Oil falls as U.S. weighs releasing sanctioned Iranian crude to cool prices
U.S. oil prices extended their decline after Treasury Secretary Scott Bessent said Washington may soon lift sanctions on Iranian crude stored aboard tankers.
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Industry Reports
Industry research, market reports, trend analysis, and intelligence relevant to Permian Basin and energy markets.
Op-Ed: American energy faces attacks by European activist courts
A new legal challenge tied to the Dakota Access Pipeline is raising broader concerns across the U.S. energy sector. In this op-ed, Texas Railroad Commissioner Wayne Christian argues that European court actions could undermine American judicial authority, disrupt transatlantic energy ties and introduce new risks for infrastructure investment.
Read MessageAlaska lease sale draws $163 million in bids from Exxon, ConocoPhillips
Oil companies including ExxonMobil and ConocoPhillips bid $163 million in a record lease sale in Alaska’s National Petroleum Reserve, signaling renewed upstream interest following policy changes and expanded access to federal acreage.
Read MessageWoodside appoints Liz Westcott as CEO, Managing Director
Woodside Energy has appointed Liz Westcott as Chief Executive Officer and Managing Director, following her tenure as acting CEO, as the company advances major projects and positions for long-term global energy growth.
Read Message$166 a barrel? Middle East oil gives clue to where all prices could be headed if Iran war drags on
A breakout of oil prices in Asia has left analysts debating whether U.S. crude could see further upside.
Read MessageIran strike could cut 17% of Qatar LNG capacity for up to five years
An Iranian strike on Qatar’s Ras Laffan complex could remove 17% of the country’s LNG export capacity for up to five years, Reuters reported. The disruption would raise long-term supply risks for global gas markets and key buyers in Europe and Asia.
Read MessageShell reports damage to Pearl GTL plant after Iran attack on Qatar LNG hub
Shell confirmed damage to its Pearl gas-to-liquids (GTL) plant following an Iranian strike on Qatar’s Ras Laffan Industrial City, highlighting escalating risks to critical LNG and downstream infrastructure in the Middle East.
Read MessageDanos achieves record safety performance with lowest TRIR on record
Danos reported its lowest Total Recordable Incident Rate (TRIR) on record in 2025, achieving 0.07 across more than 11.5 million work hours, reflecting strong safety performance across its oilfield services operations.
Read MessageTrendsetter installs tethered BOP for deepwater U.S. Gulf well stability
Trendsetter Vulcan Offshore has deployed a tethered BOP system in the U.S. Gulf to reduce wellhead fatigue in soft seabed conditions, supporting safe deepwater operations and improving stability during critical completion activities.
Read MessageUK, allies call on Iran to end Hormuz disruption, energy attacks
The UK and allied nations are urging Iran to halt attacks on energy infrastructure and restore shipping through the Strait of Hormuz, as disruptions threaten global oil and gas supply chains and intensify pressure on energy markets.
Read MessageVietnam advances offshore gas project with development approval
Vietnam has approved the field development plan for Jadestone Energy’s Nam Du–U Minh offshore gas project, enabling reserve booking and advancing plans for a new gas production hub to support domestic energy supply and future development.
Read MessageEni, PETRONAS name Southeast Asia upstream JV Searah
Eni unveiled “Searah” as the name of its new joint venture with PETRONAS, combining selected upstream assets and capabilities across Malaysia and Indonesia. The joint venture is designed to integrate portfolios from both companies to strengthen regional energy security and support long-term value creation. Searah will operate as a unified entity with a single performance...
Read MessagePRIO nears first oil at Wahoo as commissioning progresses
PRIO is nearing startup of its Wahoo field development in Brazil’s Campos basin, with commissioning activities underway following completion of installation and receipt of the operating license. The Wahoo project has reached mechanical completion and is now in the commissioning phase, with first oil expected in the coming days. The development comprises six wells, including...
Read MessageNew gas consortium Quiluma starts up offshore gas field
TotalEnergies announced the start of production from the Quiluma field, in which the company holds an 11.8% interest alongside its partners Azule Energy (37.4%, operator), Cabinda Gulf Oil Company (31%) and Sonangol E&P (19.8%). This is the first development of a non-associated gas field in Angola and the gas produced will be a stable and...
Read MessageEON to launch San Andres drilling program after recompletion campaign
EON Resources will begin its 2026 development program with the recompletion of five vertical wells in the San Andres formation, as it prepares for a broader horizontal drilling campaign in the Permian basin, the company said in a press release. The recompletions, scheduled to be reported in the second quarter, are designed to test completion...
Read MessageStrikes on Gulf energy infrastructure send oil, gas prices sharply higher
Oil and gas prices surged after strikes hit key Gulf energy infrastructure, including Qatar’s Ras Laffan LNG complex and refineries in Saudi Arabia, Kuwait and the UAE, raising concerns over prolonged supply disruptions and tighter global markets.
Read MessageOil jumps 4% as Iranian retaliatory strikes on Qatar’s key energy facility stoke supply worries
Oil prices jumped as markets react to escalating tensions after Qatar said Iranian missile strikes damaged a key liquefied natural gas export facility.
Read MessageIran, Israel strikes hit key oil and LNG infrastructure as Middle East war escalates
Iran and Israel have exchanged strikes on major energy infrastructure, including Qatar’s Ras Laffan LNG hub and Iran’s South Pars field, raising global oil and gas supply risks as Brent crude approaches $110 and Hormuz disruptions persist.
Read MessagePetrobras confirms deepwater gas discovery offshore Colombia
Petrobras has confirmed a new deepwater gas discovery at the Copoazu-1 well in Colombia’s offshore GUA-OFF-0 Block, expanding the region’s gas potential and supporting long-term energy supply through continued exploration activity.
Read MessageWorld’s largest heavy-lift jackup completes UK North Sea decommissioning
Petrodec has completed a major decommissioning project in the UK Southern North Sea using its OBANA heavy-lift jack-up vessel, removing multiple platform jackets and topsides from the Amethyst and Galahad gas fields.
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