ExxonMobil and its partners will invest $1 billion in the Usan Infill Project offshore Nigeria, a development expected to add about 40,000 barrels per day (bbl/d) of crude oil production, ExxonMobil Nigeria Managing Director Jagir Baxi confirmed the investment commitment during an industry conference in Abuja.
Algeria's state-owned energy company Sonatrach has exported its first liquefied natural gas (LNG) cargo to Germany, according to the company’s release on July 8.
The United States reimposed sanctions on Iranian oil on July 7th, with a US official warning that Tehran’s attacks on vessels transiting the Strait of Hormuz were wholly unacceptable and would draw consequences.
China has removed restrictions on refined fuel exports for the remainder of July, allowing private refiner Zhejiang Petrochemical Co. to resume overseas shipments following over a four-month halt, according to Reuters.
Saudi Arabia is in preliminary discussions to expand the capacity of its East-West crude oil pipeline by up to 2 million barrels per day (bbl/d), according to Reuters. The proposed expansion aims to enable the kingdom and neighboring Gulf states to transport higher volumes of crude oil and refined products directly to the western Red Sea coast, completely bypassing the blockaded Strait of Hormuz.
Baker Hughes, a leading energy technology company, announced that it has secured multiple contracts from India's Oil and Natural Gas Corporation Limited (ONGC) to deliver advanced wireline services aimed at enhancing reservoir understanding, optimizing production, and supporting more efficient field development across India’s offshore and onshore oil and gas assets. The awards were finalized during the second quarter of 2026.
The UAE increased crude oil production to more than 3.8 MMbbl/d in June, its highest level since April 2020, after leaving OPEC and OPEC+ production quotas, signaling a rapid supply recovery as global markets shift their focus from disruption risks to potential oversupply.
QatarEnergy has cut its scheduled LNG deliveries to Bangladesh by half this year due to ongoing disruptions to shipments through the Strait of Hormuz, prompting Bangladesh to seek alternative supply sources while Qatar works to maintain deliveries where possible.
Abu Dhabi National Oil Company (ADNOC) has signed a 15-year Sales and Purchase Agreement (SPA) with Japan's largest exploration and production company, INPEX Corporation, to supply 1 million tons per annum (mtpa) of liquefied natural gas (LNG) from its Ruwais LNG project.
Abu Dhabi National Oil Company (ADNOC)Â launched a global liquefied natural gas (LNG) marketing and trading platform at Abu Dhabi Global Market (ADGM), integrating the marketing operations of ADNOC Gas and XRG with the trading expertise of ADNOC Trading into a unified commercial hub..
