In 2020, BP unveiled a “major, necessary step in support of our purpose to reimagine energy for people and our planet.” The new strategy – “performing while transforming” – would see the firm “significantly scale-up our low carbon energy business” as part of a commitment “to become a net zero company by 2050 or sooner...Continue Reading

Hormuz Draft Agreement Reportedly Awaits Khamenei Approval | OilPrice.com Charles Kennedy Charles is a writer for Oilprice.com More Info Related News By Charles Kennedy – Aug 05, 2026, 10:38 AM CDT Oil markets are awaiting a decision from Iran’s supreme leader after Iranian and Omani negotiators reportedly completed a draft agreement that could reopen the...Continue Reading

India Weighs Gas Levy to Bankroll $42 Billion Fuel Reserve Plan | OilPrice.com Charles Kennedy Charles is a writer for Oilprice.com More Info Related News By Charles Kennedy – Aug 05, 2026, 10:30 AM CDT Just a day after details emerged of India’s plans to expand strategic crude oil storage, new reports claim New Delhi...Continue Reading

Crude oil inventories in the United States saw an increase of 2.5 million barrels during the week ending July 31, according to new data from the U.S. Energy Information Administration (EIA) released on Wednesday. The increase brings commercial stockpiles to 407 million barrels, according to government data, which are now 6% below the five-year average...Continue Reading

Hormuz Bottleneck Pushes Indian Refiners Toward West African Grades | OilPrice.com Charles Kennedy Charles is a writer for Oilprice.com More Info Related News By Charles Kennedy – Aug 05, 2026, 9:30 AM CDT Several Indian refiners have recently bought crude from Oman and West Africa via tenders, trade sources told Reuters on Wednesday, as term...Continue Reading

Xodus Group will support environmental approvals for the next phases of Australia’s Northern Endeavour Decommissioning Program, including subsea well plugging and abandonment and removal of offshore infrastructure. SourceContinue Reading

Ukraine Calls for Faster Patriot Deliveries After Deadly Russian Missile Barrage | OilPrice.com RFE/RL staff RFE/RL journalists report the news in 21 countries where a free press is banned by the government or not fully established. We provide what many… More Info Premium Content By RFE/RL staff – Aug 05, 2026, 9:00 AM CDT Russia...Continue Reading

EnerMech has secured a multi-year contract to provide topside process and shutdown services for a North Sea offshore operator, expanding its role in maintenance, asset integrity and operational support across the operator’s asset portfolio. SourceContinue Reading

AGR and THF Engineered Solutions have formed a strategic partnership to apply AI-powered well engineering technology that helps operators improve well planning, identify operational risks earlier and streamline engineering workflows. SourceContinue Reading

President Donald Trump said a shipping agreement for the Strait of Hormuz could be reached within days as U.S., Iranian and Omani officials work toward a temporary arrangement to reopen the critical oil transit route. SourceContinue Reading