API Reports Sharp U.S. Crude Stock Draw as SPR Hits New Low
The American Petroleum Institute (API) estimated that crude oil inventories in the United States fell by 3.296 million barrels in the week ending July 24. In the week prior, US…
OPEC+ Prepares to Stop Raising Oil Output Targets
OPEC+ is preparing to approve one more production increase for September and then put the monthly quota parade on hold through the end of the year. Saudi Arabia, Russia, Iraq,…
UK Regulator Targets Data Center Land Grab on the Power Grid
Britain’s energy regulator, Ofgem, on Wednesday launched a consultation on a proposed commitment fee for data center projects as part of broad reforms to ensure network capacity is used for…
Iran Rejects Oman’s Proposal to Evenly Divide Hormuz Control
Iran has rejected a proposal from Oman to evenly share control of the lanes in the Strait of Hormuz, as Tehran demands it control most of the critical oil and…
Houthis Claim Attack on Saudi Oil Tanker in Red Sea
Yemen’s Houthis late on Tuesday claimed an attack on a Saudi oil tanker in the Red Sea, saying that the vessel had violated the blockade the Iran-aligned group announced last…
Eni Increases 2026 Buybacks as Production Growth Accelerates
Eni (E:NYSE) is raising its share buyback program for the year after reporting on Wednesday consensus-beating earnings for the second quarter on the back of higher oil and gas prices…
U.S.-Saudi Consortium Plans $5 Billion Gulf Refinery Outside Hormuz
A consortium of U.S. and Saudi companies is set to build a new refinery in the Persian Gulf despite the current situation in the region. The facility will have a…
ADNOC Defies Hormuz Risks as UAE LNG Exports Continue
The UAE is still exporting liquefied natural gas, despite the threat of strikes in the Strait of Hormuz. According to a Bloomberg report, an ADNOC LNG tanker appeared in the…
New Zealand Awards First Offshore Oil License Since Ending Drilling Ban
New Zealand’s government has awarded the first offshore oil and gas exploration license after last year lifting a ban on drilling, put in place by the previous government that wanted…
Luxfer agrees to acquisition by US investment firm Wynnchurch Capital
By 3 min ago 2 min read Materials engineering company Luxfer has entered into a definitive agreement to be acquired by affiliates of US investment firm Wynnchurch Capital in an…
