Unprecedented U.S.–Israeli strikes on Iran have jolted oil markets, with analysts warning that crude prices could spike sharply in the coming days. In this exclusive analysis, World Oil editor-in-chief Kurt Abraham examines the short-term surge risk, OPEC+’s response, the vulnerability of the Strait of Hormuz, and why longer-term fundamentals may ultimately temper the rally. SourceContinue Reading
Two oil tankers were attacked near the Strait of Hormuz as Iran-related tensions escalate, raising concerns over potential disruption to a chokepoint that carries roughly 20% of global seaborne crude and LNG flows. SourceContinue Reading
Venezuela’s PDVSA and Hydrocarbon Ministry have signed a memorandum of understanding with the African Energy Chamber to strengthen oil and gas investment, upstream cooperation and joint energy development initiatives. SourceContinue Reading
U.S. President Trump’s strike on Iran has raised fresh concerns over global oil supply, with risks to Iran’s 3 million bpd production and potential disruption to Strait of Hormuz shipments that carry roughly 20% of global crude flows. SourceContinue Reading
OPEC+ will add 206,000 bpd of oil production in April as Middle East tensions escalate following strikes on Iran, raising concerns over potential disruptions to Strait of Hormuz crude flows. SourceContinue Reading
Bilfinger has secured offshore and onshore maintenance contracts in the UK, including access and fabric services for Ithaca Energy’s Cygnus gas field and work at the St Fergus SAGE Terminal, expanding its North Sea operations footprint. SourceContinue Reading
Venezuela has canceled the auction of assets seized from Halliburton after pressure from the U.S. government, a move seen as clearing the way for the oilfield services giant’s return amid efforts to revive the country’s oil sector under U.S. engagement. SourceContinue Reading
Equinor is exploring the potential sale of offshore Angola oil assets as it focuses on growing production in Brazil, the Gulf of Mexico, the U.S. and the UK, targeting 900,000 boed of international output by 2030. SourceContinue Reading
Diversified Energy has agreed to acquire East Texas natural gas assets from Sheridan Production for $245 million, adding approximately 62 MMcfed of low-decline production and 397 Bcfe of reserves to its portfolio. SourceContinue Reading
