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Key Impact Points: 50% Reduction Goal: EFRAG aims to cut the number of mandatory data points in the ESRS by over half to ease the reporting burden on companies. Six Simplification Levers: Reforms include simplifying the double materiality assessment, streamlining disclosures, and improving clarity and interoperability with IFRS standards. October Deadline: EFRAG will publish draft revisions in July and finalize its advice to the European Commission by October 31, 2025, unless the timeline is extended. EFRAG Responds to EU Push for ESRS Simplification EFRAG has released a progress report detailing its strategy to significantly simplify the European Sustainability Reporting Standards…

Oil plunged by more than 7% as Iran’s response to US military strikes spared energy infrastructure, allaying investor concerns that the conflict would severely disrupt supplies from the Middle East. West Texas Intermediate slumped below $70 a barrel after Iran fired missiles at a US air base in Qatar in retaliation for President Donald Trump’s weekend airstrikes on three of its nuclear facilities. Traders had initially feared that Iran’s retaliatory response would involve a closure of the Strait of Hormuz chokepoint, through which about a fifth of the world’s oil passes. The barrage was intercepted and did not result in…

Goldman Sachs Group Inc. flagged the possibility of higher oil and gas prices after the US struck Iran, even as the bank’s base-case outlook hinges on major disruptions to supplies from the region. If oil flows through the Strait of Hormuz were to drop by half for a month, and remained 10% lower for another 11, Brent would spike briefly to as much as $110 a barrel, analysts including Daan Struyven said in a note. Should Iranian supply fall by 1.75 million barrels a day, Brent would peak at $90. The global oil market is trying to figure out the…

Just hours after the U.S. launched attacks on Iran’s uranium enrichment facilities, the Iranian parliament expressed support for shutting down the Strait of Hormuz—one of the world’s most critical routes for fossil fuel transportation, particularly oil and LNG. The Middle East conflict, which began on June 13, 2025, following Israeli airstrikes targeting Iranian military bases and commanders, has now entered its tenth day. The situation escalated dramatically with the U.S. joining Israel in directly bombing Iran’s nuclear enrichment sites—a move that had previously been expected to be carried out solely by American military power.On Monday afternoon, U.S. Eastern time, Iran…

In the age of AI coding, GitHub’s CEO says he’s still a believer that junior engineers are of great value to tech companies. Just don’t be surprised if you’re asked to showcase your prompt-engineering skills in a job interview.Thomas Dohmke, who has been CEO of Microsoft-owned GitHub since 2021, talked in a recent interview with “The Pragmatic Engineer” about what early-career software developers bring to the table.”It’s lovely to see that those folks that bring fresh ideas, a great amount of energy, the latest learnings from college and university, and often a different, diverse background into the company,” Dohmke said.The…

OEG has finalized an agreement with Al Nasr Holding Co. in Qatar. The agreement further reinforces the OEG’s strategic partnership with Venture Gulf Engineering (VGE), an Al Nasr subsidiary, which supports the oil and gas, petrochemical, and industrial sectors in Qatar. Earlier this year, OEG joined forces with VGE – a leading specialist in container manufacturing, testing, and certification – to support Qatar’s energy sector with ISO cryogenic tanks for the safe transportation of nitrogen (N₂), enhancing logistics capabilities in the region. The alliance, which has grown from an initial fleet of 40 cargo carrying units to more than 3,000…

Qatar’s liquefied natural gas (LNG) production remains steady despite growing geopolitical concerns in the Gulf following U.S. airstrikes on Iranian nuclear sites and Tehran’s retaliation, according to shipping data released by Independent Commodity Intelligence Services (ICIS). According to ICIS, 43 LNG vessels have departed Ras Laffan over the past 15 days, a volume that mirrors the same period last year, indicating zero disruption.Despite this, analysts are seeing signs of hesitation among buyers. A noticeable uptick in ballast tankers lingering east of the Strait of Hormuz suggests importers are delaying final routing decisions, likely in response to perceived shipping risks. Das Island,…

Wall Street’s positive reaction to Saturday’s U.S. bombings in Iran suggests the oil-rich Mideast state is “not as relevant” to the stock market as it used to be, CNBC’s Jim Cramer said Monday. Indeed, U.S. oil benchmark West Texas Intermediate and global standard Brent were modestly lower early Monday, and the S & P 500 pushed higher. Both crude contracts came off their multi-month highs seen overnight following several sessions of volatile trading since Israel first attacked Iran’s nuclear facilities on June 13. On Monday afternoon, both WTI and Brent moved further to the downside — off more than 5% around…

Petro-Victory Energy Corp., an oil and gas E&P company focused on onshore Brazil, has commenced its drilling campaign of the AND-5 well at the Andorinha Field located in the Potiguar basin, Rio Grande do Norte, Brazil. The AND-5 well drilling campaign, located in the 100% owned Andorinha Field in Brazil’s Potiguar Basin, commenced on June 20, 2025. The well represents the first of two fully-funded drilling programs in the Andorinha field under Petro-Victory’s strategic partnership with Azevedo & Travassos Energia (ATE) previously announced in a press release on June 24th, 2024. The well targets the Açu and Alagamar…

Stay informed with free updatesSimply sign up to the Oil & Gas industry myFT Digest — delivered directly to your inbox.BP, TotalEnergies and Eni have begun to evacuate staff from oilfields in Iraq amid fears that neighbouring Iran may retaliate against Israel and the US by bombing energy infrastructure in the region.The three European oil majors have “temporarily evacuated some foreign personnel” from the south of the country, although local staff were continuing to run operations and oil production had been unaffected, Iraq’s state-run Basra Oil Company said in a statement on Monday.The decisions follow US air strikes on Iranian…