British company BP appoints Meg O'Neill as CEO to lead its strategic refocus on fossil fuels, following the abandonment of its climate ambitions and the early departure of Murray Auchincloss.
The Venezuelan national oil company has confirmed the continuity of its crude exports, as the United States enforces a maritime blockade targeting sanctioned vessels operating around the country.
The United States has implemented a full blockade on sanctioned tankers linked to Venezuela, escalating restrictions on the South American country's oil flows.
Deliveries of energy petroleum products fell by 4.5% in November, driven down by a sharp decline in diesel, while jet fuel continues its growth beyond pre-pandemic levels.
ReconAfrica is finalising preparations to test the Kavango West 1X well in Namibia, while expanding its portfolio in Angola and Gabon to strengthen its presence in sub-Saharan Africa.
Shell has reopened a divestment process for its 37.5% stake in Germany's PCK Schwedt refinery, reviving negotiations disrupted by the Russia-Ukraine conflict and Western sanctions.
Aliko Dangote accuses Nigeria’s oil regulator of threatening local refineries by enabling refined fuel imports, while calling for a corruption probe against its director.
Shell Offshore approves a strategic investment to extend the life of the Kaikias field through a waterflood operation, with first injection planned for 2028 from the Ursa platform.
Oil prices drop amid progress in Ukraine talks and expectations of oversupply, pushing West Texas Intermediate below $55 for the first time in nearly five years.
The US energy group plans to allocate $1.3bn to growth and $1.1bn to asset maintenance, with a specific focus on natural gas liquids and refining projects.
Venezuelan state oil group PDVSA claims it was targeted by a cyberattack attributed to foreign interests, with no impact on main operations, amid rising tensions with the United States.
BUTEC has finalised the financing of a 50 MW emergency power project in Burkina Faso, structured under a BOOT contract and backed by Banque Centrale Populaire Group.
BW Energy has signed a long-term lease agreement with Minsheng Financial Leasing for its Maromba B platform, covering $274mn of the project’s CAPEX, with no payments due before first oil.
Shell will restart offshore exploration on Namibia’s PEL 39 block in April 2026 with a five-well drilling programme targeting previously discovered zones, despite a recent $400mn impairment.
Iranian authorities intercepted a vessel suspected of fuel smuggling off the coast of the Gulf of Oman, with 18 South Asian crew members on board, according to official sources.
Harbour Energy will acquire Waldorf Energy Partners’ North Sea assets for $170mn, increasing its stakes in the Catcher and Kraken fields, while Capricorn Energy settles part of its claims.
The United States intercepted an oil tanker loaded with Venezuelan crude and imposed new sanctions on maritime entities, increasing pressure on Nicolas Maduro’s regime and its commercial networks in the Caribbean.
OPEC expects crude demand from its members to reach 43 million barrels per day in 2026, nearly matching current OPEC+ output, contrasting with oversupply forecasts from other institutions.
Sanctioned tanker Kairos, abandoned after a Ukrainian drone attack, ran aground off Bulgaria’s coast, exposing growing legal and operational risks tied to Russia’s shadow fleet in the Black Sea.
The United States is temporarily licensing Lukoil’s operations outside Russia, blocking all financial flows to Moscow while facilitating the supervised sale of a portfolio valued at $22bn, without disrupting supply for allied countries.
Libya’s state oil firm NOC plans to launch a licensing round for 20 blocks in early 2026, amid mounting legal, political and financial uncertainties for international investors.
European sanctions on Russia and refinery outages in the Middle East have sharply reduced global diesel supply, driving up refining margins in key markets.
L’arrêt de la raffinerie de Pancevo, frappée par des sanctions américaines contre ses actionnaires russes, menace les recettes fiscales, l’emploi et la stabilité énergétique de la Serbie.
Oil prices climbed, driven by Ukrainian strikes on Russian infrastructure and the lack of diplomatic progress between Moscow and Washington over the Ukraine conflict.
Chevron has announced a capital expenditure range of $18 to $19 billion for 2026, focusing on upstream operations in the United States and high-potential international offshore projects.
ExxonMobil is shutting down its oldest ethylene steam cracker in Singapore, reducing local capacity to invest in its integrated Huizhou complex in China, amid regional overcapacity and rising operational costs.
Brazil, Guyana, Suriname and Argentina are expected to provide a growing share of non-OPEC+ oil supply, backed by massive offshore investments and continued exploration momentum.
The revocation of US licences limits European companies’ operations in Venezuela, triggering a collapse in crude oil imports and a reconfiguration of bilateral energy flows.
Bourbon has signed an agreement with ExxonMobil for the charter of next-generation Crewboats on Angola’s Block 15, strengthening a strategic cooperation that began over 15 years ago.
Faced with tighter legal frameworks and reinforced sanctions, grey fleet operators are turning to 15-year-old VLCCs and scrapping older vessels to secure oil routes to Asia.
Reconnaissance Energy Africa completed drilling at the Kavango West 1X onshore well in Namibia, where 64 metres of net hydrocarbon pay were detected in the Otavi carbonate section.
CNOOC Limited has started production at the Weizhou 11-4 oilfield adjustment project and its satellite fields, targeting 16,900 barrels per day by 2026.
The Adura joint venture merges Shell and Equinor’s UK offshore assets, becoming the leading independent oil and gas producer in the mature North Sea basin.
A Delaware court approved the sale of PDV Holding shares to Elliott’s Amber Energy for $5.9bn, a deal still awaiting a U.S. Treasury licence through OFAC.
A new $100mn fund has been launched to support Nigerian oil and gas service companies, as part of a national target to reach 70% local content by 2027.
Western measures targeting Rosneft and Lukoil deeply reorganise oil trade, triggering a discreet yet massive shift of Russian export routes to Asia without causing global supply disruption.
The Nigerian Upstream Petroleum Regulatory Commission opens bidding for 50 exploration blocks across strategic zones to revitalise upstream investment.
La Nigerian Upstream Petroleum Regulatory Commission ouvre la compétition pour 50 blocs d’exploration, répartis sur plusieurs zones stratégiques, afin de relancer les investissements dans l’amont pétrolier.
