The Billion-Dollar Debt Deals Exposing an Oil Giant
Friday, June 26,2026,22:00
Last week, Angola's state oil company, Sociedade Nacional de Combustíveis de Angola (Sonangol), secured a $2.65-billion financing deal with a consortium of international banks to fund the company's operating expenses and capital investments. The financing was heavily backed by a syndicate of foreign lenders including Société Générale, First Abu Dhabi Bank, Standard Bank of South Africa and Absa, while local Angolan banks, including Banco Fomento de Angola (BFA), Banco Millennium Atlântico and Banco Angolano… .. read more..
U.S. crude oil falls below $70, resuming losses after attack on cargo ship ne...
Friday, June 26,2026,21:12
Oil extended declines on Friday, with markets focused any further breakthroughs in the Middle East conflict, while absorbing a flurry of Persian Gulf news. .. read more..
TTF gas and Brent crude: risks and opportunities in two of the world’s most t...
Friday, June 26,2026,21:00
Dutch TTF gas and Brent crude oil are two of the world’s most liquid energy markets. Deep liquidity allows for trusted price benchmark creation that, alongside a wealth of market data, reveals a picture over time of supply security, of fundamental risks – and of potential opportunities. Maritime traffic through the Hormuz Strait is expected ... .. read more..
Oil heads for 3rd weekly decline on easing Middle East supply risks
Friday, June 26,2026,21:00
Oil prices fell more than 3% on Friday and remained on track for a third consecutive weekly decline, as improving traffic through the Strait of Hormuz and optimism over a U.S.-Iran peace agreement outweighed renewed concerns after a cargo ship was attacked near Oman. As of 05:23 ET (09:23 GMT), Brent Oil Futures expiring in ... .. read more..
Venezuela’s oil production, refining unharmed by June 24 earthquakes
Friday, June 26,2026,21:00
No significant damage has been reported to Venezuela’s oil production and refining facilities so far following two earthquakes on June 24, according to sources at state oil company PDVSA. A 7.2 magnitude earthquake was reported as centered about 160 km west of Caracas, followed by a 7.5 magnitude earthquake centered near Moron on the north-central ... .. read more..
Governments and industry leaders discuss strengthening global LPG supply resi...
Friday, June 26,2026,21:00
Government representatives, industry leaders and international organisations gathered today at the jointly hosted International Energy Agency (IEA)-World Liquid Gas Association (WLGA) LPG Leadership Forum to discuss strengthening the resilience of global liquefied petroleum gas (LPG) supplies in the face of growing geopolitical uncertainty. The Forum brought together delegates from 17 governments, more than 80 senior ... .. read more..
Natural gas storage rise surpasses expectations, impacting prices
Friday, June 26,2026,21:00
The Energy Information Administration (EIA) has released its latest report on U.S. natural gas storage, revealing a significant increase in inventories. The actual storage level rose by 76 billion cubic feet, surpassing market expectations and previous data. Market analysts had forecasted a rise of 67 billion cubic feet, but the actual increase of 76 billion ... .. read more..
AI Demand, War, and Climate Pressure Push World Back To Nuclear
Friday, June 26,2026,20:00
Global energy markets are in turmoil as energy crises keep piling up. The energy-hungry AI boom, war in Iran, geopolitical instability, and climate pressures are creating a polycrisis for the global energy sector, and it’s just getting started. To solve multiple overlapping crises, we will need multiple overlapping solutions. An all-of-the-above solution to increasing energy security is therefore gaining favor on a global scale as the precariousness of over-reliance on limited energy supply chains becomes dangerously clear. While fossil fuels… .. read more..
China's Battery Giant Bets Big on Sodium as Lithium Volatility Persists
Friday, June 26,2026,19:00
The world’s largest battery maker is taking a step back from the eclectic vehicles sector to refocus its efforts on energy storage. China’s Contemporary Amperex Technology Co. Ltd. (better known as CATL) has been building up its energy storage portfolio for years now, but the company’s transition away from EVs and toward energy systems has been supercharged by the artificial intelligence boom. Five years ago, just 2 percent of CATL’S sales came from battery storage. Today, storage accounts for a full quarter of the megacompany’s… .. read more..
The IAEA Faces a New Nuclear Puzzle Inside Iran
Friday, June 26,2026,18:00
Amid an ongoing row between Washington and Tehran over whether international monitors can verify Iranian compliance with its nuclear nonproliferation commitments, former officials have told RFE/RL that the scale, scope, and degree of access are crucial to the success of inspections. Details on those have yet to be determined, though Raffael Grossi, head of the International Atomic Energy Agency (IAEA) said the UN body "will be working on the modalities -- dates, procedures, places -- very soon." That doesn't mean, according to experts, that the… .. read more..
US Drillers Add Oil, Gas Rigs As Hormuz Transit Resumes
Friday, June 26,2026,17:44
The total number of active drilling rigs for oil and gas in the United States rose this week, according to new data that Baker Hughes published on Friday, bringing the total rig count in the US to 573, up 26 from this same time last year. The number of active oil rigs rose by 7 to 440 during the latest reporting period, according to the data. This is 8 above this same time last year. The number of gas rigs rose by 3 to 125, which is 16 more than this time last year. The miscellaneous rig stayed the same at 8. The latest EIA data showed that weekly… .. read more..
Equinor Pulls Out of Japan’s Offshore Wind Market
Friday, June 26,2026,17:30
Equinor is ending its offshore wind business activities in Japan and will close its Tokyo office by the end of the year as the Norwegian energy major is realigning its non-oil and gas strategy to focus on power markets. “This decision reflects a reassessment of Equinor’s strategic direction, with a strengthened focus on integrated power markets,” the Norwegian company said on Friday. While Equinor is ending its Japanese presence, Japan will remain an important country for Equinor, which will continue to invest in its longstanding… .. read more..
Canada and Japan Consider Joint Critical Mineral Projects to Counter China
Friday, June 26,2026,16:30
Canada and Japan are considering cooperation in critical mineral projects and a potential plan of joint stockpiling of key metals as the two G7 economies look to reduce China’s outsized dominance in the market, Canada’s Minister of International Trade, Maninder Sidhu, told Reuters in an interview published on Friday. “We're offering Japan that avenue to do more with Canada in terms of critical minerals,” said Sidhu, who led a Canadian delegation on a visit to Japan. Japanese and Canadian companies signed more than C$1 billion,… .. read more..
Brent Erases Iran War Premium as Hormuz Flows Show Signs of Recovery
Friday, June 26,2026,16:19
Oil prices tumbled as markets bet Strait of Hormuz disruptions will ease, with Brent down 10% on the week and Middle East crude benchmarks slipping into contango. Friday, June 26, 2026 Whilst ship transits through the Strait of Hormuz remain a fraction of their previous norm (130-140 transits per day), plunging crude oil prices suggest the commodity markets anticipate that flows would start to recover sooner than later. The two Middle Eastern crude benchmarks, Dubai and Murban, have flipped into contango, as a temporary period of oversupply is… .. read more..
Russia’s Fuel Crisis Is Pushing the Kremlin Toward Kazakhstan
Friday, June 26,2026,16:00
Grappling with a severe shortage, Russia is seeking to purchase a significant volume of gasoline from neighboring Kazakhstan. Astana appears hesitant to fulfill the request, however, apparently concerned that doing so might entail consequences for the Central Asian nation’s own energy exports. The Reuters news agency first reported that Russian officials had approached Kazakh authorities seeking to obtain 50,000 tons of gas. Ukrainian drone attacks in recent months have devastated Russian refineries, creating a severe shortage and long lines… .. read more..
China Isn’t Giving Up On Coal Despite Green Energy Goals
Friday, June 26,2026,15:30
Chinese authorities are not restricting coal power growth in the new five-year energy plan as Beijing doubles down on the fossil fuel as a “bottom-line guarantee” of the electricity system amid rising shares of renewable power. China has unveiled its five-year plan for the energy sector, expecting renewable energy to boost its share of electricity supply by 2031, but also noting that it would aim to strengthen the role of coal a “bottom-line guarantee”. China targets clean energy to account for 30% of its power generation… .. read more..
Baghdad Hosting EU Energy Talks After Iraq Floats OPEC Exit
Friday, June 26,2026,14:30
European officials are expected to visit Baghdad in the coming weeks for high-level talks on energy cooperation, just hours after Iraq warned it could leave OPEC unless the producer group grants the country a higher production quota. According to Iraqi sources cited by Shafaq News, the discussions will focus on expanding cooperation across Iraq's oil, gas and electricity sectors. Planned talks include projects to capture associated gas, increase power generation, expand energy storage capacity and strengthen crude export infrastructure. One proposal… .. read more..
What Happened to Big Oil's Green Pivot?
Friday, June 26,2026,14:00
Over the past 20 years, the story seemed straightforward. Big Oil would gradually become Big Energy. Over time, oil majors would use their balance sheets, engineering expertise, and global project-management skills to build wind farms, solar projects, hydrogen hubs, carbon capture networks, and renewable power businesses. Big Oil did make major investments in renewables. And that transition is still happening in parts of the energy sector. But among the oil majors, the strategy has become far more selective. The latest example is Equinor. The Norwegian… .. read more..
Saudi Arabia Set to Slash Oil Prices as Hormuz Reopens
Friday, June 26,2026,13:00
Saudi Arabia is expected to slash the official selling prices of its crude loading for Asia in August, as Middle East’s crude benchmarks crashed amid the tentative reopening of the Strait of Hormuz and the oil supply increase from the region. Saudi oil giant Aramco, the world’s single-biggest crude oil exporter, is expected to slash the OSP of its flagship Arab Light crude by between $6.50 and $8.00 per barrel, a Reuters survey of industry sources showed on Friday. Refiners polled by Reuters expect the prices of all other Saudi grades,… .. read more..
Kazakhstan Cuts Gas Output after Drone Strike on Russian Processing Plant
Friday, June 26,2026,12:00
Kazakhstan has slashed by a quarter natural gas production at the huge Karachaganak oil and gas field after Ukraine earlier this week hit with drones a Russian plant processing part of the gas, Kazakhstan’s Energy Minister Yerlan Akkenzhenov said on Friday. “Naturally, we have reduced the gas intake,” Reuters quoted the minister as telling reporters today. Gas supply to Kazakhstan hasn’t been disrupted, Akkenzhenov added. Oil production at Karachaganak, which is operated by international supermajors,… .. read more..
Germany calls for 'urgent revision' of EU methane rules
Friday, June 26,2026,11:36
European Union methane regulations due to come into force in January 2027 .. read more..
Crude Prices Sink as Traders Bet on More Iranian Oil
Friday, June 26,2026,11:30
August WTI crude oil futures kept falling sharply during the week ending June 26. Traders continued to take out the extra price they had added earlier because they worried about possible supply problems in the Middle East. The contract moved between a high of $78.14 and a low of $68.90 before finishing at $71.53. That was down $3.99, or 5.28 percent, from the week before. The selling went on for most of the week. Traders stopped focusing as much on the chance of oil supplies getting cut off in the Persian Gulf. Instead, they paid more attention… .. read more..
Middlemen offer Iranian oil to Indian refiners after US waiver, traders say
Friday, June 26,2026,11:19
Middlemen and Iran's state oil company are offering discounted Iranian crude to Indian refiners after the US granted a 60-day sanctions waiver. However, refiners have limited room for fresh purchases due to existing supply commitments, while payment and banking uncertainties continue to delay commercial negotiations despite renewed interest. .. read more..
Power Grid of India board okays raising borrowing limit to Rs 2.2 lakh crore
Friday, June 26,2026,11:07
Power Grid Corporation's board has greenlit a significant increase in its borrowing limit to Rs 2.2 lakh crore, pending shareholder approval. Additionally, the company plans to secure $500 million in foreign currency funds via External Commercial Borrowings. An investment of Rs 772.65 crore has also been approved for upgrading a key transmission line, expected to be completed within 30 months. .. read more..
China’s Crude Imports Set to Hit Weakest Level Since 2016
Friday, June 26,2026,11:00
Chinese crude oil imports this month are on course to book an even weaker month than May, according to Kpler data, which sees the daily average at just 6.4 million barrels, as cited by Bloomberg. Data from Vortexa suggests a similar daily import level, the publication added. This would be the weakest import rate since October 2016, Bloomberg noted, and an 8% decline on May volumes. Those averaged 7.82 million barrels, according to customs data, down by 29% on the year and 17% on April. The May average was also a 38% drop on February volumes, before… .. read more..
Hormuz Shipping Confidence Is Still Shaky
Friday, June 26,2026,10:30
Traffic through the Strait of Hormuz has picked up over the past week but shipowners remain cautious about transiting, especially after the Thursday attack in the Gulf of Oman on a vessel that had just cleared the chokepoint. On Friday morning local time, two tankers carrying crude were moving out of the Strait while four empty supertankers were traveling inbound near the Omani coast, according to vessel-tracking data monitored by Bloomberg. While some traffic has been observed on Friday, the Thursday attack on the container ship Ever Lovely prompted… .. read more..
TotalEnergies and Petronas drill frontier deepwater exploration well
Friday, June 26,2026,10:14
Mailu prospect is under way in Papua New Guinea .. read more..
Indian refiners unlikely to rush for Iranian oil despite temporary US sanctio...
Friday, June 26,2026,10:10
Indian refiners are unlikely to sharply raise purchases of Iranian crude despite a 60-day US sanctions waiver, as uncertainty over its duration, payment hurdles and existing supply commitments limit fresh buying, market analyst Sumit Ritolia said. Refiners have already secured most crude requirements for the coming months through advance procurement plans. .. read more..
TotalEnergies and Petronas spud frontier deepwater exploration well
Friday, June 26,2026,10:05
Mailu prospect is under way in Papua New Guinea .. read more..
Oil prices—past, present, and futures
Friday, June 26,2026,10:00
Daily update Crude oil futures reached pre-war levels, anticipating future oil flows through the Strait of Hormuz. Current oil flows are only a fraction of pre-war levels, and oil refineries refine actual oil, not hypothetical future oil. Consumer (refined) gasoline prices in the US remain around a third higher than pre-war prices (in the UK, ... .. read more..
Global base oils in for long recovery despite Hormuz reopening
Friday, June 26,2026,10:00
Global base oils markets are facing a long recovery period as supply constraints and geopolitical tensions continue to reshape the industry, ICIS head of refining and base oils analytics Michael Connolly said on Thursday. The situation is particularly acute for Group III base oils, where recovery timelines are significantly longer due to structural disruptions, including ... .. read more..
Qatar Offers First Crude Loadings to Buyers Since War Began
Friday, June 26,2026,10:00
Qatar is tendering crude for loading outside the Strait of Hormuz in July and August, in what is likely the first Qatari crude offering to buyers since the Iran war began on February 28, trade sources told Reuters on Friday. Qatar’s state firm QatarEnergy has issued a tender, which closes on June 29, offering buyers to load or lift Marine Qatar, Marine Land, and al-Shaheen crude grades via ship-to-ship (STS) transfers between the offshore waters of Fujairah in the United Arab Emirates and Sohar in Oman, per a tender document Reuters has seen.… .. read more..
Equinor quits another offshore wind market after abandoning renewables target
Friday, June 26,2026,09:06
Norwegian oil giant recently scrapped its target for wind and solar deployment and raised its bar for investing in new renewables projects .. read more..
Qatar's LNG Recovery Picks Up Speed as Tankers Mass at Ras Laffan
Friday, June 26,2026,09:04
As many as eight empty LNG carriers have arrived at the Ras Laffan hub in Qatar and are set to load on superchilled gas in the coming days, Bloomberg has reported. Another LNG carrier is approaching Qatar’s vast gas production complex and two more are on their way to the Strait of Hormuz, the publication also wrote, citing ship-tracking data. The information is the latest piece of evidence that Qatar is eager to resume exporting liquefied gas, as stated earlier this week by the country’s prime minister. “Within a few weeks, production… .. read more..
Chinese company wins Middle East drill string supply contract
Friday, June 26,2026,08:28
Hilong subsidiary will supply drill strings for 19 onshore and offshore rigs .. read more..
Angola's give and take could be key to unlocking neglected discoveries
Friday, June 26,2026,08:14
Slew of legacy deepwater oil finds remain untouched .. read more..
Norway contractor rides wave of Vaar awards with SURF deal
Friday, June 26,2026,07:43
Ocean Installer to provide SURF workscope on next Balder phase .. read more..
Aker Solutions extends long tenure with Canadian operator
Friday, June 26,2026,07:27
Norwegian contractor has been supporting Cenovus for many years .. read more..
Sub-Eagle Ford resource nearly tapped out, USGS warns
Friday, June 26,2026,06:46
US Geological Survey says Bud Limestone nearly dry, a sign that new exploration needed elsewhere .. read more..
U.S.-Iran peace deal grants access to Tehran's nuclear sites, UN watchdog says
Friday, June 26,2026,06:41
"The technical work has started, and we hope to be there soon," IAEA chief Rafael Grossi said at a news conference in Japan on Friday. .. read more..
OneSubsea and Vallourec win orders for 252 million-barrel Angola project
Friday, June 26,2026,06:25
Contractors will provide umbilicals and rigid pipe for Azule Energy's PAJ development .. read more..
TechnipFMC wins Norway subsea deal
Friday, June 26,2026,06:18
TechnipFMC wins contract for Vaar Energy’s Ofelia and Gjoa Nord discoveries .. read more..
Oil slides 2% as markets look past fresh Iran tensions and focus on supply ou...
Friday, June 26,2026,05:01
Oil extended declines on Friday, with markets focused any further breakthroughs in the Middle East conflict, while digesting a flurry of news from the region. .. read more..
Oil Heads for Weekly Loss as Hormuz Tanker Traffic Rebounds
Friday, June 26,2026,05:00
Crude oil prices were on course for a sharp weekly loss amid multiple reports about a strong rebound in tanker traffic in the Strait of Hormuz. At the time of writing, Brent crude was trading at $73.78 per barrel, and West Texas Intermediate was changing hands for $70.53, even after the news of an Iranian strike on a commercial vessel in Hormuz that, Tehran suggested, had used a route not approved by the Iranian authorities. The strike promoted a 2% reversal in oil price movement, but it was not enough to quash optimism about tanker traffic overall.… .. read more..
Oil slides nearly 2% as markets look past fresh Iran tensions and focus on su...
Friday, June 26,2026,04:07
Oil extended declines on Friday, with markets focused any further breakthroughs in the Middle East conflict, while digesting a flurry of news from the region. .. read more..
Australian joint venture lifts resources estimate ahead of offshore drilling
Friday, June 26,2026,01:38
Latest seismic reprocessing delivers 92% boost to Bedout basin JV’s prospects offshore Australia .. read more..
Adnoc seeks bids for surprise new LNG facility bypassing Strait of Hormuz
Friday, June 26,2026,01:16
Adnoc envisages constructing a new 4 million tonnes per annum liquefaction facility at Fujairah and has initiated a design competition to select preferred contractors .. read more..
PTTEP advancing FLNG project to start-up in 2027
Friday, June 26,2026,01:15
Petronas' PFLNG Dua vessel to exploit Permai, Bemban and Alum fields offshore Sabah .. read more..
Full steam ahead for Samsung E&A in gas and new energy projects
Friday, June 26,2026,01:12
South Korean engineering company looking to further diversify its portfolio to gain market advantage .. read more..
Cheaper crude and Strait of Hormuz reopening boost outlook for Indian refiners
Friday, June 26,2026,00:30
Benchmark Brent fell to around $72 a barrel Thursday, down from an average of $99 in first week of June and $109 during the three months till May. Russia has resumed offering discounts, reversing the hefty premiums it charged after the Iran war began. .. read more..