The International Energy Agency lowers its global oil supply forecast for 2026 while slightly raising demand growth expectations amid improved macroeconomic conditions.
South Sudanese authorities have been granted responsibility for securing the strategic Heglig oilfield following an agreement with both warring parties in Sudan.
TotalEnergies acquires a 40% operated interest in the offshore PEL83 license, marking a strategic move in Namibia with the Mopane oil field, while Galp secures stakes in two other promising blocks.
BOURBON will provide maritime services to ExxonMobil Guyana for five years starting in 2026, marking a key step in the logistical development of the Guyanese offshore basin.
Viridien has launched a 4,300 sq km seismic reimaging programme over Angola’s offshore block 22 to support the country’s upcoming licensing round in the Kwanza Basin.
Shell restructures its stake in the Caspian pipeline by exiting the joint venture with Rosneft, with Kremlin approval, to comply with sanctions while maintaining access to Kazakh crude.
Shell acquires 60% of Block 2C in the Orange Basin, commits to drilling three wells and paying a $25mn signing bonus to PetroSA, pending regulatory approval in South Africa.
Malgré la pression exercée sur le gouvernement vénézuélien, Washington ne cherche pas à exclure Caracas de l’OPEP, misant sur une influence indirecte au sein du cartel pour défendre ses intérêts énergétiques.
Kazakhstan redirects part of its oil production to China following the drone attack on the Caspian Pipeline Consortium terminal, without a full export halt.
US investment bank Xtellus Partners has submitted a plan to the US Treasury to recover frozen Lukoil holdings for investors by selling the Russian company’s international assets.
Ghanaian company Cybele Energy has signed a $17mn exploration deal in Guyana’s shallow offshore waters, targeting a block estimated to contain 400 million barrels and located outside disputed territorial zones.
Oil prices moved little after a drop linked to the restart of a major Iraqi oilfield, while investors remained focused on Ukraine peace negotiations and an upcoming monetary policy decision in the United States.
TechnipFMC will design and install flexible pipes for Ithaca Energy as part of the development of the Captain oil field, strengthening its footprint in the UK offshore sector.
Vaalco Energy has started drilling the ET-15 well on the Etame platform, marking the beginning of phase three of its offshore development programme in Gabon, supported by a contract with Borr Drilling.
The attack on a key Caspian Pipeline Consortium offshore facility in the Black Sea halves Kazakhstan’s crude exports, exposing oil majors and reshaping regional energy dynamics.
Iraq is preparing a managed transition at the West Qurna-2 oil field, following US sanctions against Lukoil, by prioritising a transfer to players deemed reliable by Washington, including ExxonMobil.
The rehabilitation cost of Sonara, Cameroon’s only refinery, has now reached XAF300bn (USD533mn), with several international banks showing growing interest in financing the project.
China imported 12.38 million barrels per day in November, the highest level since August 2023, driven by stronger refining margins and anticipation of 2026 quotas.
The United States reaffirmed its military commitment to Guyana, effectively securing access to its rapidly expanding oil production amid persistent border tensions with Venezuela.
Serbia's only refinery, operated by NIS, has suspended production due to a shortage of crude oil, a direct consequence of US sanctions imposed on its majority Russian shareholder.
Crude prices increased, driven by rising tensions between the United States and Venezuela and drone attacks targeting Russian oil infrastructure in the Black Sea.
Amid persistent financial losses, Tullow Oil restructures its governance and accelerates efforts to reduce over $1.8 billion in debt while refocusing operations on Ghana.
The Iraqi government is inviting US oil companies to bid for control of the giant West Qurna 2 field, previously operated by Russian group Lukoil, now under US sanctions.
Two tankers under the Gambian flag were attacked in the Black Sea near Turkish shores, prompting a firm response from President Recep Tayyip Erdogan on growing risks to regional energy transport.
The British producer continues to downsize its North Sea operations, citing an uncompetitive tax regime and a strategic shift towards jurisdictions offering greater regulatory stability.
Dangote Refinery says it can fully meet Nigeria’s petrol demand from December, while requesting regulatory, fiscal and logistical support to ensure delivery.
BP reactivated the Olympic pipeline, critical to fuel supply in the U.S. Northwest, after a leak that led to a complete shutdown and emergency declarations in Oregon and Washington state.
President Donald Trump confirmed direct contact with Nicolas Maduro as tensions escalate, with Caracas denouncing a planned US operation targeting its oil resources.
Zenith Energy claims Tunisian authorities carried out the unauthorised sale of stored crude oil, escalating a longstanding commercial dispute over its Robbana and El Bibane concessions.
TotalEnergies restructures its stake in offshore licences PPL 2000 and PPL 2001 by bringing in Chevron at 40%, while retaining operatorship, as part of a broader refocus of its deepwater portfolio in Nigeria.
Aker Solutions has signed a six-year frame agreement with ConocoPhillips for maintenance and modification services on the Eldfisk and Ekofisk offshore fields, with an option to extend for another six years.
Iranian authorities intercepted a vessel carrying 350,000 litres of fuel in the Persian Gulf, tightening control over strategic maritime routes in the Strait of Hormuz.
North Atlantic France finalizes the acquisition of Esso S.A.F. at the agreed per-share price and formalizes the new name, North Atlantic Energies, marking a key step in the reorganization of its operations in France.
Greek shipowner Imperial Petroleum has secured $60mn via a private placement with institutional investors to strengthen liquidity for general corporate purposes.
Ecopetrol plans between $5.57bn and $6.84bn in investments for 2026, aiming to maintain production, optimise infrastructure and ensure profitability despite a moderate crude oil market.
Faced with oversupply risks and Russian sanctions, OPEC+ stabilises volumes while preparing a structural redistribution of quotas by 2027, intensifying tensions between producers with unequal capacities.
The United Kingdom is replacing its exceptional tax with a permanent price mechanism, maintaining one of the world’s highest fiscal pressures and reshaping the North Sea’s investment attractiveness for oil and gas operators.
Pakistan confirms its exit from domestic fuel oil with over 1.4 Mt exported in 2025, transforming its refineries into export platforms as Asia faces a structural surplus of high- and low-sulphur fuel oil.
Turkish company Aksa Enerji has signed a 20-year contract with Sonabel for the commissioning of a thermal power plant in Ouagadougou, aiming to strengthen Burkina Faso’s energy supply by the end of 2026.
