Industry News

October is beginning to look a lot like April for the oil market, analysts at J.P. Morgan said.

Oil tankers with links to Japan appear to be picking up Middle East cargoes directly in the region once again, a tentative but significant return for the first time since the war began in February that speaks to soaring freight and logistics costs.

Brent settled above $106 amid escalating Middle East tensions and uncertainty over a Russia-Ukraine energy truce.

Japanese Trade Minister Ryosei Akazawa called for stronger cooperation between oil-producing and consuming countries as well as greater oil stockpiling and infrastructure development in Asia.

TotalEnergies and KKR agreed to expand their 50:50 solar joint venture in the United States to 2,100 megawatts.

Matador Resources completed the acquisition of two portfolio companies of EnCap Investments that are operating in the Delaware Basin.

North America added 11 rigs week on week, according to Baker Hughes' latest North America rotary rig count.

Ukrainian President Volodymyr Zelenskyy is on a collision course with President Donald Trump.

'The transaction supports the continued maturation of Bay du Nord towards an investment decision currently targeted for early 2027'.

'Pertamina's participation as the national oil and gas company in these assets is expected to directly support and accelerate the Kutei North Hub Project (North Ganal and Rapak blocks)'.

The number of employees in the oil and gas extraction industry hit a post pandemic September low, data on the U.S. Bureau of Labor Statistics website showed.

The energy market continues to mistake adaptation for normalization, Standard Chartered Bank Energy Research Head Emily Ashford said.

Saudi Arabia's ability to supply energy remains resilient amid major market and security turmoil, Energy Minister Prince Abdulaziz bin Salman said, as the kingdom suffers attacks on energy and aviation infrastructure.

Eni completed installing what it said is 'the first purpose-built offshore platform dedicated to carbon capture and storage for industrial decarbonization in the world'.

Russia's oil product shipments climbed to a three-month high in September.

Oil prices edged higher as Middle East tanker attacks and Hurricane Isaias heightened supply concerns.

Australia is set to unveil the final version of a controversial plan to force liquefied natural gas producers to reserve as much as a fifth of their output for local buyers.

'Selling a relatively mature asset into a strong commodity price environment improves our go-forward capital efficiency and allows us to accelerate share buybacks, strengthen our balance sheet and increase long-term value for shareholders'.

With a projected capital of $3.5 billion, the agreed program for the onshore Cabimas and Delta blocks forecasts production of up to 150,000-160,000 bpd for over 10 years.

Commercial crude oil stocks, not including the SPR, came in at 424.134 million barrels on October 2, the EIA revealed.