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Infrastructure company WhiteWater and its joint venture partners Devon Energy, MPLX, Diamondback Energy and Western Midstream Partners said on Monday they had reached a final investment decision (FID) to build two natural gas pipelines from the Permian Basin to Katy, Texas. The Permian Basin, the largest oil-producing region in the U.S., has seen steady growth in associated natural gas production in recent years, spurring investment in new pipeline infrastructure to move gas to key demand centers along the U.S. Gulf Coast. * The companies said the joint venture, known as the Solitude Pipeline System, is backed by substantial long-term firm transportation agreements with investment-grade shippers. * The pipeline system will be developed in phases, with initial capacity of about 2.25 billion cubic feet per day (Bcf/d) expected in late 2029, the companies said. * A second phase is due in 2030 and would add another 2.25 Bcf/d of capacity, bringing total capacity to about 4.5 Bcf/d, they added. * The companies said the system’s design would allow further capacity expansions to accommodate additional shipper demand. * WhiteWater owns 50% of the joint venture, while Devon Energy holds 25%, MPLX holds 10%, and Diamondback Energy and Western Midstream Partners each hold 7.5%. * Solitude is expected to enter service in the second half of 2029, subject to customary regulatory and other approvals. (Reporting by Varun Sahay in Bengaluru; Editing by Tasim Zahid)- oil and gas 360

WhiteWater-led venture approves Permian-to-Texas gas pipeline project

August 17, 2026

(BOE Report) – Infrastructure company WhiteWater and its joint venture partners Devon Energy, MPLX, Diamondback Energy and Western Midstream Partners said on Monday they had reached a final investment decision (FID) to build two natural gas pipelines from the Permian Basin to Katy, Texas. The Permian Basin, the largest oil-producing region in the U.S., has seen steady growth in associated

Chevron strikes oil and gas in Angola’s Block 0, eyes tieback development

August 17, 2026

(World Oil) — Chevron has made an oil and gas condensate discovery in Block 0 offshore Angola, encountering more than 300 ft of net pay as the company continues to expand its exploration program across Sub-Saharan Africa. The 105-4X exploration well, drilled in the Lower Congo basin, encountered an oil and gas condensate column exceeding 2,000 ft in the primary Pinda reservoir, including more than 300

US banks lending commitments signal confidence in AI capex cycle sustainability, KBW says

August 17, 2026

(BOE Report) – KBW says last week’s major capital commitments from U.S. big banks linked to domestic infrastructure and AI build out signal confidence in the sustainability of the capex cycle ** Bank of America pledged $250 billion for US infrastructure financing and Morgan Stanley launched a $1.5 trillion infrastructure initiative ** Elsewhere, Nvidia partnered with Wall Street giants including

Oil majors reap $93 billion windfall from the Iran war

August 17, 2026

(Oil Price) – Oil prices have soared in recent months as a result of the almost complete closure of the Strait of Hormuz, a key trade corridor connecting Asia and Europe. High fossil fuel prices have helped to drive up the profits of oil and gas companies around the globe, particularly in the United States and Europe. As a few

Shipping slows through Strait of Hormuz after tanker attacks, data shows

August 17, 2026

(BOE Report) – Shipping through the Strait of Hormuz slowed over the weekend, data showed on Monday, following attacks on tankers, while U.S.-Iran talks to resolve the Middle East conflict stalled. Five commodity vessels transited the strait on Saturday, with none registered for Sunday, shiptracking data from Kpler showed, versus 31 in the prior weekend. Ships entering the strait on

Petro-Victory increases Brazil oil production 128% through mature-field workovers

August 14, 2026

(World Oil) — Petro-Victory Energy Corp. has more than doubled oil production during its first year of operations at Capixaba Energia in Brazil, while reducing production costs and identifying additional reservoir opportunities through a workover and optimization program. Oil production increased 128%, from 256 bpd to 583 bpd, while natural gas production rose 471%, Petro-Victory reported. Production costs declined 37%, from

Asian refiners buy more US crude as Hormuz remains blocked, traders say

August 14, 2026

(BOE Report) – At least four Asian refiners bought U.S. crude this week, as the Strait of Hormuz remained effectively closed and refiners sought alternative supplies for delivery later this year, traders said. Shipping traffic at the Strait of Hormuz fell below the average for this month towards the end of the week due to competing U.S. and Iran claims

Iran’s economy is buckling under the weight of war

August 14, 2026

(Oil Price) – Every week, the shopping lists of Iranians become shorter as inflation soars and purchasing power plunges. “As things disappear from the dining table, fruit goes first, then dairy products, then anything considered non-essential,” a woman in the Iranian capital, Tehran, said in an audio message sent to RFE/RL’s Radio Farda. “Ultimately, everything we buy is only essentials,

Stalled Alaska LNG pipeline bill sends ‘negative signal,’ governor says

August 14, 2026

(BOE Report) – Alaska Governor Mike Dunleavy said he was “deeply disappointed” that a bill to advance a pipeline for the Alaska LNG project to export natural gas to Asia stalled in the state legislature. Dunleavy said in a post on X late on Wednesday that the legislature’s decision not to reconvene this session to vote on a tax change

Oil prices on pace for weekly gain amid Hormuz supply uncertainty

August 14, 2026

(Investing) – Brent crude futures, the global oil benchmark, had edged down 0.2% to $86.84 a barrel, while U.S. West Texas Intermediate crude futures had dipped 0.4% to $80.91 a barrel by 09:30 ET (13:30 GMT). Brent and WTI futures were trading up around 5% this week. The effective closure of the Strait of Hormuz has been a key point of support for

U.S. backs X-Energy reactor with up to $2.15 billion

August 13, 2026

(Oil Price) – Washington is putting real money behind advanced nuclear. The US Department of Energy is gearing up to hand X-energy another $1 billion for its planned nuclear project with Dow in Texas, bringing total federal funding available for the project since 2021 to as much as $2.15 billion. That is no longer demonstration-project pocket change. CEO Clay Sell

Emerson wins bp automation contract for $2.9 billion Shah Deniz project

August 13, 2026

(World Oil) — bp has awarded Emerson a multi-million-dollar contract to provide automation technologies for the $2.9 billion Shah Deniz Compression project offshore Azerbaijan, supporting increased gas recovery from the Caspian Sea field. The project represents the next phase of development at Shah Deniz and is designed to access lower-pressure gas reserves as the field matures. It is expected to enable production and

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