Russia’s Black Sea port of Tuapse was targeted and hit by a new Ukrainian drone strike early on Friday, in the fourth attack on the port in just one week as Ukraine looks to limit Russia’s oil exports and revenues amid soaring crude prices.
The U.S. Environmental Protection Agency has clarified federal regulations to allow limited routine flaring of associated gas at new oil wells under certain conditions beyond the 2026 phaseout deadline.
bp Plc is considering potentially exiting part or all of its operations in the UK North Sea, people familiar with the matter said, as the oil giant works to strip assets and pay down debt.
Major OPEC+ nations agreed on a modest and symbolic increase in their June production quota levels, as the group sends a business-as-usual message following the surprise exit of the United Arab Emirates. Abu Dhabi at the same moment touted its own growth plans.
Abu Dhabi National Oil Company (ADNOC) has outlined plans to award up to $55 billion in projects between 2026 and 2028, signaling an acceleration of upstream and broader energy investment as the UAE charts its path following its exit from OPEC.
Pakistan has welcomed the first LNG cargo in almost two months as an LNG carrier docked at the GasPort terminal in what would be the first relief to the energy crisis in the country.
Venezuela’s oil exports rose to 1.23 million barrels per day (bpd) in April, the highest level since 2018, as shipments to the United States, India, and Europe accelerated.
The US Department of Energy (DOE) has issued a new request for proposal for up to 92.5 million barrels from the country’s Strategic Petroleum Reserve (SPR) to alleviate oil supply tightness in the wake of the US-Israeli war on Iran, the DOE announced on Thursday.
President Donald Trump said the US will begin guiding some neutral ships trapped in the Persian Gulf out through the Strait of Hormuz starting Monday.
Oil prices edged lower in early Asian trading on Monday after President Trump announced the U.S. would guide ships through the Strait of Hormuz and OPEC+ confirmed a modest output increase.