Oil prices plunged more than 12% as traders struggled to interpret conflicting signals about tanker traffic and possible U.S. naval escorts through the Strait of Hormuz, the critical chokepoint that handles roughly one-fifth of global oil supply. SourceContinue Reading
Chevron has appointed exploration veteran Emmanuelle Garinet as Director of Exploration for the Americas and Sub-Saharan Africa, strengthening the company’s strategy to pursue new upstream discoveries across frontier African basins, the Gulf of Mexico, Guyana and other key global oil provinces. SourceContinue Reading
Sunda Energy has secured an environmental license to drill the Chuditch-2 appraisal well offshore Timor-Leste, marking a key regulatory milestone for advancing gas exploration activities within the TL-SO-19-16 production sharing contract. SourceContinue Reading
Escalating U.S. and Israeli strikes on Iran are adding new uncertainty to global oil markets as refinery outages, production cuts and the near-closure of the Strait of Hormuz disrupt supply and drive sharp volatility in crude prices. SourceContinue Reading
ExxonMobil’s board has unanimously recommended relocating the company’s legal domicile from New Jersey to Texas, aligning its corporate structure with operations and leadership long based in the state. SourceContinue Reading
Oil briefly surged above $100 per barrel amid the Iran conflict and disruptions to shipping through the Strait of Hormuz, raising concerns that higher energy prices could fuel inflation and pressure global markets. SourceContinue Reading
Monumental Energy has begun perforation operations at the Waihapa H1 well in New Zealand’s Taranaki basin, targeting bypass pay in the Mount Messenger formation following encouraging results from the nearby Ngaere-1 well. SourceContinue Reading
Frontera Energy is moving ahead with a $525 million deal to sell its Colombian upstream assets to Parex Resources after GeoPark declined to match the rival bid, clearing the way for a major shift in Colombia’s independent oil and gas landscape. SourceContinue Reading
S&P Global warns the Iran conflict is evolving from a shipping disruption into a full-scale supply crisis, with roughly 17 MMbpd of oil and products affected as the Strait of Hormuz remains effectively shut. SourceContinue Reading
Oil prices plunged after U.S. President Donald Trump suggested the Iran conflict could be nearing an end, reversing earlier gains that pushed crude above $100 amid disruptions to shipping through the Strait of Hormuz. SourceContinue Reading
