Industry News

PetroChina and Shell agreed on an additional investment in the Surat Gas Project, their joint venture in Australia that is targeted to produce about five Tcf of natural gas over 27 years.

'There has still not been any major retaliation involving Iran, Hezbollah, Hamas or the Houthis', Dryad Global highlighted.

'The impact of changes to further extend and raise the Energy Profits Levy, or windfall tax, and the potential removal of critical capital allowances for the sector were central to discussions', OEUK revealed.

Energy Transfer reported $1.31 billion in net profit for the second quarter.

Gasoline receipts at China's two biggest retailers, PetroChina and Sinopec, have dropped more than five percent since the start of July.

Tesla Inc.'s Elon Musk made a case for his company's electric cars to Donald Trump and his supporters.

Oil dropped, breaking a five-day streak of gains, as the prospect of a potential crude surplus overshadowed concern about an escalation in the Middle East conflict.

'Application of this industry-first deepwater technology allows us to unlock previously difficult-to-access resources'.

The strategists warned that timing of cargoes remains a source of potential volatility in this week's crude balance.

Oil inventories are currently depleting as a result of peak summer driving demand, but should stabilize in the final quarter of the year, IEA said in a report.

'We are confident that our path towards a pure play regulated utility supports our objective to create long-term value for our customers and shareholders'.

'This discovery is not only a reflection of the successful implementation of our exploration strategy but also a strong indicator of the promising future that lies ahead for Gran Tierra in both Ecuador and Colombia'.

'Beyond 2024, Pembina's core business, at the center of the western Canadian energy industry, positions the company to benefit from multi-year volume growth'.

The company also attributed the decrease to a '$176 million unfavorable variance'.

Stronger-than-expected onshore well performance offset unplanned downtime in the Gulf of Mexico and the non-operated Terra Nova field.

'Iran's leaders and the Islamic Revolutionary Guard Corps have promised 'blood vengeance'', Rystad warned.

'Within the UAE, increased population and industrial growth have contributed to stronger sales for the domestic gas business'.

'This could impact on regional oil supply in various ways, such as via tighter sanctions enforcement on Iran, attacks on oil and gas infrastructure, and disruptions to trade', BMI analysts said.

Adnoc Distribution is looking to hire a chief investment officer as the retail arm of the biggest oil company in the UAE seeks to expand globally.

Saipem secured an approval in principle and Technology Qualification certifications from RINA for its methodology in qualifying materials used in subsea hydrogen pipelines.