Robinson DUVERNOY

Lukoil puts pressure on Sofia to finalise refinery divestment

Russian group Lukoil seeks to sell its assets in Bulgaria after the state placed its refinery under special administration, amid heightened US sanctions against the Russian oil industry.

Washington launches new sale of 80 million offshore oil acres

US authorities will hold a large offshore oil block sale in the Gulf of America in March, covering nearly 80 million acres under favourable fiscal terms.

Sinopec to invest $437 million in hydrotreatment unit in Algeria

Sonatrach awarded Chinese company Sinopec a contract to build a new hydrotreatment unit in Arzew, aimed at significantly increasing the country's gasoline production.
en_114019191139540

Chevron in advanced talks to acquire Lukoil’s international assets

The American major could take over part of Lukoil’s non-Russian portfolio, under strict oversight from the U.S. administration, following the collapse of a deal with Swiss trader Gunvor.

Lukoil shuts down 430 petrol stations in Finland under US sanctions pressure

Finnish fuel distributor Teboil, owned by Russian group Lukoil, will gradually cease operations as fuel stocks run out, following economic sanctions imposed by the United States.

Exxon to close its ethylene plant in Scotland amid market pressures

ExxonMobil will shut down its Fife chemical site in February 2026, citing high costs, weak demand and a UK regulatory environment unfavourable to industrial investment.
en_1140290970540

Orlen acquires 7.6% of Ekofisk project as DNO reallocates assets

Polish state-owned group Orlen strengthens its North Sea presence by acquiring DNO’s stake in Ekofisk, while the Norwegian company shifts focus to fast-return projects.

Syria signs strategic oil deal with ConocoPhillips and Nova Terra Energy

The Syrian Petroleum Company has signed a memorandum of understanding with ConocoPhillips and Nova Terra Energy to develop gas fields and boost exploration amid ongoing energy shortages.

Fincraft offers revised C$1.75 per share bid to acquire Tethys Petroleum

Fincraft Group LLP, a major shareholder of Tethys Petroleum, submitted a non-binding proposal to acquire all remaining shares, offering a 106% premium over the September trading price.
en_1140290978540

China increases crude oil stockpiles in October as prices stabilise

As global oil prices slowed, China raised its crude stockpiles in October, taking advantage of a growing gap between imports, domestic production and refinery processing.

Kuwait Petroleum Corporation secures record KWD1.5bn loan to support expansion strategy

Kuwait Petroleum Corporation has signed a syndicated financing agreement worth KWD1.5bn ($4.89bn), marking the largest ever local-currency deal arranged by Kuwaiti banks.

Benin receives offshore unit to relaunch the Sèmè oil field

The Beninese government has confirmed the availability of a mobile offshore production unit, marking an operational milestone toward resuming activity at the Sèmè oil field, dormant for more than two decades.
en_1140180826540-1

Baghdad seeks to preserve oil production despite sanctions targeting Lukoil

The Iraqi Prime Minister met with the founder of Lukoil to secure continued operations at the giant West Qurna-2 oil field, in response to recent US-imposed sanctions.

Pertamina increases imports to meet gasoline demand

The sustained rise in consumption of high-octane gasoline pushes Pertamina to supplement domestic supply with new imported cargoes to stabilise stock levels.

CRR acquires 53 km of oilfield road infrastructure from Islander in Alberta

Canadian group CRR acquires a strategic 53-kilometre road network north of Slave Lake from Islander Oil & Gas to support oil development in the Clearwater region.
en_114017171129540

Kazakhstan denies any plan to acquire Lukoil’s local assets

Kazakhstan’s energy minister dismissed any ongoing talks between the government and Lukoil regarding the potential purchase of its domestic assets, despite earlier comments from a KazMunayGas executive.

OPEC and GECF warn of structural deficit in global energy market

OPEC and the Gas Exporting Countries Forum warn that chronic underinvestment could lead to lasting supply tensions in oil and gas, as demand continues to grow.

Popular support for oil exploration rises sharply in Norway

A national barometer shows that 62% of Norwegians support maintaining the current level of hydrocarbon exploration, confirming an upward trend in a sector central to the country’s economy.
en_114017171141540

ShaMaran delivers first “in kind” cargo to Ceyhan under new Iraqi federal framework

ShaMaran has shipped a first cargo of crude oil from Ceyhan, marking the implementation of the in-kind payment mechanism established between Baghdad, Erbil, and international oil companies following the partial resumption of exports through the Iraq–Türkiye pipeline.

TGS launches 14,800 km² seismic survey in Brazil’s Pelotas Basin

Norwegian group TGS begins Phase I of its multi-client seismic survey in the Pelotas Basin, covering 21 offshore blocks in southern Brazil, with support from industry funding.