Argentina’s Vaca Muerta shale play posted significant first-quarter gains in 2025, building on last year’s strong performance, with oil output surging 26% and gas production rising 16% year-on-year, according to Rystad Energy estimates. This growth is shifting Argentina away from its historical dependence on gas imports, pushing the nation closer to energy self-sufficiency.
Singapore’s Seatrium has signed a letter of intent with specialist LPG and petrochemicals shipping company Solvang ASA for the installation and retrofitting of full-scale CCS systems on its VLGC fleet, Seatrium announced on Thursday.
Australia’s Santos Ltd. said the BW Opal floating production, storage, and offloading (FPSO) vessel arrived at the Barossa gas field. This is a critical milestone on the path to first gas in the third quarter of 2025, Santos said in a media release, adding that the FPSO has been hooked up with final commissioning already in progress.
The Railroad Commission of Texas (RRC) has recently imposed over $1.4 million in penalties on oil and gas operators for violations. These penalties were assessed during the June 2025 Commissioners’ Conference, with a total of $1,423,831.00 levied across various enforcement dockets according to The Railroad Commission of Texas.
Oil swung in a turbulent session amid speculation the U.S. may join the Middle East conflict, with traders focused on flows through the region’s vital shipping chokepoint.
Subsea7 has secured a substantial contract offshore Norway. Subsea7’s scope includes engineering, procurement, construction and installation (EPCI) of pipeline bundles, spools, protection covers and tie-ins using key vessels from Subsea7’s fleet.
The PSC includes a firm commitment to drill two exploration wells, targeting drill-ready prospects that offer significant resource potential and are strategically positioned to unlock synergies with Petronas’ existing operations in Suriname.
Crude oil prices continued higher today as the war between Israel and Iran continued unabated, fuelling worry that oil supply from the biggest exporting region may be under threat of disruption.
Oil trading has seen some of its most volatile days in recent history as non-stop missile strikes exchanged between Israel and Iran ratcheted up fears of potential supply disruptions from the Middle East. Amidst unsubstantiated reports of the two sides seeking a ceasefire, the risk premium is back in the ICE Brent as the global crude benchmark remains around the $75 per barrel mark.
Oil prices continued to rise on Tuesday afternoon, following a dip in Monday’s trading session. Today’s oil price action follows Friday’s biggest intraday surge in three years following the Israeli strikes on Iran.
The market’s worst fear—a major supply disruption in the Middle East—hasn’t materialized yet. And it may not, as was the case in the previous Israel-Iran flare-ups in recent years.