Bahrain’s main energy company, which operates the island nation’s only oil refinery, declared force majeure on operations that have been impacted by the ongoing war in the Middle East.
U.S. Energy Secretary Chris Wright sought to counter market warnings about an extended Middle East war, saying global energy supplies are sufficient and the surge in oil prices reflects a “fear premium” that won’t last.
Shipping through the Strait of Hormuz remained near a standstill for a seventh consecutive day, with Iran-linked vessels the only commercial ships observed transiting the critical waterway over the past 24 hours, according to vessel-tracking data compiled by Bloomberg.
Oil prices surged in early Asian trading on Monday, breaking above $100 per barrel for the first time in nearly four years as the Iran conflict escalated and Ayatollah Mojtaba Khamenei was chosen as supreme leader.
Equinor has concluded its investigation into a well control incident on the Deepsea Bollsta drilling rig at the Troll field, about 65km west of Kollsnes near Bergen, which involved a release of around 930kg of gas.
Subsea7 has secured additional contract work from the Turkish Petroleum Offshore Technology Center (TP-OTC) pertaining to the Sakarya field development offshore Türkiye.
Russia is ready to divert oil to India to offset Middle East supply disruptions, with about 9.5 million barrels of Russian crude in vessels near Indian waters and able to arrive within weeks, an industry source with direct knowledge told Reuters. The source declined to say where the non Russian fleet cargoes were originally headed but said they could deliver to India within weeks, giving refiners rapid relief.
Japan’s trade minister Ryosei Akazawa has asked the United Arab Emirates and Saudi Arabia to cooperate in ensuring stable crude oil supplies and stabilizing the global crude oil market in order to enhance energy security, Jiji Press reports.
Karpowership Ghana has reaffirmed its commitment to building engineering capacity and advancing inclusion within Ghana’s energy sector as the global community marks World Engineering Day for Sustainable Development 2026.
Exxon has scheduled its first-ever gasoline shipment from the U.S. Gulf Coast to Australia amid a global fuel export crunch because of the war in the Middle East.