Fitch Ratings on Wednesday affirmed Indian Oil's (NSE:IOC, BOM:530965) long-term credit rating of BBB- with a stable outlook.
The rating agency also maintained the state-owned oil company's standalone credit profile of bb+, citing its dominant market position in the domestic market.
Fitch said it expects the company's EBITDA net leverage to deteriorate in fiscal 2027 due to the impact of the Iran conflict before recovering to a satisfactory level in the financial year ending March 2028.
UAE oil exports recovered to nearly 85% of pre-Iran war levels in early June, reaching 4.3 million barrels per day from 1.9 million bpd in March, according to the International Energy Agency, Bloomberg reported Tuesday.The IEA said the UAE boosted shipments by using its Fujairah pipeline route that bypasses the Strait of Hormuz, drawing on storage at its 42-million-barrel Mandous facility and increasing exports through the strait.Abu Dhabi National Oil Co. also used its own fleet to move oil and gas cargoes through the Persian Gulf during the conflict, helping maintain supplies despite disruptions.Oil prices have since returned to near pre-war levels after the US and Iran reached an interim peace agreement and shipping traffic through the Strait of Hormuz increased, according to Bloomberg.
Colombia's natural gas reserves held near their lowest level in almost two decades in 2025, Bloomberg reported Tuesday, citing data from the National Hydrocarbons Agency.Reserves stood at 5.9 years of production at end-2025, unchanged from a year earlier and at their lowest since at least 2007, according to the report.Proven crude reserves rose to 2.02 billion barrels, equivalent to 7.4 years of output, from 7.2 years previously, Bloomberg said.President-elect Abelardo de la Espriella plans to reverse current energy policies by allowing new oil and gas exploration and fracking pilots after taking office, Bloomberg reported.
Woodside Energy Group (ASX:WDS) said it will invest $5 million over six years to restore more than 800 acres of forest habitat at Sam Houston Jones State Park in Calcasieu Parish, Louisiana, as part of a large-scale ecological rehabilitation effort, according to a Wednesday statement by the company.The project will be delivered in partnership with the Louisiana Office of State Parks, led by Lieutenant Governor Bill Nungesser, alongside RES and McNeese State University.The initiative aims to restore native ecosystems such as longleaf pine forests, cypress-tupelo swamps, and hardwood stands through invasive species removal, reforestation, and prescribed burning.The project also incorporates research and monitoring efforts to strengthen long-term ecological resilience and wildlife conservation while improving recreational access and the visitor experience.