The risk of global oil oversupply is diminishing thanks to demand resilience, Diamondback Energy said in a letter to shareholders authored by the company’s chief executive ahead of the company’s fourth-quarter 2025 financial report, due out later today.
Russia is exporting crude oil at rates higher than before its 2022 invasion of Ukraine and the barrage of Western sanctions that followed it, many targeting specifically the oil industry.
Naftogaz Group is set to receive liquefied natural gas (LNG) via a terminal in Germany for the first time, opening up a new route for the import of gas into Ukraine, the Ukrainian state-owned integrated energy company said Monday.
Iraq’s cabinet has approved an agreement with Russia’s Lukoil to transfer oil production operations at the West Qurna 2 field to Basra Oil Company, marking a major shift in management of one of the country’s largest upstream assets.
Seatrium is advancing a series of non-core asset divestments expected to deliver more than S$50 million (US$39.5 million) in annualized operational cost savings by early 2026, as the offshore engineering group restructures its global yard footprint.
ORLEN has expanded its upstream position on the Norwegian Continental Shelf through equity acquisitions in the Greater Ekofisk Area, adding roughly 8 MMboe to its resource base and advancing a sanctioned development project.
PT Pertamina (Persero) and Halliburton have signed a memorandum of understanding aimed at advancing unconventional well construction and stimulation technologies across Indonesia’s onshore fields.
The State Oil Company of the Azerbaijani Republic (SOCAR) and Gran Tierra Energy Inc. have signed a production sharing agreement (PSA) covering exploration and development of a prospective onshore block in Azerbaijan’s Guba-Caspian region.
The ratcheting up of tensions between the United States and Iran could push an already red-hot supertanker market even higher with rates soaring to the highest level since 2019, analysts say.
A jump in China’s crude oil imports from Russia is more than compensating the withdrawal of the Indian refiners from spot Russian purchases, according to tanker-tracking data