bp Starts Process to Sell North Sea Assets

• Sunday, 2nd August 2026
• by Doaa Ashraf

British Petroleum (bp) is launching a process to market its North Sea business for a potential sale, as part of its ongoing portfolio review and its approach to capital allocation for creating a simpler, stronger, and more valuable company, according to bp statement.  

The company’s North Sea portfolio has been operating for more than six decades and comprises five production hubs: Andrew and ETAP in the central North Sea, and Glen Lyon, Clair and Clair Ridge west of Shetland.

Iraq, Türkiye sign one-year pipeline agreement to secure crude exports

• Sunday, 2nd August 2026
• by Sarah Samir

Iraq and Türkiye have signed a one-year agreement to maintain operations of the Iraq-Türkiye crude oil pipeline, ensuring the continued flow of Iraqi crude through the country's only functioning export pipeline while the two sides negotiate a broader long-term energy cooperation framework, Reuters reported.

ExxonMobil Posts Highest Quarterly Profit in Four Years

• Sunday, 2nd August 2026
• by Samar Samir

ExxonMobil reported its strongest quarterly profit in four years during the second quarter (Q2) of 2026, driven by stronger crude prices and improved refining margins following geopolitical tensions in the Middle East. However, the US oil major narrowly missed Wall Street expectations as commodity price volatility and regional supply disruptions weighed on results, according to the company.

Eni’s Q2 EBIT Doubles to €5.38 Bn as Sales Rise 32%

• Thursday, 30th July 2026
• by Doaa Ashraf

The Italian energy company’s Eni reported adjusted earnings before interest and taxes (EBIT) of €5.38 billion in the second quarter (Q2) of 2026, compared to €2.68 billion recorded in the same period of 2025.

Eni said the increase was driven primarily by strong performance in its Exploration & Production (E&P) business, Global Gas & LNG Portfolio (GGP) and Transition businesses.

Sales from operations amounted to €22.314 billion in the second quarter, up 32% year-on-year (YoY) from corresponding period of 2025.

Dynamis, Baker Hughes Secure 1.3 GW Mobile Gas Turbine Order

• Thursday, 30th July 2026
• by Fatma Ahmed

Dynamis Power Solutions, a US-based provider of hypermobile power generation solutions, and Baker Hughes, a global energy technology company, have secured a major order for 76 NovaLT™16 gas turbines, supporting approximately 1.3 gigawatt (GW) of hypermobile power generation capacity for data center projects and oil and gas applications across North America, according to a statement by Baker Hughes.

Mera Oil Consortium Shortlists Three GCC Sites for $5 Bn Gulf Integrated Refinery, Export Corridor

• Wednesday, 29th July 2026
• by Doaa Ashraf

The MERA Oil consortium, comprising US and Saudi Arabian companies, is entering the final stage for selecting a host for their planned $5 billion integrated refinery and export corridor in the Gulf, according to Reuters.

The consortium is narrowing potential locations to three sites across the six-member Gulf Cooperation Council (GCC) and the preferred host country is expected to be announced by the end of 2026, Reuters said.

The energy complex will be located outside the Strait of Hormuz, providing direct access to international shipping routes and offering an alternative export platform, Reuters added.

OPEC+ Eyes Pause in Oil Output Hikes After September

• Wednesday, 29th July 2026
• by Doaa Ashraf

OPEC+ is expected to pause its planned oil production increases for three months starting in October after completing the scheduled return of barrels to the market in September, Reuters reported, citing sources familiar with the matter.

According to the sources, the pause would keep around 2 million barrels per day (mmbbl/d) of OPEC+ production cuts in place beyond September while the alliance discusses new production quotas expected to take effect in January 2027.

Türkiye, Iraq Eye Broad Energy Pact

• Wednesday, 29th July 2026
• by Sarah Samir

Türkiye seeks to conclude a broad energy cooperation agreement with neighboring Iraq “as soon as possible,” following talks with Iraqi Prime Minister Ali al‑Zaidi in the Turkish capital, President Tayyip Erdogan said according to Reuters.

Libya Resumes Production at El Feel, Wafa Oilfields

• Tuesday, 28th July 2026
• by Doaa Ashraf

Libya's National Oil Corporation (NOC) has resumed production at the El Feel and Wafa oilfields after operations were temporarily halted following disruptions at the Mellitah Oil & Gas Complex, according to Reuters. 

The Mellitah complex is jointly operated by NOC and Italy's Eni. It manages production from the El Feel oil field, which produces between 80,000 and 90,000 barrels per day (bbl/d) under normal operating conditions.

QatarEnergy Extends Force Majeure, Edison Replaces Cargoes

• Tuesday, 28th July 2026
• by Sarah Samir

QatarEnergy has informed Edison (EDNn.MI), one of its largest European clients, that it will be unable to supply three liquefied natural gas (LNG) cargoes, extending its force majeure declaration through the end of September..