Oil prices fell sharply in early Asian trade on Thursday, with both major crude benchmarks retreating by around 3 percent as markets reacted to comments from U.S. President Donald Trump that appeared to lessen the likelihood of an imminent U.S. military strike on Iran.
Saudi Aramco signed a long-term supply deal with Commonwealth LNG, Reuters has reported, citing unnamed sources in the know. The size of the annual shipments will be 1 million tons.
Arabian Drilling has secured three land rig contract extensions in Saudi Arabia worth USD 373 million, extending its backlog by 25 rig years, the company announced on Tuesday.
India’s Urja Bharat (UBPL), a 50-50 joint venture between IndianOil and Bharat Petroleum, has made an oil discovery in Abu Dhabi’s onshore Block 1, IndianOil and Bharat Petroleum announced on Tuesday.
bp said it expects to record $4 billion to $5 billion in post-tax impairments in the fourth quarter of 2025, largely tied to its energy transition businesses, according to a trading statement released ahead of its full-year results.
Oil fell after the close, wiping out a day of gains after US President Donald Trump said he had been assured that Iran would stop killing protesters, signaling he could hold off on a threatened military response to the repression of widespread demonstrations in the nation.
MidOcean Energy LLC, a liquefied natural gas company founded by EIG, is in talks to join Argentina’s signature LNG venture, according to people familiar with the matter.
TotalEnergies has signed an agreement to sell its 10% interest in a Nigerian joint venture, the company said on Monday.
Ghana said it had cleared $1.47 billion worth of energy sector debt.
Global oil prices surged on Tuesday as markets reacted to the escalating drone strikes at the Novorossiysk terminal, which handles roughly 2% of the world’s daily supply. The disruption to the Caspian Pipeline Consortium (CPC) infrastructure, a vital artery for Kazakh exports managed by Western majors like Chevron and Shell, raised immediate fears of a prolonged supply squeeze.