The American oil group now plans to invest $20 billion in low-emission technologies by 2030, down from the $30 billion initially announced one year earlier.
US investment bank Xtellus Partners has submitted a plan to the US Treasury to recover frozen Lukoil holdings for investors by selling the Russian company’s international assets.
Ghanaian company Cybele Energy has signed a $17mn exploration deal in Guyana’s shallow offshore waters, targeting a block estimated to contain 400 million barrels and located outside disputed territorial zones.
BHP sells a minority stake in its Western Australia Iron Ore power network to Global Infrastructure Partners for $2 billion, retaining strategic control while securing long-term funding for its mining expansion.
Oil prices moved little after a drop linked to the restart of a major Iraqi oilfield, while investors remained focused on Ukraine peace negotiations and an upcoming monetary policy decision in the United States.
TechnipFMC will design and install flexible pipes for Ithaca Energy as part of the development of the Captain oil field, strengthening its footprint in the UK offshore sector.
Vaalco Energy has started drilling the ET-15 well on the Etame platform, marking the beginning of phase three of its offshore development programme in Gabon, supported by a contract with Borr Drilling.
The attack on a key Caspian Pipeline Consortium offshore facility in the Black Sea halves Kazakhstan’s crude exports, exposing oil majors and reshaping regional energy dynamics.
Iraq is preparing a managed transition at the West Qurna-2 oil field, following US sanctions against Lukoil, by prioritising a transfer to players deemed reliable by Washington, including ExxonMobil.
More than $80bn in overseas cleantech investments in one year reveal China’s strategy to export solar and battery overcapacity while bypassing Western trade barriers by establishing industrial operations across the Global South.
The rehabilitation cost of Sonara, Cameroon’s only refinery, has now reached XAF300bn (USD533mn), with several international banks showing growing interest in financing the project.
Exxaro increases its energy portfolio in South Africa with new wind and solar assets to secure power supply for operations and expand its role in independent generation.
China imported 12.38 million barrels per day in November, the highest level since August 2023, driven by stronger refining margins and anticipation of 2026 quotas.
The United States reaffirmed its military commitment to Guyana, effectively securing access to its rapidly expanding oil production amid persistent border tensions with Venezuela.
Sanctioned tanker Kairos, abandoned after a Ukrainian drone attack, ran aground off Bulgaria’s coast, exposing growing legal and operational risks tied to Russia’s shadow fleet in the Black Sea.
The United States is temporarily licensing Lukoil’s operations outside Russia, blocking all financial flows to Moscow while facilitating the supervised sale of a portfolio valued at $22bn, without disrupting supply for allied countries.
Libya’s state oil firm NOC plans to launch a licensing round for 20 blocks in early 2026, amid mounting legal, political and financial uncertainties for international investors.
European sanctions on Russia and refinery outages in the Middle East have sharply reduced global diesel supply, driving up refining margins in key markets.
Plenitude acquires full ownership of ACEA Energia for up to €587mn, adding 1.4 million customers to its portfolio and reaching its European commercial target ahead of schedule.
