Texas Railroad Commission Chairman Jim Wright said Texas oil and natural gas production remains a cornerstone of U.S. energy supply in a letter to President Donald Trump, emphasizing the state’s role in supporting national energy security.
The International Energy Agency said oil from an unprecedented stockpile release will be made available immediately in Asia, where buyers are clamoring to replace barrels lost to war-related disruptions in the Middle East.
ExxonMobil and Halliburton have completed what the companies describe as the industry’s first fully automated closed-loop geological well placement system during offshore drilling operations in Guyana.
Eni has discovered more than 1 Tcf of gas in two exploration wells drilled offshore Libya near the producing Bahr Essalam field, the company announced Monday.
Oil prices retreated from last week’s multi-year highs on Monday as a small number of tankers successfully sailed through the Strait of Hormuz for the first time since the war began, offering traders a first tentative signal that the waterway could partially reopen, though analysts warned that a sustained price retreat remained unlikely without a broader military resolution.
An International Relations Analyst, Ishmael Hlovor, has underscored the importance of continental unity in addressing the challenges African countries face in procuring crude oil from Western nations and the Middle East.
Ghana’s external reserves have strengthened significantly, with the Bank of Ghana reporting an increase to approximately $14.5 billion, providing around 5.8 months of import cover.
The value added of the Gulf oil sector at current market prices reached approximately $561.2 billion in 2024, accounting for a 24.0% share of the regional GDP. At constant prices, the value added stood at $541.9 billion, representing a 29.3% contribution, according to the latest data from the GCC Statistical Centre.
Cuban President Miguel Díaz-Canel has said that his government is in talks with the Trump administration to find solutions to the two countries’ differences, as the Caribbean country continues to face the effects of a US oil blockade.
TotalEnergies SE and its partners have started up the Lapa Southwest project, increasing production capacity in the Lapa field in the Santos basin offshore Brazil to about 60,000 barrels per day (bpd) of oil.