Industry News

Traffic through the Strait of Hormuz has climbed to its highest levels since the early days of the war.

The latest well to be stimulated in the Shenandoah South Pilot Project in the Beetaloo sub-basin onshore Australia's Northern Territory yielded a record average 20-day initial production flow rate of 10.3 million cubic feet a day, Tamboran said.

A statement posted on OPEC's website on Sunday revealed that Saudi Arabia, Russia, Iraq, the UAE, Kuwait, Kazakhstan, Algeria, and Oman have decided to boost production next month.

'The board is very focused on the successful delivery of the Rafael Gas Project and the key milestones towards Final Investment Decision and first material cashflows'.

'We have revised up our 2026 diesel price forecast, as we move to our 'extend to end' [conflict] scenario', BMI analysts said.

Oil-producing Malaysia 'is not fully insulated' from the supply disruption brought about by the ongoing war in the Middle East, the national oil company said.

'Reports of a possible agreement between the United States and Iran to halt hostilities and reopen the Strait of Hormuz have tempered supply concerns to a certain extent and pushed prices down'.

Chevron and its local partners resumed regular production at the gas and condensate field, weeks after declaring force majeure because of the ongoing war with Iran.

U.S., Iran and regional mediators are reportedly discussing terms for a possible 45-day ceasefire, but chances of an immediate deal appear low.

'The investment, estimated at approximately half a billion USD, will help support and increase natural gas production to meet domestic market needs'.

Turkey raised electricity and natural gas prices by as much as 25 percent for households.

Turkey is weighing whether to raise electricity and natural gas prices, according to people familiar with the matter.

Billionaire oil wildcatter Harold Hamm's Continental Resources Inc. plans to increase production.

Russian producers paid 494.9 billion rubles ($6.18 billion) in oil taxes last month, down 48 percent year on year, according to Bloomberg calculations based on Finance Ministry data released Friday.

'American energy leadership is a cornerstone of our economic strength and national security', Secretary of the Interior Doug Burgum said.

'It is imperative that international law is respected and that Iran fully re-opens the Strait of Hormuz', a statement posted on the UK government website said.

BP confirmed Meg O'Neill has taken over as chief executive from interim CEO Carol Howle and named Howle as deputy CEO effective immediately.

Masdar and TotalEnergies announced an agreement to create a 50-50 joint venture to consolidate their onshore renewable energy portfolio in nine Asian countries.

Why has the West Texas Intermediate (WTI) oil price surpassed Brent?

'Iran will allow the safe, unhindered and expeditious passage through the Strait of Hormuz of Philippine-flagged vessels, energy sources and all Filipino seafarers', the Philippine Foreign Affairs Department said.