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What Are Iran And Russia Really Up To In The Caspian Sea?

OilPrice

Iran is making “good progress” on its first concerted oil drilling operation in the Caspian Sea in 30 years, a senior energy source who works closely with the Islamic Republic’s Petroleum Ministry exclusively told OilPrice.com over the weekend.

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DoE Hands the Keys to Strategic Crude Oil Stockpile to New Firm

OilPrice

billion contract to Strategic Storage Partners, LLChardly a household nameto manage the Strategic Petroleum Reserve (SPR)Americas emergency stash of crude oil. After a transition period, Strategic Storage Partners will take over from the current SPR management firm, Fluor Federal Petroleum Operations (FFPO) on June 15, 2025.

Crude Oil 364
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Khalda Petroleum to Bring 2 New Wells Online This June

Egypt Oil & Gas

Khalda Petroleum, a joint venture (JV) between the Egyptian General Petroleum Corporation (EGPC) and Apache Corporation, is bringing two new wells into production in June 2025, with an initial estimated total of 5,400 barrels of crude oil per day (bbl/d). Khalda completed drilling operations for the Fox Deep-02 appraisal well.

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South Africa launches new national petroleum company

Oil & Gas 360º

(World Oil) – South Africa has officially established its new state-owned oil corporationSouth African National Petroleum Company (SANPC). The establishment of the SANPC aligns with broader goals by the South African government to create a more competitive and investment-friendly petroleum sector.

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U.S. crude oil inventories decrease by 3.6 million barrels

Oil & Gas 360º

commercial crude oil inventories ( excluding those in the Strategic Petroleum Reserve ) decreased by 3.6 crude oil inventories are 8% below the five-year average for this time of year, according to the EIA crude oil and petroleum weekly storage data, reporting inventories as of June 6, 2025. million barrels from the previous week.

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PowerTap, Andretti Group Partner to Expand Hydrogen Fueling Network

NGT News

says PowerTap Hydrogen Fueling, its investee company, has executed a definitive agreement with Humboldt Petroleum Inc., Peninsula Petroleum LLC and Colvin Oil I LLC (collectively, the Andretti Group) to install PowerTap’s modular hydrogen fueling stations this year. Clean Power Capital Corp. – […].

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South Africa Launches Oil Giant to Revive Energy Sector

OilPrice

South Africa has officially launched the South African National Petroleum Company (SANPC), a new state-owned oil enterprise designed to consolidate and energize the countrys long-stalled hydrocarbons sector. Reducing oil imports, bolstering energy security, and tapping into over R95 billion in potential investment.

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