Seatrium Limited has announced the impending delivery of the PETROBRAS 78 (P-78) – the first of a series of turnkey Floating Production Storage and Offloading vessels (FPSO), to Brazil’s Petrobras.
The Association of the Petroleum Industry of Kurdistan (APIKUR) has spoken out condemning attacks on oil production sites operated by APIKUR member companies in Iraq’s Kurdistan Region that occurred on July 15 and July 16, 2025.
Activity is slowing in U.S. oil fields as drillers remain in the crude-price danger zone for profits, according to one of the biggest investors of private operators in the shale patch.
TotalEnergies is reviving its USD 20-billion LNG project in Mozambique’s Cabo Delgado province after the government declared conditions safe for operations to restart, Lusa reported on Monday.
Angola has made a major natural gas discovery, marking a breakthrough in the country’s efforts to diversify its fossil fuel production. Azule Energy, a joint venture between BP Plc (NYSE:BP), Eni S.p.A. (NYSE:E) and a group of Angolan companies successfully drilled the country’s first dedicated gas exploration well in the Lower Congo Basin, with preliminary estimates suggesting the reserve holds more than 1 trillion cubic feet of natural gas and up to 100 million barrels of condensates.
Oil markets have largely ignored Trump’s threats to impose 100% secondary tariffs on any country that buys Russian exports, with prices dropping significantly on Tuesday morning.
As Trump officials signal plans to refill the Strategic Petroleum Reserve (SPR)—drained under the Biden-Harris regime—a new report reveals that ExxonMobil has begun drawing from the SPR due to contaminated crude supplies from offshore rigs in the Gulf of America to avoid refinery outages.
The OPEC+ producers pumped 41.559 million barrels per day (bpd) of crude oil in June, up by 349,000 bpd from May, but lower than the 411,000 bpd monthly increase under the alliance’s output hike plan.
Weeks after New Fortress Energy rallied on news of a temporary contract extension for LNG supply to Puerto Rico, Bloomberg now reports the island has idled temporary power plants after the company abruptly halted a critical gas shipment, raising the risk of power outages at the peak of summer demand.
Amid heated debates about how quickly and at what cost the world could reach net-zero emissions during constant geopolitical shifts and market turbulence, several oil-producing nations are doubling down on oil and their role in global crude supply.