The U.S. Energy Information Administration published its April Short-Term Energy Outlook this week, examining the implications of the closure of the Strait of Hormuz.• Global oil production. Oil flows through the Strait of Hormuz continue to be limited causing oil storage to fill quickly in...
(Oilandgaspress) Oil crisis caused by Strait of Hormuz closure continues to create serious disruption to energy supplies and prices which is affecting global economies. Oil and Gas BlendsUnitsOil PriceChangeCrude Oil (WTI) OilpriceUSD/bbl$116.00UpCrude Oil (Brent)USD/bbl$110.50UpBonny Light 07/04/26 CBNUSD/bbl$135.11UpDubaiUSD/bbl$128.52--Natural GasUSD/MMBtu$2.85UpMurbanUSD/bbl$118.60UpOPEC basket 06/04/26 OPECUSD/bbl$123.87UpAt press time April 07, 2026 Around...
As agreed during the virtual meeting held by the eight countries with additional voluntary adjustments, including Saudi Arabia, Russia, Iraq, the United Arab Emirates, Kuwait, Kazakhstan, Algeria, and Oman on 1 March 2026, the OPEC Secretariat received updated compensation plans as per the table below Related...
The eight OPEC+ countries, which previously announced additional voluntary adjustments in April and November 2023, namely Saudi Arabia, Russia, Iraq, UAE, Kuwait, Kazakhstan, Algeria, and Oman met virtually on 5 April 2026, to review global market conditions and outlook. In their collective commitment to support oil...
The Hyundai IONIQ 5 and Palisade SE trim models have received the 2026 Best Value New Car award by Cars.com. The IONIQ 5 SE was recognized as the Best Value EV, while the Palisade SE earned the title of Best Value Midsize SUV. These honors...
Renault Group opens a new chapter in its electric journey by bringing together all of its charging activities and related services under a single name. With Plug Inn, the Group unifies, clarifies and strengthens its charging ecosystem to support the large-scale rollout of electric mobility...
Acwa announces that two of its solar IPP plants have been subject to temporary limitation on power dispatch following instructions from the grid operator citing alleged reactive power fluctuations affecting grid stability, matters that both project companies deny. Al Kahfah Solar PV IPP (1,425 MW) received...
ADNOC Gas plc and its subsidiaries confirmed shareholder approval of all agenda items at its Annual General Meeting (“AGM”), including a record $3.584 billion dividend for 2025, with a final dividend of $896 million payable in May. ADNOC Gas recently experienced an incident at the Habshan...
ADNOC Gas plc announced that an incident at its Habshan complex on April 3 caused damage to certain facilities. The affected area was isolated, and a comprehensive assessment of the damage to the Habshan train is ongoing. Domestic demand is being met through ADNOC Gas’...
TotalEnergies has decided to extend until the end of April: the capping of the price of petrol at € 1.99/L ;the capping of the price of diesel at €2.25/L .Given the strong demand for diesel in France and the priority given to the purchasing power of...
Baker Hughes announced it has secured a strategic order from San Matias Pipeline S.A. to supply three gas compression units for a major natural gas pipeline project in Argentina. The order consists of three NovaLT™16 gas turbines equipped with three centrifugal compressors, along with commissioning services,...
The Norwegian oil and gas operator, today announced the start-up of the Symra field offshore Norway nine months ahead of schedule. DNO has a 20% stake in the field, which is operated by Aker BP ASA (50 percent), with Equinor Energy AS holding the balance....