Industry News

Despite historically low US crude inventories, traders focused on improving Middle East supply flows and growing signs of potential oversupply.

Shippers can transit the Strait of Hormuz via Iranian or Omani and US-coordinated waters, according to the International Maritime Organization, part of a broader plan to evacuate stranded vessels.

'For the first time at this scale, BESS procurement, financing and execution have been coordinated across multiple jurisdictions under a single integrated framework, linking manufacturing allocation directly to project delivery'.

'The transaction represents a further step in the implementation of Saipem's strategy aimed at focusing its portfolio on deepwater and harsh-environment offshore drilling'.

Woodside executed an agreement with Alcoa to supply the alumina maker with 31.1 petajoules of Western Australian natural gas from 2027 to 2030.

The affected companies - including Baker Hughes, Halliburton and SLB - imposed a legal work halt to force the workers into agreeing to terms proposed under government mediation.

The countries asked for a 'pragmatic approach' to clarifying the rules and adopting changes to allow importers to continue to obtain oil and gas needed by the EU.

Asian refiners have slowed purchases of Middle Eastern crude after a buying spree over the past three weeks, with oil majors and traders stepping in to take some of the surplus barrels.

Oil prices fell as more tankers resumed transiting the Strait of Hormuz and additional supplies entered the market following the US-Iran interim peace deal.

Qatar said it doesn't expect liquefied natural gas exports to be impacted by an explosion at the Ras Laffan industrial complex which left 13 dead and 66 injured.

The first production wells are now delivering 20,000 barrels per day gross.

The Greater PAJ Project will deploy a new FPSO with a nameplate capacity of 95,000 barrels per day of oil and a gas export capacity of 70 million cubic feet a day of gas, to be supplied to Angola LNG.

A project by Chevron and Engine No. 1 secured an agreement to supply natural gas-based electricity to a Microsoft data center project in West Texas for 20 years.

Analysts at BMI projected the evolution of oil and gas markets through to 2050 in a report sent to Rigzone recently.

'Su Tu Trang Phase 2B will supply more than 600 billion cubic feet of gas over its life, supporting growing energy demand in Southeast Vietnam and contributing to the country's energy security'.

Uzbekistan is stepping up efforts to bring major European and U.S. energy companies into its natural gas sector, after last month securing investment from BP.

Iran is racing to court some of Asia's largest oil buyers as a 60-day U.S. sanctions waiver takes effect.

Crude declined after the US approved limited Iranian oil sales and shipping through the Strait of Hormuz continued to recover.

The Treasury Department issued a temporary, 60-day license allowing Iran to sell some of its energy exports through August 21, a sweeping change after years of increasingly punitive economic sanctions.

Libya reached its highest daily crude production since 2013, moving closer to its goal of 1.5 MMbpd by yearend.