DTEK Oil&Gas and Baker Hughes have signed an MOU to increase natural gas production in Ukraine, combining advanced technology and local expertise to strengthen domestic supply and European energy security. SourceContinue Reading

ConocoPhillips has sent a team to Venezuela to evaluate potential oil and gas opportunities, signaling renewed interest in the country’s vast reserves as U.S. companies assess a possible return after years of asset seizures. SourceContinue Reading

Oil flows through the Strait of Hormuz are expected to recover slowly following the U.S.-Iran ceasefire, with millions of barrels stranded in the Gulf and shipping, insurance and geopolitical risks continuing to limit transit. SourceContinue Reading

CB&I has completed its acquisition of Petrofac’s Asset Solutions business, adding operations, maintenance, wells and decommissioning services to expand its global energy services portfolio. SourceContinue Reading

MaverickX has opened a new production facility in Pleasanton, Texas, scaling output of its PetroX chemical solutions used for enhanced oil recovery, water treatment and critical mineral extraction across oil and gas operations. SourceContinue Reading

Egypt has agreed to purchase the full output of Cyprus’ Aphrodite gas field under a long-term deal, securing future supply as domestic production declines and demand continues to rise. SourceContinue Reading

Occidental has reported an oil discovery at the Bandit prospect in Green Canyon Block 680 in the U.S. Gulf, encountering oil-bearing Miocene sands with potential for subsea tieback development. SourceContinue Reading

SLB OneSubsea has secured a contract from Beacon Offshore Energy to deliver an HPHT multiphase boosting system for the Shenandoah field in the Gulf of Mexico, supporting enhanced recovery in a deepwater development. SourceContinue Reading

U.S. Bureau of Land Management (BLM) oil and gas lease sales generated $592.7 million in total receipts during the first quarter of 2026, reflecting continued federal leasing activity across multiple basins and a renewed sale in Alaska’s National Petroleum Reserve. SourceContinue Reading

Oil and gas prices dropped sharply after a U.S.-Iran ceasefire deal, but the market remains on edge as Strait of Hormuz flows are still largely restricted. With more than 800 vessels stranded and supply disruptions lingering, the pace of recovery remains highly uncertain. SourceContinue Reading