Saudi Arabia considers Red Sea pipeline expansion amid Hormuz disruption
July 8, 2026
Saudi Arabia is reportedly in preliminary talks with Kuwait, Bahrain and Qatar about expanding capacity of the East-West crude pipeline by
Crude Oil
OPEC+ raises output as Saudi Arabia slashes prices
July 6, 2026
OPEC+ agreed on 5 July 2026 to raise collective output targets by 188,000 barrels per day (bpd) from August, marking the fifth consecutive
Ukraine hits St Petersburg oil terminal as drone campaign targets Russia’s export network
July 6, 2026
Ukraine struck the St Petersburg Oil Terminal during a major drone attack on Friday, according to Russian regional authorities. The raid
Oil prices slump as banks lower forecasts and Hormuz flows recover
July 3, 2026
UBS, Morgan Stanley and other banks have slashed oil price forecasts, citing faster‑than‑expected resumption of Gulf exports. UBS cut its third
Genel Energy’s $360 million takeover of Capricorn signals MENA push
July 2, 2026
Genel Energy will acquire Capricorn Energy for $360 million, paying $4.74 per share comprising $3.75 in cash and a $0.99 special
Labour MPs press Burnham to reject Rosebank as North Sea debate sharpens
July 1, 2026
More than 60 Labour MPs and MSPs have urged Andy Burnham to resist pressure to approve the Rosebank oil field, arguing
Oil prices slide as US-Iran talks cool ‘war premium’
July 1, 2026
Brent crude fell to around $73/barrel and US WTI to about $69 per barrel on Monday, marking their steepest quarterly decline
Equinor drops plan to electrify Wisting field from shore
June 29, 2026
Equinor and its partners have scrapped plans to power the Wisting oilfield with electricity from shore, citing high costs and technical
Iraq warns it might leave OPEC over production quotas
June 29, 2026
Iraqi officials said the country could consider leaving OPEC if it is not allowed to increase its oil production quota significantly.
Cautious Hormuz reopening tempers oil prices, but risks persist
June 25, 2026
A ceasefire between the US and Iran has enabled three stranded supertankers and several Qatar‑controlled LNG carriers to transit the Strait
Recent News
Clean hydrogen investment passes $130 billion, but demand remains uncertain
September 11, 2026
The North Sea: Beyond oil and gas
September 10, 2026
