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Oil
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Iran's Oil Minister says oil exports continue despite volume decline, citing security concerns for lack of details.
Iran's Oil Minister says oil exports continue despite volume decline, citing security concerns for lack of details.
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OPEC+'s share of global oil production fell to about 40% in July, down from over 48% before the conflict, indicating a shift in oil market dominance from supply to demand.
According to Reuters' calculations based on International Energy Agency (IEA) data, OPEC+'s share of global oil production has fallen from over 48% before the Middle East conflict at the end of Februa
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India's ONGC Targets Tenfold Oil Output Boost in Venezuela
India's state-owned Oil and Natural Gas Corporation (ONGC) plans to invest $200 million to revive production at the San Cristobal oilfield in Venezuela. The company aims to boost output from the curre
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Aker BP begins production at Skarv Satellites in Norwegian Sea, bringing 120 MBOE resources online a year ahead of schedule
Aker BP has commenced production from the Alve Nord, Idun Nord, and Ørn fields, which are part of the Skarv Satellite Project. These developments hold nearly 120 million barrels of oil equivalent (mbo
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Saudi Arabia shifts oil exports to Persian Gulf ports, bypassing Red Sea due to Houthi threats
Saudi Arabia is sharply increasing oil loadings from its Persian Gulf ports, with around 7 million barrels of shipping capacity loading at Ras Tanura on Tuesday. This move comes as Houthi threats disr
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Donald Trump said the Strait of Hormuz is operating normally, with 10 million barrels of oil flowing out yesterday.
Donald Trump said the Strait of Hormuz is operating normally, with 10 million barrels of oil flowing out yesterday.
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Satellite Image Shows Surge in Iraq’s Persian Gulf Oil Loadings
Oil loadings from Iraq’s export installations in the Persian Gulf jumped on Monday with seven tankers collecting the nation’s cargoes, signaling that regional flows might be climbing.
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Ukraine's double-barreled drone strikes snarl Russian oil flows from Novorossiysk and tumble crude processing
Ukraine's double-barreled drone strikes snarl Russian oil flows from Novorossiysk and tumble crude processing
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Iraq seeks OPEC+ oil output quota hike, targets doubling production to 8-10 million bpd in six years
Iraq has sent a delegation to Saudi Arabia, seeking an increase in its OPEC production quota and warning that it might follow the UAE's example and exit OPEC if its production cannot be increased. Ira
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TotalEnergies CEO stated that the cost of transporting an oil cargo on a supertanker through the Strait of Hormuz is approximately $20 million.
TotalEnergies CEO stated that the cost of transporting an oil cargo on a supertanker through the Strait of Hormuz is approximately $20 million.
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Iran's oil shipments to Asia have almost dried up ahead of US action, with freight rates soaring to multi-year highs.
Iran's oil shipments to Asia have almost dried up ahead of US action, with freight rates soaring to multi-year highs.
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Pemex and Petrobras Partner for High-Risk Deepwater Drilling in Mexico's Gulf, Targeting Vast Jurassic Oil Resources
Mexico's state oil firm Pemex and Brazil's national oil company Petrobras are joining efforts to explore deep Jurassic formations in Campeche Bay, Gulf of Mexico. This high-risk, high-reward venture a
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Exxon Mobil expects Tengiz, one of its largest oil fields, to peak next year and begin to decline, but the company says other projects will drive total production growth.
ExxonMobil has informed Kazakhstan that its largest Tengiz oilfield is expected to peak next year and decline by nearly 40% to about 500,000 barrels per day by 2035. However, ExxonMobil stated that th
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Houthi Red Sea Threats Resurface, Forcing Saudi Oil Logistics to Adjust Again
Yemen's Houthi threats have made it difficult for Saudi Arabia to use an alternative route crucial for global oil supplies, forcing it to adjust its oil transportation methods once again.
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India's reliance on Russian oil hits an all-time high, exposing New Delhi's energy security vulnerabilities amid the Middle East conflict.
India's reliance on Russian oil hits an all-time high, exposing New Delhi's energy security vulnerabilities amid the Middle East conflict.
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US President Donald Trump accused oil giants like Shell of price gouging and called for a Department of Justice review; the article analyzes that oil prices are determined by the market and points out that Shell and others doubled their profits in the first half of the year
U.S. President Donald Trump recently accused oil companies, including Shell, ExxonMobil, and Chevron, of price gouging and called on the U.S. Department of Justice to investigate. However, some analys
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Iraq aims to more than double oil output to 8-10M bpd in 6 years, seeks higher OPEC quota; Chevron signs MOUs to develop key fields.
Iraq recently sent a delegation to Saudi Arabia seeking a higher production quota from OPEC to support its goal. Chevron signed MOUs for the West Qurna 2 and Nassiriya oilfields; West Qurna 2, current
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The U.S. military says it has helped 660 million barrels of oil pass through the Strait of Hormuz since May.
U.S. Central Command told CNBC this week that it also assisted approximately 1,300 merchant vessels through the strait during the same period. Despite Iranian threats and attacks, these figures indica
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Venezuela's Oil Exports Capped by Aging Ports, Tankers Face Up to 30-Day Delays, Threatening US-Backed Expansion
Venezuela's aging oil terminals are limiting its export recovery, with tankers waiting up to 30 days to load due to equipment failures, power outages, and crude-quality problems. Despite rising produc
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Iran's oil supply to Chinese refineries is rapidly depleting due to U.S. sanctions.
Bloomberg reported that Iranian oil available to Chinese buyers is rapidly depleting, indicating that the U.S. blockade of Iranian ports has effectively cut off Tehran's revenue.
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Bloomberg: Venezuelan officials negotiated oil deals with U.S. oil executives in Texas this week, but the process was opaque and rules uncertain.
Bloomberg: Venezuelan officials negotiated oil deals with U.S. oil executives in Texas this week, but the process was opaque and rules uncertain.
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Exxon Warns Kazakhstan's Top Oil Field Output to Peak Within Years, Followed by Sharp Decline
ExxonMobil Holdings Corp. has told Kazakhstan that the nation’s top oil field is already on the cusp of peak output and that its production will slump sharply in the coming decade.
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Demand for tankers soars as Gulf oil producers seek export solutions
Oil-exporting countries are looking to secure their own fleets, which is driving up prices, particularly for readily available vessels.
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US Energy Under Secretary Haustveit says about half of Venezuela's oil output is now being exported to the US
US Energy Under Secretary Haustveit says about half of Venezuela's oil output is now being exported to the US
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Iranian Foreign Minister Araghchi stated that U.S. engagement is a "positive step," and the implementation period for the Strait of Hormuz opening plan has been shortened to 2 days.
Iranian Foreign Minister Araghchi told Al Jazeera that the US attempt to open dialogue was a "positive step," but there were no plans to meet with US officials at present. He noted that the implementa
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Russia's Novak says attacks on oil refineries will have negative impact on diesel fuel supplies to global market
Russia's Novak says attacks on oil refineries will have negative impact on diesel fuel supplies to global market
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Strait of Hormuz tensions persist: Iran claims multiple oil tankers struck by mines, destroys enemy unmanned vessel; Oman Navy rescues crew.
Al Jazeera's latest report indicates that Iranian authorities have reported multiple incidents recently in and around the Strait of Hormuz. The Islamic Revolutionary Guard Corps Navy stated that it pr
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Iran suspected of tactical shift, attacking oil tanker with limpet mines in Strait of Hormuz on Thursday, first time since 2019.
Iran suspected of tactical shift, attacking oil tanker with limpet mines in Strait of Hormuz on Thursday, first time since 2019.
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Financial Times: ExxonMobil and Chevron Post Huge Profits, Warn on Diesel Supply, Attributing It to Trump's War in Iran Driving Up Refining Margins
The Financial Times reported that U.S. oil giants ExxonMobil and Chevron announced massive profits and issued warnings about diesel supplies. The report noted that U.S. oil companies are profiting fro
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Chinese state-owned oil giants improve profits, gaining more "firepower" to boost energy security
Chinese state-owned oil giants improve profits, gaining more "firepower" to boost energy security
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Houthi rebels claim responsibility for attacks on six Saudi airports and oil facilities, including the Ras Tanura and Abqaiq refineries.
The Houthi movement claimed responsibility for attacks on six airports and oil facilities in Saudi Arabia, including the Ras Tanura and Abqaiq refineries. This attack occurred earlier this week after
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Iran's IRGC says four tankers struck naval mines in Strait of Hormuz after using "unauthorised" routes
Iran's IRGC says four tankers struck naval mines in Strait of Hormuz after using "unauthorised" routes
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EU Energy Commissioner warns: No oil and gas shortages expected, but rising prices will make it difficult for citizens to pay bills this winter.
EU Energy Commissioner Dan Jorgensen warned that while oil and gas supply shortages are not expected, rising prices will make it difficult for many EU citizens to pay their bills this winter. Followin
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ExxonMobil and Chevron have withdrawn from next month's Abu Dhabi oil conference due to escalating security concerns in the Middle East.
ExxonMobil and Chevron have withdrawn from next month's Abu Dhabi oil conference due to escalating security concerns in the Middle East.
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IRGC says 3 tankers caught fire in Strait of Hormuz after hitting mines, warns shipping operators
Three tankers have caught fire while passing through the Strait of Hormuz after hitting mines over the past 24 hours, according to the Islamic Revolutionary Guard Corps (IRGC) Navy. The IRGC navy says
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SK Innovation's Q3 operating profit surges 532.5% to $2.3 billion on strong oil, lubricants margins
SK Innovation's Q3 operating profit surges 532.5% to $2.3 billion on strong oil, lubricants margins
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President Trump announces the arrival of the first one million barrels of oil in Texas, secured through a historic deal with Venezuela, stating it gives the US control over a massive part of the world's oil supply.
President Trump announced yesterday in Corpus Christi, Texas, the arrival of the first one million barrels of oil secured by his administration as part of a historic deal with Venezuela. This oil, arr
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Donald Trump will announce a relaxation of regulations on methane leaks from oil companies, according to The Washington Post.
Donald Trump will announce a relaxation of regulations on methane leaks from oil companies, according to The Washington Post.
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According to the Financial Times, Washington is discussing deals between US oil majors and Russia in Ukraine peace talks.
According to the Financial Times, Washington is discussing deals between US oil majors and Russia in Ukraine peace talks.
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Saudi Aramco is offering spot crude oil to European buyers for this month and next to compensate for supply losses caused by the shutdown of a key export pipeline.
Saudi Aramco is offering spot crude oil to European buyers for this month and next to compensate for supply losses caused by the shutdown of a key export pipeline.
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Trump: We're going to accept 1 million barrels of oil
Trump: We're going to accept 1 million barrels of oil
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Donald Trump stated that he believes he will visit an oil tanker carrying Venezuelan oil in Texas, and that he thinks Rubio will accompany him.
Donald Trump stated that he believes he will visit an oil tanker carrying Venezuelan oil in Texas, and that he thinks Rubio will accompany him.
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Russian oil exports reached a one-month high, primarily due to a strong rebound in shipments from the Baltic port of Primorsk last week, though this was not enough to boost overall four-week flows.
Russian oil exports reached a one-month high, primarily due to a strong rebound in shipments from the Baltic port of Primorsk last week, though this was not enough to boost overall four-week flows.
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Iran’s Persian Gulf Strait Authority said it would take “legal action” against tankers belonging to Sinokor, the world’s biggest oil tanker owner that has carried millions of barrels out of the Strait of Hormuz in recent weeks.
Iran’s Persian Gulf Strait Authority said it would take “legal action” against tankers belonging to Sinokor, the world’s biggest oil tanker owner that has carried millions of barrels out of the Strait
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OPEC+ is expected to maintain its oil output targets at Sunday's meeting, sources said.
OPEC+ is expected to maintain its oil output targets at Sunday's meeting, sources said.
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Saudi Arabia has brought a fire under control following an attack near the Ras Tanura oil hub.
Saudi Arabia has brought a fire under control following an attack near the Ras Tanura oil hub.
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Venezuelan opposition leader Maria Machado has returned to the country after 10 months in exile
Venezuelan opposition leader Maria Machado has returned to the country after 10 months in exile, having previously been blocked from returning multiple times by both the Venezuelan government and the
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Oil fell for a second day as intensified diplomatic efforts eased concerns about a potential escalation of the U.S.-Iran conflict.
Oil fell for a second day as intensified diplomatic efforts eased concerns about a potential escalation of the U.S.-Iran conflict.
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