Industry News

The Chevron-led Aphrodite consortium and the Egyptian government have agreed on a special tax regime for a project that would enable the piped export of 100 percent of production from the field offshore Cyprus to the North African country.

The Saudi Arabian state-backed oil company is nearing agreement with international banks on a $10 billion loan that would bolster its finances as conflicts in the Middle East threaten crude exports.

Oil retreated from a six-month high as senior officials from several countries flew to Tehran.

Venezuela's overall oil output recently reached 1.252 million barrels a day, oil minister Hector Obregon said.

Kawasaki Heavy Industries and Transgaz signed a memorandum of understanding on energy cooperation that would see the Japanese company bring its hydrogen transmission technology into Europe.

North America added three rigs week on week, according to Baker Hughes' latest North America rotary rig count.

BP reached an agreement with the state of Louisiana that will close lengthy litigation over the deadly Deepwater Horizon catastrophe in the Gulf of America in 2010, in exchange for an early but reduced payment of remaining claims.

Indian refiners are increasingly turning to Persian Gulf crude and pulling back from their mainstay supplier Russia.

Singapore's government has conditionally authorized state-backed Sembcorp Utilities to import 1.3 gigawatts of renewable electricity, advancing a tripartite energy pact with Malaysia and Vietnam.

The U.S. Energy Information Administration further raised its U.S. crude oil production forecast for 2026 in its latest short term energy outlook.

'The proposed arrangement marks a new milestone in energy cooperation between Singapore and the Kingdom of Saudi Arabia', a joint statement said.

Dalia Energies has sought arbitration in London over a 20-year natural gas supply agreement terminated by NewMed Energy and Ratio Energies, Chevron's local partners in the offshore Leviathan field.

Top security officials from Saudi Arabia, Pakistan and Turkey are set to meet Iran's leaders in an effort to defuse tensions and breathe new life into talks aimed at preventing a broader war in the Middle East.

Britain is expected to rely even more heavily on natural gas imports this winter.

Iberdrola's Brazilian subsidiary has secured another loan from the European Investment Bank to help modernize the electricity infrastructure in the states of Sao Paulo and Mato Grosso do Sul.

Germany said it will seek to stem the loss of oil refining capacity.

Oil prices climbed as escalating attacks on Saudi Arabia heightened fears of Middle East supply disruptions.

The physical prices of some Middle East crudes sold outside the Persian Gulf have dropped.

However, the European Commission assured there was 'currently no physical shortage of these products in Europe'.

SLB, formerly known as Schlumberger, is seen as a bellwether for oil and gas companies.