India takes a ‘huge hit’ on tax revenue to keep fuel prices from surging during the Iran war
India takes a huge tax revenue hit as it cuts fuel excise duties to shield consumers from soaring oil prices […]
Industry Reports
Industry research, market reports, trend analysis, and intelligence relevant to Permian Basin and energy markets.
Oil prices falls as Trump says Iran let 10 tankers through Hormuz as a ‘present’
Oil prices fell after Donald Trump said Iran had allowed 10 oil tankers to pass through the Strait of Hormuz.
Petrobras confirms oil discovery in mature Campos basin pre-salt play
Petrobras has confirmed a new pre-salt oil discovery in the Campos basin offshore Brazil, identifying high-quality hydrocarbons at the Marlim
Black Sea tanker carrying Russian oil damaged in suspected sea drone attack
A Turkish-operated tanker carrying roughly 1 MMbbl of Russian crude was damaged in a suspected sea-drone attack in the Black
B27 Intelligence, Energy M&A, Industry Reports
Serica completes TotalEnergies asset deal, establishes West of Shetland gas hub
Serica Energy has completed its acquisition of a 40% operated interest in TotalEnergies’ Greater Laggan Area assets, establishing a new
Iran boosts oil revenue as sole exporter via Strait of Hormuz
Iran is maintaining crude exports near 1.6 MMbpd and capturing stronger prices as disruptions in the Strait of Hormuz sideline
Trump says Iran let 10 oil ships through Strait of Hormuz as ‘present’ to U.S.
Trump said the U.S has “very substantial talks going on with respect to Iran,” though Tehran has denied direct talks
PETROBRAS makes oil discovery in Campos Basin pre-salt at Marlim Sul field
PETROBRAS identified the presence of excellent-quality oil in the pre-salt of the Campos Basin offshore Brazil, following the drilling of
JAPEX spuds offshore exploration well in Hidaka area
JAPEX started drilling an exploratory well offshore Hokkaido as part of a program to confirm the presence of natural gas
Sonadrill wins extension for Sonangol Quenguela drillship offshore Angola
Sonadrill, the joint venture between Seadrill and an affiliate of Sonangol, signed a contract extension for the ultra-deepwater drillship Sonangol
Foresea secures Petrobras contract for ODN I drillship offshore Brazil
Foresea was awarded a new contract by Petrobras to operate the ultra-deepwater drillship ODN I offshore Brazil, adding approximately $465
ReconAfrica begins production testing at Kavango West discovery in Namibia
ReconAfrica has commenced production testing at its Kavango West 1X discovery in Namibia, targeting multiple hydrocarbon zones as it advances
Vantage Drilling reports 2025 profit as offshore activity strengthens
Vantage Drilling’s return to profitability in 2025 reflects strengthening offshore fundamentals, with a previously awarded drillship contract adding to backlog
CNOOC boosts output, reserves as profits remain resilient in 2025
CNOOC reported record oil and gas production and reserves in 2025, supported by new discoveries, project startups and continued upstream
Petrobras confirms oil discovery in mature Campos basin pre-salt play
Petrobras has confirmed a new pre-salt oil discovery in the Campos Basin offshore Brazil, identifying high-quality hydrocarbons at the Marlim
Tenaris acquires AllTorque oilfield division to expand tubular running technology
Tenaris has acquired AllTorque’s oilfield division to expand its tubular running technology and rig floor services, enhancing well integrity, operational
How investors could benefit from Costco building its first standalone gas station
The added convenience and visible gas savings could “attract new members” to Costco and retain the ones it has, Jim
Interior’s Burgum sees U.S. energy agenda proceeding as planned
At CERAWeek, Interior Secretary Doug Burgum reinforced the Trump administration’s “energy dominance” agenda, emphasizing faster permitting, expanded domestic production and
Iran plans to charge ships for safe passage through Strait of Hormuz, report says
Officials in Tehran have drafted legislation to create a toll system where ships pay for safe passage through the waterway,
The oil market is in ‘backwardation’ — Here’s what that means for energy prices
Oil prices have been rocked by volatility since the U.S.-Iran war began.