Amid rising energy costs and a surge in cheap imports, Ineos announces a 20% workforce reduction at its Hull acetyls site and urges urgent action against foreign competition.
Fuel shortages now affect Bamako, struck in turn by a jihadist blockade targeting petroleum flows from Ivorian and Senegalese ports, severely disrupting national logistics.
McDermott has signed a memorandum of understanding with PETROFUND to launch technical training programmes aimed at strengthening local skills in Namibia’s oil and gas sector.
Driven by growing demand for strategic metals, mining mergers and acquisitions in Africa are accelerating, consolidating local players while exposing them to a more complex legal and regulatory environment.
The example of OML 17 highlights the success of an African-led oil production model based on local accountability, strengthening Nigeria’s position in public energy investment.
ExxonMobil has signed a memorandum of understanding with the Iraqi government to develop the Majnoon oil field, marking its return to the country after a two-year absence.
Crude prices rose following the decision by the Organization of the Petroleum Exporting Countries and its allies to increase production only marginally in November, despite ongoing signs of oversupply.
Cenovus Energy modifies terms of its acquisition of MEG Energy by increasing the offer value and adjusting the cash-share split, while reporting record third-quarter results.
Ares Management has acquired a 49% stake in ten energy assets held by EDP Renováveis in the United States, with an enterprise value estimated at $2.9bn.
Ameresco secured a $197mn contract with the U.S. Naval Research Laboratory to upgrade its energy systems across two strategic sites, with projected savings of $362mn over 21 years.
Hungarian oil group MOL and Croatian operator JANAF are negotiating an extension of their crude transport agreement as the region seeks to reduce reliance on Russian oil.
Rail shipments of Belarusian gasoline to Russia surged in September as Moscow sought to offset fuel shortages caused by Ukrainian attacks on its energy infrastructure.
Denmark is intensifying inspections of ships passing through Skagen, a strategic point linking the North Sea and the Baltic Sea, to counter the risks posed by the Russian shadow fleet transporting sanctioned oil.
Nicola Mavilla succeeds Kevin McLachlan as TotalEnergies' Director of Exploration, bringing over two decades of international experience in the oil and gas industry.
Sahara Group is making a major investment in Nigeria with seven new drilling rigs, aiming to become the country’s top private oil producer by increasing output to 350,000 barrels per day.
Chevron is working to restart several units at its El Segundo refinery in California after a fire broke out in a jet fuel production unit, temporarily disrupting regional fuel supplies.
Enerflex Ltd. announced it will release its financial results for Q3 2025 before markets open on November 6, alongside a conference call for investors and analysts.
Ethiopia has begun construction of its first crude oil refinery in Gode, a $2.5bn project awarded to GCL, aimed at strengthening the country’s energy security amid ongoing reliance on fuel imports.
Marubeni Corporation has formed a power trading unit in joint venture with UK-based SmartestEnergy, targeting expansion in Japan’s fast-changing deregulated market.
Exxon Mobil plans to reduce its Singapore workforce by 10% to 15% by 2027 and relocate its offices to the Jurong industrial site, as part of a strategic investment shift.
Phoenix Energy raised $54.08mn through a preferred stock offering now listed as PHXE.P on NYSE American, with an initial dividend scheduled for mid-October.
International Petroleum Corporation has completed its annual common share repurchase programme, reducing its share capital by 6.2% and is planning a renewal in December, pending regulatory approval.
TotalEnergies plans to increase its energy production by 4% annually until 2030, while reducing global investments by $7.5bn amid what it describes as an uncertain economic environment.
Kansai Electric Power plans to shut down two heavy fuel oil units at Gobo Thermal Power Station, totalling 1.2GW of capacity, as part of a production portfolio reorganisation.
Occidental Petroleum is considering selling its chemical subsidiary OxyChem for $10bn, a transaction that forms part of its deleveraging strategy launched after several major acquisitions.
ABO Energy is assessing a shift to independent power production by operating its own renewable parks, signalling a major strategic move in a market that has become more favourable.
BP commits $5 billion to Tiber-Guadalupe, with a floating platform targeting 80,000 barrels per day and first production in 2030, to increase its offshore volumes in the Gulf of Mexico.
Russia projects a 12.5% contraction in oil and gas revenues in 2025, before a gradual recovery through 2028, according to official economic projections.
Fortescue accelerates the decarbonisation of its operations by leveraging an international network of technology and industrial partners, targeting net zero at its mining sites by 2030.
Baker Hughes will supply up to 50 subsea trees and associated equipment to Petrobras to support offshore production in Brazil, strengthening its role in the development of pre-salt fields.
Driven by rising global energy consumption and exploration investments, the oilfield service equipment market is expected to grow at a 5.39% CAGR to reach $36.87bn by 2031.
US sanctions against Serbian oil company NIS, owned by Gazprom, were delayed by eight days after talks between Belgrade and Washington, President Aleksandar Vucic said.
Mexican state-owned company Pemex confirmed the partial acceptance of bond securities under its debt repurchase offer, with a total allocation of $9.9bn, following strong oversubscription.
Nigeria’s oil union ordered the suspension of gas and crude deliveries to Dangote refinery following the dismissal of hundreds of local workers, escalating an industrial dispute with potential supply impacts.
Vitol strengthens its presence in West Africa by acquiring a 30% stake in the Baleine oil field from Eni, while maintaining an active role in the country’s offshore development.
ShaMaran and several international oil companies have reached a provisional deal with Baghdad and Erbil to resume crude exports from the Kurdistan region via pipeline, after months of suspension.
The number of active drilling rigs in the United States rose for the fourth consecutive week, supported by higher crude prices and OPEC+’s difficulties in meeting production targets.
