Canada’s Basel Belly River shale reemerges as oil development hotspot
(World Oil) – On the edge of the Canadian Rocky Mountains, companies including Obsidian Energy Ltd. and Yangarra Resources Corp. are breathing new life into a long-dormant gas reservoir — except now they’re drilling for oil. Both firms are fracing into the sandstone that makes up the Basel Belly
Fluor sells Mexico joint venture stake to ICA for $175 million
(World Oil) – Fluor Corp. has sold its equity stake in the ICA-Fluor Daniel joint venture to longtime partner ICA for $175 million, ending a partnership that has supported oil and gas, power, mining and industrial projects across Mexico for more than three decades. The joint venture, established in
Explainer-Why is a proposed US-Saudi nuclear pact causing alarm in Washington and the Middle East?
(Investing) – DUBAI – The Trump administration backs a nuclear energy pact with Riyadh allowing Saudi Arabia to enrich uranium and process spent atomic fuel, two sources have said, a move that may worry regional states concerned about weapons proliferation. Here are some of the main
China’s LNG buying spree tightens global gas market
(Oil Price) – China raised its liquefied natural gas imports for a second month in a row in June as the world’s top LNG buyer prepares for peak summer power demand. Chinese imports of LNG jumped by 8.3% from a year earlier to 5.68 million
Horizon Petroleum begins production testing at Lachowice gas field in Poland
(Oil & Gas 360) – Publisher’s Note: Horizon Petroleum will present at EneCom Denver – The Energy Investment Conference at the Westin Downtown, August 17-19, 2026. Register to attend. (World Oil) – Horizon Petroleum has advanced its Lachowice gas development in southern Poland after executing a drilling and services contract for the re-entry, recompletion
Baker Hughes wins long-term support agreement for ANOH gas project
(World Oil) – Baker Hughes has been awarded a long-term service agreement by ANOH Gas Processing Company (AGPC) to provide lifecycle services and digital monitoring support for the ANOH Gas Processing Plant in Nigeria. The agreement covers maintenance, repair services, engineering support and digital monitoring for
Refiners elbow traders to take a larger slice of Venezuela’s oil
(BOE Report) – Refiners and oil-producing firms in the U.S. and elsewhere are gaining market share in Venezuela’s crude as they sign direct contracts with state-run PDVSA, challenging the global traders that inked earlier deals with the government of interim President Delcy Rodriguez. Trading
Physical oil prices jump to two-month highs amid supply disruptions
(Investing) – Physical crude oil prices in the Middle East, Europe and Africa rose this week to two-month highs, with some approaching $110 per barrel. Supply disruptions linked to conflicts in Iran and Ukraine left buyers searching for alternative sources. Dated Brent, the global oil
America extends its lead over Russia and Saudi Arabia in oil output
(Oil Price) – While the United States has been the world’s biggest consumer of oil for decades, it became the largest oil producer, too, back in 2018, and has retained that crown ever since. The shale revolution and the growth in the Permian oil production
