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International Petroleum accelerates Blackrod and completes USD 450mn bond refinancing
International Petroleum Corporation exceeded its operational targets in the third quarter, strengthened its financial position and brought forward production from its Blackrod project in Canada.
DNO strengthens position in Verdande through asset swap with Aker BP
Norwegian firm DNO increases its stake in the developing Verdande field by offloading non-core assets to Aker BP in a cash-free transaction.

TAG Oil secures three-year extension to evaluate BED-1 oil field in Egypt

TAG Oil extends the BED-1 evaluation period until October 2028, committing to drill two new wells before deciding on full-scale development of the Abu Roash F reservoir.
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Expro deploys its ELITE Composition™ service on offshore well in Cyprus
Expro delivered its new on-site fluid analysis service for a major oil operator in Cyprus, cutting turnaround times from several months to just hours during an exploration drilling campaign in the Eastern Mediterranean.
Sinopec signs $40.9bn in deals during 2025 China International Import Expo
Sinopec finalised supply agreements worth $40.9bn with 34 foreign companies at the 2025 China International Import Expo, reinforcing its position in the global petroleum and chemical trade.

Gunvor rules out resale of Lukoil assets to Russia after acquisition

Commodities trader Gunvor confirmed that the assets acquired from Lukoil will not return under Russian control, despite potential sanction relief, amid growing regulatory pressure.
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Esso France shareholders approve sale to North Atlantic and €774mn dividend
Esso France shareholders, mostly controlled by ExxonMobil, approved the sale to Canadian group North Atlantic and a €774mn special dividend set for payment on 12 November.
Marathon Petroleum Misses Its Targets Due to Increased Maintenance Costs
Marathon Petroleum missed its adjusted profit forecast for Q3 due to a significant rise in maintenance costs, despite stronger refining margins, sending its shares down more than 7% in pre-market trading.

TotalEnergies forecasts rising oil demand until 2040 despite energy transition slowdown

TotalEnergies anticipates a continued increase in global oil demand until 2040, followed by a gradual decline, due to political challenges and energy security concerns slowing efforts to cut emissions.
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Western sanctions disrupt Lukoil’s international operations
Sanctions imposed by the U.S. and the U.K. are paralyzing Lukoil's operations in Iraq, Finland, and Switzerland, putting its foreign businesses and local partners at risk.
Sunoco finalises the acquisition of Parkland Corporation and prepares for New York listing
Texas-based Sunoco has completed the acquisition of Canadian company Parkland Corporation, paving the way for a New York Stock Exchange listing through SunocoCorp starting November 6.

bp divests non-controlling interests in US onshore midstream assets for $1.5 billion

BP sells non-controlling stakes in its Permian and Eagle Ford midstream infrastructure to Sixth Street for $1.5 billion while retaining operational control.
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Shell secures exclusive negotiation rights on three offshore oil blocks in Angola
Angola enters exclusive negotiations with Shell for the development of offshore blocks 19, 34, and 35, a strategic initiative aimed at stabilizing its oil production around one million barrels per day.
Chad aims to double its oil production to 250,000 barrels per day by 2030
Faced with declining production, Chad is betting on an ambitious strategy to double its oil output by 2030, relying on public investments in infrastructure and sector governance.

Two SANAD Drilling Rigs to Resume Operations in Saudi Arabia by Mid-2026

The SANAD drilling joint venture will resume operations with two suspended rigs, expected to restart in March and June 2026, with contract extensions equal to the suspension period.
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Dragon Oil and PETRONAS Forge Strategic Oil Exploration Agreement
Dragon Oil, a subsidiary of Emirates National Oil Company, partners with PETRONAS to enhance technical and commercial cooperation in oil and gas exploration and production.
Canadian Natural Takes Full Control of Albian Mines After Asset Swap with Shell
Canadian Natural Resources has finalized a strategic asset swap with Shell, gaining 100% ownership of the Albian mines and enhancing its capabilities in oil sands without any cash payment.

Imperial sees quarterly net income drop 56% despite record production

Canadian producer Imperial posted net income of CAD539mn in the third quarter, down year-on-year, impacted by exceptional charges despite record production and higher cash flows.
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Chevron outperforms despite 21% drop in quarterly profit
The US oil giant beat market forecasts in the third quarter, despite declining results and a context marked by falling hydrocarbon prices.
Vallourec secures over 20,000-ton pipeline contract in Brazil
The French group will supply carbon steel pipelines to TechnipFMC for the offshore Orca project, strengthening its strategic position in the Brazilian market.
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CPV secures $1.1bn funding for 1,350 MW gas-fired power plant in Texas
Washington invests $100mn to modernise coal plants as exports drop 11%
Shell transfers $8.4bn in debt to its U.S. subsidiary
Gibson Energy sets throughput record across terminals in Q3 2025
Nankai Electric Railway signs PPA for 2MW floating solar power plant
Pemex cuts crude output but increases refining in third quarter
The Mexican state-owned company reduced its crude extraction by 6.7% while boosting its refining activity by 4.8%, and narrowed its financial losses compared to the previous year.
Washington’s shift on Chevron disrupts Venezuela’s oil economy
The new US licence granted to Chevron significantly alters financial flows between Venezuela and the United States, affecting the local currency, oil revenues and the country's economic balance.

Three Crown boosts output with 752 boe/d well in Wyoming

Three Crown Petroleum reports a steady initial flow rate of 752 barrels of oil equivalent per day from its Irvine 1NH well in the Powder River Basin, marking a key step in its horizontal drilling programme in the Niobrara.
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Cenovus revises terms of MEG Energy acquisition and sells assets to Strathcona
Cenovus Energy adjusts its MEG Energy acquisition offer to $30 per share and signs a voting support agreement with Strathcona Resources, while selling assets worth up to CAD150mn.
Baghdad in talks over OPEC quota despite exports at 3.6 million barrels
Iraq is negotiating a potential revision of its OPEC production limit while maintaining exports at around 3.6 million barrels per day despite significantly higher capacity.

Orban attend des garanties énergétiques lors de sa rencontre avec Trump à Washington

Le Premier ministre hongrois se rendra à Washington pour discuter avec Donald Trump des sanctions américaines contre le pétrole russe, dans un contexte de guerre en Ukraine et de dépendance persistante de la Hongrie aux hydrocarbures russes.
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Aliko Dangote aims to make his refinery the world’s largest within three years
Nigerian tycoon Aliko Dangote plans to expand his refinery’s capacity to 1.4 million barrels per day, reshaping regional energy dynamics through an unmatched private-sector project in Africa.
COOEC wins $4bn QatarEnergy offshore field development contract
COOEC has signed a $4bn EPC contract with QatarEnergy to develop the offshore Bul Hanine oil field, marking the largest order ever secured by a Chinese company in the Gulf.

Borr Drilling ends two contracts in Mexico due to sanctions

The group terminates commitments for the Odin and Hild rigs in Mexico, initially scheduled through November 2025 and March 2026, due to sanctions affecting an involved counterparty, while reaffirming compliance with applicable international frameworks.
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Shell pursues ambitions in the Orange Basin despite court ruling
Shell has filed an appeal against the cancellation of its environmental authorisation for Block 5/6/7 off the South African coast, aiming to continue exploration in a geologically strategic offshore zone.
Chevron and Helleniq Energy secure four offshore exploration permits in Greece
The Greek government has selected a consortium led by Chevron to explore hydrocarbons in four maritime zones in the Ionian Sea and south of Crete, with geophysical surveys scheduled to begin in 2026.

Sonatrach resumes drilling in Libya after more than ten years of security-related halt

Algerian company Sonatrach has resumed exploration activities in Libya's Ghadames Basin, halted since 2014, as part of a strategic revival of the country's oil sector.
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Reliance reconfigures Jamnagar to prove the origin of fuels bound for the EU
The Indian refiner segments campaigns, strengthens documentary traceability and adjusts contracts to secure certified shipments to the European Union, while redirecting ineligible volumes to Africa and the Americas based on market conditions.
Washington extends operations of Talen’s oil-fired power unit through end of 2025
US authorities have authorised a unit at Talen Energy’s Wagner plant in Maryland to operate beyond regulatory limits until the end of 2025 to strengthen grid reliability.

Gran Tierra signs $200mn prepayment deal and adjusts debt structure in Colombia

Gran Tierra Energy has signed a crude oil sale agreement with a $200mn prepayment and amended its Colombian credit facility to improve financial flexibility.
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BP restarts Whiting refinery after power outage and fire
Operations at BP’s 440,000 barrel-per-day Whiting refinery have resumed following a temporary shutdown caused by a power outage and a minor fire incident.
The EU sanctions CNPC units as ESPO pipeline flows remain stable
The European Union targets a trading subsidiary and a refinery linked to China National Petroleum Corporation, tightening access to financial and insurance services without disrupting pipeline deliveries, with reallocations expected in settlements, insurance, and logistics. —

Hungary seeks to maintain Russian oil imports despite sanctions

Viktor Orban says he is working to bypass recent US sanctions targeting Rosneft and Lukoil, underscoring Hungary’s continued reliance on Russian hydrocarbons.
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India redirects its diesel to Africa and Brazil ahead of 2026
Traceability requirements from the EU (European Union) on fuel origin are reshaping Indian refined flows, with a shift toward Africa and Brazil supported by local premiums and a decline in Russian exports.
Washington hits Rosneft and Lukoil, EU tightens, Brent climbs
U.S. sanctions targeting Rosneft and Lukoil trigger a rebound in oil, while the European Union prepares a clampdown on liquefied natural gas and maritime logistics, with immediate repercussions for markets and Russia’s export chain.