Latest news and articles about oil and gas from NEX English
Indonesia and South Korea have signed a memorandum of understanding to enhance cooperation in maritime facility services, aiming to strengthen their partnership in the oil and gas sector. The agreement was signed during a bilateral meeting in Seoul, attended by the Indonesian President <strong>Joko Widodo</strong> and South Korean President <strong>Yoon Suk-yeol</strong> on April 1, 2026.
Three oil tankers belonging to a Turkish company have safely crossed the Hormuz Strait amid escalating tensions between the United States and Iran. The Turkish Minister of Transport emphasized the efforts made to ensure maritime safety.
Bahraini Foreign Minister Abdullatif bin Rashid Al Zayani announced that the UN Security Council will vote on a resolution concerning the Hormuz Strait on April 3, 2026. The resolution aims to enhance security in the region and prevent threats to international navigation.
State-owned oil and gas companies in China, such as <strong>Sinochem</strong> and <strong>PetroChina</strong>, are facing increasing pressures that lead them to postpone ambitious expansion plans. This comes amid challenges posed by volatile markets, raising questions about the future of energy security in the country.
BP has announced the departure of Martin Thomsen, head of electric vehicle charging, at a critical time before the arrival of the new CEO. This move reflects the company's strategic shift towards focusing on oil and gas activities.
Saka Indonesia announced the successful drilling of the UPA-17ST well in the Ojong Pankah field, producing <strong>2443 barrels per day</strong> of oil and <strong>3.72 million cubic feet</strong> of gas. This achievement strengthens the company's ability to meet national energy needs.
Kirill Dmitriev, head of the Russian Direct Investment Fund, revealed a long waiting line for Russian energy resources, reflecting the increasing global demand for these resources. This situation highlights the importance of Russian energy in meeting various countries' needs.
European Energy Commissioner, <strong>Dan Jørgensen</strong>, warned that the ongoing conflict in the Middle East could lead to long-term disruptions in the energy market, even if hostilities cease soon. This statement was made during a video conference of European energy ministers.
The European Union's Energy Commissioner, <strong>Dan Jørgensen</strong>, has warned that member states must prepare for long-term disruptions in energy markets due to the ongoing war in <strong>Iran</strong>. This comes as European gas prices have surged significantly.
Saudi company Adis Holding announced a notable increase of 2% in its net profit for 2025, reaching <strong>818 million riyals</strong> (approximately <strong>217.9 million dollars</strong>). The company also recorded an 8% rise in revenues, reflecting the success of its operational strategies.
Today marks the opening of the ninth edition of the International Energy Conference and Exhibition "EGYPS 2026" in Egypt, gathering key experts and decision-makers from the energy sector worldwide. The conference aims to enhance international cooperation and knowledge exchange in renewable energy, oil, and gas.
The energy industry is undergoing significant transformations due to global climate and economic changes. These shifts raise questions about the future of traditional and alternative energy sources.
The Trump administration is pursuing an exemption from the Endangered Species Act to protect oil and gas projects in the Gulf of Mexico. This decision comes amid growing environmental pressures and concerns about the impact of these projects on marine life.
A U.S. judge in Louisiana has denied a request to block a significant meeting that could lead to exempting drilling operations in the Gulf from the Endangered Species Act. This decision comes amid growing concerns about the environmental impacts of these activities on marine life.
The ongoing war in Iran has significantly impacted U.S.-China relations, leading to the postponement of a planned summit between President Trump and President Xi. Experts indicate that Beijing is struggling to balance its political ties with Iran and its economic energy needs from the Gulf.
Tensions are rising in the UK over energy policy, particularly regarding the exploitation of oil and gas in the North Sea. The British government faces increasing pressure to clarify its stance amid environmental and economic challenges.
Asian economies are facing increasing pressure due to the global energy crisis, with countries like India, Japan, South Korea, and the Philippines being the most affected. This impact is largely dependent on oil and gas imports that pass through the Strait of Hormuz, which is experiencing rising geopolitical tensions.
Political pressure is mounting in the UK regarding rising energy costs, with opposition leader Keir Starmer facing criticism from Kemi Badenoch for delaying oil and gas license approvals. This comes at a sensitive time as the country grapples with a worsening energy crisis.
Venezuela faces significant challenges in attracting oil and gas investments. Opposition leader Maria Corina Machado will address industry leaders at the Houston conference amidst ongoing political instability following the ousting of former President Nicolas Maduro.
Recent developments indicate that targeted attacks on oil and gas infrastructure in the region pose a direct threat to businesses and consumers worldwide, potentially exacerbating the economic crisis for months or even years.
TotalEnergies, a French energy company, has announced its withdrawal from solar energy projects in the oceans, opting instead to invest in oil and gas projects. The decision comes after US President Donald Trump unveiled new policies aimed at supporting the US oil and gas industry. The company plans to invest $928 million in oil and gas projects, producing 4 gigawatts of energy.
In a recent statement, the U.S. Energy Secretary minimized concerns regarding the impact of the ongoing conflict between the U.S., Israel, and Iran on energy markets. He emphasized that prices have not risen sufficiently to cause significant destruction in global demand.
The Strait of Hormuz has experienced a sharp decline in ship traffic due to escalating conflicts between Iran, the U.S., and Israel. Reports indicate that Iranian vessels constitute the majority of crossings in this vital maritime corridor.
The United States is facing significant challenges in oil and gas deals due to the ongoing rise in energy prices, complicating transaction valuations. These conditions have led to a state of hesitation within the global energy market.