Azeri Chirag Gunashli complex

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Italian energy giant Eni has finalized the sale of its Alaskan oil fields to American firm Hilcorp for $1 billion, advancing its strategy of refocusing on strategic assets.
Italian energy giant Eni has finalized the sale of its Alaskan oil fields to American firm Hilcorp for $1 billion, advancing its strategy of refocusing on strategic assets.
Saudi Arabia, Russia, and six other OPEC+ countries extend their production cuts by 2.2 million barrels per day until the end of December to support oil prices weakened by uncertain demand.
Saudi Arabia, Russia, and six other OPEC+ countries extend their production cuts by 2.2 million barrels per day until the end of December to support oil prices weakened by uncertain demand.
Saudi Aramco and PetroVietnam signed a collaboration agreement to strengthen their activities in refining and petrochemicals in Vietnam, marking a new phase of strategic energy cooperation.
Saudi Aramco and PetroVietnam signed a collaboration agreement to strengthen their activities in refining and petrochemicals in Vietnam, marking a new phase of strategic energy cooperation.
The World Bank predicts an oil surplus that should drive down commodity prices despite tensions in the Middle East. Demand in China is slowing, contributing to this unprecedented imbalance.
The World Bank predicts an oil surplus that should drive down commodity prices despite tensions in the Middle East. Demand in China is slowing, contributing to this unprecedented imbalance.
In Venezuela, five of the last eight Oil Ministers are imprisoned or on the run, accused of corruption. This strategic sector, vital to the country, is plagued by recurring scandals.
In Venezuela, five of the last eight Oil Ministers are imprisoned or on the run, accused of corruption. This strategic sector, vital to the country, is plagued by recurring scandals.
U.S. crude inventories are expected to increase by 800,000 barrels as refineries slow down, leading to reduced stocks of essential refined products like gasoline and distillates.
U.S. crude inventories are expected to increase by 800,000 barrels as refineries slow down, leading to reduced stocks of essential refined products like gasoline and distillates.
European energy giants Eni and BP resume onshore drilling activities in Libya after ten years, as the country seeks to double its oil production within five years.
European energy giants Eni and BP resume onshore drilling activities in Libya after ten years, as the country seeks to double its oil production within five years.
OMV, the Austrian energy giant, exceeds forecasts for the third quarter of 2024, driven by its chemical division, which offsets declining results in the fuel and raw materials sector.
OMV, the Austrian energy giant, exceeds forecasts for the third quarter of 2024, driven by its chemical division, which offsets declining results in the fuel and raw materials sector.
BP reports a 30% drop in profit for the third quarter of 2024, impacted by a decline in global oil demand and reduced refining margins. How is the energy giant responding to these new challenges?
BP reports a 30% drop in profit for the third quarter of 2024, impacted by a decline in global oil demand and reduced refining margins. How is the energy giant responding to these new challenges?
Ghana plans to source petroleum products from Nigeria's Dangote refinery, aiming to reduce its monthly fuel import bill, estimated at $400 million.
Ghana plans to source petroleum products from Nigeria's Dangote refinery, aiming to reduce its monthly fuel import bill, estimated at $400 million.
The Thali oil project of Tower Resources in Cameroon receives a major financing offer that could unlock crucial advancements, conditional on obtaining an essential license extension.
The Thali oil project of Tower Resources in Cameroon receives a major financing offer that could unlock crucial advancements, conditional on obtaining an essential license extension.
Canadian company Zimar Inc has signed an agreement to develop a modular refinery in Niger, aiming to increase the country’s oil processing capacity and stimulate refined product exports.
Canadian company Zimar Inc has signed an agreement to develop a modular refinery in Niger, aiming to increase the country’s oil processing capacity and stimulate refined product exports.
CNOOC Limited, a Chinese oil and gas company, reports record growth in production and net profit for the first three quarters of 2024, marking unprecedented performance despite an unstable external environment.
CNOOC Limited, a Chinese oil and gas company, reports record growth in production and net profit for the first three quarters of 2024, marking unprecedented performance despite an unstable external environment.
Galp has launched a new drilling phase to assess the potential of Mopane, off the coast of Namibia, marking a turning point for the development of what could become the country’s largest oil discovery.
Galp has launched a new drilling phase to assess the potential of Mopane, off the coast of Namibia, marking a turning point for the development of what could become the country’s largest oil discovery.
African economies dependent on oil are stagnating, growing at half the rate of the rest of the region. The IMF highlights a lack of diversification and investment as key factors behind this lag.
African economies dependent on oil are stagnating, growing at half the rate of the rest of the region. The IMF highlights a lack of diversification and investment as key factors behind this lag.
Benin intensifies efforts to attract investors in the offshore oil sector. TGS begins 3D seismic surveys to identify new offshore oil prospects in Beninese waters.
Benin intensifies efforts to attract investors in the offshore oil sector. TGS begins 3D seismic surveys to identify new offshore oil prospects in Beninese waters.
Kerosene demand in Asia remains strong, reinforcing its position over diesel, despite the massive arrival of cargoes from India and the Middle East, which could reverse this trend.
Kerosene demand in Asia remains strong, reinforcing its position over diesel, despite the massive arrival of cargoes from India and the Middle East, which could reverse this trend.
In September, Brazil replaced Malaysia as the top supplier of blended bitumen to China, due to banking restrictions and new trade opportunities with Latin American countries.
In September, Brazil replaced Malaysia as the top supplier of blended bitumen to China, due to banking restrictions and new trade opportunities with Latin American countries.
BW Energy plans to reach a production of 40,000 barrels per day off the coast of Gabon by the end of 2024, thanks to an intensive drilling campaign in the Dussafu block.
BW Energy plans to reach a production of 40,000 barrels per day off the coast of Gabon by the end of 2024, thanks to an intensive drilling campaign in the Dussafu block.
Venezuela has arrested the former oil minister and ex-CEO of PDVSA over accusations of collaborating with U.S. intelligence, sparking new political tensions in the country.
Venezuela has arrested the former oil minister and ex-CEO of PDVSA over accusations of collaborating with U.S. intelligence, sparking new political tensions in the country.
South Sudan has resumed its crude oil exports via Sudan after a prolonged halt due to technical issues. This restart marks a crucial step for the country’s struggling economy.
South Sudan has resumed its crude oil exports via Sudan after a prolonged halt due to technical issues. This restart marks a crucial step for the country’s struggling economy.
The Gabon Oil Company (GOC) strengthens its position in the oil sector by purchasing 15% of Baudroie shares, previously owned by TotalEnergies. This acquisition aims to increase national production.
The Gabon Oil Company (GOC) strengthens its position in the oil sector by purchasing 15% of Baudroie shares, previously owned by TotalEnergies. This acquisition aims to increase national production.
WTI Midland crude from the Permian Basin has become too light for refining infrastructure, posing significant challenges for producers and refineries. This directly impacts margins and international demand.
WTI Midland crude from the Permian Basin has become too light for refining infrastructure, posing significant challenges for producers and refineries. This directly impacts margins and international demand.
An oil spill of 30-40 tonnes was contained by Shell at Bukom, Singapore, without affecting operations. The company is collaborating with the authorities for clean-up while continuing its local restructuring.
An oil spill of 30-40 tonnes was contained by Shell at Bukom, Singapore, without affecting operations. The company is collaborating with the authorities for clean-up while continuing its local restructuring.
Canadian Natural Resources Ltd strengthens its export capacity by increasing its share on the Trans Mountain pipeline following the acquisition of new assets from Chevron. This strategic move aims to diversify markets and secure oil flows to the Asia-Pacific region.
Canadian Natural Resources Ltd strengthens its export capacity by increasing its share on the Trans Mountain pipeline following the acquisition of new assets from Chevron. This strategic move aims to diversify markets and secure oil flows to the Asia-Pacific region.
Aramco's CEO, Amin Nasser, forecasts a stable global petroleum demand exceeding 100 million barrels per day by 2050, despite ongoing energy transition efforts and economic stimulus measures in key regions.
Aramco's CEO, Amin Nasser, forecasts a stable global petroleum demand exceeding 100 million barrels per day by 2050, despite ongoing energy transition efforts and economic stimulus measures in key regions.

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