The U.S. government is preparing to issue a general license to allow companies with U.S. ties to restart oil production in Venezuela, easing sanctions and supporting revival of the country’s upstream sector. SourceContinue Reading

Tenaris has secured new contracts supporting Phase 3 development of Türkiye’s Sakarya gas project, one of the Black Sea’s most technically demanding ultra-deepwater fields. The awards advance drilling, flow assurance and production infrastructure as the project moves toward scaled offshore gas output in water depths exceeding 2,000 m. SourceContinue Reading

Marathon Petroleum Beats Earnings Expectations as Refining Margins Surge | OilPrice.com Charles Kennedy Charles is a writer for Oilprice.com More Info Related News By Charles Kennedy – Feb 03, 2026, 10:30 AM CST Marathon Petroleum (NYSE: MPC) beat fourth-quarter earnings expectations by a mile as refining margins surged in the latter part of 2025. One...Continue Reading

SLB has been awarded a $1.5 billion, five-year integrated development contract by Kuwait Oil Company for the next phase of the Mutriba field, covering HPHT and sour reservoirs. SourceContinue Reading

Politics, Not Barrels, Are Driving Oil Again | OilPrice.com Tom Kool Tom majored in International Business at Amsterdam’s Higher School of Economics and later completed an Executive MBA in Energy Transition at the University of Groningen.… More Info Premium Content By Tom Kool – Feb 03, 2026, 9:40 AM CST Oil markets remain hostage to...Continue Reading

Oil Tanker Rates Soar Amid Shipping Shortages and Middle East Tensions | OilPrice.com Charles Kennedy Charles is a writer for Oilprice.com More Info Related News By Charles Kennedy – Feb 03, 2026, 9:15 AM CST Oil tanker rates on the key Middle East-to-China route surged this week to the highest level since November as vessel...Continue Reading

Following the trade deal announced by U.S. President Donald Trump, Indian refiners seek clarification about Russian oil imports from their government, with some pre-emptively halting purchases, sources with knowledge of the matter told Bloomberg on Tuesday.     President Trump broke the news of a deal with India on Monday, saying the U.S. would reduce tariffs on Indian...Continue Reading

Qatar Moves to Reclaim Japan’s LNG Market With Major Jera Deal | OilPrice.com Tsvetana Paraskova Tsvetana is a writer for Oilprice.com with over a decade of experience writing for news outlets such as iNVEZZ and SeeNews.  More Info Related News By Tsvetana Paraskova – Feb 03, 2026, 8:15 AM CST QatarEnergy is expected to announce...Continue Reading

Kuwait Seeks Foreign Majors’ Help to Develop Offshore Fields | OilPrice.com Tsvetana Paraskova Tsvetana is a writer for Oilprice.com with over a decade of experience writing for news outlets such as iNVEZZ and SeeNews.  More Info Related News By Tsvetana Paraskova – Feb 03, 2026, 7:00 AM CST Kuwait prepares to invite international oil companies...Continue Reading

Ørsted to Sell European Onshore Business for $1.7 Billion | OilPrice.com Tsvetana Paraskova Tsvetana is a writer for Oilprice.com with over a decade of experience writing for news outlets such as iNVEZZ and SeeNews.  More Info Related News By Tsvetana Paraskova – Feb 03, 2026, 6:00 AM CST Ørsted, the world’s largest offshore wind developer,...Continue Reading