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Oil

This Month

Strike Energy is looking to progress the West Erregulla gas project in Western Australia with partner Hancock Energy.

Carnarvon poised to take major stake in WA junior Strike Energy

The deal, expected this week, would provide funding that it can use to advance its gas exploration and power generation ambitions in Western Australia.

Can Meg O’Neill deliver Woodside’s $100b gamble?

The ambitious chief executive is on the front line of the climate change wars. And she has big plans to turn the local LNG giant into a global powerhouse.

Santos’ production at its Moomba hub in South Australia’s north was reduced by flooding in the June quarter.

Santos’ $6.1b gas project on track as investors await bid news

The oil and gas company, which is the subject of a $36.4 billion takeover bid, has lowered its expected output for the year.

Workers on a Santos drilling rig in the Cooper Basin in 2003. Some of the company’s older infrastructure is being scrapped, leaving it with a multi-billion dollar clean-up fee.

Santos bidders run ruler over billion-dollar rehabilitation costs

The oil and gas giant’s liabilities for the removal of disused wells, pipelines and other heavy equipment is already $6.3 billion. But it could be a lot higher.

Oil advanced to end the trading week as Russian supplies appear poised for US sanctions.

Oil rises on speculation Trump plans to sanction Russian crude

US sanctions could be announced early next week as Trump signals an increasing frustration with Putin’s refusal to end his war against Ukraine.

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The Australian Financial Review’s Street Talk column on Sunday revealed the discussions between Santos and the Abu Dhabi National Oil Company, known as Adnoc.

Everything you need to know about Santos’ deep-pocketed suitor

As shareholders wait to see if Treasurer Jim Chalmers will bless the $36 billion takeover, here’s all you need to know about the lead player, XRG.

June 25, 2025

The key to Middle East peace

Readers’ letters on a two-state solution in the Middle East, Albanese’s lack of meetings with Trump, efficient courts, gender quotas in the Liberal Party, CBA’s relationship with NPS and Australia’s fuel security.

June

When did oil reach its highest ever price? Find out in our weekly quiz

Have you been paying attention this week? Test your knowledge across politics, business and world news.

If Shell were to acquire BP, it would be among the largest deals in European history.

BP shares surge on report of takeover talks with Shell

The deal would be among the largest in European history, creating for the first time an oil major that could challenge industry leaders Exxon Mobil and Chevron.

Iranian oil tanker Fortune is anchored at the dock of the El Palito refinery near Puerto Cabello, Venezuela.

Trump baffles with sudden U-turn on China buying Iranian oil

Analysts said the US president appeared to be “throwing a bone” to China as the administration tries to hammer out a new trade framework with Beijing.

Smoke rises from an oil storage facility after it appeared to have been struck by an Israeli strike on Tehran last week.

How the oil price became ‘desensitised’ to Middle East flare-ups

The conflict between Israel and Iran sparked wild swings in the world’s most traded commodity but prices never came close to the heights of previous crises.

Iran’s parliament has voted to close the Strait of Hormuz, the vital shipping channel through which 20 per cent of the world’s daily oil flows.

Want to stop high energy prices? End addiction to imported oil

The escalating conflict in the Middle East could have dire consequences for global energy markets and the economies dependent on imports – like Australia.

It’s the reaction to Trump’s attack that markets are watching for now.

Two ‘pain’ trades for markets from Iran will surprise you

Markets are calm as investors await more detail on Iran’s likely retaliation to US attacks. But there are pockets of the market that need to be watched closely.

The aircraft carrier USS Dwight D. Eisenhower and other warships cross the Strait of Hormuz into the Persian Gulf.

Traders pile into commodity markets as returns rival 2022 boom

The US bombing of nuclear sites in Iran has turbocharged a rally in energy prices, extending the best returns for commodities since Russia’s invasion of Ukraine.

Trump’s attack on Iran was a wildcard investors are not ready for.

Trump’s attack on Iran could wipe up to 10pc off equity markets

The White House’s decision to join the attack on Iran will rattle markets. The scale of the damage depends almost entirely on Iran’s next move, not America’s.

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AIS’ products protect offshore wind farm subsea power cables from over-bending, abrasion and impact.

Global protection products manufacturer taps brokers for $500m IPO

United Kingdom-headquartered AIS is seeking institutional investor support for its initial public offering, signing on with Henslow and Morgans.

L1 Capital’s James Hawkins and Raphael Lamm are supportive of the bid for Santos.

Major Santos shareholder L1 Capital backs $36b takeover

L1 Capital has delved into the problem of how to unlock value from Santos for years, so it’s telling that it supports the giant bid from Abu Dhabi Inc. 

The Strait of Hormuz is a key shipping route but is under threat from the escalating conflict in the Middle East.

Two oil tankers collide and catch fire near Strait of Hormuz

The incident adds to anxiety around the crucial shipping route as Iran and Israel hit each other with missiles.

Sultan Ahmed Al Jaber, head of Adnoc, was the president of the COP28 climate summit in Dubai.

Market debates whether Abu Dhabi will help or hinder Santos’ ambitions

While some brokers said a well-funded backer would accelerate projects in Narrabri and Beetaloo, others are concerned they will suffer as focus drifts elsewhere.

Abu Dhabi sets up test for Labor with $36b Santos takeover bid

But the offer for the ASX’s second-largest oil and gas producer has been met with a lukewarm reception from investors, who say the price could be higher.

Original URL: https://www.afr.com/topic/oil-huo