Shell has agreed to acquire full ownership of Tri Star Energy, expanding its company-owned fuel and convenience retail network across Tennessee and neighboring US states as part of its strategy to focus capital on high-return markets.
Venezuela’s National Assembly has backed an oil deal with the administration of US President Donald Trump, ahead of a planned visit to Caracas by US Energy Secretary Chris Wright.
The agreement would give the US access to around one-fifth of Venezuela’s oil reserves through an arrangement under which private oil company North American Blue Energy Partners (NABEP) would receive a 100-year lease for 17 oil fields in Venezuela holding some 65 billion barrels of oil reserves.
Iraq is advancing technical and economic preparations for the proposed Basra-Haditha-Kirkuk-Baniyas oil pipeline, aiming to strengthen crude transportation infrastructure, diversify export routes, and enhance the resilience of its oil exports.
SLB has agreed to acquire thermal management and heat exchange technology provider Kelvion for approximately $4.1 billion, including $3.4 billion in cash and the assumption of about $700 million in debt, as the oilfield services company accelerates its expansion into the fast-growing data center infrastructure market.
Under the agreement, SLB will acquire Kelvion from funds managed by Apollo, its majority owner, and Triton, which holds a minority stake.
PetroChina reported RMB 1.53 trillion (around $214.5 billion) in revenue for the first half of 2026, marking a 5.3% year-on-year (YoY) increase, according to the company’s interim results.
Profit attributable to owners of the company reached RMB 103.94 billion ($14.6 billion), rising 22% YoY and exceeding RMB 100 billion for the first time in a six-month period.
Trump said oil from a new Venezuela deal will be used to replenish the depleted US Strategic Petroleum Reserve, as Washington moves to gain greater control over Venezuela’s vast crude reserves.
The US plans to acquire a 35% passive stake in Venezuelan businessman Alejandro Betancourt’s North American Blue Energy Partners.
The US plans to acquire a 35% passive stake in Venezuelan businessman Alejandro Betancourt’s North American Blue Energy Partners, according to the Wall Street Journal.
British oil major Shell has ended negotiations to sell its 37.5% stake in Germany’s PCK Schwedt refinery to Polish energy company Unimot, Reuters reported, citing Bloomberg News.
Ship traffic through the Strait of Hormuz remained significantly below normal levels on August 25, with only five commodity vessels crossing the key energy chokepoint, according to preliminary data from shipping tracker Kpler cited by Reuters.
The number of vessels was well below the 10-day average of 15 crossings. Two liquefied petroleum gas (LPG) tankers and one bitumen tanker exited the Gulf, while two empty product tankers entered from the Gulf of Oman.
