August 25, 2026

Norway warns oil and gas output could collapse after 2030

August 25, 2026

(Oil Price) – Norway is producing oil and gas faster than the industry is finding new resources, increasing the risk of a steep decline after 2030, according to a new report from the Norwegian Offshore Directorate. The warning comes despite strong current activity. Norwegian oil production reached its highest level since 2009 last year, while petroleum investment in 2026 is estimated at approximately

Six months into Iran war, almost half of global oil flows from war zones

August 25, 2026

(Investing) – LONDON – Almost half the world’s oil comes from countries affected by conflict in 2026, Reuters calculations show, underscoring that current disruptions have eclipsed previous energy crises. Six months ago, U.S. and Israeli attacks on Iran triggered what has become the largest oil supply crisis on record, with no clear end in sight. At the same time, the

Equinor eyes major oil discovery offshore Namibia

August 25, 2026

(Oil Price) – Norway’s energy major Equinor hopes to make a “pretty big” oil discovery offshore Namibia, the global exploration hotspot it has just entered, a senior company official said on Tuesday. Equinor hopes that the Petroleum Exploration License 90 (PEL 90) offshore Namibia could hold a big discovery similar to those TotalEnergies and Galp have made in recent years in

Commodity vessel transits through Strait of Hormuz hit three-month low, data shows

August 25, 2026

(BOE Report) – Just two commodity vessels transited the key energy chokepoint of the Strait of Hormuz on Monday, for the lowest daily tally since early May, with both entering the Gulf, shipping data showed. The figure was also well below the 10-day average of 14, with just one very large gas carrier and one very large crude carrier entering

bp awards Halliburton drilling services contract for Bumerangue appraisal

August 25, 2026

(World Oil) – bp has awarded Halliburton an integrated drilling services contract for the first appraisal campaign at the Bumerangue field offshore Brazil, as the operator moves to further evaluate its deepwater discovery. Under the contract, Halliburton will provide an integrated package of drilling and reservoir evaluation services aimed at supporting the appraisal program and improving operational efficiency. The scope will combine multiple Halliburton drilling and

Oil hits one-week low as investors shrug off US sanctions on Iran

August 25, 2026

(Investing) – Oil prices fell 3% to a one-week low on Tuesday as traders shrugged off the latest U.S. sanctions campaign against Iran, viewing economic pressure as posing less risk to oil supplies than a military escalation. Brent crude futures were down $2.75, or 2.98%, to $89.42 a barrel at 1219 GMT, while U.S. West Texas Intermediate crude was down $2.67, or 3.14%, at $82.34.

Norway warns oil and gas output could collapse after 2030

Six months into Iran war, almost half of global oil flows from war zones

Equinor eyes major oil discovery offshore Namibia

Commodity vessel transits through Strait of Hormuz hit three-month low, data shows

bp awards Halliburton drilling services contract for Bumerangue appraisal

Oil hits one-week low as investors shrug off US sanctions on Iran

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