Côte d'Ivoire signed an agreement with Yaatra Ventures to build a 170,000 barrels/day oil refinery, a $5.1 billion investment aimed at boosting national refining capacity.
The International Court of Justice ruled on the validity of treaties between Gabon and Equatorial Guinea over three strategic offshore islets potentially rich in oil.
Under pressure from investor Elliott, Phillips 66 sells a majority stake in its European fuel station subsidiary for $2.8bn in a move to streamline its portfolio.
The International Energy Agency forecasts a significant rise in global oil stocks due to slowing demand in developed economies and OPEC+'s gradual production increases starting in 2025.
Africa Oil completed the integration of Prime, doubling its production and reserves, while declaring a second quarterly dividend of $25mn supported by strong cash generation.
Namibia plans to finalise agreements with TotalEnergies for the Venus oil field and with BWEnergy for the Kudu gas field by the end of 2026, according to the country’s petroleum commissioner.
The Trump administration has announced new sanctions targeting Iran's oil export network to China amid ongoing nuclear talks between Washington and Tehran.
Japanese refiners, dependent on Gulf crude for 96.6% of imports, are struggling to diversify supply sources as increased OPEC+ output makes Persian Gulf barrels more competitive compared to US crude.
Deputy Prime Minister Alexander Novak says Russian oil production could reach a sustained level of 10.8 million barrels per day, supported by rising global demand and internal fiscal adjustments.
Oil prices climbed on Friday, supported by the signing of a trade agreement between the United States and the United Kingdom, reviving expectations of easing global tensions.
BluEnergies Ltd. has announced the immediate appointment of Craig Steinke as Chief Executive Officer, succeeding James Deckelman, who is stepping down for personal reasons.
The increase in tariffs between the United States and China is radically reshaping China's petrochemical supply flows, threatening to raise costs and intensify supply challenges in an already strained strategic sector.
