(Oil Price) – Mexico’s state oil firm Pemex and Brazil’s national oil company Petrobras are joining efforts and expertise to drill prospects in Mexican waters in the Gulf of Mexico, hoping to unlock huge oil resources from source rock formations that are miles deeper and eight times older than the currently producing formations in the U.S. Gulf. Exploration in the Jurassic
(World Oil) – Comet Ridge has completed the acquisition of Santos’ 42.86% interest in the Mahalo Gas Project, giving the company 100% ownership and operatorship of the broader Mahalo Gas Hub in Queensland. The transaction follows an agreement announced in December 2025 and amended in May 2026. Comet Ridge paid Santos A$24.42 million in cash and issued 83.78 million Comet Ridge shares as
(Oil Price) – Natural gas prices in Europe need to jump by December for European storage to fill up with enough inventory for the coming winter if the Strait of Hormuz crisis persists and keeps spot LNG prices in Asia elevated, according to Goldman Sachs. Since the Middle East crisis began, Europe has started losing the competition with Asia for spot
(BOE Report) – In rural west Texas where oil rigs and pump jacks dot the sparse flat landscape, an ExxonMobil contractor sits in a small office on a drilling rig, using controls on a screen to operate robotic machinery and move tall steel pipes weighing roughly 2,000 pounds. This work would usually require human overseers standing on the rig floor,
(World Oil) – Iran said it discovered more than 7.5 trillion cubic feet of natural gas, after months of war with the U.S. and Israel seriously disrupted its energy sector. Around 5.7 Tcf of the find in the country’s southern Fars province is recoverable, Oil Minister Mohsen Paknejad told state TV on Sunday. He described it as equivalent to 15 years
(Investing) – WASHINGTON/ISLAMABAD – The United States was set to warn countries to cut ties with Iran or risk their businesses being cut off from the dollar-based financial system when it unveils the “greatest financial offensive ever” on Monday, a source told Reuters. U.S. Treasury Secretary Scott Bessent will outline measures at 1 p.m. (1700 GMT) to broaden the scope of
