Under the weight of Western sanctions, Iran is facing a severe energy crisis. Oil production continues to decline, jeopardizing exports and increasing domestic resource tensions.
Under the weight of Western sanctions, Iran is facing a severe energy crisis. Oil production continues to decline, jeopardizing exports and increasing domestic resource tensions.
Indonesia launches its second oil and gas bidding round of the year, featuring six onshore and offshore blocks with a combined potential of 48 billion barrels of oil equivalent. A major opportunity for international energy investors.
Indonesia launches its second oil and gas bidding round of the year, featuring six onshore and offshore blocks with a combined potential of 48 billion barrels of oil equivalent. A major opportunity for international energy investors.
Despite initial obstacles, Savannah Energy persists in its attempt to acquire Petronas' oil assets in South Sudan, exploring alternative options to finalize a beneficial agreement.
Despite initial obstacles, Savannah Energy persists in its attempt to acquire Petronas' oil assets in South Sudan, exploring alternative options to finalize a beneficial agreement.
The United States has imposed new sanctions on 35 Iranian ships accused of clandestinely exporting oil, aiming to curb revenues financing Tehran's nuclear program and regional activities.
The United States has imposed new sanctions on 35 Iranian ships accused of clandestinely exporting oil, aiming to curb revenues financing Tehran's nuclear program and regional activities.
U.S. refineries hit record activity levels, driving an unexpected drop in crude oil stocks, while national production reaches 13.51 million barrels per day.
U.S. refineries hit record activity levels, driving an unexpected drop in crude oil stocks, while national production reaches 13.51 million barrels per day.
Despite internal disagreements, OPEC+ decided to maintain its production cuts until March 2025, extending their gradual removal to avoid a price drop in an uncertain market environment.
Despite internal disagreements, OPEC+ decided to maintain its production cuts until March 2025, extending their gradual removal to avoid a price drop in an uncertain market environment.
CNOOC Limited inaugurates its Jinzhou 23-2 oil project, the first Chinese offshore heavy oil thermal recovery initiative, targeting peak production of 17,000 barrels of oil equivalent per day by 2027.
CNOOC Limited inaugurates its Jinzhou 23-2 oil project, the first Chinese offshore heavy oil thermal recovery initiative, targeting peak production of 17,000 barrels of oil equivalent per day by 2027.
Saudi Arabia may lower its oil prices for Asian markets in January, a potential strategy to respond to weak demand and growing regional competition. A decision still pending confirmation.
Saudi Arabia may lower its oil prices for Asian markets in January, a potential strategy to respond to weak demand and growing regional competition. A decision still pending confirmation.
PetroTal finalizes the purchase of Block 131, including all assets of CEPSA Peruana. This strategic acquisition aims to strengthen the company's production and reserves in Peru.
PetroTal finalizes the purchase of Block 131, including all assets of CEPSA Peruana. This strategic acquisition aims to strengthen the company's production and reserves in Peru.
HSFO premiums in Singapore fall in December as geopolitical tensions and limited demand from Chinese refineries signal persistent volatility in marine fuel markets.
HSFO premiums in Singapore fall in December as geopolitical tensions and limited demand from Chinese refineries signal persistent volatility in marine fuel markets.
For the week ending December 8, the United States is expected to become Brazil’s leading diesel supplier, delivering 6% more than Russia, according to preliminary data from S&P Global.
For the week ending December 8, the United States is expected to become Brazil’s leading diesel supplier, delivering 6% more than Russia, according to preliminary data from S&P Global.
The unexpected growth in Iranian oil exports, combined with slowing Chinese demand, disrupts the global tanker market as sanctioned fleets capture a growing share of maritime trade.
The unexpected growth in Iranian oil exports, combined with slowing Chinese demand, disrupts the global tanker market as sanctioned fleets capture a growing share of maritime trade.
Oil prices edge slightly lower ahead of the key OPEC+ meeting, while the Bank of Korea shocks markets with a second consecutive rate cut, signaling significant economic challenges in Asia.
Oil prices edge slightly lower ahead of the key OPEC+ meeting, while the Bank of Korea shocks markets with a second consecutive rate cut, signaling significant economic challenges in Asia.
The new HPCL Rajasthan Refinery Ltd. integrated refinery is set to transform India's petrochemical sector. With an annual capacity of 9 million tons, it aims to reduce petrochemical imports and increase refining margins.
The new HPCL Rajasthan Refinery Ltd. integrated refinery is set to transform India's petrochemical sector. With an annual capacity of 9 million tons, it aims to reduce petrochemical imports and increase refining margins.
The American bank anticipates a decline in Brent crude oil prices to $76 per barrel in 2025, driven by an oversupply in the global oil market, despite ongoing geopolitical tensions.
The American bank anticipates a decline in Brent crude oil prices to $76 per barrel in 2025, driven by an oversupply in the global oil market, despite ongoing geopolitical tensions.
TotalEnergies strengthens its strategy in South Africa with an environmental impact study for the Deep Water Orange Basin block, a strategic offshore area, despite persistent environmental controversies.
TotalEnergies strengthens its strategy in South Africa with an environmental impact study for the Deep Water Orange Basin block, a strategic offshore area, despite persistent environmental controversies.
Saudi, Russian, and Iraqi ministers met in Baghdad to discuss production quotas and oil market stability ahead of the crucial OPEC+ meeting scheduled for December 1.
Saudi, Russian, and Iraqi ministers met in Baghdad to discuss production quotas and oil market stability ahead of the crucial OPEC+ meeting scheduled for December 1.
The Nigerian National Petroleum Corporation Limited (NNPCL) restarts the Port Harcourt refinery after major renovations. This $1.5 billion project marks a turning point for the economy and the local oil industry.
The Nigerian National Petroleum Corporation Limited (NNPCL) restarts the Port Harcourt refinery after major renovations. This $1.5 billion project marks a turning point for the economy and the local oil industry.
Namibia's booming oil sector, bolstered by significant discoveries, could welcome Woodside Energy, which holds an option to engage in the offshore permit PEL 87 by May 2025.
Namibia's booming oil sector, bolstered by significant discoveries, could welcome Woodside Energy, which holds an option to engage in the offshore permit PEL 87 by May 2025.
The marine fuel market faces abundant stockpiles and geopolitical tensions. The price gap for low-sulfur fuel oil (LSFO) between Singapore and Fujairah has reached its narrowest point in three months, reflecting limited demand and pressure on margins.
The marine fuel market faces abundant stockpiles and geopolitical tensions. The price gap for low-sulfur fuel oil (LSFO) between Singapore and Fujairah has reached its narrowest point in three months, reflecting limited demand and pressure on margins.
Pemex’s 2025 budget, reduced by 7.5%, jeopardizes its production targets and increases Mexico’s risk of crude oil imports due to insufficient investments in oil resource exploitation.
Pemex’s 2025 budget, reduced by 7.5%, jeopardizes its production targets and increases Mexico’s risk of crude oil imports due to insufficient investments in oil resource exploitation.
