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Quentin Szelag

Gran Tierra signs $200mn prepayment deal and adjusts debt structure in Colombia
Gran Tierra Energy has signed a crude oil sale agreement with a $200mn prepayment and amended its Colombian credit facility to improve financial flexibility.
BP restarts Whiting refinery after power outage and fire
Operations at BP’s 440,000 barrel-per-day Whiting refinery have resumed following a temporary shutdown caused by a power outage and a minor fire incident.

The EU sanctions CNPC units as ESPO pipeline flows remain stable

The European Union targets a trading subsidiary and a refinery linked to China National Petroleum Corporation, tightening access to financial and insurance services without disrupting pipeline deliveries, with reallocations expected in settlements, insurance, and logistics. —
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Hungary seeks to maintain Russian oil imports despite sanctions
Viktor Orban says he is working to bypass recent US sanctions targeting Rosneft and Lukoil, underscoring Hungary’s continued reliance on Russian hydrocarbons.
India redirects its diesel to Africa and Brazil ahead of 2026
Traceability requirements from the EU (European Union) on fuel origin are reshaping Indian refined flows, with a shift toward Africa and Brazil supported by local premiums and a decline in Russian exports.

Washington hits Rosneft and Lukoil, EU tightens, Brent climbs

U.S. sanctions targeting Rosneft and Lukoil trigger a rebound in oil, while the European Union prepares a clampdown on liquefied natural gas and maritime logistics, with immediate repercussions for markets and Russia’s export chain.
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Brazil awards five offshore oil blocks ahead of COP30
Ten days before COP30, Brazil awarded five offshore oil blocks for over $19mn, confirming its deepwater development strategy despite environmental criticism.
La Libye cible 1,6 million de barils par jour de pétrole d’ici fin 2026
Tripoli mise sur des partenariats avec des majors et jusqu’à 4 milliards $ d’investissements pour relancer sa production pétrolière, malgré un climat politique divisé.

Niger maintains oil cooperation with China despite growing demands

Niger hardens its stance on energy sovereignty but avoids breaking with China National Petroleum Corporation, its main oil industry partner, in order to safeguard export revenues.
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OPEC production uncertainty keeps global oil market from deeper slide
As Brent hovers near $60, growing opacity around OPEC’s output restrains a steeper decline in crude prices amid surplus warnings by the International Energy Agency.
Galp aims to secure partner for Namibia’s Mopane field by end of 2025
Portuguese energy group Galp plans to finalise a strategic partnership for its offshore oil project Mopane in Namibia before the end of the year.

Shell faces $2 billion lawsuit in Nigeria ahead of asset divestment

A traditional leader from the Niger Delta is seeking compensation before Shell’s onshore asset sale, citing decades of unaddressed pollution in his kingdom.
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Oxford Energy Institute Data Confirms the Dominance of Contrarian Strategies in Oil Trading
The Oxford Energy Institute study shows that signals from weekly positions and the Brent/WTI curve now favor contrarian strategies, in a market constrained by regulation and logistics affected by international sanctions. —
Russia delivers 105,000 tons of crude to new Kulevi refinery
Russian company Russneft has shipped its first oil cargo to Georgia’s newly launched Kulevi refinery, despite the absence of formal diplomatic ties between Moscow and Tbilisi.

New Stratus enters Brazil with 32.5% oil deal on two blocks

New Stratus Energy has signed a definitive agreement with Vultur Oil to acquire up to 32.5% interest in two onshore oil blocks located in the State of Bahia, Brazil, with an initial investment of $10mn.
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Clearview completes sale to listed company for $1.84 per share
Clearview Resources has completed the sale of all its shares to a listed oil company, exiting Canadian financial markets following shareholder and court approval.
Petrobras authorised to drill off the Amazon coast despite opposition
The Brazilian government has approved an offshore drilling project led by Petrobras in the Equatorial Margin region, weeks before COP30 in Belém.

Trump reignites regulatory debate over oil in California

In Taft, a historic stronghold of black gold, Donald Trump's return to the presidency reopens the issue of California's restrictions on oil production and fuels renewed optimism among industry stakeholders.
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Vantage Drilling cancels a $80m contract after a major regulatory shift
Vantage Drilling halted a 260-day drilling contract for the vessel Platinum Explorer following a rapid evolution of international sanctions regimes that made the campaign non-compliant with the applicable legal framework shortly after it was signed.
Paratus receives $58mn in Mexico following release of public fund
Paratus Energy Services received $58mn through its subsidiary Fontis Energy in Mexico, initiating the repayment of arrears via a government-backed fund established to support investment projects and ensure supplier payments.
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BP restarts Whiting refinery after power outage and fire
EDF promises stable electricity prices in 2026 despite tariff reform
EDF considers targeted asset sales to boost financial flexibility
Asian LNG activity hits seasonal high despite muted demand
Eni phases its biorefineries to 1.65 Mt/y and secures financing
UK sanctions Rosneft, Lukoil and 51 vessels linked to Russian oil exports
The United Kingdom targets two Russian oil majors, Asian ports and dozens of vessels in a new wave of sanctions aimed at disrupting Moscow's hydrocarbon exports.
Brent under pressure: traders expect prices to fall towards $60
Major global oil traders anticipate a continued decline in Brent prices, citing the fading geopolitical premium and rising supply, particularly from non-OPEC producers.

Petro-Victory secures $300,000 loan with attached warrants

Canadian company Petro-Victory Energy Corp. has secured a $300,000 unsecured loan at a 14% annual rate, including 600,000 warrants granted to a lender connected to its board of directors.
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Cenovus Energy acquires 8.5% stake in MEG Energy
Cenovus Energy has purchased over 21.7 million common shares of MEG Energy, representing 8.5% of its capital, as part of its ongoing acquisition strategy in Canada.
Fuel consumption in France rises despite overall oil downturn
In September 2025, French road fuel consumption rose by 3%, driven by a rebound in unleaded fuels, while overall energy petroleum product consumption fell by 1.8% year-on-year.

SIR secures $105.6mn from BOAD for low-sulphur diesel complex

Société Ivoirienne de Raffinage receives major funding to upgrade facilities and produce diesel fuel in line with ECOWAS standards, with commissioning expected by 2029.
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Mongolia plans to launch its first oil refinery in 2028 with India’s support
India is funding Mongolia’s first oil refinery through its largest line of credit, with operations scheduled to begin by 2028, according to official sources.
Global energy demand rises by 40 million barrels of oil equivalent per day
Aramco CEO Amin Nasser warns of growing consumption still dominated by hydrocarbons, despite massive global energy transition investments.

China’s crude oil imports rise 3.9% in September

China imported an average of 11.5 million barrels of crude oil per day in September, supported by higher refining rates among both state-run and independent operators.
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Unipec redirects supertanker to Ningbo after US sanctions
The New Vista vessel, loaded with Abu Dhabi crude, avoided Rizhao port after the United States sanctioned the oil terminal partly operated by a Sinopec subsidiary.
OPEC maintains demand forecast and lowers expected 2026 deficit
OPEC confirms its global oil demand growth forecasts and anticipates a much smaller deficit for 2026, due to increased production from OPEC+ members.

Croatia targets Russian stake in NIS to maintain oil flows

JANAF is interested in acquiring a 20 to 25% stake in NIS, as the Russian-owned share is now subject to US sanctions.
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Washington targets Iranian oil with new sanctions on phantom fleet
The US Treasury Department has imposed sanctions on more than 50 entities linked to Iranian oil exports, targeting Chinese refineries and vessels registered in Asia and Africa.
Les deux Soudans scellent un accord pétrolier malgré l’ombre des milices
Khartoum et Juba annoncent un mécanisme commun pour protéger les oléoducs transfrontaliers, sans clarifier le rôle des forces armées non étatiques qui contrôlent une partie des installations.

Namibia and McDermott join forces to train future oil workforce

The Namibian government signed an agreement with McDermott to strengthen local skills in offshore engineering and operations, aiming to increase oil sector local content to 15% by 2030.
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Nigeria inaugurates its first publicly funded floating oil terminal
Nigeria deploys a 2.2 million-barrel floating storage unit funded by public investment, strengthening sovereignty over oil exports and reducing losses from theft and infrastructure failures.
Bill C-5 fuels uncertainty over the future of pipelines in Canada
Despite open statements of dialogue, the federal government maintains an ambiguous regulatory framework that hinders interprovincial oil projects, leaving the industry in doubt.

Sintana Energy acquires Challenger Energy to strengthen offshore assets in Africa

Canada’s Sintana Energy acquires Challenger Energy in a $61mn all-share deal, targeting offshore exploration in Namibia and Uruguay. The move highlights growing consolidation among independent oil exploration firms.
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Exxon restarts catalytic cracking unit in Beaumont after technical failure
The 120,000-barrel-per-day catalytic cracking unit at the Beaumont site resumed operations after an unexpected shutdown caused by a technical incident earlier in the week.
Sudan and South Sudan sign agreement to secure oil infrastructure
An agreement was reached between Khartoum and Juba to protect key oil installations, as ongoing armed conflict continues to threaten crude flows vital to both economies.