Governments and energy firms ramp up spending on oil and gas exploration to counter the worst supply shortage in history. A historic oil and gas supply crunch has pushed energy security to the top of global policy agendas, driving a sharp increase in exploration investment
Safety measures at Ras Laffan port disrupt 20% of global LNG flows amid heightened regional tensions and attacks on energy infrastructure. Qatar has instructed vessels near its Ras Laffan LNG port to turn off transponders as a safety precaution. The move affects the world’
Increased crude shipments aim to boost energy sector profits but gasoline prices remain elevated at $4.504 per gallon. Ships are arriving at Texas and Louisiana ports to load US crude, signaling a rise in oil exports. The development is expected to support domestic drillin
Santos commits $160m to expand PNG gas production, targeting 135 mscf/d incremental capacity by Q2 2028. Santos has sanctioned the Agogo tie-in project in Papua New Guinea, involving a 19km pipeline and two new wells to connect gas production to the PNG LNG pipeline. The p
The Energy Information Administration (EIA) released the Monthly Energy Review on Tuesday. The report showed that the US hit a record energy production in 2025, recording a 3.4% increase from the previous record set in 2024. “Total production was driven by record-high prod
The agreements cover slightly over 1 million metric tons annually for five years, expanding Venture Global’s LNG export commitments. Venture Global announced new liquefied natural gas supply deals with TotalEnergies and Vitol, totaling slightly more than 1 million metric t
West Texas Intermediate (WTI), futures on NYMEX, is 2.6% higher to near $98.00 during the European trading session on Tuesday. The oil price gains sharply amid growing doubts that the temporary ceasefire between the United States (US) and Iran, announced in early April, wo
The U.S. government will loan about 53.3M barrels of crude from the Strategic Petroleum Reserve to nine companies as part of its contribution to the International Energy Agency's coordinated action to stabilize global oil supplies. The companies that were granted
Shipping data shows a rebound in China’s liquefied natural gas imports, though volumes remain below the five-year average. China’s liquefied natural gas imports have climbed from April’s eight-year low, with the 30-day moving average reaching its highest level since late F
Brent crude trades at $104.21 despite heightened US-Iran tensions and a functionally closed Strait of Hormuz, reflecting muted market reaction. Brent crude rose modestly to $104.21 per barrel, up 2.88%, while WTI remains below $100, despite renewed US-Iran tensions. Market
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