Oil may rally to as much as $120 a barrel if attacks on shipping in the Middle East increase, according to Goldman Sachs Group Inc., which recommended bets on natural gas and diesel as a way to capture gains.
Petroliam Nasional Bhd (Petronas) and Eni SpA have signed a collaboration agreement to test newer processes to produce biofuels for high-performance deployment.
Kistos Holdings has taken legal ownership of producing Blocks 3 and 4 onshore Oman from Mitsui E&P Middle East following the issuance of a Royal Decree, marking the company’s entry into the MENA upstream sector.
ExxonMobil will take operatorship of the Papua LNG project as the partners advance the $14 billion development toward a final investment decision (FID), TotalEnergies announced.
Argentina is intensifying pressure on companies over offshore oil development around the Falkland Islands as the territory moves closer to first production, reviving a longstanding dispute with the UK.
Decom Engineering has secured nine mooring chain cutting projects so far in 2026, with two-thirds supporting offshore installation campaigns as the company expands its technology beyond traditional decommissioning work.
Oil moved higher on a thin day of holiday trading as risks to oil flows through the Strait of Hormuz continued to support prices, alongside the return of Chinese crude purchasing.
The prices of crudes from Canada, South America, and Africa have jumped in recent weeks as Chinese oil import demand is rising from a decade-low, benchmark prices rally, and Middle East supply remains disrupted.
Depleted oil and gas reservoirs and existing energy infrastructure across Africa are emerging as potential foundations for carbon capture and storage (CCS) development, offering producers a way to repurpose upstream assets while reducing emissions from hydrocarbon operations.
Brian Unietis, Lead Country Manager of ExxonMobil Angola, talks to The Energy Year about extending the productive life of Block 15 through new drilling, tiebacks and facility investments, Angola’s upstream investment environment and the company’s approach to local development.