Equinor ASA has signed a two-year contract with Norwegian compatriot Wallenius Wilhelmsen ASA to supply the ro-ro shipper with locally produced bio-methanol from 2026.
The International Energy Agency laid out a timeline for when it expects the 400 million barrels of oil from its emergency reserves to start flowing from global markets.
TotalEnergies has shut down operations in the Middle East for approximately 15% of its total production, the company has said in a statement outlining its exposure to the US-Iran war.
Petronas has confirmed its first hydrocarbons discovery at the Barokah-1 exploration well offshore East Java in Indonesia, the company announced on Thursday.
OPEC’s crude oil production climbed last month as group leader Saudi Arabia bolstered production amid rising regional tensions, a Bloomberg survey showed.
Crude oil futures traded higher on Monday morning after the US attacked military assets on Kharg Island over the weekend.
The Trump administration started the process of a mammoth drawdown of the U.S. emergency oil reserve, issuing a request to exchange 86 MMbbl of crude oil.
California’s Natural Resources Agency has ordered Houston-based oil driller Sable Offshore Corp. to remove a pipeline crossing a state park days after the US government instructed the company to begin pumping crude through the conduit.
The Trump administration has ordered the restart of offshore oil production at California’s Santa Ynez Unit and the associated Santa Ynez Pipeline System, directing operator Sable Offshore Corp. to restore operations in an effort to strengthen domestic crude supply on the U.S. West Coast.
The U.S. Energy Department reiterated Sunday that a planned 172-million-barrel release of oil from the country’s Strategic Petroleum Reserve would be structured as an exchange.