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UAE Quits OPEC Alliance, Citing Production Quota Disputes
The United Arab Emirates will withdraw from OPEC and the OPEC+ alliance effective May 1. State-run news agency WAM announced the departure on Tuesday. This...
UAE Exits OPEC and OPEC+, Citing Dissatisfaction With Regional Security Response
The United Arab Emirates announced its departure from OPEC and the OPEC+ alliance on Tuesday. This move weakens the cartel’s market influence during a period...
BP doubles profits to $3.2 billion, fueled by Iran conflict oil trading
BP first-quarter profits reached $3.2 billion. This figure more than doubled the $1.38 billion reported during the same period last year. Exceptional oil...
BP Profits Jump 130% to $3.2B, Driven by Oil Trading
BP reported first-quarter underlying profits of $3.2 billion. This figure represents a 130% increase over the same period last year. The results significantly...
BP eyes 87% profit surge, driven by exceptional oil trading gains
BP reports first-quarter 2026 earnings on April 28. Analysts forecast earnings per share will rise between 75% and 87% year-over-year. Exceptional oil trading...
Shell acquires ARC Resources for $16.4 billion, expanding its Canadian shale footprint
Shell reached a definitive agreement to acquire Canadian energy firm ARC Resources Ltd. for an enterprise value of $16.4 billion. The transaction consists of...
Shell Buys ARC Resources for $13.6 Billion, Prioritizing Fossil Fuels
Shell plc reached a definitive agreement to acquire Canadian producer ARC Resources Ltd. for US$13.6 billion. This cash-and-stock transaction marks Shell’s...
Shell Buys ARC Resources for $13.6B, Its Largest Deal in a Decade
Shell plc signed a definitive agreement to acquire Canadian producer ARC Resources Ltd. for US$13.6 billion. The cash-and-stock transaction marks Shell’s most...
U.S. rejects Iran's Hormuz deal, sending oil to $106
Oil prices rose Monday after the White House rejected an Iranian proposal to reopen the Strait of Hormuz. Iran offered to end its blockade if the U.S. lifted...
Shell to Acquire ARC Resources for $22B, Strengthening LNG Portfolio
Shell plc signed a definitive agreement to acquire ARC Resources Ltd. for approximately $22 billion. The transaction value includes assumed debt. Shell will...
Brent Crude Surges Past $108, as US-Iran Peace Talks Stall
Oil prices climbed Monday as hopes for a U.S.-Iran resolution faded. Peace talks in Pakistan stalled after Iranian envoys departed before meeting U.S....
Shell acquires ARC Resources for $22B, betting on Canadian shale
Shell signed a definitive agreement to acquire Canadian producer ARC Resources for $22 billion. This valuation includes assumed debt. The cash-and-stock deal...
Goldman Sachs raises Brent forecast to $90, citing Hormuz supply disruptions
Goldman Sachs raised its oil price forecasts on April 27, 2026. The bank cited prolonged supply disruptions in the Strait of Hormuz and resulting inventory...
Goldman Sachs Hikes 2026 Oil Forecasts, Citing Middle East Shipping Delays
Goldman Sachs raised its fourth-quarter 2026 crude oil price forecasts. The bank cites lower Middle East production and prolonged shipping disruptions for the...
Chevron CEO backs Venezuelan oil reforms, warns more investment needed
Chevron CEO Mike Wirth characterized Venezuela’s recent oil policy changes as a positive step in an April 27 interview. He stated the measures are currently...
ExxonMobil ships first Golden Pass LNG, diversifying revenue amid global demand
ExxonMobil and QatarEnergy shipped the first liquefied natural gas (LNG) cargo from the Golden Pass terminal in Texas. This shipment marks the official...
ExxonMobil starts Golden Pass LNG exports, diversifying beyond oil projects
ExxonMobil and QatarEnergy shipped the first liquefied natural gas (LNG) cargo from the Golden Pass terminal in Texas. This milestone marks the official...
Oil Prices Slide, U.S.-Iran Peace Talks Target Strait of Hormuz
Crude oil prices declined Sunday as U.S. diplomats began peace talks with Iran in Islamabad, Pakistan. These negotiations aim to fully reopen the Strait of...
CNPC and Turkmengaz Launch $5.1B Expansion to Boost China’s Gas Supply
Turkmengaz and China National Petroleum Corporation (CNPC) have commenced construction on Phase 4 of the Galkynysh Gas Field expansion. The project is valued...
US Shale Producers Reject Production Spikes, Despite Iran Conflict
A Federal Reserve Bank of Dallas survey shows U.S. shale executives do not plan to significantly ramp up oil production through 2026. The poll surveyed over...