Indian multinational L&T Energy Hydrocarbon Offshore (LTEH Offshore) has secured an ultra mega order from ADNOC Offshore for a major project in the Middle East.
Saudi Energy Company posted a 10.5% year on year (YoY) growth in H1 revenue to SAR52.2 billion ($13.94 billion), EBITDA rose by 8.2% to SAR21.5 billion, and net profit increased by 7.5% to SAR6.7 billion.
Saudi Aramco reported a strong financial performance for the first half of 2026, posting adjusted net income of $67.2 billion, as the world's largest oil producer maintained crude supplies despite unprecedented disruptions to shipping through the Strait of Hormuz.
Oil prices recovered on Tuesday after suffering their steepest one-day decline in weeks, as persistent concerns over potential supply disruptions in the Middle East outweighed optimism that diplomatic efforts could quickly end the five-month-old conflict between the United States and Iran.
TotalEnergies has unveiled two major European renewable energy transactions, acquiring Shell’s 4 GW renewables portfolio and selling a 50 per cent stake in a €1.8 billion ($2 billion) asset portfolio to KKR as part of its Integrated Power strategy.
Worley, a professional services company serving the energy, chemicals and resources sectors, has secured a framework agreement with Inpex Operations Australia to provide engineering services for Australian projects, strengthening a decade-long partnership.
bp has completed the sale of Gelsenkirchen refinery and related businesses to Klesch Group. The transaction supports bp’s continued focus on disciplined capital allocation and is also expected to lower underlying operating expenditure by around $1 billion.
Oil prices fell sharply on Monday after US President Donald Trump suspended plans for military strikes against Iran and announced that negotiations with Tehran would resume, raising hopes of reducing the risk of disruptions to global crude supplies.
Kuwait Oil Company (KOC) said it has awarded 129 contracts worth about KD2.2 billion ($7.2 billion) during the first half of 2026 as it stepped up investments to expand oil production capacity, strengthen drilling and exploration activities as well as modernise oilfield infrastructure.
Opec+ members have agreed to increase oil production by a combined 188,000 barrels per day in September 2026, as part of the gradual easing of voluntary output cuts introduced in April 2023 to support market stability.
