Oil and Gas
IEA Warns of Crude Oil Supply Collapse Due to Strait of Hormuz Closure
The closure of the Strait of Hormuz reduces crude oil flow to 3.8 million barrels per day and causes a historic deficit in energy…
Oil and gas remain fundamental pillars of the global energy system. This category features news covering exploration activities, production developments, strategic investments, and major projects related to the hydrocarbon industry across different regions of the world.
Coverage includes new resource discoveries, expansion of production operations, partnerships between energy companies, and technological advancements supporting exploration and hydrocarbon development. News also highlights market dynamics, corporate strategies, infrastructure projects, and industry initiatives influencing the global supply of oil and natural gas.
Stories in this category reflect how the sector continues to evolve in response to energy demand, technological innovation, and the broader energy transition, while maintaining a central role in the global energy landscape.
Latest Oil and Gas News
Oil and Gas
PETRONAS guarantees fuel supply in Malaysia until June 2026
PETRONAS confirms fuel availability in Malaysia until June 2026 despite global energy volatility.
Oil and Gas
Greece Signs Contract with ExxonMobil and Energean for Gas Drilling in the Ionian Sea
The intention is clear: to transform Greece into a logistics and production hub that contributes to the diversification of energy sources across the continent.
Oil and Gas
China Huaneng Group commences operation of the Huaneng Shandong Peninsula North L Site project
With this advancement, the Shandong subsidiary and the Yantai power plant demonstrate undisputed technical authority in integrating large-scale units in abyssal zones.
Oil and Gas
China Relies on Iranian Oil Reserves Amid Strait of Hormuz Blockade
China uses ship-borne Iranian crude reserves to mitigate the impact of the Strait of Hormuz blockade.
Oil and Gas
BP boosts its profits with oil trading in a volatile market
BP anticipates strong results driven by oil trading and energy market volatility
Oil and Gas
Chevron strengthens its presence in Venezuelan heavy oil after agreement with PDVSA
Excerpt Chevron expands its participation in Venezuelan heavy oil following an asset exchange with PDVSA focused on the Orinoco Belt.
Oil and Gas
Honeywell boosts production at Rio Grande LNG with C3M technology
The C3MR process is established as the most widely used solution globally due to its proven reliability.
Oil and Gas
Phillips 66 Advances Construction of Iron Mesa Plant in the Permian Basin
The plant will provide increased flexibility to distribute natural gas liquids to logistics hubs such as Sweeny.
Oil and Gas
Venture Global closes $1.75 billion credit facility to strengthen its LNG project
Venture Global refinances its Calcasieu Pass project with a $1.75 billion senior credit facility.
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