Oil Industry 11 February 2026 - 7 May 2026

BP PLC Deepens Oil Pivot With 40% Uzbekistan Stake as Shares Rise
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BP PLC Deepens Oil Pivot With 40% Uzbekistan Stake as Shares Rise

BP acquired a 40% stake in six oil and gas exploration blocks in Uzbekistan’s North Ustyurt region, marking its first upstream entry in the country. BP bought 20% each from SOCAR and Uzbekneftegaz, which now hold 30% apiece; SOCAR remains operator. The deal was signed in Tashkent during the Oil and Gas of Uzbekistan Conference. BP shares rose 0.5% to 550.50 pence in London trading Wednesday.
May 13, 2026
DNO Tawke Restart Stalls: Kurdistan Oil Output Still Shut as Genel and ShaMaran Feel Iran War Hit
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DNO Tawke Restart Stalls: Kurdistan Oil Output Still Shut as Genel and ShaMaran Feel Iran War Hit

DNO has restarted limited field work at the Tawke license in Iraqi Kurdistan, but oil production remains halted due to security concerns after U.S.-Israeli strikes on Iran. Genel Energy reported first-quarter Tawke output fell to 52,800 bpd, with its shares down 3.77% in London. DNO’s net profit for the quarter was $51 million, with North Sea output offsetting lower Kurdistan volumes.
May 7, 2026
UK Stock Market Today: FTSE 100 Is Closed, But Tuesday’s Oil Test Looks Bigger Now
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UK Stock Market Today: FTSE 100 Is Closed, But Tuesday’s Oil Test Looks Bigger Now

London’s stock market was closed Monday for the Early May Bank Holiday, with the FTSE 100 last finishing Friday down 0.1% at 10,363.93. Brent crude surged over 5% to $113.92 a barrel after Iranian attacks in the Gulf, while European stocks fell sharply. The pan-European STOXX 600 dropped 1%, its biggest one-day fall in a month. Wall Street also traded lower as oil prices climbed and rate cut expectations faded.
May 4, 2026
UK Stock Market Today: FTSE 100 Closed for Easter Monday as Oil, Iran Talks Set Up Tuesday Test
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UK Stock Market Today: FTSE 100 Closed for Easter Monday as Oil, Iran Talks Set Up Tuesday Test

London’s stock market remained closed for Easter Monday, with the FTSE 100 last at 10,436.29. Cash trading resumes at 0800 BST Tuesday. Brent crude hovered near $109 after Iran rejected a temporary ceasefire proposal, keeping energy markets volatile. Bank of England Governor Andrew Bailey warned markets may be overestimating the pace of rate hikes.
April 6, 2026
BP PLC Faces Crucial Week as Oil Rally Boosts Outlook Before Meg O’Neill Takes Charge
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BP PLC Faces Crucial Week as Oil Rally Boosts Outlook Before Meg O’Neill Takes Charge

BP prepares for Meg O’Neill to take over as CEO on April 1, with Brent crude above $115 a barrel and set for its largest monthly gain since 1988. BP recently announced the sale of its Gelsenkirchen refinery, raised its cost-cutting target, and pushed divestments past $11 billion. O’Neill also faces pressure from investors demanding a climate resolution by April 1. BP’s Middle East operations account for about 22% of its 2025 output.
March 30, 2026
Santos Stock Price Today: Why ASX STO Held Firm as Oil Hit $103 and Rates Rose
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Santos Stock Price Today: Why ASX STO Held Firm as Oil Hit $103 and Rates Rose

Santos shares rose to A$7.71 on March 17 as Brent crude hit $103.42 after Iranian attacks on the UAE raised supply fears. The company expects a 25–30% production boost by 2027 from Barossa and Pikka projects, despite a 25% drop in 2025 profit and plans to cut 10% of staff. Australia’s central bank raised rates to 4.1% citing energy-driven inflation risks. Santos loaded its first Barossa cargo from Darwin LNG.
March 18, 2026
Transocean Stock Price Today: RIG Climbs as Oil Rally Puts Valaris Deal Back in Focus
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Transocean Stock Price Today: RIG Climbs as Oil Rally Puts Valaris Deal Back in Focus

Transocean shares rose 2.1% to $6.29 by midday Wednesday as oil prices surged nearly 4% following new attacks on ships in the Strait of Hormuz. The company is pursuing a $5.8 billion all-stock merger with Valaris, aiming to cut debt and expand to 73 rigs. Transocean reported 2025 revenue of $3.965 billion and reduced debt by $1.258 billion. The Valaris deal still requires regulatory and shareholder approval.
March 11, 2026
Last Week on Saudi Exchange: TASI claws back to weekly gain as oil rally steadies Saudi stocks
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Last Week on Saudi Exchange: TASI claws back to weekly gain as oil rally steadies Saudi stocks

Saudi Arabia’s Tadawul All Share Index closed Thursday at 10,776.32, up 83.63 points for the day and 0.6% on the week, outperforming Gulf peers as regional tensions lifted oil prices. Trading totaled 5.23 billion riyals with 194 gainers and 62 losers. Al Rajhi Bank rose 1.76%, while Al Moammar Information Systems surged 9.95% on a data-centre deal. TASI remains below its 52-week high but is up 2.72% year-to-date.
March 7, 2026
Slovakia taps emergency oil reserves as Druzhba shutdown shifts pressure to Croatia’s Adria pipeline
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Slovakia taps emergency oil reserves as Druzhba shutdown shifts pressure to Croatia’s Adria pipeline

Slovakia declared an oil supply emergency and authorized the release of up to 250,000 tonnes from state reserves for Slovnaft after Russian crude flows through the Druzhba pipeline were disrupted. Prime Minister Robert Fico said using Croatia’s Adria pipeline would cost over five times more. Croatia signaled limits on routing more Russian oil, citing sanctions and rising costs. EU officials said Slovakia and Hungary hold 90 days of reserves but want a repair timeline from Ukraine.
February 18, 2026