Industry News

Russia's capital faced a record air attack overnight, with drones reaching the Moscow Oil Refinery, disrupting airport operations and forcing closure of several major roads in and around the city.

The South African state-owned utility continues to register improvements in electricity supply reliability as winter demand escalates, reporting nearly 400 consecutive days without power interruptions from mid-May.

President Donald Trump signed an interim deal to end the war with Iran and reopen the Strait of Hormuz, speeding up the timeline for the agreement to go into effect despite blowback from Republicans who said it amounted to a victory for Tehran.

Oil edged higher, but prices remain under pressure as a US-Iran peace deal could restore major supplies to the market.

There are already signs of shipping activity, with Iran moving its own oil tankers and other vessels changing course to head toward the Persian Gulf even before Washington and Tehran sign an interim agreement to end their hostilities later this week.

Clean Energy Fuels won contracts to design and install liquefied natural gas fuel systems for 2 power projects in Puerto Rico by PR Energy Partners and an unnamed international healthcare manufacturer.

TotalEnergies's oil trading profits doubled to about $1 billion in the first quarter as the energy giant went on a crude buying spree in the run-up to the Iran war, its CEO said.

'The proceeds will be used to finance network investments in Iberdrola's core markets, as well as to refinance selected renewable energy projects'.

Type One Energy named Bernard Looney, who resigned as BP chief executive in 2023 as he admitted failing to sufficiently disclose personal relationships with colleagues, to its board of directors.

The platform 'will help strengthen energy connectivity between the United States and the Indo-Pacific region, including expanded access to U.S. LNG and related energy exports'.

Iran would be allowed to start oil exports immediately under an interim deal with the U.S. and gain access to a $300 billion economic development program following negotiations for a permanent peace meant to address Tehran's nuclear activities.

Oil fell for a fourth straight session as a US-Iran deal to reopen the Strait of Hormuz improved expectations for increased crude supply.

The question for the market, now that a deal has been reached to reopen Hormuz, is whether Chinese demand for fuels like gasoline will normalize, or whether the rapid transport electrification has permanently dented consumption.

At the Group of Seven Summit, held in France, Europeans have raised a series of questions about what exactly was agreed to before committing to demining missions and patrols.

The Norwegian Union of Energy Workers is staging strikes against offshore well services companies after refusing proposals that the union sees as years behind collective bargaining agreements in other parts of the oil and gas industry.

The U.S. Energy Information Administration raised its Henry Hub spot price forecasts for 2026 and 2027 in its latest short term energy outlook.

'Through its subsidiary Neoenergia Coelba, the company will build 54 new substations, more than 2,000 kilometers of high-voltage transmission lines and 42,000 kilometers of medium-voltage distribution networks'.

Chevron and Helleniq Energy have now expanded their partnership in Greece to five offshore concessions.

The Japanese integrated power company took delivery of its first cargo of LNG from the Barossa Gas Project in Australia's Northern Territory, in which it owns a minority stake.

The White House sought to make the case that its interim deal with Iran will end a global energy crisis and achieve the administration's wartime goals, even as the two adversaries diverged on what the agreement will look like.