President Donald Trump is scheduled to sit down Tuesday afternoon, September 1, with executives from at least 10 U.S. fuel makers and distributors. The agenda is straightforward and politically urgent: persistently high gasoline and diesel prices, what the industry can do about them, and how to expand domestic refining capacity. We hope he looks for […]
Continue Reading
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 […]
Continue Reading
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 […]
Continue Reading
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 […]
Continue Reading
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 […]
Continue Reading
The Trump administration’s third mandated offshore oil and gas lease sale in the Gulf of America (formerly the Gulf of Mexico) offered more than 81 million acres across roughly 15,100 unleased blocks on August 12, 2026. Conducted by the Marine Minerals Administration (the agency formed by combining the Bureau of Ocean Energy Management and the […]
Continue Reading
The effective closure of the Strait of Hormuz amid the 2026 Iran-related conflict has fundamentally altered global liquefied petroleum gas (LPG) trade flows. Middle Eastern exports from Saudi Arabia, the UAE, Qatar, and Iran slowed sharply as tanker traffic collapsed and infrastructure faced risks or attacks. Before the escalation, roughly 54 oil, chemical, and LPG […]
Continue Reading
Global oil refineries outside active conflict zones are operating near or at maximum capacity, with almost no remaining buffers to absorb further shocks. Saudi Aramco CEO Amin Nasser made the point clearly this week: the system is stretched thin, leaving “little shock absorbers or buffers” against higher fuel prices. A combination of the ongoing war […]
Continue Reading
In the second quarter of 2026, ExxonMobil and Chevron delivered blockbuster earnings, fueled by elevated oil prices stemming from the ongoing Iran conflict and associated supply disruptions in the Middle East, including pressures around the Strait of Hormuz and Red Sea. These results highlight the resilience of the U.S. majors’ integrated portfolios amid geopolitical volatility, […]
Continue Reading
In the second quarter of 2026, ExxonMobil and Chevron delivered blockbuster earnings, fueled by elevated oil prices stemming from the ongoing Iran conflict and associated supply disruptions in the Middle East, including pressures around the Strait of Hormuz and Red Sea. These results highlight the resilience of the U.S. majors’ integrated portfolios amid geopolitical volatility, […]
Continue Reading