Production & Industry news

• Oil Drops Most Since 2022 on Hormuz Chaos

  10-03-2026 21:11 via rigzone.com
  Oil prices plunged after conflicting US signals about tanker escorts through the Strait of Hormuz rattled markets.
  
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• Aramco CEO Warns of Oil Market Catastrophe in Prolonged War

  10-03-2026 21:00 via rigzone.com
  Saudi Aramco's chief executive officer warned the impact on global oil markets will be 'catastrophic' the longer the disruption from the Iran war drags on.
  
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• DOI Moves to 'Cut Red Tape' for Offshore Oil, Gas

  10-03-2026 16:31 via rigzone.com
  'For too long, Washington red tape has strangled American energy producers and held back small businesses', Interior Secretary Doug Burgum said.
  
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• Gulf Oil Giants Deepen Cuts

  10-03-2026 16:00 via rigzone.com
  Oil supply cuts in the Middle East are deepening.
  
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• Woodside, Pemex Start Drilling for Trion Development Project

  10-03-2026 14:40 via rigzone.com
  Targeted to be put into production 2028, the $7.2-billion 'ultra-deepwater' project includes a floating production unit with an output capacity of 100,000 barrels a day.
  
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• Market Spinning After 'Most Epic Price Reversal in Oil History'

  10-03-2026 12:02 via rigzone.com
  The market is spinning after the most epic price reversal in oil history, Phil Flynn, a senior market analyst at the PRICE Futures Group, told Rigzone on Tuesday.
  
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• Trump Teases Early End to Iran War

  10-03-2026 09:43 via rigzone.com
  Trump said the U.S. and Israel were making significant progress in their war on Iran and could end the conflict 'very soon,' curtailing an oil-price surge.
  
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• Oil Slides Late After Massive Price Swings

  09-03-2026 21:27 via rigzone.com
  Oil swung wildly Monday as fears over the Strait of Hormuz collided with signals the US-Iran conflict may soon wind down.
  
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• Iran Names New Supreme Leader as Trump Downplays Oil Spike

  09-03-2026 16:14 via rigzone.com
  Iran named the son of the late Ayatollah Ali Khamenei as its new supreme leader and President Donald Trump called $100 oil a 'small price to pay'.
  
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• Saudi Arabia Starts Oil Cuts

  09-03-2026 15:00 via rigzone.com
  Saudi Arabia has started reducing oil production as the crucial Strait of Hormuz chokepoint remains at a near-standstill.
  
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• Santos Greenlights Cooper Basin Infrastructure Upgrade

  09-03-2026 14:22 via rigzone.com
  The project will replace seven aging gas-run compressor stations with one electric compressor station to 'debottleneck upstream infrastructure and unlock future production growth' from the Central Fields.
  
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• Resource Estimates for Chevron's Aphrodite Raised

  09-03-2026 13:14 via rigzone.com
  The best estimate of contingent gas resources on Cyprus' side of the field, located on the maritime border with Israel, has increased about 4 percent to 3.67 Tcf, according to a commissioned assessment.
  
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• Attention Shifting to Kharg Island

  09-03-2026 13:03 via rigzone.com
  'The island has evolved into the backbone of Iran's export system', J.P. Morgan analysts stated.
  
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• Analyst Flags 'Incredible' Oil Price Moves

  09-03-2026 10:23 via rigzone.com
  'These are just incredible moves', Aaron Hill, Chief Market Analyst at FP Markets, said.
  
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• Monumental Starts Up First Project under New Partnership with NZEC

  08-03-2026 01:00 via rigzone.com
  The Ngaere-1 well in the Waihapa-Ngaere area of the Taranaki basin onshore New Zealand reached initial production, Monumental said, taking the results as encouragement to proceed with entry into additional wells in the area.
  
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• Crude Closes Near $91 After Historic Rally

  06-03-2026 22:20 via rigzone.com
  WTI jumped 12% Friday as disrupted shipping and supply fears pushed crude toward $100 a barrel.
  
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• Analyst Explains Friday's Oil Price Rise

  06-03-2026 16:56 via rigzone.com
  Rigzone talks to Rebecca Babin, a senior equity trader for CIBC Private Wealth in New York.
  
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• JMIC Says Strait of Hormuz Shipping is at Near Total Halt

  06-03-2026 15:30 via rigzone.com
  Maritime traffic in the Strait of Hormuz has ground to a near-complete halt, with no oil shipments going through in the past 24 hours.
  
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• War Sees Energy Exporters Scramble for Routes Out of Gulf

  06-03-2026 15:23 via rigzone.com
  The widening conflict in the Middle East is stoking fears over a global energy crunch.
  
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• Analysts See 'Significant Yet Short Lived' Oil Price Rallies

  06-03-2026 13:22 via rigzone.com
  Analysts at BMI, a Fitch Solutions company, revealed that they expect 'significant yet short lived rallies in oil and gas prices'.
  
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• Chevron Inks 5-Year Deal to Supply Aussie Gas to Horizon Power

  06-03-2026 13:21 via rigzone.com
  Chevron signed an agreement to supply about 14 petajoules of locally produced natural gas over five years to Horizon Power, a power utility serving Western Australia.
  
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• UK Oil, Gas Industry Meets with Chancellor

  06-03-2026 11:21 via rigzone.com
  'At a time of huge global uncertainty, the UK should be making decisions for the long term in the interests of energy security', OEUK CEO David Whitehouse said.
  
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• Oil Settles Near 20-Month High

  05-03-2026 23:04 via rigzone.com
  Oil prices surged to their highest levels in nearly two years as the Middle East conflict threatens global energy flows.
  
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• Maritime Groups Comment on Middle East Situation

  05-03-2026 16:35 via rigzone.com
  INTERTANKO and OCIMF have issued a joint statement on the situation in the Middle East.
  
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• Saudi Arabia Races to Reroute Oil

  05-03-2026 15:46 via rigzone.com
  Saudi Arabia is diverting millions of barrels of oil to its Red Sea ports.
  
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• JP Morgan Warns DFC Insurance Cap is Too Small for the Risk

  05-03-2026 13:26 via rigzone.com
  J.P. Morgan analysts highlighted that 'to reopen the Strait, President Trump announced on Tuesday that the U.S. will escort and insure all commercial vessels transiting Hormuz, leveraging the DFC'.
  
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• Are We Heading for an All-Out War in the Middle East?

  05-03-2026 12:28 via rigzone.com
  Rigzone talks to Benjamin Zycher, a Senior Fellow at the American Enterprise Institute, and Doug Bandow, a Senior Fellow at the Cato Institute.
  
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• EU Sees No Energy Supply Concern from Mideast War for Now

  05-03-2026 11:12 via rigzone.com
  The EU does not expect immediate impact from the fresh Middle East conflict on the security of oil and gas supply in the bloc, even amid a stoppage of flows from the Druzhba oil pipeline.
  
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• Crude Volatile as Hormuz Risks Increase

  04-03-2026 21:54 via rigzone.com
  Oil fluctuated as the Iran war disrupts Gulf energy flows and threatens global supply routes.
  
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• North America Drops 11 Rigs WoW

  04-03-2026 16:26 via rigzone.com
  North America dropped 11 rigs week on week, according to Baker Hughes' latest North America rotary rig count.
  
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• Russian Oil Remains Cheap

  04-03-2026 15:55 via rigzone.com
  Russia's flagship crude blend is still trading at deep discounts despite a global oil rally.
  
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• Analyst Outlines 2 Potential Scenarios for Conflict

  04-03-2026 11:27 via rigzone.com
  Oil prices rise in both scenarios.
  
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• Equinor Reaches Deal with Canadian Province to Advance Bay du Nord

  04-03-2026 10:57 via rigzone.com
  'Project sanction is targeted for 2027, with first oil expected in 2031'.
  
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• Oil Rally Pauses After Trump Pledge

  03-03-2026 22:13 via rigzone.com
  Brent jumped 11% in two days before Trump's escort pledge cooled the rally.
  
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• UAE Reports Major Fire at Fujairah Oil Hub

  03-03-2026 19:00 via rigzone.com
  Falling debris from an intercepted drone caused a major fire at the United Arab Emirates oil trading hub of Fujairah.
  
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• Oil is Iran's Weapon of Choice

  03-03-2026 16:34 via rigzone.com
  'Oil is Iran's weapon of choice, and the U.S. gasoline pump is part of the battlefield', SEB Chief Commodities Analyst Bjarne Schieldrop warned.
  
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• UK, Texas Industry Bodies Comment on Middle East Conflict

  03-03-2026 13:08 via rigzone.com
  OEUK and TXOGA have both issued statements on the ongoing conflict in the Middle East.
  
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• Analysts Warn of Largest Oil Supply Disruption in History

  03-03-2026 11:45 via rigzone.com
  The war between the United States and Israel against Iran has the potential to be the largest oil supply disruption in history, S&P Global has warned.
  
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• Chevron Completes Third Gathering Pipeline for Israel's Leviathan

  03-03-2026 10:21 via rigzone.com
  The project has raised Leviathan's gas production capacity to about 494 billion cubic feet a year.
  
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• Crude Jumps on Iran War Escalation

  02-03-2026 22:52 via rigzone.com
  Oil prices surged as conflict disrupted Hormuz shipping and refinery operations.
  
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• Seplat Expects 10 Percent Increase in Annual Output

  02-03-2026 16:18 via rigzone.com
  'We benefitted from successful execution of several key offshore activities that kick-started life for Seplat as an offshore operator, while at the same time delivering onshore production performance that was the strongest in recent memory'.
  
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• Hopes for Suez Canal Revival Dashed

  02-03-2026 14:30 via rigzone.com
  Shippers are once again avoiding the Suez Canal as the U.S. and Israel are locked in a war with Iran.
  
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• OPEC+ Decides to Boost Production

  02-03-2026 13:15 via rigzone.com
  'There is ... a risk that the OPEC+ decision is moot', Alan Gelder, SVP of Refining, Chemicals and Oil Markets at Wood Mackenzie, said.
  
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• Israel Pauses Leviathan Gas Production

  02-03-2026 12:19 via rigzone.com
  Chevron declared force majeure at the Leviathan natural gas and condensate field offshore Israel on the order of the government.
  
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• Oil Could Pass $100 as Strait of Hormuz Traffic Halts

  02-03-2026 10:51 via rigzone.com
  Higher oil and gas prices are certain, Wood Mackenzie said.
  
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• Saudis Pulled Deeper into War after Strike around Key Refinery

  02-03-2026 09:56 via rigzone.com
  An area housing Saudi Arabia's largest oil refinery was hit by a drone strike, according to people familiar with the matter.
  
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• Tankers Halt Near Hormuz After Attacks

  28-02-2026 19:47 via rigzone.com
  Tankers are avoiding the Strait of Hormuz after joint US and Israeli strikes on Iran, with some vessels halting or reversing course amid warnings the waterway may be unsafe.
  
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• Crude Jumps as Iran Risks Mount

  27-02-2026 22:40 via rigzone.com
  Oil prices surged as traders weighed escalating US-Iran tensions and strike risks.
  
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• Tanker Carrying Russian Oil Diverts From Cuba

  27-02-2026 15:32 via rigzone.com
  A tanker believed to be carrying Russian oil to fuel-starved Cuba diverted away.
  
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• Oil Market Is Nervous for the Coming Weekend

  27-02-2026 12:37 via rigzone.com
  'The market is getting nervous for what might happen during the weekend', SEB analysts warned.
  
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