U.S. Class VI carbon storage permitting activity gained momentum during the first quarter of 2026, although new permit applications slowed, according to a new report from Enverus Intelligence Research (EIR).
Chevron has filed a request to buy 70% in an oil and gas exploration block offshore southwest Greece in what would be another step in the U.S. supermajor’s expansion in the Eastern Mediterranean.
The U.S. federal government has extended the deadline for talks between Lukoil and potential buyers of its foreign business by another month, until June 27, suggesting the forced divestment process is turning out to be more complicated than maybe hoped for.
A tanker loaded with crude oil from the U.S. strategic petroleum reserve has set off from the Gulf of Mexico to the Philippines in what is the first U.S. oil shipment to Asia since late 2022, Reuters reported, citing shipping data.
The U.S. and Iran are moving closer to a potential agreement that could reopen the Strait of Hormuz, though negotiators remain divided on key provisions tied to sanctions relief, uranium enrichment and enforcement measures.
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.
A bipartisan group of U.S. senators has introduced legislation aimed at preventing future presidential administrations from pausing or delaying liquefied natural gas (LNG) export approvals, drawing support from oil and gas industry organizations and energy workforce groups.
Enverus, a firm that provides analytics, reported on Wednesday that the amount of deals in the U.S. oil and gas sector upstream jumped to $38 billion during the first quarter this year. This was the highest quarterly figure in two years. Last week, Devon Shale Producers and Coterra, a smaller competitor to Devon, closed their merger after first announcing the plans in February. This deal, valued at $25 billion, took up the majority of Q1’s dealmaking.
The Trump administration announced Monday it would loan out 53.3 million barrels of oil from the country’s Strategic Petroleum Reserve to energy companies – an attempt to bring down skyrocketing oil prices as a result of the U.S. war with Iran.
The U.S. Energy Information Administration will begin publishing new quarterly energy security datasets on May 13 covering global strategic petroleum reserves and shipping flows through key oil and LNG chokepoints, as ongoing disruption in the Strait of Hormuz continues to reshape global energy markets.