Industry & Analysis
News
June 02, 2026
Despite ongoing U.S.-Iran negotiations, commercial shipping traffic through the Strait of Hormuz remains sparse, highlighting continued uncertainty over when energy flows may begin returning to normal.
News
June 02, 2026
Vitol has warned that Western governments are underestimating the severity of the global oil supply crunch caused by disruptions in the Strait of Hormuz, with the company estimating demand destruction has reached approximately 4 MMbpd worldwide.
News
June 01, 2026
Oil prices climbed sharply after reports that Iran plans to suspend communications with the United States, raising concerns about ongoing ceasefire negotiations and efforts to restore energy exports through the Strait of Hormuz.
News
May 30, 2026
Ship traffic through the Strait of Hormuz is beginning to recover as U.S. military officials provide navigation guidance to commercial vessels, offering cautious optimism for oil and LNG flows despite continuing security concerns in the region.
News
May 29, 2026
Chevron CEO Mike Wirth said multiple vessels transiting the Strait of Hormuz were attacked this week, highlighting persistent security risks for oil shipping even as the United States and Iran move closer to a potential ceasefire agreement.
News
May 28, 2026
The U.S. and Iran have reportedly reached a tentative agreement to extend their ceasefire by 60 days and continue negotiations over Tehran's nuclear program and the Strait of Hormuz, though final approval from President Trump remains pending.
News
May 28, 2026
Reform UK Deputy Leader Richard Tice promoted expanded North Sea drilling and lower energy costs during a meeting with major energy companies, highlighting growing political pressure on the UK’s net zero and energy transition policies.
News
May 28, 2026
Three oil tankers tied to Russia’s shadow fleet were reportedly targeted by drone attacks during ship-to-ship crude transfer operations in the Black Sea near Turkey, highlighting escalating risks to regional oil shipping routes.
News
May 27, 2026
In a new opinion piece, World Oil Editor-in-Chief Kurt Abraham examines an unusual Texas primary runoff that saw three pro-industry Republicans—including Sen. John Cornyn and Railroad Commission Chairman Jim Wright—lose high-profile races with potential implications for future energy policy debates.
News
May 27, 2026
African investors and energy companies are increasingly targeting Brazil’s pre-salt developments and Argentina’s LNG infrastructure expansion as part of a broader push to diversify upstream and energy investments beyond domestic markets.
News
May 27, 2026
Former bp chairman Albert Manifold said he was removed without warning or explanation after the company cited governance and conduct concerns, escalating leadership turmoil at the oil major.
News
May 26, 2026
ExxonMobil and ConocoPhillips are negotiating potential re-entry into Venezuela’s upstream sector while seeking stronger investment protections, contract stability and mechanisms to recover billions tied to past nationalizations.
Article
May
Most U.S. operators in Fed District 11 indicated in the original first-quarter 2026 survey that they expected market conditions to improve modestly, influenced partially by the early part of the Iran war. Fed District 11 analysts conducted a special, extra first-quarter survey to re-check executives’ attitudes and found most of them expect prices to remain higher than before hostilities began.
News
May 26, 2026
Oil prices rebounded as renewed military tensions between the U.S. and Iran complicated negotiations aimed at reopening the Strait of Hormuz, prolonging uncertainty across global crude and LNG markets.
News
May 26, 2026
bp has removed Chair Albert Manifold with immediate effect following governance oversight and conduct concerns raised by the company’s board, naming Ian Tyler as interim chair while a permanent successor search begins.
News
May 25, 2026
Eni and its partners have approved the Baleine Phase 3 offshore development in Côte d’Ivoire, a project expected to raise oil production to 150,000 bopd and expand domestic natural gas supply through a new FPSO installation.
News
May 25, 2026
Oil prices fell sharply as U.S. and Iranian officials signaled progress toward a potential agreement to reopen the Strait of Hormuz, easing concerns over global crude and LNG supply disruptions.
News
May 24, 2026
U.S. and Iranian negotiators are reportedly nearing a framework that could reopen the Strait of Hormuz, a critical chokepoint for global oil and LNG trade, though major disagreements over sanctions and uranium enrichment remain unresolved.
News
May 22, 2026
A federal oil and gas lease sale covering Permian basin acreage in Texas and New Mexico generated more than $4 billion, marking the largest onshore lease auction in U.S. history as operators ramp up drilling activity amid stronger oil prices and pro-development policy shifts.
News
May 22, 2026
The African Energy Chamber is promoting new upstream investment opportunities across Africa to South American operators, highlighting LNG expansion, shale gas development and frontier exploration activity across the continent.
