EU Secures Industry Deal to Grow Energy Storage Capacity
<p>The European Commission has executed a public-private cooperation agreement on energy storage that saw 22 member states commit to enabling the installation o...
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Oil Prices Climb as U.S.-Iran Flare-Up Shakes Market Complacency
Oil prices were climbing early on Monday morning after a fresh escalation between the U.S. and Iran over the weekend. The price rise was relatively delayed, as markets continue to price in a potential peace deal while discounting more bullish geopolitical catalysts. A growing num
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U.S. Pipeline Giant Eyes $5.5 Billion Deal to Expand LNG Reach
U.S. natural gas pipeline giant Williams could be close to one of its biggest acquisitions ever as it is in late-stage talks to acquire gas pipeline operator Momentum Midstream in a deal estimated to be worth about $5.5 billion, sources with knowledge of the development have told
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Oil trade stabilises amid US-Iran halt to renewed hostilities
Oil prices stabilised on 29 June, Monday after the US and Iran reached an agreement to halt their renewed hostilities in the Gulf and committed to resuming negotiations over the Strait of Hormuz.
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OEUK Says Urgent Decisions Needed on Rosebank, Jackdaw
<p>In a statement sent to Rigzone recently, industry body Offshore Energies UK (OEUK) said “urgent decisions” are needed on the Rosebank and Jackdaw projects “f...
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Zephyr Energy acquires 27,000 acres in Utah’s Paradox Basin
Zephyr Energy has expanded its operated land position in the Paradox Basin, Utah, US, with the acquisition of approximately 27,000 acres of additional leases.
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More Well Workers offshore Norway Will Join Strike
<p>The Norwegian Union of Energy Workers (SAFE) said it had sent a notice that an additional 63 members would join hundreds already on strike after government m...
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Middle East Oil Production Rebounds to 15 Million Bpd
Crude oil production in the Middle East rebounded to between 14.6 million bpd and 15 million bpd earlier this month amid the ceasefire between Iran and the United States, the Financial Express reported today, citing a prediction that full recovery to pre-war levels would come by
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Hormuz Traffic Ebbs as Attacks Stoke Fresh Concerns
<p>Commercial traffic through the Strait of Hormuz persisted at a reduced level after attacks on two ships raised fresh concerns about the ability and willingne...
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China’s LNG Buying Rebounds as Summer Power Demand Surges
China’s imports of liquefied natural gas this month are likely to be unchanged on last year’s, Kpler has forecast, seeing arrivals of a total of 5.29 million tons, as cited by Bloomberg. The June total, however, would be an increase on May LNG imports, which stood at 4.9 million
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Williams set to acquire Momentum Midstream for $5.5bn
Williams, a US-based natural gas company, is reportedly close to acquire Momentum Midstream in a transaction valued at approximately $5.5bn.
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Australian Gas Exploration Surges as Energy Security Takes Center Stage
Investment in natural gas exploration in Australia hit the highest in ten years amid the energy crunch caused by the war in the Middle East, totaling the equivalent of $329 million in the first quarter of the year, government data showed, as quoted by Reuters. The publication cit
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The $7 Trillion AI Boom Is Turning Into The Energy Trade of the Century
You might think that Shark Tank’s “Mr. Wonderful,” Kevin O’Leary, is betting it all on AI, but he is not. He is betting on the $5+ trillion in infrastructure required to run it, and that’s where big capital is flowing now. And he’s betting on Bitzero (NASDAQ: AIBZ) to be one of t
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Oil Markets Are Pricing A Supply Surge That Isn’t Guaranteed
Crude oil prices are in freefall after the United States and Iran agreed on a ceasefire, set to last 60 days. Traders expect the ceasefire to unleash an avalanche of crude, and indeed, tankers are leaving the Persian Gulf in growing numbers. And yet Iran just struck a commercial
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The World's Biggest Energy Bet Is No Longer on Fossil Fuels
For years, critics of the energy transition have made essentially the same argument. Renewable energy was supposedly too expensive, too dependent on subsidies, too intermittent, and too vulnerable to survive a serious energy security crisis. Sooner or later, they argued, governme
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The World Is Racing to Develop New Nuclear Fuels
In the age of the nuclear renaissance, several countries are strategising to significantly increase their nuclear energy capacity over the coming decades, as part of efforts to diversify their energy mix and boost long-term energy security. However, securing fuel to power operati
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China Eyes a Major Opportunity in Post-War Iran
Beijing is positioning itself to lead the post-war reconstruction effort in Tehran - a move analysts suggest could secure China long-term access to critical Iranian oil reserves. The diplomatic groundwork was laid during a recent meeting in New Delhi between Chinese Foreign Minis
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Egypt Targets 60% Renewable Electricity by 2040
Egypt has steadily been increasing its renewable energy capacity and has even bigger plans for the coming decade. While Egypt continues to rely heavily on fossil fuels, that could soon change thanks to high levels of private investment in green energy, supported by favourable nat
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Europe Averts Jet Fuel Chaos
<p>A combination of surging local production and increased imports from non-Middle East suppliers have helped Europe to avoid a jet fuel crisis that some had fe...
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One of Texas' Oldest Oil Plays Is Running Dry
The Eagle Ford shale play has shown remarkably consistent crude oil production and rising natural gas output in recent years. A formation beneath the Eagle Ford has been producing for nearly a century, but now it has its remaining resources nearly exhausted. The Buda Limestone fo
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China Is Quietly Winning the Clean Energy Trade War
China’s clean energy dominance is growing. Buoyed by the skyrocketing energy needs and future projected demands of the artificial intelligence boom, clean energy projects are getting greenlit at a breakneck pace. And those projects depend on cheap Chinese clean energy components,
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NASA Eyes Moon Base Powered by Solar Panels and Nuclear Reactors
With major plans for space travel, several governments are proposing lunar energy production, including solar and nuclear projects. In May, NASA announced plans to send robotic landers, hopping drones, and vehicles to the moon as part of the United States government’s plans to de
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The AI Power Crisis Is Creating a Massive New Market for Fuel Cells
Data center developers are scrambling for reliable power, turning away from congested grids and toward on-site fuel cells. Rystad Energy research and analysis projects a tenfold increase in fuel cell market revenues by 2030, rising from around $2.8 billion in 2025 to roughly $30
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Panama Canal Sees Revenue Beating Forecast
<p>The Panama Canal expects revenue to exceed its $5.2 billion forecast for fiscal 2026 after the closure of the Strait of Hormuz drove more ships through the w...
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UK Grid Issues Another Supply Warning
<p>The UK grid operator issued a second power supply warning for Friday evening as soaring temperatures across Europe put the region’s networks to the test. </p...
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Crude Falls On Rising Gulf Supplies
<p>US oil plunged, erasing nearly all its gains made during the war, as vessel traffic through the Strait of Hormuz continued to rise and as investors increasin...
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EIA Sees USA Energy Demand Dropping in 2026, Rising in 2027
<p>In its latest short term energy outlook (STEO), which was released earlier this month, the U.S. Energy Information Administration (EIA) projected that U.S. t...
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Traffic Flows Through Hormuz Despite Ship Attack
<p>An <a href="https://www.bloomberg.com/news/articles/2026-06-25/ships-appear-to-u-turn-while-trying-to-exit-hormuz-by-oman-route" target="_blank">attack</a> o...
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Aker Solutions secures five-year engineering deal for White Rose field
Aker Solutions has entered into a five-year agreement with Cenovus Energy to provide engineering and maintenance services for assets at the White Rose oil field in Canada.
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USA Oil, Gas Workforce Rises from April to May
<p>The number of employees in the oil and gas extraction industry increased slightly from April to May, data on the U.S. Bureau of Labor Statistics (BLS) websit...
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DOE Plans $17.5B Loans for Westinghouse-Backed Nuclear Projects
<p>The United States Department of Energy (DOE) has announced a conditional loan commitment of $17.5 billion to help 5 nuclear power projects procure long-lead ...
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Var Energi Greenlights Gjoa Projects
<p>Vår Energi ASA and its partners have made a final investment decision to proceed with the Gjøa Subsea Projects on Norway's side of the North Sea, targeting a...
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Why Is Oil Trading Down Today?
<p>Oil prices are trading down today “as the market removes part of the Middle East supply-risk premium”, Waleed Said, Technical analyst at GivTrade, outlined i...
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Equinor submits Wisting oilfield EIA for public review
Equinor and its partners have submitted a proposed environmental impact assessment (EIA) programme for the potential development of the Wisting oil field, which is now open for public consultation.
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Baker Hughes wins contract from Azule Energy for Greater PAJ project
Baker Hughes has been selected by Azule Energy to provide subsea production systems for the Greater PAJ project, an offshore oil development in Angola’s Blocks 31 and 31/21.
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Naftogaz, Orlen Ink New LNG, Decarbonization Agreements
<p>ORLEN SA and Naftogaz Group have executed two new memorandums of understanding (MoUs) on sourcing liquefied natural gas (LNG) for Ukraine and pursuing energy...
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Strike Averted as Norway Onshore Support Workers Agree New Terms
<p>The Offshore Norge oil and gas association and the union Styrke on Thursday agreed pay increases and other changes in the Supply Base Agreement, averting a p...
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Output at Key Field in Kazakhstan Takes Hit from Attack on Russian Plant
<p style="background-color: #f5f5f5; font-weight: bold; font-size: 0.8em; padding: 3px 5px; margin-bottom: 5px;">(Update) June 26, 2026, 11:55 AM GMT: Article u...
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ONGC signs technical services deal with bp for Western Offshore Basin
Oil and Natural Gas Corporation Limited (ONGC), an Indian central public sector undertaking, has awarded a technical services contract to BP to help boost production from its fields in the Western Offshore Basin.
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Oil Rebounds After Hormuz Ship Attack
<p>Oil rose as traders closely monitored shipments through the Strait of Hormuz after a vessel was struck by a projectile in the key shipping corridor off the O...
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Conservatives Demand Repeal of Biofuel Blending Quotas
<p>Nearly three dozen conservatives - including longtime allies of President Donald Trump - are pushing the House to overturn biofuel-blending quotas imposed by...
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Vitol Seals 20-Year, 1MMtpa Deal to Supply LNG to IRH
<p>Vitol Inc and International Resources Holding (IRH) have finalized a 20-year agreement for Vitol to supply 1 million metric tons per annum (MMtpa) of liquefi...
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Vår Energi submits PDO for Gjøa Subsea Projects in North Sea
Vår Energi and its partners have submitted the PDO for the Ofelia and Gjøa Nord projects in the North Sea to Norway’s Ministry of Energy.
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Wellesley Confirms New Discovery in Norwegian North Sea
<p>Wellesley Petroleum AS and its partners have completed an appraisal well for the Carmen natural gas and condensate discovery on Norway's side of the North Se...
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Poland to Build a Third LNG Import Terminal
<p>Gaz System SA said it has secured more than enough customer commitments to proceed with Poland's third terminal project for the importation of liquefied natu...
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BP, TotalEnergies Join Bab Gas Cap Project in Abu Dhabi
<p>BP PLC and TotalEnergies SE have each acquired a 10 percent stake in the Bab Gas Cap project onshore Abu Dhabi.</p> <p>Expected to produce up to 1.5 billi...
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MODEC to supply SOFEC mooring system for Coral Norte FLNG
MODEC said it will supply a SOFEC internal turret mooring system for the Coral Norte floating liquefied natural gas (FLNG) project, which is being developed offshore Mozambique.
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Jadestone starts production from first 2026 Malaysia infill well
Jadestone Energy has commenced production from the first well in its 2026 infill drilling campaign on the PM323 production sharing contract (PSC) offshore Peninsular Malaysia.
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Dangote's Planned IPO Sparks Investor Frenzy in Nigeria
<p>Nigerian tycoon Femi Otedola is preparing to invest $100 million. Hundreds of miles away, Wuroyda Danke, a 28-year-old security guard, plans to spend $150 bo...
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Qatar Adds Momentum to Mideast Oil Trade Rebound
<p style="background-color: #f5f5f5; font-weight: bold; font-size: 0.8em; padding: 3px 5px; margin-bottom: 5px;">(Update) June 26, 2026, 7:52 AM GMT: Article up...
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Oil Falls to Postwar Lows
<p>Oil's wartime price gains have evaporated as the US and Iran log progress in peace talks and more tankers openly transit the Strait of Hormuz, easing fears o...
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Iran, Oman to Coordinate Hormuz Transits
<p>Shippers can transit the Strait of Hormuz via Iranian or Omani and US-coordinated waters, according to the International Maritime Organization, part of a bro...
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Tesla, NatPower Partner to Enable Over 25GWh of BESS in Europe
<p>NatPower SA and Tesla Inc have signed "a multi-year supply and execution agreement" to add more than 25 gigawatt hours (GWh) of battery energy storage system...
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Saipem Divests Saudi Shallow Water Rigs
<p>Saipem SpA said Wednesday it had signed an agreement to sell a subsidiary in Saudi Arabia operating shallow-water drillers to ADES Holding Co for $285 millio...
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Woodside Wins Contract to Supply Gas to Alcoa
<p>Woodside Energy Group Ltd has executed an agreement with Alcoa Corp to supply the alumina maker with 31.1 petajoules of Western Australian natural gas from 2...
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Norway Well Workers Continue Strike as Standoff Escalates
<p>The Norwegian Union of Energy Workers (SAFE) said Tuesday hundreds of well service members are pressing on with a strike that has now entered a second week, ...
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US, Qatar Push Back against EU Methane Rules
<p>The US, Qatar and other natural gas exporters are urging the European Union to ease some of its pending methane emissions rules, warning that the regulations...
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Asian Demand for Mideast Oil Slows after Splurge
<p>Asian refiners have slowed purchases of Middle Eastern crude after a buying spree over the past three weeks, with oil majors and traders stepping in to take ...
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Crude Extends Losses
<p>Oil dipped as tankers become more overt in transiting the Strait of Hormuz, a sign that a much-anticipated rush of barrels is en route to quell one of the mo...
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Qatar Says Ras Laffan Blast Will Not Affect LNG Exports
<p>Qatar said it doesn't expect liquefied natural gas exports to be impacted by an explosion at the Ras Laffan industrial complex which left 13 dead and 66 inju...
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Pikka Oil Project in Alaska Reaches Continuous Production
<p>Santos Ltd said Tuesday it has reached continuous production at the Pikka oil development on Alaska's North Slope, which started up earlier this year.</p> ...
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BP, Eni Greenlight Cross-Block Project offshore Angola
<p>Azule Energy, the 50:50 joint venture of BP PLC and Eni SpA focusing on Angola, has decided to proceed with an oil development spanning 5 fields across Block...
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Chevron Wins 20-Year Contract to Power Microsoft Data Center
<p>A project by Chevron Corp and Engine No. 1 has secured an agreement to supply natural gas-based electricity to a Microsoft data center project in West Texas ...
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Analysts Project Oil, Gas Market Evolution to 2050
<p>The evolution of oil and gas markets through to 2050 will be marked by plateauing demand, rapid technological change, shifting investment priorities, and the...
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Perenco, Partners Ink Gas Sales Agreement for Vietnam Project
<p>Perenco and its co-venturers in Block 15-1 offshore Vietnam have secured an agreement to supply natural gas from the Su Tu Trang (White Lion) Phase 2B projec...
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Uzbekistan Woos More Western Gas Investors
<p>Uzbekistan is stepping up efforts to bring major European and US energy companies into its natural gas sector, after last month securing investment from BP P...
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Iran Quickly Pursues Top Oil Importers after US Waiver
<p>Iran is racing to court some of Asia's largest oil buyers as a 60-day US sanctions waiver takes effect, a temporary lifeline that should allow Tehran to resu...
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Oil Drops as Iran Talks Advance
<p>Oil declined on signs of progress in US-Iran peace talks, including a waiver allowing some Iranian oil sales, bolstering hopes for a continued recovery in fl...
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Iran Gets Oil Trading Respite from US
<p style="background-color: #f5f5f5; font-weight: bold; font-size: 0.8em; padding: 3px 5px; margin-bottom: 5px;">(Update) June 22, 2026, 7:10 PM GMT: Article up...
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Libya Reaches 1.4 MMbpd of Oil Production
<p>Libya reached its highest daily production since 2013, recording 1.44 million barrels per day (MMbpd) on Sunday, the National Oil Corp (NOC) said.</p> <p>...
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JERA Contracts 4 Ammonia Carriers
<p>JERA Co Inc has signed time charter agreements under which fellow Japanese companies Mitsui OSK Lines Ltd (MOL) and NYK Group will each provide 2 fuel ammoni...
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Var Energi Realigns Stakes offshore Norway
<p>Vår Energi ASA has announced a series of acquisitions and divestments of production and exploration assets on the Norwegian continental shelf to refocus inve...
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Equinor, Partners Agree Plan for Major North Sea Project
<p>Equinor ASA and its partners have agreed on a development concept for Ringvei Vest, an oil and gas project spanning 8 licenses on Norway's side of the North ...
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Crimea Halts Fuel Sales after Attacks on Russian Refineries
<p>Authorities in Russia-occupied Crimea said they were suspending fuel sales at filling stations, limiting supplies to state services amid Ukrainian drone stri...
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Iran Says Stride Made with US after Talks Began
<p>Iran said there had been "major progress" in all-night discussions with the US, as the warring sides try to reach a peace deal within two months.</p> <p>T...
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Feed last updated 6/29/2026, 10:58:31 AM · Sources: OilPrice.com, EIA, Rigzone, CREA