Oil companies will have to look further afield for new fossil fuel resources now that the Iran war has dented the investment allure of the energy-rich Middle East. Higher oil prices will give them that chance.Major international oil companies, including Exxon Mobil, Chevron, TotalEnergies, Shell and BP, have long been drawn to the Middle East by its vast resources, stable fiscal terms and, until recently…
Oil prices extended gains on Monday, with Brent headed for a record monthly rise, after Yemeni Houthis launched their first attacks on Israel over the weekend, widening the U.S.-Israel war with Iran in the Middle East.Brent crude futures LCOc1 jumped $3…
As Big Oil executives gathered this week and discussed the biggest-ever disruption to global energy supplies due to the war in Iran, there was one impact they did not address publicly: the multibillion-dollar windfall they will make because of soaring prices for the energy they sell…
The United Arab Emirates has told the U.S. and other Western allies it would participate in a multinational maritime taskforce to reopen the Strait of Hormuz, the Financial Times reported on Friday, citing people familiar with the matter.The…
Mubadala Energy has been awarded the Southwest Andaman exploration Production Sharing Contract in Indonesia, expanding its position in the Andaman Sea.The Abu Dhabi-based company will hold a 100% participating interest and operate the block…
Thermoplastic composite pipe (TCP) manufacturer Strohm has secured a contract to supply insulated production jumpers for an offshore field extension project in Malaysia.The scope includes two carbon fibre PA12 thermoplastic composite pipe production jumpers with a 7-inch internal diameter…
War in the Middle East has triggered severe global supply disruptions in oil and gas, with reported damage and shutdowns affecting liquefied natural gas (LNG) trains, refineries, fuel terminals and critical gas-to-liquids facilities across the region…
Saudi Arabian oil and gas drilling contractor ADES International Holding has reported it expects 44% rise in its core earnings in 2026, despite having several of its offshore rigs in the Gulf region temporarily suspended due to ongoing regional tensions…
Oil prices sank about 4% on Wednesday after reports the United States had sent Iran a 15-point proposal aimed at ending the war in the Middle East, raising prospects of a ceasefire that could ease supply disruptions in the region.Brent crude futures LCOc1 fell $4…
Oil prices rose on Tuesday on supply fear, as Iran denied it had talks with the United States to end the war in the Gulf, contradicting U.S. President Donald Trump who said a deal could be reached soon.Brent futures LCOc1 rose $2.89, or 2.9%…
The gas subsidiary of ADNOC, Abu Dhabi's state oil firm, on Monday said it made temporary adjustments to its production of liquefied natural gas and export-traded liquids in response to ongoing shipping disruption in the Strait of Hormuz.The U…
U.S. President Donald Trump went into the Iran war convinced that America’s vast oil wealth would insulate the country from the kind of energy shock now battering much of the world. Four weeks into the conflict, that shield is looking fragile…
The U.S. military is deploying a large amphibious assault ship with thousands of additional Marines and sailors to the Middle East, three U.S. officials told Reuters on Friday, as Iran's new supreme leader hailed Iran's 'unity' and 'resistance'…
Petronas has confirmed a hydrocarbon discovery at the Barokah-1 exploration well in the North Ketapang Production Sharing Contract (PSC) offshore East Java, Indonesia.The discovery was made by Petronas through its subsidiary Petronas North Ketapang…
Everllence has secured a contract to supply compressor technology for Thailand’s first carbon capture and storage (CCS) project at the Arthit gas field in the Gulf of Thailand.The company will deliver two RB compressor skids that will support…
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