Industry News

European Central Bank President Christine Lagarde said soaring energy costs due to the Iran war should act as a wake-up call for Europe.

Crude markets entered relief mode as tensions failed to escalate further.

The U.S. played down the prospect of a return to active war with Iran.

By year-on-year comparison, lower costs softened the impact of lower volumes and lower Permian gas prices.

The United Arab Emirates was in a unique position in OPEC+, according to James Davis, who leads FGE's Short-Term service and crude oil production forecasting.

'We continue to believe that we are in the early days of a multi-year upcycle with increasing demand for offshore exploration and development drilling services'.

Gasoline prices have jumped across all 50 states, GasBuddy noted.

'The new hydrogen-ready combined cycle gas turbine plant, with a planned electrical feed-in capacity of up to 890 megawatts, is designed to secure the Grosskrotzenburg power station's long-term role as a key energy hub in the Rhine-Main region'.

'The potential collaboration also contemplates expanding the refineries' petrochemical capacities and harnessing gas and downstream opportunities through the development of co-located, gas-based industrial hubs'.

GlobalData has identified the 'top' themes that will impact the oil and gas industry this year in a new strategic intelligence report.

The U.S. and Iran exchanged fire in a flareup of violence that also drew in the UAE, prompting calls for renewed strikes on Iranian targets and casting doubt on the fate of a four-week ceasefire.

Traffic through the Strait of Hormuz remained largely frozen amid increasing tensions.

Markets reacted to renewed risks in the Persian Gulf as tanker attacks and military responses intensified.

State producer QatarEnergy extended force majeure on its liquefied natural gas supply through mid-June, according to people familiar with the matter.

North America lost four rigs week on week, according to Baker Hughes' latest North America rotary rig count.

The retiring Hollub, CEO since 2016 and board member since 2015, will remain on the board, 'ensuring continuity and ongoing strategic guidance', the Warren Buffett-backed energy company said.

In its latest Annual Statistical Bulletin, OPEC projected that world oil demand grew by 1.30 million barrels per day year on year in 2025, a release posted on OPEC's site outlined.

TotalEnergies and local partner Nextnorth reached financial close and launched construction for a solar power plant with a capacity of 440 megawatts in northern Philippines.

A statement posted on OPEC's website on Sunday revealed that Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria, and Oman decided to boost production in June.

'Profit excluding the time lag increased mainly due to the impact of fuel procurement prices and an increase in profits in overseas power generation and renewable energy business'.