Industry News

The US revoked a waiver allowing Iranian oil sales following shipping attacks that threatened the fragile ceasefire with Iran.

'The transaction is consistent with BP's continued focus on portfolio simplification and disciplined capital allocation'.

North America's rig count stayed flat week on week, according to Baker Hughes' latest North America rotary rig count.

Shell expects trading results for its Integrated Gas segment to be 'significantly higher' for the second quarter compared to the prior three-month period.

Germany's oil stockpiling agency EBV is looking to refill strategic reserves of diesel.

LNG's share of annual European Union gas imports increased by nine percentage points to about 4.63 trillion cubic feet, 'deepening the structural shift in the EU's gas supply mix', the European Commission said.

J.P. Morgan analysts, including J.P. Morgan's Head of Global Commodities Strategy, Natasha Kaneva, said the oil market is 'attempting a system reboot'.

The Thai group said it had completed the purchase of Chevron's fueling business in Hong Kong, though acquired stations continue to offer the Caltex brand for two years.

'Average gasoline prices fell in nearly every state over the last week...pushing the national average to approximately $3.74 per gallon this July 4', Patrick De Haan, Head of Petroleum Analysis at GasBuddy said.

A laden LNG carrier was hit by a projectile near the Omani coast as it exited the Strait of Hormuz, heightening unease among shipowners and testing a US-Iran agreement intended to halt attacks in the waterway.

Oil fell to five-month lows after Saudi Arabia sharply cut its flagship crude prices.

Russia's flagship crude price has slid to levels seen before the conflict in the Middle East.

Respect Energy signed a six-year agreement to buy 100 percent of the power generated, as well as guarantees of origin, from four Uniper photovoltaic projects with a combined capacity of 219 megawatts peak in Poland.

Ukraine struck three Russian refineries, including the country's biggest.

JERA Nex bp, the 50:50 offshore wind joint venture of Japan's JERA and Britain's BP, completed the purchase of Sumitomo's stakes in two Belgian offshore wind facilities with a combined capacity of 384 megawatts.

Rigzone examines the Energy Institute's latest statistical review of world energy report, which was released recently.

Enverus announced that it has published its annual list of 'the 100 most prolific private oil and gas producers in the United States'.

'Seven OPEC+ countries ... met virtually on 5 July 2026, to review global market conditions and outlook,” a statement posted on OPEC's site highlighted.

Shell and nine Nigerian banks launched a $3-billion Contract Finance Facility for local companies executing projects for the British energy giant in the West African country.

ADNOC's new LNG marketing and trading platform targets 47 million metric tons per annum in marketed volumes by 2035.