WTI crude climbed above $90 per barrel for the first time since 2023 as the Iran conflict disrupts shipping through the Strait of Hormuz, tightening global oil supply and driving a sharp market rally. SourceContinue Reading
Qatar appears to have loaded its first LNG cargo since shutting the Ras Laffan export complex and declaring force majeure after drone attacks and escalating conflict in the Middle East disrupted regional energy flows. SourceContinue Reading
Petrobras reported net income of $19.6 billion in 2025 as oil and gas production increased 11% to nearly 3 MMboed, supported by new FPSOs in Brazil’s Búzios and Mero fields. SourceContinue Reading
Angola says rising oil prices are positive for government revenues but warns the rally driven by Middle East tensions may be temporary and could increase the country’s import costs. SourceContinue Reading
Parex Resources has submitted a $500 million bid to acquire Frontera Energy’s upstream oil and gas assets in Colombia, a proposal the company says is superior to its previously announced transaction with GeoPark. SourceContinue Reading
The International Energy Agency said it sees no immediate need to release emergency oil reserves despite disruptions in the Strait of Hormuz, citing ample global supply and only temporary logistical impacts from the Iran conflict. SourceContinue Reading
The Independent Petroleum Association of America welcomed the Interior Department’s move to roll back the offshore financial assurance rule, saying the regulation would have imposed billions in additional costs on independent offshore oil and gas producers. SourceContinue Reading
Nigeria President Bola Tinubu met with Eni CEO Claudio Descalzi to discuss deepwater development projects, including the Zabazaba-Etan fields, following the conversion of OPL 245 into new development and exploration licenses. SourceContinue Reading
WTI crude rose above $81 per barrel, the highest in 20 months, as the escalating Iran conflict disrupts shipping through the Strait of Hormuz and raises fears of prolonged global oil supply shortages. SourceContinue Reading
Acteon has delivered the first MHU4400S hydraulic hammer system to Heerema Marine Contractors, supporting offshore foundation installation and pile-driving operations under a multi-million-pound supply agreement. SourceContinue Reading
