Vitol has strengthened its presence in the Iraqi oil market by purchasing at least 25 million barrels of crude in September 2026, a move reflecting how major oil traders are capitalizing on supply disruptions in the Gulf region. The Swiss-based Dutch multinational energy and commodity trading company is leveraging its shipping and logistics capabilities to […]
The New Mexico State Land Office on Monday announced that it had finalized higher bonding requirements for oil and gas companies that lease state Trust lands. The rule goes into effect Monday, marking the end of a months-long process aimed at ensuring New Mexico taxpayers and the beneficiaries of state Trust lands do not bear […]
Venezuela’s energy sector is entering a period of significant commercial change, with a reworked hydrocarbons framework beginning to translate into new agreements with international energy companies. Venezuela is moving from regulatory reform toward implementation. In January 2026, the country enacted a reform of its Organic Hydrocarbons Law, introducing new contractual mechanisms for primary hydrocarbon activities […]
Saudi Arabia has completed repairs on its East-West pipeline, which had been shut down by a drone attack. The pipeline, which has served as a bypass route around the Strait of Hormuz since the U.S.-Iran war, is running again, raising the question of whether crude prices that have climbed above $100 a barrel will stabilize. […]
Yangarra Resources Ltd. has drilled 17 Belly River wells at its Chambers development in Alberta over the past two years, as the company continues to expand its drilling inventory and improve well performance. Yangarra has invested $58 million in drilling, completions and related land acquisitions for the Chambers Belly River program. By the end […]
Comstock Resources, Inc. and Azerbaijan’s SOCAR have signed a framework agreement advancing their previously announced $1.65 billion strategic partnership in the Haynesville shale. The agreement formalizes the companies’ commitment to negotiate and execute a definitive purchase and sale agreement consistent with the letter of intent announced earlier this year. Comstock expects the definitive agreement […]
INEOS is marking 10 years since the first shipment of U.S. shale ethane arrived at its Grangemouth complex in Scotland, establishing a supply route that has since delivered more than 400 cargoes of feedstock to the petrochemical site. The first purpose-built Dragon-class vessel, the JS INEOS Insight, arrived at Grangemouth on Sept. 28, 2016, […]
Oman’s Ministry of Energy and Minerals has awarded OQ Exploration and Production (OQEP) three petroleum concession agreements covering more than 30,000 square kilometres, in a solo award that expands the majority state-owned company’s domestic exploration footprint. The agreements, covering blocks 36, 43A and 66, were signed on September 26 by Energy and Minerals Minister Salim […]
Eni has won the bid for a new license area in Indonesia near its existing discoveries in the Southeast Asian archipelago. “The Sapukala offshore block covers a large area in the deep-water sector (1,000-2,500 m water depth) of the Kutei Basin, East Kalimantan”, the Italian state-controlled company said in a press release. “The acreage is […]