Industry research, market reports, trend analysis, and intelligence relevant to Permian Basin and energy markets.
INNIO and Rehlko have signed a 1.25-GW gas engine supply agreement to support growing demand from data centers and flexible power generation projects across global markets.
Read MessageThe U.S. Department of Energy has loaned 8.5 million barrels of crude from the Strategic Petroleum Reserve in a second release aimed at stabilizing oil markets amid supply disruptions tied to the Iran war.
Read MessagePresident Trump said the U.S. will move to blockade the Strait of Hormuz after failed Iran talks, raising major risks to global oil and LNG flows through the critical energy chokepoint.
Read MessageOvintiv has closed the $3 billion sale of its Anadarko basin assets in Oklahoma, with proceeds expected to reach $2.85 billion and support debt reduction and portfolio optimization.
Read MessagePakistan confirmed the arrival of Iran's parliament speaker and foreign minister ahead of talks with a U.S. delegation led by Vice President JD Vance.
Read MessageSaudi Arabia said attacks on key oil and gas infrastructure, including the East-West pipeline, disrupted production and exports, cutting output capacity by more than 600,000 bpd and tightening global supply.
Read MessageA processing unit at the Aramco-TotalEnergies SATORP refinery has been shut down following damage linked to the Middle East conflict. While no injuries were reported, the extent of the outage and its potential impact remains under review.
Read MessageSubsea7 received a contract from Petrobras, following a competitive tender, for the development of the Sépia 2 field in the pre-salt Santos Basin, approximately 280 km southeast of Rio de Janeiro at a water depth of 2,170 m. The supermajor contract, valued at more than $1.25 billion, covers engineering, procurement, fabrication, installation and pre-commissioning of...
Read MessageLibya’s National Oil Corporation (NOC) announced three separate hydrocarbon discoveries on 8 April 2026, made in partnership with Repsol, Sonatrach and Eni across onshore and offshore acreage. NOC and Repsol Libya Branch (REMSA) reported an oil discovery following the drilling of exploration well J1-4/130 in Contract Area 131/130 in the Murzuq Basin, approximately 800 km...
Read MessageDragon Oil, in partnership with the Gulf of Suez Petroleum Company (GUPCO) and the Egyptian General Petroleum Corporation (EGPC), announced an oil discovery following the drilling of the South El Wasl B.B2 exploration well in the Gulf of Suez. Wireline logging data confirmed the presence of an oil-bearing reservoir within the Lower Rudeis formation. The...
Read MessageVentura Offshore extended the current contract for its DS Carolina drillship by 135 days, keeping the sixth-generation ultra-deepwater vessel working offshore Brazil until September 2026 and adding approximately $29 million to the company’s backlog. The extension pushed the mobilization window for DS Carolina’s subsequent contract, covering the Sepia-Atapu field, to January 2027. No other adjustments...
Read MessageOvintiv has closed the $3 billion sale of its Anadarko Basin assets in Oklahoma, with proceeds expected to reach $2.85 billion and support debt reduction and portfolio optimization.
Read MessageEnergy analysts warn that the Iran ceasefire is not likely to alleviate acute signs of stress in the physical oil market.
Read MessageU.S. President Donald Trump on Thursday warned Iran to "stop now" if it was charging tankers to transit the Strait of Hormuz.
Read MessageThe West Texas Intermediate was up 0.62% at $98.48 per barrel as of 7:50 p.m. ET. Brent crude ended the session at $95.92 per barrel.
Read MessageSubsea7 has secured a SURF contract worth at least $1.25 billion for Petrobras' Sépia 2 pre-salt development in Brazil’s Santos basin, covering engineering, procurement, installation and pre-commissioning for 17 wells.
Read MessageConocoPhillips has sent a team to Venezuela to evaluate potential oil and gas opportunities, signaling renewed interest in the country’s vast reserves as U.S. companies assess a possible return after years of asset seizures.
Read MessageDTEK Oil&Gas and Baker Hughes have signed an MOU to increase natural gas production in Ukraine, combining advanced technology and local expertise to strengthen domestic supply and European energy security.
Read MessageIran effectively closed the Strait of Hormuz during the war with U.S. and Israel, creating an oil supply crunch and sending global energy prices soaring.
Read MessageOil flows through the Strait of Hormuz are expected to recover slowly following the U.S.-Iran ceasefire, with millions of barrels stranded in the Gulf and shipping, insurance and geopolitical risks continuing to limit transit.
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