Fiserv and service station operators, including BP, warn US stores about illegal vapes
Fiserv, a payments platform, and operators of service stations including BP have 'warned' their U.S. counterparts and store owners to not?deal with illegal vapes - or risk heavy fines. According to estimates, a coalition of state and city law enforcement officials in the U.S. are putting pressure on shippers, payment networks and e-commerce platforms to crack down on an illegal vape market worth up to $9 billion in sales annually. Shopify has banned vapes in recent weeks after a 'crackdown' that was backed by the attorneys general of states such as California, Illinois, and Arizona, and authorities from New York City, the District of Columbia, and Puerto Rico.
Baker Hughes reports that US energy companies have added rigs to their fleets for the third consecutive week.
Baker Hughes, a provider of energy services, said that U.S. firms?added drilling rigs this week for the third consecutive week. The number of oil and gas rigs, a good indicator of future production, increased by 7 in the week ending July 2. This is its highest level since May 2025. Baker Hughes published the rig counts report one day earlier than normal due to the U.S. The 4th of July holiday is celebrated on Friday, 3rd July. Baker Hughes reported that 'this week, the increase brings the total rig counts up by 41 rigs or 7.6% over a year ago. Baker Hughes reported that oil rigs increased by five this week to 445, a record high since the end of May 2025.
Cumberland Farms files US IPO in a market that is booming for new listings
Cumberland Farms, a convenience?store retailer in the United States, filed for an initial 'public offering (IPO) on Thursday. This is adding to a busy stock market summer as favorable market conditions have swelled a swollen IPO pipeline. After nearly three years in which the U.S. IPO Market was subdued, due to higher interest rates and market volatility, many companies stayed away from the market. In 2026 the market is expected to recover, with companies of all sectors returning. Cumberland Farms, known for its coffee, snacks, and fuel, operates in densely populated areas, such as Pennsylvania, Ohio Colorado, and Florida.
Norway offshore workers and employers enter mediation to avoid strike
Norwegian unions representing workers on offshore drilling rigs and floating platforms entered wage negotiations with the state on Wednesday. They hoped to avoid a strike that was scheduled for Friday, which could have affected a part of Norway's oil and natural gas industry. Styrke Safe and DSO have all said that more than 600 workers could walk out at first, with the potential for an escalation. The wage agreement is for about 7,500 employees in total. The first strike will affect the Encourage rig of Transocean, Odfjell Technology's Linus platform, AKOFS Seafarer, and Equinor Gullfaks.
Norway offshore workers and employers enter mediation to avoid strike
On Wednesday, Norwegian unions representing offshore drilling platform and 'floating platform' workers began wage negotiations mediated by the state. The aim was to avoid a strike that would have taken place on?Friday and could affect parts of?the oil and gas industry in Norway. Styrke Safe and DSO have all said that more than 600 workers could walk out at first, with a possibility of an escalation. The wage agreement is for?roughly 7,500 workers. The first targets of any strike are Transocean’s Encourage platform, Odfjell Technology’s Linus rig and the AKOFS Seafarer vessel.
BP announces that Carol Howle, deputy CEO and head of trading at BP, will retire.
BP announced on Tuesday that its deputy CEO and chief trading officer Carol Howle would retire. This announcement was part of a broader leadership reshuffle, which has already seen a new CEO named and the 'chairman' removed in the past few months. The company announced that Sam Skerry will replace Howle, who led BP's mergers & acquisitions business from 2022 to 2022. These changes are a result of the appointment in April of Meg O'Neill, former Woodside Energy CEO as BP Chief Executive after Murray Auchincloss resigned. In May, the board removed Chairman Albert Manifold over governance and conduct issues. He disputes this.
Sources: Oil rig explosion in Venezuela causes at least 17 injuries to workers
Three sources said on Monday that an explosion occurred late Sunday at a rig operated by the state-owned?oil 'company PDVSA, in Venezuela's central region of Los Llanos. At least 17 workers were injured, two of whom suffered severe burns. Accident occurred on PDVSA’s Colven '02 rig located in Apure state. According to sources, some of the injured workers were taken to Colombia for medical attention, and others to the nearby town of Guasdualito. Photos and videos on social media showed tall yellow flames with a plume black smoke. PDVSA has a deteriorating infrastructure that is prone to incidents, such as fires and outages that affect oil production and refinery operations.
Australian energy firms increase their exploration
Australia is the No.2 liquefied natural gas producer in the world. This increase is due to domestic gas demand, a more favourable investment climate and improving technology. Australia, the world's No. Geoscience Australia has provided a summary of drilling activity, including estimates of contingent resources as of October 20, 2025, except where otherwise noted. The Beetaloo Sub-basin lies in the Northern Territory around 500 km (310 mi) south of Darwin. The Northern Territory Government estimates that the gas reserves are over 7 trillion cubic foot (Tcf). Santos plans to drill up to 12 appraisal wells within the sub-basin in this and the next year.
Baker Hughes reports that US energy companies have added the most rigs per week in a row since June 2022.
Baker Hughes, an energy services company, said in its report on Friday that the U.S. energy companies?had experienced their largest weekly increase of rigs since June 2022. The number of oil and gas rigs, a good indicator of future production, increased by 10 during the week ending June 26. This is the biggest weekly increase in the last four years. Total rig count reached 573, its highest level since May 2025. Baker Hughes said this week's rise in rig counts puts the total up by 26 rigs or 5% over this time last. Oil rigs rose by seven this week to 440, the highest level since June 2025. Gas rigs increased by?three, to 125. Other miscellaneous drilling rigs remained at eight.
Chevron to continue securing deals for US data centers
Chevron has been negotiating additional data-center deals in the U.S. including the Midwest, Rockies and Gulf Coast following its two-decade contract to power a Microsoft Data Center in West Texas. Chevron, Exxon Mobil and other oil and gas companies are looking to capitalize on the unprecedented electricity demand created by Big Tech’s AI-driven expansion of data centers. They offer their natural gas as well as experience in developing large-scale and complex energy projects. Chevron announced on Monday that it had signed an agreement for the development of a natural-gas-fired facility called Project Kilby.
BP signs a concession agreement with ADNOC and partners for Bab Gas Cap Project
BP announced on Thursday that it had'signed a concession -agreement' with ADNOC and partners for the development of the Bab Gas Cap Project in the UAE. BP will take a 10% share, marking its first access to Abu Dhabi upstream gas resources. The project will consist of three?reservoirs within the Bab Field onshore and is expected to produce up to 1,5 billion cubic feet per day. BP says that the project will help meet UAE gas and feedstock needs, as well ADNOC's plans to expand liquefied gas exports. ADNOC owns 60% of the concession. Other partners, including TotalEnergies CNPC, INPEX China ZhenHua Oil, and GS Energy, will hold the remaining 40%.
Executive says TotalEnergies will begin drilling in Suriname in the next year
The vice president of exploration for the Americas at TotalEnergies, a French energy producer, said that the company expects to start a new drilling campaign in Suriname next year in order to expand its exploration targets. TotalEnergies’ largest project in?Suriname is the $10.5 billion Gran Morgu off-shore project. It is expected to start oil production in 2028. This is a major milestone for the small South American country, as all crude is produced onshore. Daniel Larranaga, at an energy event in Paramaribo's capital, said that the company would "start a multiwell campaign" next year if rigs are available.
Azule Energy approves $5.1 billion offshore Angola project
Azule Energy - a 'joint venture' between BP, Eni and?Their partners - has approved the $5.1 Billion Greater PAJ offshore oil projects in Angola. This was announced by company and government officials at a Monday signing ceremony. The project is Angola’s first integrated cross block development. Partners include Norway’s Equinor and Angola’s oil and Gas agency ANPG, as well as the state-owned company Sonangol. Azule is the company that operates this development. This investment is the latest in a series of expansions by Azule, Angola’s largest independent oil and gas producer.
Norway Oil Service Firms Threaten Lockout to End Strike
Offshore Norway announced on Monday that it would lock out the Safe Labour?union?oil service employees?from 27th June?in response to a strike going on over wages. In a press release, the group representing oil service companies stated that the lockout would impact 1,272 members of Safe out of the roughly 1,770 covered under the wage agreement. However, some workers will be exempted to maintain safety critical subsea emergencies preparedness. A spokesperson for the group said that the lockout would 'further delay drilling operations, already affected by strike. At least two rigs have halted their work.
Petrobras will resume construction at Tres Lagoas Fertilizer Plant by September
Petrobras, the state-owned 'oil' company in Brazil, plans to restart construction of a fertilizer plant in Mato Grosso do Sul by September. This is part of an effort to reduce 'the country's dependency on imports', said William 'Franca on Thursday. The construction of Tres Lagoas' UFN-III Fertilizer Plant, which is expected to cost $1 billion, has been put on hold since 2015. Franca, Petrobras director of industrial process and products, said that the company plans to start operations in 2029. The nitrogen fertilizer plant will be able to produce 3,600 tons of urea per day and 2,200 tons of ammonia per day.
Baker Hughes says US energy companies have added rigs eight times in nine weeks.
Baker Hughes, a widely followed energy services company, said Thursday that U.S. firms added rigs this week for the eighth time in nine weeks. The oil and gas rig count rose to 563, its highest level since early June, in the week ending June 18. Baker Hughes released its report one day earlier than usual due to the "U.S. The Juneteenth holiday falls on Friday. Baker Hughes reported that the total rig count had increased by nine rigs or 2% over this time last week. Baker Hughes said that oil rigs remained at 433 in this week. Gas rigs increased by one to 122, the highest level since early June. Other miscellaneous rigs remained at eight.
China taps deep shale deposits in Sichuan to boost its gas production
Sinopec experts and industry consultants say that China is increasing gas drilling in deeper, more ancient shale deposits of the Sichuan Basin, which could increase domestic production by over a third before 2035. State oil giants, whose shale-gas output is below government targets, and only 10% of China's gas production, are working to stop the slowdown by drilling 5,000 meters (16,400 feet) deep. Sinopec, the state oil giant, announced last month that it had discovered 236 billion cubic meters (bcm), or proven gas reserves in the Ziyang Dongfeng Project located 4,500 metres below the surface. This is a major breakthrough for ultra-deep shale.
Equinor abandons target for renewable energy
In a Tuesday strategy update, the Norwegian oil and natural gas company Equinor announced that it had 'further reduced its ambitions in renewable energy,' dropping a target of 2030 installed capacity and cutting investment plans. This reflects a trend in the industry, as other companies, such as BP and Shell have recently abandoned plans to switch from oil and natural gas production to renewable energy. Equinor, who?on Monday raised its oil-and-gas output forecast?, has dropped the 2030 renewable capacity goal in favor of an outlook on power generation that includes nonrenewable technologies. "We do not replace one business with another.
Equinor abandons target for renewable energy
In a Tuesday strategy update, Equinor, the Norwegian oil and gas group, announced that it had further'scaled back' its renewable energy ambitions. It has dropped a 2030 target for installed capacity and cut investment. This change reflects a broader industry trend. In recent years, peers like BP and Shell have abandoned ambitions to transition from oil and natural gas production towards renewable energy. Equinor has dropped its 2030 renewable energy goal and instead provided a 'power generation outlook, including non-renewable technologies for electricity production. "We do not replace one business with another.
Trump's controversial plan to price minerals is met with skepticism from the G7 and a divided industry
According to diplomatic sources, and an analysis of corporate policies, the Trump administration's plan to increase critical?minerals by regulating prices has been met with skepticism from G7 allies, and a divided industry. Negotiations for a Western Trading bloc have stalled over concerns regarding cost and governance. The trading bloc was first proposed by U.S. vice president JD Vance back in February. It aims to wean the West off China which has become the world's biggest minerals producer through operating at a deficit and dampening the prices of the?building block for semiconductors, computers servers, military equipment, and a myriad of other products.
