Iraq has approved a targeted bidding process for its $4.6 billion Basra–Haditha oil pipeline, a major project aimed at expanding export routes and strengthening crude transport capacity.
A subsidiary of Enbridge has received a U.S. presidential permit to construct and operate a cross-border crude pipeline segment in North Dakota, enabling transport between the U.S. and Canada.
A California court has ruled that Sable Offshore cannot restart its pipeline without state approval, reinforcing state authority over the project despite federal intervention.
The Iran war has removed more than 500 million barrels of oil from global supply, disrupting flows and delaying recovery across key energy infrastructure.
The U.S. oil and gas rig count fell for a second consecutive week, according to Baker Hughes, signaling a continued slowdown in drilling activity.
The Strait of Hormuz has reopened to commercial shipping following a ceasefire, allowing oil and LNG flows to resume. However, supply recovery is expected to take weeks, with risks remaining amid ongoing geopolitical tensions and a continued U.S. military presence.
The U.S. has issued multiple permits for cross-border oil pipelines with Canada, including approval for new Bakken Pipeline facilities in North Dakota and continued operations for Enbridge systems.
Kazakhstan increased oil exports in Q1, with shipments to Germany rising sharply alongside higher volumes on CPC and BTC pipelines. The gains highlight steady growth in Caspian export flows to Europe.
Ukraine expects the Druzhba oil pipeline to resume operations by the end of April following recent disruptions, President Volodymyr Zelenskiy said. The outage has affected regional crude flows and contributed to tensions between Ukraine and Hungary over EU financial support.
Saudi Arabia has restored full 7 million bpd capacity on its East-West crude pipeline following attack-related disruptions during the Iran conflict. The pipeline, a key export route bypassing the Strait of Hormuz, resumed operations after damage temporarily reduced throughput and oil production capacity.
Chevron and Shell are expected to sign new agreements in Venezuela covering offshore gas and heavy crude assets, including the Loran gas field and Orinoco Belt projects. The deals could expand foreign participation in Venezuela’s energy sector and support regional gas and crude development.
Venezuela’s delay in releasing new oil contract terms is slowing investment decisions, as companies await clarity on production-sharing agreements and tax rules.
Rising tensions in the Strait of Hormuz are disrupting global energy flows, prompting Japan to release emergency oil reserves as supply risks escalate.
Attacks on Saudi energy infrastructure have cut oil output and reduced flows through the East-West pipeline, raising concerns about supply disruptions and global market stability.
Tanker demand is surging as the Strait of Hormuz prepares to reopen following a U.S.-Iran ceasefire, with shipping rates spiking and Middle East crude flows to Asia set to resume amid lingering risks.
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