Industry News

International Energy Agency Executive Director Fatih Birol pressed the European Union to revisit its moratorium on drilling for oil and gas in the Arctic.

The country pumped 4.1 million barrels a day on average in June, the International Energy Agency said in its monthly report.

'The Outer Continental Shelf presents a significant opportunity to support the future of America's space economy', Acting BOEM Director Matt Giacona said.

Venezuela's interim government published long-awaited oil regulations on Thursday.

Chevron signed a new agreement to supply 46 petajoules of Western Australian natural gas to Alinta over five years.

The EIA lowered its U.S. regular gasoline price projection for both 2026 and 2027 in its latest short term energy outlook.

Macquarie strategists said they expect the renewed tension in the Middle East between the U.S. and Iran to be 'relatively short-lived'.

ADNOC and Mitsui will explore collaboration in 'crude oil market development and long-term supply, LNG sales and optimization, sulfur procurement and logistics, and shipping solutions for LNG, ammonia, sulfur and other commodities', ADNOC said.

State-owned Israel Natural Gas Lines completed a project to expand the pipeline system that delivers Israeli natural gas to Egypt.

The board of the country's largest oil-and-gas producer gave the green light to add 1.75 million tons of capacity in Mangalore, Karnataka, to national crude reserves.

A small crypto startup is trying to persuade the industry to experiment with a different kind of frontier: putting a barrel of oil on a blockchain.

Oil prices fell as traders bet the US-Iran conflict would remain limited.

London marine insurers have been seeing fewer inquiries for journeys to transit the Strait of Hormuz and some said the cost of cover had risen.

The U.S. Energy Information Administration revealed its latest oil price forecast for 2026 and 2027 in its July short term energy outlook.

The new loan is on top of a $1.6-billion loan guarantee that AEP earlier secured from the Trump administration's Energy Dominance Financing Program.

Crude oil stocks, not including the SPR, stood at 411.4 million barrels on July 3, the EIA's latest weekly petroleum status report showed.

Jorge Leon, Head of Geopolitical Analysis at Rystad, noted that tanker traffic through the Strait of Hormuz had 'essentially stopped'.

U.S. Central Command said its forces completed another round of strikes 'to further degrade' Tehran's ability to attack commercial shipping in the Strait of Hormuz.

'TotalEnergies will be the sole offtaker of LNG during the ramp-up phase'.

Nearly 23 percent of Ruwais LNG's 9.6 MMtpa capacity has been offtaken by Japanese customers, ADNOC said.