ONGC Profit More Than Doubles as Oil Prices Surge
India’s Oil and Natural Gas Corporation more than doubled its quarterly profit as higher crude and natural gas prices—and a weaker rupee—more than made up for another drop in production.…
Shell invests in Surat Gas Project to firm up QCLNG supply
By 11 min ago 2 min read Multinational energy firm Shell is investing in the next phase of Arrow Energy’s Surat Gas Project in Australia – securing long-term feedstock supply…
Qatar, Bessent Signal Progress on Short Term USA-Iran Deal
The prospect of a deal between the US and Iran appeared to be gaining traction on Tuesday, after Qatar said a proposal had been drafted and American Treasury Secretary Scott…
Saudi Aramco’s Adjusted Profit Jumps 33% as Oil Prices Surge
Saudi Aramco saw its adjusted net income jump by 33% for the second quarter from a year earlier as high oil prices and the oil giant’s ability to re-route most…
Germany’s Energy Demand Falls as High Prices Hit Oil Consumption
Germany’s energy demand dropped by 1.9% over the first half of the year on surging oil and gas prices, according to preliminary data released by the Working Group on Energy…
Tanker Traffic Remains Subdued Despite Trump’s Talk of Peace
Tanker crossings in the Strait of Hormuz and Bab el-Mandeb remained subdued at the start of this week despite reports about potential renewal of peace talks based on statements made…
Venezuela’s Oil Exports Fall Even as U.S. Shipments Hit Seven-Year High
Venezuela exported 1.16 million barrels of crude oil daily last month, a slight decline from June’s 1.2 million barrels daily, on lower withdrawals from storage, Reuters has reported, noting that…
Pentagon Scraps $300 Million Lithium Tender for Defense Stockpile
The U.S. Department of Defense has canceled a tender to buy up to $300 million worth of lithium carbonate for the national strategic stockpile in another blow to the Administration…
India’s HPCL Snaps Up Nigerian Crude To Dodge The Hormuz Bottleneck
Indian state-owned refiner Hindustan Petroleum Corporation Limited (HPCL) has bought 2 million barrels of crude from Nigeria, trading sources told Reuters on Tuesday, as India looks to offset the loss…
Hormuz Tanker Traffic Stalls at Two-Month Low as Attacks Escalate
Traffic at the Strait of Hormuz remains at the lowest in more than two months as security concerns have intensified with recent attacks on ships and persistent threats to shipping…
