News

Daily news and original analysis on the Cyprus and Eastern Mediterranean oil & gas sector.

OilPrice·Jul 6·1 min read

Big Oil Heads for Record Profits as Trump Turns Up the Heat on Gas Prices

A dramatic surge in crude oil prices, driven by geopolitical friction and the temporary closure of the critical Strait of Hormuz shipping chokepoint, has positioned US supermajors for historic second-

Shell And ExxonMobil Are Betting Billions On Nigeria's Deepwater Comeback

Nigeria is undergoing a structural overhaul of its energy sector, shifting its focus from troubled onshore assets to high-yield deepwater projects while scaling

OilPrice.com·Jul 6·ExxonMobilShell plc

Saudi Arabia Ships 34 Million Barrels Through Hormuz Despite Thin Tanker Traffic

Despite a significant drop in visible vessel traffic through the Strait of Hormuz, Saudi Arabia has successfully moved approximately 34 million barrels of crude

OilPrice·Jul 6

Saudi Price Cut Sends Oil Lower

Saudi Arabia's decision to aggressively slash the official selling price (OSP) for its Arab Light crude to Asia has triggered a sharp sell-off, dragging global

Rigzone·Jul 6

Russia Oil Price Falls to Pre-Iran War Level

The price of Russia's flagship Urals crude has retreated to levels observed prior to the recent escalation of hostilities between Israel and Iran, erasing the g

Rigzone·Jul 6
Jul 6

North America Drove Nearly Half Of Global Emissions Growth In 2025

Jul 6

UAE Oil Production Nears Record High After OPEC Exit

Jul 6

Russia’s Oil Windfall Vanishes as Urals Crashes to $42 a Barrel

Jul 6

Europe versus China: who is ready to take over the Southeast Asian power industry?

Jul 6

Ukraine Hits Russia's Biggest Refinery

Jul 6

Which Country is the World's Biggest Energy Supplier?

Jul 6

Elixir Energy’s Lorelle-3H begins transition to gas production

Jul 6

Who Are the Most Prolific Private Oil, Gas Producers in USA?

Jul 6

Chinese player picks up FPSO job for Eni’s African oil & gas project

Jul 6

Germany Weathers Energy Crisis With Growing Dependence on American LNG