The latest oil and gas news from around the world.
Updated: 32 min 55 sec ago
Aramco Profit Jumps 33 Pct
Saudi Aramco reported a 33 percent increase in second-quarter profit as it benefited from a war-driven surge in oil prices.
Aramco Plans to Boost Oil Export Capacity
Saudi Aramco said it is looking at options to expand its oil export capacity as the Iran war disrupts flows through the Strait of Hormuz and Houthi rebels threaten shipments in the Red Sea.
Williams to Acquire Momentum Midstream for $5.5B
The divestment by EnCap Flatrock is one of 'the most significant private midstream transactions in the U.S.'
Crescent Energy Bumps Up Production Forecast
Crescent expects its full-year production to range from 327,000 barrels of oil equivalent a day to 335,000 boed, of which 40-42 percent would be oil.
USA Gas Prices Could Hit Record This Week
'By later this week, the national average could reach its highest level ever recorded for this point in the calendar year', Patrick De Haan, Head of Petroleum Analysis at GasBuddy, warned.
Sempra Delays Completion of Mexican LNG Project
'The project is expected to reach substantial completion in the fourth quarter of 2026, with sales under long-term sale and purchase agreements commencing shortly thereafter'.
BP Raises Dividend Rate
BP PLC announced a four percent increase to 8.66 cents in its quarterly dividend per share, as higher oil prices continued to offset lower upstream and refining volumes.
Analysts Warn Outlook Remains Highly Fragile
BMI analysts outlined that they continue to believe a broader diplomatic understanding between the U.S. and Iran remains achievable during this quarter but warned that the outlook remains 'highly fragile'.
CEO Plays Down Impact of Attacks on Aramco
Aramco said attacks on its assets last month have had no material impact on its operations, and the company is working to expand its oil export capacity as the Strait of Hormuz remains disrupted by the Iran war.
Cuba Suffers 4th Nationwide Blackout in Less Than a Month
Cuba was hit by its fourth island-wide blackout in less than a month.
Crude Sinks as Tensions Ease
Oil prices fell sharply as renewed optimism over Strait of Hormuz negotiations eased fears of prolonged supply disruptions.
Dominion Energy Sees YoY Increase in Adjusted Profit
The increase was driven by the power and gas utility's Virginia business.
Pembina Posts Higher Profit
The North American midstream company reported CAD 415 million in net income adjusted for nonrecurring items for the second quarter, up year-on-year.
Q3 Is Set for Extreme Volatility, Oil Analysts Warn
The near-term outlook is 'highly uncertain', BMI analysts said.
API Opposes Senate Biofuels Legislation
The API said it opposes new Senate biofuels legislation that would expand sales of higher-ethanol gasoline and give exemptions from annual blending mandates for some small oil refineries.
BP Completes Sale of German Refinery to Klesch
'The transaction supports BP's continued focus on disciplined capital allocation and is also expected to lower underlying operating expenditure by around $1 billion'.
OPEC+ 7 Decide to Boost Production Quota
'Seven OPEC+ countries ... met virtually on 2 August 2026, to review global market conditions and outlook', a statement posted on OPEC's site highlighted.
TotalEnergies to Acquire Shell's Onshore RE Assets in Europe
Concurrently TotalEnergies agreed to sell a 50 percent stake in a 1.2-GW 'largely developed' portfolio of onshore solar and wind projects in Europe to KKR.
Analysts Look at Latest Oil Price Moves
'Daily price movements are likely to remain sensitive to political rhetoric and developments', Carole Nakhle, Chief Executive Officer of Crystol Energy, told Rigzone.
Trump Announces Fresh Iran Talks after Strike Uturn
The U.S. president said new Iran talks would begin after he called off a planned attack on Iran partially in response to pleas from Washington's allies in the Middle East.
