The U.S. and China called for the Strait of Hormuz to reopen following talks between President Donald Trump and Chinese President Xi Jinping, though negotiations over the Iran conflict remain deadlocked as global oil prices continue climbing.
Mexican President Claudia Sheinbaum has tapped Juan Carlos Carpio to lead Pemex as the state oil company grapples with mounting debt, declining production and broader fiscal pressure.
Velesto Energy has secured its first asset-light drilling contract through a third-party charter arrangement, winning a jackup rig contract from Hibiscus Oil & Gas Malaysia for an offshore drilling campaign in Malaysia.
The U.S. and Iran remained far apart Sunday on negotiations aimed at ending the conflict and reopening the Strait of Hormuz, while a drone strike near a United Arab Emirates nuclear facility underscored ongoing security risks across the Gulf region.
Shell PLC remitted a total of $23.84 billion to governments in 24 countries where the British energy giant has upstream activities last year, with Brazil displacing Nigeria as top recipient at $4.25 billion.
PetroTal Corp. said it is preparing to resume development drilling at its Bretana field in Peru later this year as the company works to stabilize production and return to growth.
BW Offshore has amended its contract with the Catcher field partners to extend operations for the FPSO BW Catcher through Dec. 31, 2030, with a six-month flexibility window.
Devon Energy Corporation and Coterra Energy Inc. have completed their previously announced all-stock merger, creating a large-scale shale producer with a strengthened position in the Delaware basin and expanded operations across several major U.S. resource plays.
Sun Petrochemicals Pvt. Ltd. has selected Sercel WiNG 3C nodes for what the companies described as India’s first 3C MEMS nodal seismic survey, marking a technology milestone for the country’s upstream sector.
U.S. commercial crude oil inventories, excluding those in the Strategic Petroleum Reserve (SPR), decreased by 2.3 million barrels from the week ending April 24 to the week ending May 1.