Saudi Arabia’s listed petrochemical sector has started 2026 with a much smaller loss bill, but the recovery remains uneven and heavily dependent on cost discipline, plant reliability and global demand.
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Chevron said on Monday it had discovered oil and gas condensate at an exploration well in Block 0, offshore Angola, adding to its push to increase production in sub-Saharan Africa through infrastructure-led exploration.
Saudi Aramco is offering crude oil outside the Strait of Hormuz to some Asian refiners through private negotiations, two sources with knowledge of the matter said on Monday, in a strategy similar to that adopted by United Arab Emirates' Abu Dhabi National Oil Co (ADNOC).
India has set a maximum daily cooking gas production target of 63,810 metric tons for state-run and private refineries to ensure domestic supplies and build buffers after U.S.-Israeli war against Iran disrupted supplies of the essential fuel, according to an August 13 government order.
has issued its first natural gas savings certificate, covering 5 million cubic meters, for an energy-efficiency project in Yazd province carried out under a contract with a gas service company, Oil Minister Mohsen Paknejad said.
The United Arab Emirates said on Saturday Iran had attacked an Abu Dhabi National Oil Company vessel while it was transiting the Strait of Hormuz a day earlier, the Emirati state news agency WAM reported.
Officials from Tehran and Dushanbe will ink a long-term cooperation agreement for the export of petroleum products and the supply of crude oil to Tajikistan’s refineries.
The CEO of the National Iranian Oil Company dismissed social media reports linking oil pollution and slicks in the sea near Qeshm Island to Iran’s oil facilities, saying the company has only limited facilities in the area and they are currently shut down for maintenance.
Tajikistan plans to expand infrastructure and logistics capacity to increase the volume of crude oil and petroleum products transported between Iran and Tajikistan, the country’s transport minister said Saturday.
Five senior Iranian officials will face sanctions for their involvement in activities in the Strait of Hormuz that "undermine international peace," according to Canada's foreign affairs minister.
Brent crude oil futures rose $1.43, or 1.64%, to $88.50 a barrel. U.S. West Texas Intermediate (WTI) crude futures gained $1.56, or 1.92%, to $82.81 a barrel.
Russia's second new domestically-built ice-class carrier for transporting liquefied natural gas, the Konstantin Posiet, departed from Bolshoy Kamen Bay in Primorsky Krai and set a course along the Northern Sea Route, LSEG data showed on Friday.
Indian dependence on Russia's crude surged to a record in July, with shipments from the country making up 50.83% of imports by the third-biggest oil buyer and consumer, or 2.47 million barrels per day, data from trade sources showed.
Brent crude oil futures fell $1.54, or 1.7%, to $87.44 a barrel. U.S. West Texas Intermediate (WTI) crude futures declined $1.61, or 1.9%, to $81.66 a barrel.
Totsa, the trading arm of TotalEnergies, is offering Iraqi crude for loading outside the Strait of Hormuz, three traders said on Thursday, as continued disruption to shipping through the waterway deters buyers from lifting cargoes at Iraq's Basrah terminals.
Iran’s crude oil production rose by 26,000 barrels per day in July 2026, reaching 2.478 million barrels per day and maintaining the country’s position as OPEC’s second-largest producer after Saudi Arabia, according to the organization’s latest monthly oil market report.
Iran’s Khark Petrochemical Company has entered joint projects with the Iranian Offshore Oil Company (IOOC) to collect flare gases, taking a new step toward securing sustainable feedstock, reducing flaring, and returning approximately 25 million cubic meters of gas to the national consumption cycle.
Brent crude futures rose 17 cents, or 0.2%, to $89.08 a barrel. U.S. West Texas Intermediate (WTI) crude rose 20 cents, or 0.2%, to $83.40 a barrel.
Global oil supply will fall by 4.3 million barrels per day, or around 4%, this year, the International Energy Agency said in its monthly oil market report on Wednesday, as renewed hostilities in the Middle East are set to plunge the world deeper into an oil-market deficit.
ADNOC has taken final investment decisions (FIDs) and handed out $8.2 billion in engineering, procurement and construction contracts for phases 2 and 3 of its Rich Gas Development (RGD) project, raising its targeted EBITDA growth to 60% by 2030 versus 2023, which is seen as an upgrade from the previously communicated target of more than 40% over 2023-2029.