Oil & Gas 360, Author at Oil & Gas 360

SLB to acquire Kelvion for $3.4 billion in data center infrastructure expansion

August 31, 2026

(World Oil) – SLB has agreed to acquire thermal management technology provider Kelvion for approximately $3.4 billion in cash, expanding the oilfield services company’s presence in data center infrastructure as artificial intelligence drives increased investment in power and cooling capacity. Under the agreement, SLB will acquire Kelvion from majority owner Apollo-managed funds and minority shareholder Triton. SLB will also assume approximately $700 million of debt.

Trump to host oil executives after accusing refiners of gouging consumers

August 31, 2026

(BOE Report) – President Donald Trump has accused U.S. oil refiners of gouging Americans, called for a Justice Department investigation and urged companies to use their bumper earnings to bring down gasoline prices that spiked amid the ongoing conflict with Iran. On Tuesday, he is expected to host many of those companies at the White House to celebrate efforts to

Depleted US oil stash loses potency as Iran war grinds on

August 31, 2026

(Investing) – WASHINGTON/HOUSTON – Six months into the U.S.-Israeli war with Iran, Washington may find it harder to calm jittery oil markets after U.S. presidents drained the aging Strategic Petroleum Reserve over the last five years. The SPR, which Washington created after the oil crises of the 1970s, holds crude in a series of 60 underground salt caverns along the coasts

360 Energy Pulse: What mattered this week in energy

August 28, 2026

(By Oil & Gas 360) – Six months into the Iran war, global energy markets are confronting an uncomfortable reality: disruption is no longer a temporary event to trade around, but an increasingly structural consideration for producers, governments, shippers, and investors. Nearly half of global oil flows now originate in or move through conflict-affected regions, Hormuz traffic has fallen to

Exclusive: BKV Corporation at EnerCom Denver- The Energy Investment Conference 2026

August 28, 2026

(Oil & Gas 360) – Publisher’s Note: You can view the EnerCom Denver—The Energy Investment Conference presenter replays for a limited time. As part of an industry that plays a significant role in transitioning to a sustainable future, BKV is passionately dedicated to making advancements in the production of sustainable energy and being a force for good in society. Their

The Iran war has turned VLCCs into $650,000-a-day assets

August 28, 2026

(Oil Price) – More Gulf oil is moving again. Getting it out now costs a fortune. Earnings on the benchmark Saudi Arabia-to-China supertanker route surged to a record $647,000 per day on Thursday, according to Baltic Exchange data cited by Bloomberg. That is more than ten times the rate a year ago—and nearly 27% above the $510,000 reached just ten days earlier. The

Venezuela weighs OPEC exit as producer group faces growing fragmentation

August 28, 2026

(World Oil) – OPEC’s decades-long influence over global oil markets is facing renewed pressure as founding member Venezuela considers leaving the producer group, just months after the United Arab Emirates withdrew. Officials from Caracas are deliberating whether to leave the organization it helped establish more than six decades ago as Venezuela moves closer to the U.S. While an exit would have

Pipelines and ports: Iran war spurs Gulf infrastructure investment

August 28, 2026

(BOE Report) – The Iran war’s redrawing of the global trade map is forcing Gulf nations to retool their investment play book, ploughing capital into infrastructure, from energy pipelines to ports, to weather the fallout from the conflict. The war has highlighted the Gulf’s overreliance on the Strait of Hormuz, previously a chokepoint for 20% of global oil flows but

U.S. rig count increased by 7, is at 580- oil and gas 360

U.S. rig count had no change, is at 588

August 28, 2026

This week’s Baker Hughes Rig Count shows that the U.S. had no change last week, resulting in a total count of 588 rigs. Canada decreased by 5 over last week, resulting in a total Canadian count of 211 rigs. Breakdown by region Of the regions tracked by Baker Hughes, no regions experienced an increase this week. Meanwhile, 2 regions experienced

TotalEnergies completes exit from Arctic LNG 2, transfers 10% stake

August 28, 2026

(World Oil) – TotalEnergies has completed the transfer of its 10% interest in the Arctic LNG 2 project to NordLine, a subsidiary of Novatek, formally ending its ownership in the project. The company had previously disclosed the planned transfer while reporting its second-quarter 2026 results. Following completion of the transaction, TotalEnergies is no longer a shareholder in Arctic LNG 2. Under the transfer agreement, TotalEnergies

Oil drifts lower as Hormuz flows balance slow progress in Iran diplomacy

August 28, 2026

(Investing) – LONDON – Oil prices fell on Friday and were on track for a weekly drop as traders weighed crude flows making it through the Strait of Hormuz against the deadlock in U.S.-Iran diplomacy. Brent crude futures were down 52 cents or 0.6% at $89.18 a barrel at 1419 GMT. West Texas Intermediate crude futures fell $1.01, or 1.2%, to $82.52. Both

Global oil security looks shakier as conflicts hit 45 million Bpd of supply

August 27, 2026

(Oil Price) – Almost half of the world’s oil supply is produced in regions currently engaged in hot conflicts, Reuters reported this week. The situation raises questions about long-term oil supply security and the limits to diversification. The Middle East, of course, is the most obvious and most disruptive example. While oil prices on speculative markets have remained capped by trader optimism, the

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