OPEC+ Decides to Boost Production in May
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.
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Energy M&A
Energy mergers, acquisitions, divestitures, and asset transactions impacting the oil and gas industry.
The Middle East Gulf was source for 8% of 2025 U.S. crude oil imports
In 2025, the United States imported an average of 490,000 barrels per day (b/d) of crude oil from the Middle East Gulf region—Bahrain, Iraq, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates (UAE). Crude oil imports from the region are primarily medium sour grades of crude oil and flow mainly into the West...
Read MessageMasirah Oil to start three-well drilling program at Oman’s Yumna field in May
Masirah Oil plans to begin drilling three development wells at the offshore Yumna field in Oman’s Block 50, advancing production activity in the area.
Read MessageValaris secures $447 million Petrobras extension for Brazil deepwater drillship
Valaris extends its DS-4 drillship contract with Petrobras offshore Brazil, adding $447 million in backlog and securing deepwater work into 2030.
Read MessageBuru CEO Quits on Health Reasons
'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'.
Read MessageBMI Ups Global Diesel Price Forecast
'We have revised up our 2026 diesel price forecast, as we move to our 'extend to end' [conflict] scenario', BMI analysts said.
Read MessagePetronas Says It's on Alert over Fuel Supply in Malaysia
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.
Read MessageOil Market Weighs Early Signs of Potential De-Escalation
'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'.
Read MessageChevron Resumes Leviathan Gas Production offshore Israel
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.
Read MessageIndia turns to Iran for oil and gas after 7-year hiatus, signaling limits to U.S. tilt
India has resumed oil and gas imports from Iran after seven years, in a bid to rebalance its ties with Tehran and secure supplies through the Strait of Hormuz.
Read MessageMediators Said to Seek Ceasefire as Trump Escalates Iran Threats
U.S., Iran and regional mediators are reportedly discussing terms for a possible 45-day ceasefire, but chances of an immediate deal appear low.
Read MessageOil prices rise as Trump warns Iran to open Strait of Hormuz by Tuesday or face 'hell'
President Donald Trump warned Sunday in an expletive-filled social media post that Iran would be "living in Hell" if they do not open the Strait
Read MessageBP, ADNOC Approve Harmattan Gas Project offshore Egypt
'The investment, estimated at approximately half a billion USD, will help support and increase natural gas production to meet domestic market needs'.
Read MessageTrump administration to reunite offshore drilling agencies split after Deepwater Horizon spill
The Trump administration plans to reunite offshore drilling regulators split after the 2010 Gulf spill, aiming to streamline oversight of U.S. oil and gas activity.
Read MessageLion Energy secures rig to drill Bula Karang-1 well offshore Indonesia
Lion Energy awards a drilling contract for its Bula Karang-1 exploration well in Indonesia’s East Seram PSC, targeting new oil potential offshore.
Read MessageTurkey Weighs Raising Energy Prices
Turkey is weighing whether to raise electricity and natural gas prices, according to people familiar with the matter.
Read MessageTurkey Raises Energy Prices
Turkey raised electricity and natural gas prices by as much as 25 percent for households.
Read MessageContinental Boosting Oil Output as Prices Soar
Billionaire oil wildcatter Harold Hamm's Continental Resources Inc. plans to increase production.
Read MessageLawsuit challenges U.S. ESA exemption for Gulf offshore oil and gas
A coalition of groups has filed a lawsuit challenging the U.S. decision to exempt Gulf offshore oil and gas operations from Endangered Species Act requirements, adding new regulatory uncertainty for operators.
Read MessageOMV Petrom’s Krum-1 well misses gas in Bulgaria’s Han Asparuh block
OMV Petrom completes drilling of the Krum-1 well offshore Bulgaria, finding no significant gas but advancing geological understanding of the Black Sea basin.
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