz Talks with Oman
The U.S. paused an almost two-week run of strikes against Iran for a second night while the Islamic Republic signaled it was refraining from any retaliatory attacks and held talks with Oman over the Strait of Hormuz.
Eni to Acquire Prax Stations in 4 Countries
The transaction will give the Italian energy major about 320 service stations across Austria, Denmark, Germany and Switzerland.
Global Inflation Angst Is Back
Spiking energy prices, more U.S. tariffs, and mushrooming spending on artificial intelligence are reawakening investors' inflation fears.
Brent Pulls Back From $100
Crude declined after reports on US-Iran diplomacy and continued Red Sea oil flows reduced immediate supply concerns.
SLB Climbs Most in 6 Months
SLB, the world's biggest oil field services provider, rose the most in more than six months.
SLB Sees Growth Broadening Beyond Mideast
The company, which helps clients drill oil wells and map underground pockets of crude, said the conflict is encouraging customers to spread investment across more regions.
USA Crude Oil Stocks Rise Week on Week
Crude oil stocks, not including the SPR, stood at 411.7 million barrels on July 17, the EIA's latest weekly petroleum status report showed.
Santos Narrows 2026 Production Forecast
The Australian company narrowed its output guidance for the year from 101-111 million barrels of oil equivalent to 99-105 MMboe, despite ramp-up at the Barossa and Pikka oil and gas projects.
