Industry & Analysis
News
May 29, 2026
Chevron CEO Mike Wirth said multiple vessels transiting the Strait of Hormuz were attacked this week, highlighting persistent security risks for oil shipping even as the United States and Iran move closer to a potential ceasefire agreement.
News
May 28, 2026
The U.S. and Iran have reportedly reached a tentative agreement to extend their ceasefire by 60 days and continue negotiations over Tehran's nuclear program and the Strait of Hormuz, though final approval from President Trump remains pending.
News
May 28, 2026
Reform UK Deputy Leader Richard Tice promoted expanded North Sea drilling and lower energy costs during a meeting with major energy companies, highlighting growing political pressure on the UK’s net zero and energy transition policies.
News
May 28, 2026
Three oil tankers tied to Russia’s shadow fleet were reportedly targeted by drone attacks during ship-to-ship crude transfer operations in the Black Sea near Turkey, highlighting escalating risks to regional oil shipping routes.
News
May 27, 2026
In a new opinion piece, World Oil Editor-in-Chief Kurt Abraham examines an unusual Texas primary runoff that saw three pro-industry Republicans—including Sen. John Cornyn and Railroad Commission Chairman Jim Wright—lose high-profile races with potential implications for future energy policy debates.
News
May 27, 2026
African investors and energy companies are increasingly targeting Brazil’s pre-salt developments and Argentina’s LNG infrastructure expansion as part of a broader push to diversify upstream and energy investments beyond domestic markets.
News
May 27, 2026
Former bp chairman Albert Manifold said he was removed without warning or explanation after the company cited governance and conduct concerns, escalating leadership turmoil at the oil major.
News
May 26, 2026
ExxonMobil and ConocoPhillips are negotiating potential re-entry into Venezuela’s upstream sector while seeking stronger investment protections, contract stability and mechanisms to recover billions tied to past nationalizations.
Article
May
Most U.S. operators in Fed District 11 indicated in the original first-quarter 2026 survey that they expected market conditions to improve modestly, influenced partially by the early part of the Iran war. Fed District 11 analysts conducted a special, extra first-quarter survey to re-check executives’ attitudes and found most of them expect prices to remain higher than before hostilities began.
News
May 26, 2026
Oil prices rebounded as renewed military tensions between the U.S. and Iran complicated negotiations aimed at reopening the Strait of Hormuz, prolonging uncertainty across global crude and LNG markets.
News
May 26, 2026
bp has removed Chair Albert Manifold with immediate effect following governance oversight and conduct concerns raised by the company’s board, naming Ian Tyler as interim chair while a permanent successor search begins.
News
May 25, 2026
Eni and its partners have approved the Baleine Phase 3 offshore development in Côte d’Ivoire, a project expected to raise oil production to 150,000 bopd and expand domestic natural gas supply through a new FPSO installation.
News
May 25, 2026
Oil prices fell sharply as U.S. and Iranian officials signaled progress toward a potential agreement to reopen the Strait of Hormuz, easing concerns over global crude and LNG supply disruptions.
News
May 24, 2026
U.S. and Iranian negotiators are reportedly nearing a framework that could reopen the Strait of Hormuz, a critical chokepoint for global oil and LNG trade, though major disagreements over sanctions and uranium enrichment remain unresolved.
News
May 22, 2026
A federal oil and gas lease sale covering Permian basin acreage in Texas and New Mexico generated more than $4 billion, marking the largest onshore lease auction in U.S. history as operators ramp up drilling activity amid stronger oil prices and pro-development policy shifts.
News
May 22, 2026
The African Energy Chamber is promoting new upstream investment opportunities across Africa to South American operators, highlighting LNG expansion, shale gas development and frontier exploration activity across the continent.
Article
May
In his newest column, World Oil Editor-in-Chief Kurt Abraham examines OTC 2026’s continued attendance decline, concerns over the exhibition floor and why rising U.S. oil production is strengthening America’s geopolitical leverage.
News
May 21, 2026
IPAA is backing new legislation from Senator Cynthia Lummis and Congressman August Pfluger aimed at easing methane emissions requirements for marginal oil and gas wells by shifting more oversight to states.
News
May 21, 2026
ConocoPhillips CEO Ryan Lance said Venezuela’s revised oil framework still falls short of what international operators need to justify major upstream investment, citing high government take and unfavorable contract terms.
News
May 19, 2026
The U.S. Treasury has sanctioned 19 vessels tied to Iranian crude, LPG and petrochemical exports in a major escalation of Washington’s crackdown on Tehran’s shadow fleet and oil revenue networks amid ongoing Hormuz disruptions.
