Industry News

Crude rallied as new shipping disruptions overshadowed expectations of increasing global oil supplies and weaker demand.

Nearly three dozen conservatives - including Trump's longtime allies - are pushing the House to overturn biofuel-blending quotas imposed by his administration.

Vitol and International Resources Holding finalized a 20-year agreement for Vitol to supply 1 million metric tons per annum of liquefied natural gas to the trading arm of the metals and minerals mining company.

Preliminary calculations for the gas and condensate discovery indicate recoverable resources of 21-107 million barrels of oil equivalent.

'Today we have the opportunity to create one of the most important gateways to the global LNG market in Central and Eastern Europe'.

Expected to produce up to 1.5 billion cubic feet a day of gas, the project represents 'the largest gas cap development of its kind globally', BP said.

Dangote Petroleum Refinery and Petrochemicals' plan to raise as much as $2 billion in Africa's biggest IPO has sparked an investor frenzy across Nigeria, drawing interest from some of the country's wealthiest people to first-time investors.

Qatar has joined other Persian Gulf nations in reviving crude oil sales, with regional producers cranking up activity as peace talks between the US and Iran progress.

Despite historically low US crude inventories, traders focused on improving Middle East supply flows and growing signs of potential oversupply.

Shippers can transit the Strait of Hormuz via Iranian or Omani and US-coordinated waters, according to the International Maritime Organization, part of a broader plan to evacuate stranded vessels.

'For the first time at this scale, BESS procurement, financing and execution have been coordinated across multiple jurisdictions under a single integrated framework, linking manufacturing allocation directly to project delivery'.

'The transaction represents a further step in the implementation of Saipem's strategy aimed at focusing its portfolio on deepwater and harsh-environment offshore drilling'.

Woodside executed an agreement with Alcoa to supply the alumina maker with 31.1 petajoules of Western Australian natural gas from 2027 to 2030.

The affected companies - including Baker Hughes, Halliburton and SLB - imposed a legal work halt to force the workers into agreeing to terms proposed under government mediation.

The countries asked for a 'pragmatic approach' to clarifying the rules and adopting changes to allow importers to continue to obtain oil and gas needed by the EU.

Asian refiners have slowed purchases of Middle Eastern crude after a buying spree over the past three weeks, with oil majors and traders stepping in to take some of the surplus barrels.

Oil prices fell as more tankers resumed transiting the Strait of Hormuz and additional supplies entered the market following the US-Iran interim peace deal.

Qatar said it doesn't expect liquefied natural gas exports to be impacted by an explosion at the Ras Laffan industrial complex which left 13 dead and 66 injured.

The first production wells are now delivering 20,000 barrels per day gross.

The Greater PAJ Project will deploy a new FPSO with a nameplate capacity of 95,000 barrels per day of oil and a gas export capacity of 70 million cubic feet a day of gas, to be supplied to Angola LNG.