Maurel & Prom acquires additional stakes in two offshore oil blocks in Angola, consolidating its existing assets for an initial sum of $23mn, potentially rising based on market developments and production performance.
Perenco Congo begins construction of the offshore Kombi 2 platform, a project exceeding $200mn aimed at increasing the country’s oil production and resource development.
Long a major player in OPEC, Iran sees its influence on the oil market significantly reduced due to US sanctions, Israeli strikes, and increasing reliance on exports to China.
After several months of interruption following a major political upheaval, Syria's Banias refinery has shipped its first cargo of refined products abroad, marking a partial revival of its energy sector.
ExxonMobil and its partners have extended the production sharing contract for Block 17 in Angola, securing the continued operation of major infrastructure in a key offshore asset for Africa’s oil sector.
Egypt’s General Petroleum Company discovers a new oil field in Abu Sannan, producing 1,400 barrels per day, confirming growing interest in this mature Western Desert region.
The South Sudanese government is collaborating with Chinese group CNPC to reactivate several major oil fields, aiming to stabilise national production affected by political instability and ongoing technical difficulties.
TotalEnergies takes 25 % of a portfolio of 40 exploration permits on the US Outer Continental Shelf, deepening its partnership with Chevron in the Gulf of Mexico’s deepwater.
OPEC confirms global oil demand estimates for 2025-2026 despite slightly adjusted supply, while several members, including Russia, struggle to meet their production targets under the OPEC+ agreement.
Facing anticipated refusal from G7 countries to lower the Russian oil price cap to $45, the European Union weighs its options, leaving global oil markets awaiting the next European sanctions.
Starting August 15, the Dangote refinery will directly supply gasoline and diesel to Nigerian distributors and industries, expanding its commercial outlets and significantly reshaping the energy landscape of Africa's leading oil producer.
The sudden appearance of hydrocarbon clusters has forced the closure of beaches on the Danish island of Rømø, triggering an urgent municipal investigation and clean-up operation to mitigate local economic impact.
Argentine company Compañía General de Combustibles is starting operations in the Vaca Muerta shale basin while boosting heavy crude production due to strong local demand and rising prices.
Italiana Petroli, in negotiations with three potential buyers, is expected to finalize the total sale of the group for around €3 billion by late June, according to several sources close to the matter speaking to Reuters on Thursday.
ExxonMobil has been named the most admired upstream exploration company in Wood Mackenzie’s latest annual survey, recognised for its performance in Guyana and its ability to open new resource frontiers.
Petronas' workforce reduction reignites questions about internal trade-offs, as the group maintains its commitments in Asia while leaving uncertainty over its operations in Africa.
The Kremlin condemns the European proposal to lower the price cap on Russian oil to $45 per barrel, asserting that this measure could disrupt global energy markets, as the G7 prepares for decisive discussions on the issue.
Libya's oil production reached a twelve-year high of 1.23 million barrels per day, even as persistent political tensions and violent clashes in Tripoli raise concerns about the sector's future stability.
