IEA Sees Oil Investments Dropping for 3rd Year
Despite higher oil prices, spending on oil projects is set to drop below $500 billion in 2026, according to the International Energy Agency's annual World Energy Investment report.
US Strikes Iran Military Site Near Hormuz
The U.S. carried out airstrikes on an Iranian military site and imposed new sanctions to prevent Tehran from profiting from vessels transiting the Strait of Hormuz, highlighting the fragility of recent diplomatic momentum.
BP Chair Says He Was Fired Without Explanation
Former BP Plc Chairman Albert Manifold says he was fired without warning or explanation.
Oil Settles Below $89 On Deal Hopes
Oil futures plunged as traders bet on a possible US-Iran peace deal.
Strategists Predict Week on Week USA Crude Stock Drop
Macquarie strategists revealed that they are forecasting that U.S. crude inventories will be down for the week ending May 22.
Hafnia Posts Higher Q1 Profit
'Looking ahead, the outlook remains highly uncertain and depends largely on the duration of the disruption to traffic through the Strait of Hormuz and the time required for oil production and global refinery operations to recover'.
Republican Hardliner Beats Incumbent Texas Oil Regulator in Runoff Vote
Bo French defeated incumbent Texas Railroad Commissioner Jim Wright in a runoff election for the GOP nomination to sit on the Lone Star State's chief oil regulator.
Noble Appoints Halliburton CEO as Director
'I am delighted to welcome Jeff to Noble's Board of Directors', Noble Chairman Charles M. Sledge said.
Petrofac Emirates Sold to Mason-Led Consortium
Petrofac, under administration since 2025, said it had completed the divestment of its core engineering and construction business in the UAE to a consortium of financial investors led by Mason and Pearlstone Alternative.
Digitalization, AI in Upstream Oil, Gas is '$500B Opportunity'
Rystad Energy described digitalization and Artificial Intelligence in upstream oil and gas as 'a $500 billion opportunity'.
Aramco Exits Malaysian Refining, Petrochemical Complex
'Recent developments in global energy markets have underscored the importance of operational agility for energy infrastructure of strategic national significance', Malaysia's state-owned Petronas said.
Eni, Baleine Partners Approve Phase 3 of Ivorian Project
Phase 3 of Baleine, discovered about 5 years ago off the Atlantic coast of the West African country, will increase the field's oil production from 60,000 to 150,000 barrels per day and natural gas output from 80 to 200 million cubic feet a day.
Russia Weighs Fuel Export Limits as Attacks Grow
Oil companies were advised to curb sales of oil products to foreign markets following a meeting with the deputy prime minister on the domestic fuel market.
Brent Jumps on Renewed Iran Clash
Oil rebounded as renewed US-Iran clashes clouded hopes for a Hormuz deal.
A Searing Asian Summer Will Add to Risk of Surging Gas Prices
Summer forecasts are pointing to higher than normal temperatures across Asia, while an El Nino weather pattern could make things even hotter.
DOI Bags Over $4B from Texas, New Mexico Lease Sale
The U.S. Department of the Interior announced that it generated over $4 billion in total receipts from a Bureau of Land Management oil and gas lease sale in New Mexico and Texas.
BP Fires Chair Over Conduct, Governance
BP Plc fired Chairman Albert Manifold just months into the job.
BP Fires Board Chair on Governance Concerns
BP Plc's board fired Chairman Albert Manifold just months into the job.
Eni, BlackRock CCUS JV Raises $582MM
The carbon capture, utilization and storage joint venture of Eni and BlackRock's GIP has secured EUR 500 million in financing to support ongoing and additional projects.
TIPRO Says Texas Upstream Employment Rose in April
Texas upstream employment increased in April, the Texas Independent Producers and Royalty Owners Association (TIPRO) said.
