Industry News

BP expects the high-price environment to 'increase the dislocation between marker prices versus actual prices realized by BP in 1Q 2026 and increase the impact of price lags'.

SEB Commodities Analyst Ole R. Hvalbye issued an oil market warning.

The U.S. and Iran are looking to arrange a second round of peace talks in the coming days, with Tehran mulling a pause in shipments through the Strait of Hormuz to help ease the path toward an agreement on time and place.

While they mark the first direct talks between the two Middle Eastern countries in more than three decades, few officials expect an immediate positive outcome.

Italian Premier Giorgia Meloni said it was too early to consider tapping Russian gas.

Oil prices fell sharply as signs of renewed US-Iran talks reduced immediate supply fears.

Eni announced a 'significant' gas and condensate discovery offshore Egypt.

Oil futures dipped on the news.

Uniper and NGEN began construction for a 50-MW battery energy storage project on the site of Uniper's former coal power plant in Wilhelmshaven, Germany.

North America dropped 10 rigs week on week, according to Baker Hughes' latest North America rotary rig count.

The power and gas utility acquisitions add about 1.2 million customers to Eni's Plenitude.

'Namibia is a region attracting growing industry interest and has a number of exciting frontier basins'.

The Strait of Hormuz is now essentially fully closed, SEB Chief Commodities Analyst Bjarne Schieldrop said.

The European Commission is consulting member states on a draft proposal to relax state aid limits, aimed at protecting market competition, in response to spikes in energy prices brought about by the Middle East war.

The U.S. and Iran are weighing further negotiations to extend a two-week ceasefire as President Donald Trump presses ahead with a naval blockade to curb the Islamic Republic's oil exports.

Analysts warn current prices understate the severity of supply disruptions and recovery timelines.

Iran said it would target all ports in and close to the Persian Gulf if its own shipping hubs are threatened.

India more than doubled export duties on diesel.

Eni committed $70 million in equity investment to Nouveau Monde Graphite and plans to place an order of 15,000 tpa of graphite concentrate from phase 2 of NMG's Matawinie Mine project in Canada.

State-owned Petrobras will assume full ownership by acquiring Malaysian counterpart Petronas' 50 percent stakes for $450 million.