BP

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 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.

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.
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Portuguese energy group Galp plans to finalise a strategic partnership for its offshore oil project Mopane in Namibia before the end of the year.
A traditional leader from the Niger Delta is seeking compensation before Shell’s onshore asset sale, citing decades of unaddressed pollution in his kingdom.

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. —
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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 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.

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.
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The Brazilian government has approved an offshore drilling project led by Petrobras in the Equatorial Margin region, weeks before COP30 in Belém.
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.

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.
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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.
Washington ties the removal of additional duties to a verifiable decline in India’s imports of Russian crude, while New Delhi cites already-committed orders and supply stability for the domestic market.

China cuts its oil surplus to 570,000 barrels per day and prepares a cycle of strategic purchases

The decline in imports and the rise in refining in September reduced China’s crude surplus to its lowest in eight months, opening the way for tactical buying as Brent slips below 61 dollars.
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Chinese executive Zhou Xinhuai, 54, resigned from his post as chief executive of CNOOC Limited after holding the role since April 2022. A strategic reorganization is underway.
Texas-based SM Energy gains full support from its banking syndicate, maintaining a $3bn borrowing base and easing short-term debt maturity terms.

Aker BP and Halliburton complete first umbilical-less subsea tubing hanger installation

Halliburton and Aker BP have completed the first umbilical-less tubing hanger installation on the Norwegian continental shelf, paving the way for digitised offshore operations with reduced infrastructure.
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The US group has finalised operations at the Begonia field, marking its first offshore deepwater intervention in Angola’s Block 17/06, located 150 kilometres off the coast.
Prolonged attacks on fuel convoys have depleted stocks, destabilised power generation and disrupted economic activity in Bamako and surrounding regions.
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.
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.
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JANAF is interested in acquiring a 20 to 25% stake in NIS, as the Russian-owned share is now subject to US sanctions.
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.
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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.
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.
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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.
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.
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Alnaft has signed two study agreements with Omani firm Petrogas E&P on the Touggourt and Berkine basins, aiming to update hydrocarbon potential in key oil-producing areas.
Import quotas exhaustion and falling demand push Chinese independent refineries to sharply reduce Iranian crude volumes, affecting supply levels and putting downward pressure on prices.

US sanctions hit NIS, a key player in Serbia’s oil market

Serbian oil company NIS, partially owned by Gazprom, faces newly enforced US sanctions after a nine-month reprieve, testing the country's fuel supply chain.
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US-based Chevron appoints Kevin McLachlan, a veteran of TotalEnergies, as its global head of exploration, in a strategic move targeting Nigeria, Angola and Namibia.
Lycos Energy finalises the sale of its Alberta assets for $60mn, planning an immediate $47.9mn cash distribution to shareholders and the launch of a share buyback programme.

Russia increases oil production and nears OPEC+ quota

Russian oil output moved closer to its OPEC+ allocation in September, with a steady rise confirmed by Deputy Prime Minister Alexander Novak.
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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.