Oil & Gas News (OGN)

Tag: oil

Energy, Oil & Gas

Oil rises as Trump urges nations to help reopen Hormuz

Mon, 16 Mar 2026

Oil prices rose on Monday as investors weighed renewed geopolitical risk despite US President Donald Trump urging other countries to join efforts to secure the Strait of Hormuz, while Iran said the strategic waterway remained open only to countries that are not directly involved in attacks against it....

Energy, Oil & Gas

US waives sanctions on Russian oil at sea as supply disruptions continue

Fri, 13 Mar 2026

The United States has temporarily eased sanctions on Russian oil by allowing countries to purchase cargoes already stranded at sea, as Washington seeks to contain a fresh surge in crude prices triggered by Middle East supply disruptions and fears over restricted energy flows through the Gulf. ...

Energy, Oil & Gas

TotalEnergies announces restart of production at Mabruk field in Libya

Thu, 12 Mar 2026

TotalEnergies has restarted production at Libya’s Mabruk oil field, holding a 37.5 per cent stake. The new 25,000 barrels/day facility, launched in May 2024, began operations on February 28, 2026, ending a halt since 2015. ...

Energy, Oil & Gas

Oil crosses $100 again after attacks on vessels

Thu, 12 Mar 2026

Oil prices jumped on Thursday as Iran ‌stepped up attacks on oil and transport facilities across the Middle East, raising fears of prolonged disruptions at the Strait of Hormuz....

Energy, Oil & Gas

Saudi Arabia, Iraq, UAE, Kuwait implement reductions in daily oil output

Wed, 11 Mar 2026

Saudi Arabia has curtailed its crude oil production by an estimated 2 million to 2.5 million barrels per day, while the UAE has reduced output by approximately 500,000 to 800,000 barrels daily, Bloomberg reported....

Energy, Oil & Gas

Saudi Red Sea oil exports to hit record high in March, shipping data shows

Wed, 11 Mar 2026

Saudi Arabia's oil shipments via the Red Sea are on course ‌to hit record highs in March although they are still far below the levels needed to compensate for the drop in flows from the Strait of Hormuz, shipping data showed....

Energy, Oil & Gas

Aramco warns of 'catastrophic' oil impact if Hormuz shipping doesn’t resume

Tue, 10 Mar 2026

Aramco warned the Strait of Hormuz disruption from the Iran war could have “catastrophic consequences” for global oil markets and trigger ripple effects across shipping, insurance, aviation, agriculture and automotive industries. ...

Energy, Oil & Gas

Aramco reports strong 2025 results with $104.7bn net income

Tue, 10 Mar 2026

Aramco reported strong 2025 results with adjusted net income of $104.7 billion, including $25.1 billion in Q4. Operating cash flow reached $136.2 billion for the year and $40.8 billion in Q4, with free cash flow of $85.4 billion....

Energy, Oil & Gas

Oil prices retreat after surge as hopes rise for ending Middle East war

Tue, 10 Mar 2026

Global oil prices fell sharply on Tuesday after surging to their highest levels in more than three years in the previous session, as signals of possible diplomatic progress in the Middle East eased fears of prolonged supply disruptions....

Energy, Oil & Gas

IMF Chief warns Mideast conflict could fuel global inflation as oil prices surge

Tue, 10 Mar 2026

IMF Managing Director Kristalina Georgieva warned the escalating US-Israel-Iran conflict risks pushing global inflation higher, after oil prices surged more than 30 per cent in Asian trading to their highest levels since 2022. ...

Energy, Oil & Gas

Aramco offers crude in rare tenders as Iran conflict disrupts exports

Mon, 09 Mar 2026

Aramco offered over 2 million barrels of Saudi crude, including 2 million Arab Heavy and 650,000 Arab Light, in rare tenders as US-Iran tensions disrupted Middle East exports, trade sources reported. ...

Energy, Oil & Gas

Iraqi oil production collapses with Strait of Hormuz blocked by conflict

Mon, 09 Mar 2026

Iraqi oil production from its main southern oilfields has fallen by 70 per cent to just 1.3 million barrels per day as the country is unable to export oil via the Strait of Hormuz due to the Iran war, three industry sources said....

Energy, Oil & Gas

Bapco Energies declares force majeure

Mon, 09 Mar 2026

Bapco Energies, Bahrain’s integrated energy company, hereby serves notice of force majeure on its group operations which have been affected by the on-going regional conflict in the Middle East and the recent attack on its refinery complex. ...

Energy, Oil & Gas

Oil prices soar 30% to $119 a barrel as producers cut supplies

Mon, 09 Mar 2026

Oil prices surged nearly 30% to more than $119 a barrel on Monday, hitting levels not seen since mid-2022, as some major producers cut supplies and fears of prolonged shipping disruptions gripped the market due to the expanding US-Israeli war with Iran....

Energy, Oil & Gas

Oman’s oil exports surpass 26 million barrels by end of January 2026

Sun, 08 Mar 2026

Oman’s oil exports recorded a 3 percent increase by the end of January 2026, reaching 26,600,200 barrels compared to 25,821,300 barrels during the same period in 2025....

Energy, Oil & Gas

Hormuz shutdown could force Iraq, Kuwait to curb oil output within days: JP Morgan

Wed, 04 Mar 2026

Crude oil supplies from Iraq and Kuwait could start shutting in within days if the Strait of Hormuz remains closed, potentially cutting 3.3 million barrels ‌per day (bpd) by day eight of the Middle East conflict, JP Morgan analysts said in a note....

Energy, Oil & Gas

Oil and gas prices surge as Hormuz stays closed; Aramco mulls Yanbu route

Tue, 03 Mar 2026

Global oil and gas prices surged on Tuesday as the escalating U.S.-Israeli war with Iran disrupted energy exports from the Middle East, triggering supply fears and sending shockwaves through commodity markets....

Energy, Oil & Gas

OQEP reports robust financial performance, strategic expansion plans

Mon, 02 Mar 2026

OQ Exploration and Production (OQEP) reported 2025 revenue of $1.2 billion and EBITDA of $941 million (81% margin). Operating cash flow strengthened, and the company targets 300 kboepd production by 2030 while maintaining disciplined leverage and shareholder returns. ...

Energy, Oil & Gas

Hundreds of ships drop anchor in Gulf waters

Mon, 02 Mar 2026

At least 150 tankers, including crude and LNG vessels, dropped anchor in open Gulf waters beyond the Strait of Hormuz and dozens more were stationary on the other side of the chokepoint, shipping data showed, after US and Israeli strikes on Iran plunged the region into turmoil....

Energy, Oil & Gas

Oil prices jump 7% over Middle East conflict

Mon, 02 Mar 2026

Global oil prices surged on Monday as escalating hostilities in the Middle East rattled energy markets, raising fears of a prolonged supply disruption from one of the world’s most critical oil-producing regions....

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