Energy news for July 7, 2026
July 7, 2026 · 7 stories
7 stories from across markets and power. The day led with Baker Hughes to deploy up to 46 wireline units across ONGC fields.
Markets
Baker Hughes to deploy up to 46 wireline units across ONGC fields
Baker Hughes secured multiple ONGC contracts to run wireline and drill stem testing across offshore and onshore fields in India.
Power
US, Japan and South Korea sign pact on small modular reactor deployment
US, Japanese and South Korean foreign ministers signed a Memorandum of Cooperation in Ankara to jointly deploy small modular reactors abroad.
Markets
Rubio and Chile's top diplomat discuss critical minerals investment in first meeting
In their first bilateral meeting, Rubio and Chile's Pérez Mackenna discussed US investment in critical minerals and AI supply chain security.
Upstream
Invictus Energy awards wellpad and rig contracts for Musuma-1 in Zimbabwe
Wellpad works and rig mobilization move Invictus toward a H2 2026 spud of Musuma-1, a well testing a new play outside its Mukuyu gas find.
Markets
EIA lifts global oil production forecast as Strait of Hormuz reopens
Brent fell to $85 a barrel in June, and EIA expects shut-in oil supply to return by early 2027 after a US-Iran deal reopened the Strait of Hormuz.
Power
SDG&E says more than 1 in 4 customers now generate their own solar power
San Diego Gas & Electric says over 350,000 customers now make their own solar power, and interconnections now average about three days.
Markets
UAE crude exports hit a record 3.8 million barrels a day in June
Gulf producers are flooding discounted crude into Asia and Europe as OPEC's authority frays after the Iran war.
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