8/31/2026 8:28:10 PM (Volume: 43 / Issue: 9)
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Tag: OIl

Energy, Oil & Gas

Oil prices surge as Trump, Iran demands cloud Hormuz deal

Oil prices extended their rally on Tuesday after surging about 5% in the previous session, as fresh demands by US President Donald Trump and Iran's insistence on major concessions from Washington cast renewed doubt over efforts to reopen the strategically vital Strait of Hormuz....

Energy, Oil & Gas

Oil slips below $80 as hopes of Hormuz reopening ease supply concerns

Oil prices remained under pressure on Tuesday after suffering steep losses over the previous two sessions, as growing optimism over a potential breakthrough in US-Iran diplomacy raised hopes that the Strait of Hormuz could soon be reopened to normal shipping, easing fears of disruptions to global crude supplies....

Energy, Oil & Gas

Aramco posts $67.2bn first-half profit despite shipping disruptions

Saudi Aramco reported a strong financial performance for the first half of 2026, posting adjusted net income of $67.2 billion, as the world's largest oil producer maintained crude supplies despite unprecedented disruptions to shipping through the Strait of Hormuz....

Energy, Oil & Gas

Oil rebounds as Gulf shipping risks offset hopes of talks breakthrough

Oil prices recovered on Tuesday after suffering their steepest one-day decline in weeks, as persistent concerns over potential supply disruptions in the Middle East outweighed optimism that diplomatic efforts could quickly end the five-month-old conflict between the United States and Iran....

Energy, Oil & Gas

Opec+ approves September output increase of 188,000 bpd

Opec+ members have agreed to increase oil production by a combined 188,000 barrels per day in September 2026, as part of the gradual easing of voluntary output cuts introduced in April 2023 to support market stability. ...

Energy, Oil & Gas

TPAO acquires 15pc stake in bp’s Kirkuk redevelopment venture

bp and Türkiye Petrolleri Anonim Ortaklığı (TPAO) have agreed terms for TPAO to acquire a 15 per cent interest in BP Energy Company of Kirkuk (BP ECKL), strengthening cooperation on the redevelopment of major oil and gas fields in Iraq’s Kirkuk region....

Energy, Oil & Gas

KOC awards maintenance contract for North Kuwait Jurassic plant

Kuwait Oil Company (KOC) has signed up Chinese group Anton Oilfield Services DMCC to deliver comprehensive integrated maintenance and operational support services for its Jurassic Production Facilities (JPF) 1, 2 and 3 located in the country's northern region. ...

Energy, Oil & Gas

Oil at $100 on Red Sea attacks rattles markets, says expert

Oil topping $100 amid Red Sea attacks is rattling markets, affirms the CEO of a top independent financial advisory organisation. Brent crude touched $100.64 a barrel on Thursday, a jump of 7%, while US crude rose to $91.83, up 5.8% after Houthi rebels claimed to have struck two Saudi oil tankers in the Red Sea...

Energy, Oil & Gas

Escalating Mideast tensions raise O&G supply risks: IEA

The International Energy Agency (IEA) has warned that escalating conflict in the Middle East is increasing risks to global energy security, with threats to the Strait of Hormuz and Bab el-Mandeb Strait fuelling uncertainty over global oil and natural gas supplies....

Energy, Oil & Gas

Oil tops $90 a barrel as renewed Gulf uncertainty rattles market

Oil prices surged above $90 a barrel on Monday as the escalating military confrontation between the United States and Iran heightened concerns over supplies from the Gulf, with shipping through the Strait of Hormuz remaining severely disrupted following another night of attacks....

Energy, Oil & Gas

Iraq signs US energy partnerships to boost oil, power infrastructure

Iraq has signed energy agreements with US firms including ExxonMobil, KBR and GE Vernova to advance oil and power projects, while progressing a Mediterranean Energy Corridor pipeline initiative with a planned capacity of two million barrels per day. ...

Energy, Oil & Gas

Halliburton wins multi-year Aramco gas development contract

Halliburton has won a multi-year contract from Saudi oil giant Aramco to deliver integrated stimulation and completion services for unconventional gas development in the kingdom. It builds on the US energy company’s established portfolio backing Aramco’s unconventional programme. ...

Energy, Oil & Gas

Oil climbs as Hormuz tensions deepen; Iran threatens to halt Gulf energy exports

Oil prices extended gains on Wednesday as fears of a prolonged disruption to energy supplies through the Strait of Hormuz intensified following the United States' reimposition of a naval blockade on Iranian ports and fresh threats from Iran's Islamic Revolutionary Guard Corps (IRGC) to shut down regional oil and gas exports....

Energy, Oil & Gas

Oil tops $85 as Iran hits tankers, US blockade fuels battle for Hormuz

Oil prices surged on Tuesday, with Brent crude climbing above $85 a barrel for the first time in a month, as Iran's missile strike on two oil tankers and the United States' decision to reinstate a sweeping naval blockade of Iranian ports intensified a confrontation for control of the strategic Strait of Hormuz....

Energy, Oil & Gas

Oil prices surge as US-Iran strikes intensify, raising fears over Hormuz shipping

Oil prices jumped sharply at the start of Asian trading on Monday after the United States launched a second consecutive night of strikes on Iranian military targets and Tehran retaliated with fresh attacks, heightening fears of disruption to crude shipments through the Strait of Hormuz, the world's most important oil transit chokepoint....

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