Industry News

The U.S. paused an almost two-week run of strikes against Iran for a second night while the Islamic Republic signaled it was refraining from any retaliatory attacks and held talks with Oman over the Strait of Hormuz.

The transaction will give the Italian energy major about 320 service stations across Austria, Denmark, Germany and Switzerland.

Spiking energy prices, more U.S. tariffs, and mushrooming spending on artificial intelligence are reawakening investors' inflation fears.

Crude declined after reports on US-Iran diplomacy and continued Red Sea oil flows reduced immediate supply concerns.

SLB, the world's biggest oil field services provider, rose the most in more than six months.

The company, which helps clients drill oil wells and map underground pockets of crude, said the conflict is encouraging customers to spread investment across more regions.

Crude oil stocks, not including the SPR, stood at 411.7 million barrels on July 17, the EIA's latest weekly petroleum status report showed.

The Australian company narrowed its output guidance for the year from 101-111 million barrels of oil equivalent to 99-105 MMboe, despite ramp-up at the Barossa and Pikka oil and gas projects.

U.S. crude is drawing overseas interest from Asian and European refiners.

However, adjusted net profit for January-June 2026 fell nine percent year-on-year to RUB 216.49 billion.

Rystad Energy mapped four potential U.S.-Iran conflict scenarios to assess their impact on oil prices.

The Chevron-led Aphrodite consortium, Cyprus Hydrocarbons and Egyptian Natural Gas signed a memorandum of understanding to enable the piped export of 100 percent of production from the Aphrodite field to Egypt.

Offshore Energies UK announced that its CEO, David Whitehouse, had a 'constructive meeting' with the UK's new Secretary of State for Energy.

Chinese buyers are snapping up Russia's flagship ESPO crude weeks earlier than usual, as heightened risks to Middle East oil flows prompt refiners to secure supplies before they're needed.

Matador Resources Co. agreed to buy Permian Basin assets from EnCap Investments LP for about $1.3 billion in cash.

Oil climbed above $100 a barrel after Houthi attacks on Saudi tankers heightened fears of broader supply disruptions.

'The transaction supports and reinforces Magnolia's business model' Magnolia said.

'This milestone marks another major step in the development of Kazakhstan's first large-scale hybrid power plant, integrating solar, gas and future wind generation to ensure decarbonized and reliable electricity supply to KazMunayGas subsidiaries'.

QatarEnergy is preparing to further extend force majeure on liquefied natural gas shipments through mid-October, according to people with knowledge of the matter.

Equinor and its partners made a new oil discovery that they are now considering developing via existing infrastructure in the Johan Castberg field on Norway's side of the Barents Sea.