Industry News

OMV Petrom shareholders approved around $2.07 billion in investment for 2026, mostly for the Neptun Deep gas project on the Romanian Black Sea.

'Woodside has a strategy of securing term shipping for annual average delivery commitments and therefore has limited exposure to volatile spot LNG carrier rates'.

Macquarie strategists, including Walt Chancellor, revealed that they are forecasting that U.S. crude inventories will be down for the week ending April 24.

TotalEnergies reported $5.4 billion in net profit adjusted for nonrecurring items for Q1, up 41 percent from the prior three-month period and 29 percent against Q1 2025 as LNG sales volumes increased amid oil volatility.

'This decision aligns with the United Arab Emirates' long-term strategic and economic vision and the evolution of its energy sector', the UAE Ministry of Energy and Infrastructure said.

The president told his aides to prepare for an extended U.S. Naval blockade of the Strait of Hormuz, the Wall Street Journal reported, as the U.S. looks to intensify economic pressure on Iran as the war enters its third month.

Not all mines placed by Iran in the Strait of Hormuz need to removed for ships to resume transiting the vital passageway, U.S. Energy Secretary Chris Wright said.

Crude settled higher on geopolitical tensions and tight physical markets, even as the UAE's planned OPEC+ exit added longer-term uncertainty.

Two offshore wind developers will give up federal leases and instead commit funds to fossil fuel projects under agreements with the Trump administration, the DOI said Monday.

The number of employees in the oil and gas extraction industry has dropped in seven of the last 10 years, data on the U.S. Bureau of Labor Statistics website shows.

'This strategic move will unlock new growth opportunities for traditional and renewable fuels and help protect UK energy security at a time when domestic production is under pressure'.

The sale to fellow Singaporean company KST Maritime is part of a series of non-core divestments that the offshore energy contractor expects would deliver around $39.15 million in cost savings.

The British energy giant benefited from higher oil prices amid the war in the Middle East, while related disruptions to its production in the region was offset by the Gulf of America.

'This establishes Canada as a heartland for Shell while furthering our strategy to deliver more value with less emissions', Shell's Chief Executive Officer Wael Sawan said.

Naeem Aslam, CIO Zaye Capital Markets, highlighted that Brent crude was holding strong.

Facebook's parent company signed up for potential capacity from a project to harvest solar power in space and another project to enable 'ultra- long-duration' battery energy storage.

The White House said U.S. officials were discussing Iran's latest proposal but maintained 'red lines' on any deal to end the eight-week war, including preventing Tehran from obtaining a nuclear weapon.

Two Iran linked oil tankers that U.S. forces interdicted near Sri Lanka last week appear to have halted their westward course in the Indian Ocean and turned around.

Two Iran linked oil tankers that U.S. forces interdicted near Sri Lanka last week are now sailing west.

Markets reacted to prolonged geopolitical tensions with higher oil prices and tighter outlooks.