As Washington moves to reshape Venezuela’s oil sector, campaign finance data shows Republicans received the vast majority of oil and gas industry election spending in 2023 and 2024.

New Jersey motorists are seeing the lowest gas prices in years, even against the backdrop of turbulence in Venezuela.

Norway's offshore oil and gas output will remain broadly steady in 2026, but investments are seen falling by 6.6%, signalling a slowdown in activity and declining production towards the end of this decade,

Oil and gasoline prices could rise slightly due to Venezuelan export losses and geopolitical uncertainty, though pump prices remain at COVID-19 lows.

Oil and gas profits were once the backbone of the Kremlin’s wealth, but Moscow cannot continue to rely on high levels of revenue from the sector over the long term, according to a recent statement by the Russian Finance Minister.

The oil and gas market was punctuated with volatility in 2025. Oil prices softened as supply outpaced demand and inventories built. Brent and West Texas Intermediate (WTI) crude slipped in late 2025,

Despite rising political risks in oil-producing countries, energy markets remain calm as structural shifts in demand, diversification into renewables, and strategic supply buffers reduce the impact of traditional geopolitical shocks on oil prices.

The Texas oil and natural gas industry paid $27 billion in state and local taxes and state royalties in fiscal 2025. It was the second highest total the industry paid in recorded state history.

Turkey’s state-owned oil and gas company, Turkish Petroleum Corporation (TPAO), has signed a memorandum of understanding with Exxon Mobil affiliate ESSO Exploration International Limited to explore ne

Equinor has awarded $10 billion in framework agreements to seven suppliers for maintenance and modifications to sustain high oil and gas production levels offshore Norway through 2035.

Fire crews have tackled a blaze at a farm where an oil tank and gas cylinder were being stored. Firefighters were sent to the farm on The Street in Kettlebaston, near Lavenham, Suffolk, at about 01:00 GMT.