Industry News

Phillips 66 posted increases in refining margins, plant utilization and natural gas liquids pipeline and fractionation volumes.

There has been one constant through it all, the S&P Global Energy Crude Oil Markets team outlined.

Occidental reported $2.4 billion in net profit adjusted for nonrecurring items for the second quarter, up from $1.1 billion for the prior three-month period on higher oil prices.

The Department of Energy expects to launch a Green Energy Auction next year to migrate off-grid island communities from diesel power to solar power supported with battery energy storage.

The United Arab Emirates has moved more oil through the Strait of Hormuz than any other producer over the past two months, providing a much-needed buffer for global markets reeling from a historic energy crisis.

A growing flotilla of Iranian oil tankers is gathering off the country's coast.

Oil fell for a third day as optimism over a potential Strait of Hormuz shipping agreement outweighed ongoing geopolitical risks.

'The new program represents a major advancement for the RRC', the Texas oil regulator stated.

'I think another temporary extension of the Jones Act waivers are quite likely to happen', Energy Secretary Chris Wright said during a media briefing at the Port of Brownsville in Texas.

Coastal Bend LNG requested the U.S. Federal Energy Regulatory Commission to begin a pre-filing review of the Texas project.

ADNOC put into service a Real-Time Operations Center powered by artificial intelligence, streamlining management for over 120 onshore and offshore rigs.

Macquarie strategists revealed that they are forecasting that U.S. crude inventories will be up for the week ending July 31.

The regasification terminal will enable LNG export to New Providence by yearend.

'EIR finds that global oil markets remain structurally tight despite recent price volatility', the company said.

With a handling capacity of 1.8 million metric tons of cargo annually, the project eliminates the need for intermediate transport for crude feedstock and oil products between tankers and the refinery.

Saudi Arabia wants to contain a renewed conflict with Houthi militants through behind-the-scenes diplomacy, according to people familiar with the matter, in a bid to prevent clashes with the Iran-backed group hurting its oil industry and economy.

Oil prices tumbled as hopes for a US-Iran agreement raised expectations that shipping through the Strait of Hormuz could resume more normally.

North America added 16 rigs week on week, according to Baker Hughes' latest North America rotary rig count.

The prospect of an interim deal focused on the Strait of Hormuz gained traction.

The prospect of a deal between the U.S. and Iran appeared to be gaining traction on Tuesday.