Iraq is pushing aggressively to more than double its oil production capacity, targeting 8–10 million barrels per day (bpd) within six years—up from roughly 4 million bpd before the recent Iran-related regional conflict disrupted Strait of Hormuz shipping. On August 21, 2026, Prime Minister Ali al-Zaidi announced the goal at the Baghdad Dialog conference and […]
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“The Tale of Two UK Oil Companies” could be the title of an old book, movie, or play. But sadly, it is a real-life story of how a once great country is imposing a self-imposed death spiral of deindustrialization and financial collapse. The very same death spiral the Blue / Net Zero crowd in the […]
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In a significant move strengthening U.S. energy ties with Iraq, ConocoPhillips has agreed to acquire a 42% interest in BP Energy Company of Kirkuk Limited (BP ECKL), the contractor entity overseeing the redevelopment of major oil fields in northern Iraq’s Kirkuk region. BP will retain the remaining 58% majority stake. The deal, announced on July […]
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A viral post on X by Pascal Najadi (@JfkPascalNajadX) on May 19, 2026, has reignited discussion: “ MASSIVE DEVELOPMENT: At least 121 EMPTY OIL TANKERS are making their way to the United States of America right now. 68 of them can carry 2 MILLION BARRELS EACH. Holy smokes! We are the world’s gas station now! […]
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In a move signaling a renewed focus on its core oil and gas operations, BP announced on May 7, 2026, that it plans to sell portions of its equity stakes in two flagship UK carbon capture and storage (CCS) projects in Northern England. The decision comes as both projects—Net Zero Teesside (NZT) Power and the […]
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In a significant development for the UK’s energy sector, BP is conducting an internal strategic review that includes the possibility of a full or partial exit from its UK North Sea operations. The review, ordered by newly appointed CEO Meg O’Neill, is driven in large part by the UK government’s extended Energy Profits Levy (EPL) […]
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The Iran war that erupted on February 28 has sent oil prices surging past $100 per barrel amid disruptions in the Strait of Hormuz and Persian Gulf supply chains. While the broader energy sector has benefited from the geopolitical shock, not all Big Oil majors have performed equally. BP has emerged as the standout performer […]
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By Stuart Turley, Energy News Beat The second offshore oil and gas lease sale in the Gulf of America under President Trump\’s \”One Big Beautiful Bill Act\” (OBBBA) has wrapped up with significantly lower participation and bid volumes than anticipated. Dubbed \”Big Beautiful Gulf 2\” (BBG2), the auction held by the Bureau of Ocean Energy […]
Continue ReadingJack Prandelli of The Merchants News Substack stopped by, and we had a blast visiting about huge changes in the oil and gas markets. At the end of the podcast, we also discuss how we should restructure electricity prices for consumers. 1. China’s efforts to reduce its reliance on the US dollar: – China is […]
Continue ReadingIn a resilient performance amid volatile energy markets, ExxonMobil (XOM) reported fourth-quarter 2025 earnings that surpassed Wall Street estimates, driven by unprecedented production levels that mitigated the impact of declining oil prices. The company\’s focus on high-margin assets in the Permian Basin and Guyana underscored its operational strength, even as broader industry headwinds persisted. This […]
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