Daily news and original analysis on the Cyprus and Eastern Mediterranean oil & gas sector.
The US oil and gas rig count has decreased, with the total number of active rigs falling to 545, a decrease of 38 rigs compared to the same period last year. This suggests a potential slowdown in dril
The Russian Black Sea port of Novorossiysk has resumed limited oil loadings following a drone attack that halted operations earlier in the week. Only one berth
Oil prices are experiencing their largest weekly drop since 2025 despite escalating tensions in the Middle East. The market's focus appears to be on the possibi
JP Morgan has warned that oil prices could surge to $120 per barrel if the disruption to vessel traffic through the Strait of Hormuz continues until July. This
Türkiye's Ministry of Energy and Natural Resources announced the arrival of a seventh-generation drillship in Somalia to begin offshore hydrocarbon exploration.