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Pakistan's largest refiner, Pak Arab Refinery (PARCO), received permission to export around 50,000 tonnes of fuel oil this week due to weak domestic demand.
Pakistan's largest refiner, Pak Arab Refinery (PARCO), received permission to export around 50,000 tonnes of fuel oil this week due to weak domestic demand.
Iraq acknowledged that it had produced 184,000 barrels per day (b/d) above its OPEC+ quota in June, and pledged to offset this surplus by September 2025 through further production cuts.
Iraq acknowledged that it had produced 184,000 barrels per day (b/d) above its OPEC+ quota in June, and pledged to offset this surplus by September 2025 through further production cuts.
CNOOC Limited announces a significant breakthrough in Bohai Bay, setting a new productivity record for natural gas in the region.
CNOOC Limited announces a significant breakthrough in Bohai Bay, setting a new productivity record for natural gas in the region.
Russia could reinstate the fuel export ban in August if shortages worsen, according to Deputy Prime Minister Alexander Novak.
Russia could reinstate the fuel export ban in August if shortages worsen, according to Deputy Prime Minister Alexander Novak.
ExxonMobil plans to drill up to 30 wells for its seventh oil project in Guyana, named Hammerhead, targeting production in 2029 with increased daily capacity.
ExxonMobil plans to drill up to 30 wells for its seventh oil project in Guyana, named Hammerhead, targeting production in 2029 with increased daily capacity.
The first shipments of Senegalese crude oil from the Sangomar project are on their way to refineries in the Netherlands and Germany, marking a new era for the Senegalese economy.
The first shipments of Senegalese crude oil from the Sangomar project are on their way to refineries in the Netherlands and Germany, marking a new era for the Senegalese economy.
ConocoPhillips has received a second request for information from the Federal Trade Commission (FTC) regarding its $22.5 billion acquisition of Marathon Oil. Both companies are working with the FTC to examine the merger.
ConocoPhillips has received a second request for information from the Federal Trade Commission (FTC) regarding its $22.5 billion acquisition of Marathon Oil. Both companies are working with the FTC to examine the merger.
Bourbon Group CEO Gaël Bodénès receives a two-year suspended prison sentence and is banned from managing businesses in Equatorial Guinea, Cameroon and Nigeria.
Bourbon Group CEO Gaël Bodénès receives a two-year suspended prison sentence and is banned from managing businesses in Equatorial Guinea, Cameroon and Nigeria.
According to the International Energy Agency (IEA), global oil demand will grow moderately in 2024, mainly due to lower Chinese consumption and increased energy efficiency.
According to the International Energy Agency (IEA), global oil demand will grow moderately in 2024, mainly due to lower Chinese consumption and increased energy efficiency.
U.S. crude oil inventories fell by 3.4 million barrels last week, beating expectations. This drop is explained by the increased activity of American refineries, which are operating at 95.4% of their capacity.
U.S. crude oil inventories fell by 3.4 million barrels last week, beating expectations. This drop is explained by the increased activity of American refineries, which are operating at 95.4% of their capacity.