Industry News

Oil is rocketing towards $100 per barrel, adding more than $14 per barrel in just a week.

TotalEnergies announced a dividend of EUR 0.9 per share for the second quarter, up 5.9 percent from the same three-month period last year, and a new share buyback program of up to $1.5 billion for Q3, as higher oil prices continue to lift earnings.

UK Prime Minister Andy Burnham has selected his energy team.

The militant group in Yemen, who have been threatening to open another front in the Iran war, said they had targeted two oil tankers in the Red Sea.

Brent settled above $94 as traders weighed growing geopolitical risks and the potential for prolonged supply disruptions.

Power blackouts hit energy-rich North Africa from Libya to Tunisia and Algeria.

Ships continue to turn away from the Red Sea's southern end, after Houthi rebels announced an embargo on Saudi exports through the Bab el-Mandeb Strait, which has become a lifeline for oil exports since the start of the U.S.-Israeli war with Iran.

Tamboran said it had completed the biggest well stimulation campaign in the Beetaloo basin onshore Australia, putting the Shenandoah South Pilot Project on track to begin gas sales to the Northern Territory government in the third quarter.

'The investment will reinforce the UAE's energy security and its role as a reliable global energy supplier', ADNOC said.

Middle Eastern crude bought by some Chinese refiners is being offered for resale, according to traders.

'Strong production in the second quarter enabled us to capture value from higher prices, contributing to strong cash flow and financial results'.

The Economic Community of West African States signed an agreement supporting the proposed pipeline, which would carry about 1.06 trillion cubic feet a year of West African gas, up to half of which would be supplied to Morocco and Europe.

'Chevron will continue to closely monitor the storm', a Chevron spokesperson told Rigzone.

'The rise in oil prices comes amid the dissipation of the main assumption that substantially helped keep prices low', Samer Hasn, Senior Market Analyst at XS.com, said.

The transaction would mark Iberdrola's entry into Finland and give it half a million customers - over 20 percent of the Nordic country's population - and about 55,300 miles of electricity distribution networks.

Shipping disruptions in key Middle East chokepoints intensified as the U.S.-Iran war grinds on, with vessels in the Red Sea making unusual maneuvers, while visible traffic through the Strait of Hormuz sank.

Brent crude climbed to its highest level since early June as mounting threats to key oil shipping routes raised supply concerns.

Halliburton Co. dropped sharply after third-quarter guidance for sales in its Completion and Production business fell short of analysts' expectations.

Halliburton Co. said it sees incremental growth in North American activity throughout the year.

OMV Petrom completed the installation of the offshore production platform for Neptun Deep, a Black Sea project that the company says will position Romania as the European Union's biggest natural gas producer.