Abu Dhabi National Oil Co., or Adnoc, estimated that oil shipments in the Strait of Hormuz will not flow fully before the first or second quarter of 2027 even if the war in the Middle East ends immediately.
The state-owned oil producer's chief executive Sultan Al Jaber said in an event on Wednesday that it will take at least four months for oil flows to return to 80% of pre-conflict levels, Reuters reported on Thursday.
Diamondback Energy (FANG) said on Wednesday that Travis Stice stepped down as executive chairman and became non-executive chairman effective May 20, as part of a leadership transition plan previously announced by the company.
BP (BP.L) said Wednesday the United Steelworkers Local 7-1 union agreed to resume labor negotiations on Friday.The British energy major added that it is looking forward to a "meaningful dialogue" to strike an agreement with union members concerning operations at its Whiting refinery in Indiana, US.