Europe's once-thriving refining industry is gearing up for a historic capacity reduction, driven by the pressures of the energy transition and falling margins.
Europe's once-thriving refining industry is gearing up for a historic capacity reduction, driven by the pressures of the energy transition and falling margins.
Ecuador and Chilean subsidiary ENAP SIPEC have renegotiated an agreement to operate an oil block in the Ecuadorian Amazon, providing for an additional investment of $90 million until 2035.
Ecuador and Chilean subsidiary ENAP SIPEC have renegotiated an agreement to operate an oil block in the Ecuadorian Amazon, providing for an additional investment of $90 million until 2035.
The oil tanker Ceres 1, involved in a collision with the Hafnia Nile, was intercepted by the Malaysian Coast Guard, raising questions about its disappearance.
The oil tanker Ceres 1, involved in a collision with the Hafnia Nile, was intercepted by the Malaysian Coast Guard, raising questions about its disappearance.
Ukraine has interrupted the transit of Lukoil oil to Slovakia and Hungary, heightening tensions over the supply of Russian oil to Europe via the Druzhba pipeline.
Ukraine has interrupted the transit of Lukoil oil to Slovakia and Hungary, heightening tensions over the supply of Russian oil to Europe via the Druzhba pipeline.
Saudi Arabia and Russia reaffirm their commitment to the OPEC+ agreement to stabilize the oil market, despite geopolitical challenges and Western sanctions.
Saudi Arabia and Russia reaffirm their commitment to the OPEC+ agreement to stabilize the oil market, despite geopolitical challenges and Western sanctions.
Experts are calling for a serious debate on the exploitation of unconventional resources in Mexico, believing that neglecting this opportunity would be a major strategic error.
Experts are calling for a serious debate on the exploitation of unconventional resources in Mexico, believing that neglecting this opportunity would be a major strategic error.
U.S. crude oil inventories fell by 4.9 million barrels, far exceeding analysts' forecasts. This decrease reflects a continuing trend despite an increase in refined product reserves.
U.S. crude oil inventories fell by 4.9 million barrels, far exceeding analysts' forecasts. This decrease reflects a continuing trend despite an increase in refined product reserves.
ExxonMobil and its partners launch the Hammerhead project in Guyana, targeting production of 120,000 to 180,000 barrels per day and incorporating up to 30 wells.
ExxonMobil and its partners launch the Hammerhead project in Guyana, targeting production of 120,000 to 180,000 barrels per day and incorporating up to 30 wells.
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.
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.
BP announces "unfavorable adjustments" of $1-2 billion in the second quarter of 2024, mainly due to the transformation of its Gelsenkirchen refinery in Germany.
BP announces "unfavorable adjustments" of $1-2 billion in the second quarter of 2024, mainly due to the transformation of its Gelsenkirchen refinery in Germany.
