A “seismic” shift for oil markets? Analysts say the UAE’s departure could reshape OPEC+ influence for years, despite ongoing supply disruptions keeping prices elevated. SourceContinue Reading

bp has signed an agreement with Venezuela to explore offshore natural gas, marking a renewed push by international companies into the country’s reopening energy sector. SourceContinue Reading

Nabors says Middle East conflict is driving higher costs and logistics challenges, but international drilling demand remains strong. SourceContinue Reading

Oil prices surged toward $120 per barrel as the Iran war and continued closure of the Strait of Hormuz tighten global supply and fuel a growing energy crisis. SourceContinue Reading

President Trump has rejected Iran’s proposal to reopen the Strait of Hormuz, maintaining a naval blockade that continues to disrupt global oil supply. SourceContinue Reading

BW Offshore has signed a FEED agreement with Equinor for the Bay du Nord FPSO project offshore Canada, advancing the development toward a potential 2027 FID. SourceContinue Reading

Russia has confirmed it will remain in OPEC+ following the UAE’s exit, signaling continued support for the alliance amid global oil market disruption. SourceContinue Reading

Petrobras has acquired a stake in the Argonauta area of the Campos basin, increasing its ownership in the Jubarte pre-salt field and strengthening its offshore portfolio. SourceContinue Reading

Eni has signed a deal with PDVSA to restart oil operations at Venezuela’s Junin-5 project, signaling continued momentum in reviving the country’s upstream sector. SourceContinue Reading

A Japanese-linked oil supertanker has exited the Strait of Hormuz, marking a rare transit as shipping remains constrained amid the Iran war. SourceContinue Reading