Dana Gas, the Middle East's first and largest regional private sector natural gas Company, and Crescent Petroleum have commenced natural gas supplies from the Khor Mor field in Iraq's Kurdistan Region to the Iraqi Ministry of Electricity under a one-year agreement to support power generation at the Kirkuk Taza power station.
Siemens Energy, one of the world’s leading energy technology companies, generated a 70.5% rise in net profit in the third quarter (Q3) of 2026, amounting to €1,188 million, driven by growth recorded across all segments.
The company recorded 18.5% Year-over-year (YoY) rise in revenue (excluding currency translation and portfolio effects) to €11.4 billion.
UAE's ADNOC, a leading diversified energy group, has deployed an artificial intelligence (AI)-enabled Real-Time Operations Center (RTOC) across its fleet of more than 120 onshore and offshore drilling rigs in collaboration with global technology company SLB, aiming to improve drilling efficiency, reduce operational risks, and accelerate decision-making across its upstream business.
US President Donald Trump renewed his call for oil companies to lower gasoline prices for American consumers, while criticizing Chevron CEO Mike Wirth for failing to acknowledge his administration's support for the US oil industry, Reuters reported.
Iraq sold about 42 million barrels (mmbbls) of oil in July, including 35.5 mmbbls from its southern ports and 7 mmbbls through Türkiye’s Ceyhan port, Ali Nizar al-Shatari, Director General of Iraq’s state-run Oil Marketing Company (SOMO), said in comments to Dijlah TV.
Shatry said the fee for transporting crude oil through Turkey was $1.62 per barrel under a one-year agreement recently signed by the two countries.
British Petroleum (bp) reported an underlying replacement cost (RC) profit of $5.73 billion for the second quarter (Q2) of 2026, up 144% year-on-year (YoY) , according to a press release by bp.
Saudi Aramco reported a 44% year-on-year increase in net income for the second quarter (Q2) of 2026, supported by higher crude oil and refined and chemical product prices amid heightened volatility in global energy markets.
The company’s net profit reached $32.69 billion (SAR 122.6 billion) in Q2 2026, up from $22.67 billion (SAR 85.0 billion) in the same quarter of 2025, according to the company’s second-quarter and half-year interim report.
Shell announced signing a Sale and Purchase Agreement (SPA) to sell its entire European onshore renewables portfolio to TotalEnergies as part of its strategy to optimize capital allocation and focus on businesses where it has a competitive advantage.
Iraqi Oil Minister Basim Mohammed Khudair confirmed setting an export ceiling of up to 750,000 barrels per day (bbl/d) in the official agreement signed with the Turkish Ministry of Energy and the company ‘Botas.’ He noted that there are efforts to raise export volumes to 1.5 million barrels (Mmbbl) through a new framework agreement to be signed within a year
OPEC+ has approved a production increase of 188,000 barrels per day (bbl/d) for September 2026, completing the phased rollback of the additional voluntary output cuts introduced in 2023 by seven key member countries.
The decision was made during a virtual meeting on August 2 attended by Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria, and Oman, which reviewed global oil market conditions and the outlook.
