Iran is shipping large amounts of oil that had previously been held back by a US blockade, a potential boost for Tehran after it signed an interim peace deal with Washington on Wednesday. A total of 11 tankers hauling a combined 20 MMbbl were detected leaving the Iranian port of Chabahar on the Gulf of […]
Texas’ upstream oil and natural gas sector added 4,100 jobs in May, according to the latest workforce analysis from the Texas Independent Producers and Royalty Owners Association (TIPRO), reflecting continued strength in the state’s energy industry despite ongoing volatility in global markets. Citing data from the U.S. Bureau of Labor Statistics, TIPRO reported that upstream employment increased […]
Millions of barrels of crude oil continued moving through the Strait of Hormuz over the weekend despite Iran’s announcement that it had closed the critical waterway, highlighting growing uncertainty over the actual status of the world’s most important oil transit route. Vessel-tracking data showed several laden supertankers transiting Hormuz on Saturday and Sunday, carrying crude […]
Ivory Coast is strengthening its position as one of West Africa’s fastest-growing upstream oil and gas markets, with major offshore developments advancing, new drilling campaigns planned and efforts underway to expand access to project financing across the continent. During a high-level meeting in Abidjan this week, officials from the African Energy Chamber (AEC) and Ivory […]
Woodside Energy and Senegal’s national oil company Petrosen are discussing a potential second phase of development at the offshore Sangomar field that could unlock an additional 250 MMbbl of recoverable oil, according to comments highlighted this week by the African Energy Chamber (AEC). The expansion discussions come two years after Sangomar delivered first oil in June 2024, marking Senegal’s entry into […]
Alexander Nagelhout, managing director of Well Engineering Partners (WEP), and Blaise Kudatugu, CEO of Lubrimax Ghana, talk to The Energy Year about the Voltaian Basin’s hydrocarbons potential and the capabilities needed for Ghana to emerge as a leading frontier oil and gas market. Well Engineering Partners is a Dutch provider of well and drilling engineering, […]
Ukrainian drones have hit a Moscow oil refinery for the second time this week while Russia fired missiles at Kyiv, as President Volodymyr Zelenskyy seeks support from the United States and Europe to reach a deal to end the war. Russia’s Defence Ministry said on Thursday that its air defences shot down 555 Ukrainian drones […]
Germany may be getting cold feet about ending its oil reserve waiver. Berlin said this week it is considering extending a temporary reduction in national oil stockpiling requirements beyond the current August 31 deadline, even as markets celebrate the U.S.-Iran agreement and the expected reopening of the Strait of Hormuz. Officially, Germany insists there are […]
Tankers carrying a total of 80 million barrels of crude are preparing to move through the Strait of Hormuz after the signing of the preliminary deal between the United States and Iran, Bloomberg reported today, citing data from Vortexa. The crude is on 40 tankers, of which 21 will be heading for Asia, with five going to […]
Oil prices began to climb once again in early Asian trade on Friday due to uncertainty over the outcome of peace talks between the United States and Iran after Switzerland confirmed the talks had been postponed. At the time of writing, Brent crude had climbed back above $80 per barrel while West Texas Intermediate had risen to $76.28. Reuters reported on […]