OPEC+ has authorized a gradual increase in Iraq's oil quota starting in April 2025, enabling the country to reach 4.11 million barrels per day by January 2026, amid strategic developments marked by the imminent reopening of the Iraq-Turkey pipeline.
OPEC+ has authorized a gradual increase in Iraq's oil quota starting in April 2025, enabling the country to reach 4.11 million barrels per day by January 2026, amid strategic developments marked by the imminent reopening of the Iraq-Turkey pipeline.
Ecuadorian president Daniel Noboa has threatened not to sign the development contract for the Sacha oil field unless a $1.5bn deposit is paid within six days by the Sino-Canadian consortium.
Ecuadorian president Daniel Noboa has threatened not to sign the development contract for the Sacha oil field unless a $1.5bn deposit is paid within six days by the Sino-Canadian consortium.
Venezuelan President Nicolas Maduro has warned Guyana and ExxonMobil against any oil exploration in the contested Essequibo region. He stated that Venezuela would take "all necessary measures" to stop these activities.
Venezuelan President Nicolas Maduro has warned Guyana and ExxonMobil against any oil exploration in the contested Essequibo region. He stated that Venezuela would take "all necessary measures" to stop these activities.
Petro-Victory Energy Corp. and Blue Oak Investments have reached an agreement to acquire Capixaba Energia LTDA, an integrated onshore production company in Brazil, aimed at expanding their presence in the country's oil and gas sector.
Petro-Victory Energy Corp. and Blue Oak Investments have reached an agreement to acquire Capixaba Energia LTDA, an integrated onshore production company in Brazil, aimed at expanding their presence in the country's oil and gas sector.
McDermott successfully completes EPCIC works for Shell Offshore Inc. in the Gulf of Mexico, enabling the start of oil production from the Whale platform.
McDermott successfully completes EPCIC works for Shell Offshore Inc. in the Gulf of Mexico, enabling the start of oil production from the Whale platform.
South Sudan's Minister of Petroleum, Puot Kang Chol, was arrested on the night of March 4-5, exacerbating tensions between supporters of President Salva Kiir and those of Vice President Riek Machar.
South Sudan's Minister of Petroleum, Puot Kang Chol, was arrested on the night of March 4-5, exacerbating tensions between supporters of President Salva Kiir and those of Vice President Riek Machar.
Increased competition between Dangote’s refinery and NNPC has led to a significant reduction in petrol prices in Nigeria, providing economic relief to consumers.
Increased competition between Dangote’s refinery and NNPC has led to a significant reduction in petrol prices in Nigeria, providing economic relief to consumers.
Washington has ordered Chevron to cease its operations in Venezuela by April 3, a decision that could have significant implications for the global oil market, according to analysts.
Washington has ordered Chevron to cease its operations in Venezuela by April 3, a decision that could have significant implications for the global oil market, according to analysts.
Opec+ has reaffirmed its plan for a gradual increase in oil production starting from April 2025, a decision that has led to a drop in oil prices, particularly Brent. This strategy marks a shift in the cartel’s approach.
Opec+ has reaffirmed its plan for a gradual increase in oil production starting from April 2025, a decision that has led to a drop in oil prices, particularly Brent. This strategy marks a shift in the cartel’s approach.
Evolution Petroleum has announced the acquisition of non-operated assets across three US states, representing a net production of 440 barrels of oil equivalent per day, for a purchase price of $9 million.
Evolution Petroleum has announced the acquisition of non-operated assets across three US states, representing a net production of 440 barrels of oil equivalent per day, for a purchase price of $9 million.
The US government has announced a 10% tariff on oil imports from Canada and a 25% tariff on those from Mexico, effective from March 4. This decision will directly affect the refining sector in the United States.
The US government has announced a 10% tariff on oil imports from Canada and a 25% tariff on those from Mexico, effective from March 4. This decision will directly affect the refining sector in the United States.
Predator Oil continues its work in Guercif, Morocco, with the drilling of the MOU-5 well. The goal is to assess the estimated 6 TCF reserves as part of the national effort to secure gas supply.
Predator Oil continues its work in Guercif, Morocco, with the drilling of the MOU-5 well. The goal is to assess the estimated 6 TCF reserves as part of the national effort to secure gas supply.
VAALCO continues its expansion in West Africa with the acquisition of a 70% stake in the offshore CI-705 block in Côte d'Ivoire and an ambitious plan to double its crude production in Gabon by 2026.
VAALCO continues its expansion in West Africa with the acquisition of a 70% stake in the offshore CI-705 block in Côte d'Ivoire and an ambitious plan to double its crude production in Gabon by 2026.
Ecuador has granted a concession for its main oil field, Sacha, to a consortium formed by Sinopec and New Stratus Energy. The contract, to be signed in April, aims for a significant production increase within three years.
Ecuador has granted a concession for its main oil field, Sacha, to a consortium formed by Sinopec and New Stratus Energy. The contract, to be signed in April, aims for a significant production increase within three years.
The Saudi oil giant Aramco experienced a significant decline in profits in 2024, attributed to falling oil prices, reduced production, and higher operating costs.
The Saudi oil giant Aramco experienced a significant decline in profits in 2024, attributed to falling oil prices, reduced production, and higher operating costs.
Oil prices dropped this Tuesday after Opec+’s decision to maintain its plan of gradual production increases starting in April, despite calls from the US president to reduce energy prices.
Oil prices dropped this Tuesday after Opec+’s decision to maintain its plan of gradual production increases starting in April, despite calls from the US president to reduce energy prices.
Despite major withdrawals, Chevron remains committed to deepwater exploration in Nigeria, with expansion projects aimed at boosting its offshore production in the coming years.
Despite major withdrawals, Chevron remains committed to deepwater exploration in Nigeria, with expansion projects aimed at boosting its offshore production in the coming years.
The cancellation of Chevron's operating licence in Venezuela, announced by the Trump administration, could exacerbate the country's economic crisis while redefining its relations with the United States. Experts are considering several scenarios regarding the next developments.
The cancellation of Chevron's operating licence in Venezuela, announced by the Trump administration, could exacerbate the country's economic crisis while redefining its relations with the United States. Experts are considering several scenarios regarding the next developments.
Mexican state-owned oil company Pemex has reported a net loss of $30.3bn in 2024, following a profit in 2023, due to a decline in sales and an increase in operating costs.
Mexican state-owned oil company Pemex has reported a net loss of $30.3bn in 2024, following a profit in 2023, due to a decline in sales and an increase in operating costs.
Namibia has announced new discoveries at the Mopane oil field offshore. This development could accelerate the country's ambitions to become a crude oil producer by 2029.
Namibia has announced new discoveries at the Mopane oil field offshore. This development could accelerate the country's ambitions to become a crude oil producer by 2029.
Several major European oil companies, including BP, are adjusting their climate strategies, reducing investments in renewable energy to focus on increasing oil and gas production in order to improve their profitability.
Several major European oil companies, including BP, are adjusting their climate strategies, reducing investments in renewable energy to focus on increasing oil and gas production in order to improve their profitability.
Donald Trump revoked a license granted to Chevron to exploit oil in Venezuela, condemning Caracas for failing to uphold migrant repatriation agreements. This decision could affect Venezuela’s oil industry and trade relations between the two countries.
Donald Trump revoked a license granted to Chevron to exploit oil in Venezuela, condemning Caracas for failing to uphold migrant repatriation agreements. This decision could affect Venezuela’s oil industry and trade relations between the two countries.
British oil giant BP will present a strategic revision on Wednesday, marked by a shift back to fossil fuels and a reduction in renewable energy investments, following a sharp decline in net profit last year.
British oil giant BP will present a strategic revision on Wednesday, marked by a shift back to fossil fuels and a reduction in renewable energy investments, following a sharp decline in net profit last year.
Niger has shipped more than 14 million barrels of crude oil through Benin despite diplomatic tensions. The China National Petroleum Corporation manages extraction and holds a significant share of the exported volumes.
Niger has shipped more than 14 million barrels of crude oil through Benin despite diplomatic tensions. The China National Petroleum Corporation manages extraction and holds a significant share of the exported volumes.
Brazil, one of the world's leading oil producers, is tightening regulations on offshore exploration and production, impacting the industry and investments. The measures aim to enhance safety and limit environmental impacts.
Brazil, one of the world's leading oil producers, is tightening regulations on offshore exploration and production, impacting the industry and investments. The measures aim to enhance safety and limit environmental impacts.
Algeria is preparing a new call for tenders for the allocation of oil and gas blocks, scheduled for October 2025. This programme aims to attract international investments and strengthen national hydrocarbon production in a context of strong energy demand.
Algeria is preparing a new call for tenders for the allocation of oil and gas blocks, scheduled for October 2025. This programme aims to attract international investments and strengthen national hydrocarbon production in a context of strong energy demand.
