Industry research, market reports, trend analysis, and intelligence relevant to Permian Basin and energy markets.
A “seismic” shift for oil markets? Analysts say the UAE’s departure could reshape OPEC+ influence for years, despite ongoing supply disruptions keeping prices elevated.
Read Messagebp has signed an agreement with Venezuela to explore offshore natural gas, marking a renewed push by international companies into the country’s reopening energy sector.
Read MessageNabors says Middle East conflict is driving higher costs and logistics challenges, but international drilling demand remains strong.
Read MessageThe UAE has faced repeated missile and drone attacks by Iran, a fellow OPEC member, as it responds to the U.S.-Israeli war.
Read MessageOil prices surged toward $120 per barrel as the Iran war and continued closure of the Strait of Hormuz tighten global supply and fuel a growing energy crisis.
Read MessagePresident Trump has rejected Iran’s proposal to reopen the Strait of Hormuz, maintaining a naval blockade that continues to disrupt global oil supply.
Read MessageBW Offshore has signed a FEED agreement with Equinor for the Bay du Nord FPSO project offshore Canada, advancing the development toward a potential 2027 FID.
Read MessageThe United Arab Emirates (UAE) announced that it will withdraw from OPEC and the broader OPEC+ alliance effective 1 May, stripping the cartel of its third-largest producer. In a statement, the country’s Ministry of Energy and Infrastructure said that the decision to leave the cartel “followed a comprehensive review of the UAE’s production policy and...
Read MessagePetro Victory Energy drilled the SJ-12 well in the São João field in the Barreirinhas Basin, Brazil, encountering 72 net meters of gas pay across five zones. The 7-SJ-12DA-MA well reached a total depth of 3,180 m, intersecting the Barro Duro–Tutoia and Bom Gosto–Arpoador formations. Petrophysical interpretation identified five net pay zones in the Bom...
Read MessageBeach Energy reported progress on its Equinox rig campaign and Cooper Basin drilling program during Q1 2026, though severe weather disrupted operations across both programs. In the offshore Otway Basin, Beach received the Transocean Equinox rig from a consortium member after quarter-end and commenced Phase two of the campaign shortly thereafter. A well intervention at...
Read MessageRussia has confirmed it will remain in OPEC+ following the UAE’s exit, signaling continued support for the alliance amid global oil market disruption.
Read MessagePetrobras has acquired a stake in the Argonauta area of the Campos basin, increasing its ownership in the Jubarte pre-salt field and strengthening its offshore portfolio.
Read MessageThe latest move higher comes amid reports that the U.S. will look to extend its blockade of Iranian ports.
Read MessageOil prices continued to rise on Wednesday after U.S. President Donald Trump appeared to threaten Iran in a TruthSocial post.
Read MessageThe United Arab Emirates' decision to leave OPEC is reverberating across global energy markets, sparking questions on who else could follow.
Read MessageThe alert said China purchases approximately 90% of Iran's oil exports, with teapot refineries accounting for the majority of these imports.
Read MessageOptimism around tech stocks took hit as the Wall Street Journal reported that OpenAI's revenue and new users growth was below its own targets.
Read MessageEni has signed a deal with PDVSA to restart oil operations at Venezuela’s Junin-5 project, signaling continued momentum in reviving the country’s upstream sector.
Read MessageA Japanese-linked oil supertanker has exited the Strait of Hormuz, marking a rare transit as shipping remains constrained amid the Iran war.
Read MessagePetro Victory’s SJ-12 well in Brazil’s Barreirinhas basin has confirmed stacked gas reservoirs with 72 meters of net pay, supporting further development of the São João field.
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