President Trump’s administration is in advanced talks with Venezuela’s interim government for what officials describe as a “massive” energy deal: a U.S. ownership stake or long-term lease covering 17 of the country’s most promising oil and gas fields holding about 90 billion barrels of proven reserves. That is nearly a third of Venezuela’s world-leading 300 […]
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Welcome to the Energy News Beat podcast, where hosts Stu Turley and Rey Trevino (Pecos Operating) break down nine major stories shaping the global energy landscape. In this episode, they explore how oil and diesel markets are adapting to geopolitical disruptions—from Saudi Arabia’s innovative shuttle tanker routes around the Houthis to China’s strategic pivot toward […]
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In Jurassic Park, Dr. Ian Malcolm delivers one of cinema’s most memorable lines: “Life finds a way.” Nature adapts, persists, and routes around obstacles no matter how carefully the fences are built. In the summer of 2026, crude oil is doing the same thing. Blockades and attacks have choked the Strait of Hormuz and the […]
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Iraq is pushing aggressively to more than double its oil production capacity, targeting 8–10 million barrels per day (bpd) within six years—up from roughly 4 million bpd before the recent Iran-related regional conflict disrupted Strait of Hormuz shipping. On August 21, 2026, Prime Minister Ali al-Zaidi announced the goal at the Baghdad Dialog conference and […]
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Nigeria is positioning itself at the forefront of a global shift in oil and gas investment, targeting up to $50 billion in new offshore projects that could help diversify supplies away from the world’s most vulnerable maritime chokepoints. The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has highlighted that new incentives for offshore oil and gas […]
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Oil and gas producers in the Permian Basin are driving electricity demand skyward in West Texas, even as technology companies race to site data centers in the world’s most prolific shale play. The dual surge—from electrifying drilling, fracturing, and production operations, plus hyperscale computing loads—is straining the regional grid and prompting warnings of potential reliability […]
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On August 18, 2026, Evolution announced a definitive agreement to acquire mineral, royalty, and overriding royalty interests spanning approximately 3,420 net royalty acres (NRA) across 152 tracts in Reagan, Upton, Glasscock, Midland, and Martin Counties, Texas, from a non-affiliated private seller. The purchase price is approximately $16 million in cash, subject to customary adjustments. The […]
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The American continents—North and South America combined—have reached a landmark in global energy: roughly 42 million barrels per day of total liquids production. This figure, drawn from recent assessments of crude oil, natural gas liquids (NGLs), other petroleum fuels, ethanol, and biodiesel, marks a decisive shift in the world’s oil map. It has already surpassed […]
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Saudi Arabia is offering to sell crude oil cargoes on a ship-to-ship basis from locations off the coast of Oman, including near Sohar in the Gulf of Oman. This move signals that the kingdom may be ramping up the practice of shuttling barrels through the Strait of Hormuz—often with transponders switched off—mirroring tactics already used […]
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Noreva (formerly Karbone Research), an AI-powered energy market intelligence platform, recently expanded its offerings with enhanced U.S. natural gas forecasting tools. These include merchant curves, scenario modeling, fundamentals analysis, basis and logistics analytics, and capacity pricing forecasts that integrate real transactional data, supply-demand balances, policy factors, and proprietary models. The service aims to provide clearer […]
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