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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.
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Venezuela freezes gas cooperation with Trinidad over pro-U.S. political alignment
Oilfield giants shift to AI infrastructure as drilling slows
Cypress Creek secures $190mn financing for hybrid solar project in Colorado
VoltaGrid and Halliburton join forces to deliver distributed power to data centres
EDF appoints Intesa and Lazard to review future of Italian subsidiary Edison
Jihadist blockade in Mali disrupts fuel supply and electricity production
Prolonged attacks on fuel convoys have depleted stocks, destabilised power generation and disrupted economic activity in Bamako and surrounding regions.
Dangote cuts crude purchases in response to rising global prices
Nigerian group Dangote has reduced crude supply to its refinery, citing a strategic adjustment to high oil prices and denying any technical failure.

Reliance Industries posts $2.06bn net profit in second quarter

Reliance Industries reported a 9.67% increase in net profit in the second quarter of fiscal year 2025–2026, driven by recovering petrochemical margins and continued growth in its retail and telecom operations.
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Fire temporarily halts operations at BP’s 440,000 bpd Whiting refinery
An operational fire was contained at the largest refinery in the US Midwest, causing a temporary shutdown of several processing units, according to industry data.
EU bans co-processing to block imports of Russian oil products
The European Commission imposes new rules requiring proof of refined crude origin and excludes the use of mass-balancing to circumvent the Russian oil ban.

Russia definitively ordered to pay $50bn to former Yukos shareholders

The Dutch Supreme Court has rejected Russia's final appeal, confirming a record $50bn compensation to former Yukos shareholders, ending two decades of legal battle.
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Namibia High Court confirms ethical breach by NBC in ReconAfrica case
A ruling by Namibia's High Court upheld the media regulator’s decision that the state broadcaster NBC failed to ensure balance in its coverage of ReconAfrica’s oil operations.
CES Energy raises $75mn through bond issuance to strengthen financial structure
The Canadian oilfield services provider announced a $75mn private placement of 6.875% senior unsecured notes to refinance bank debt and support operations.

US crude oil inventories rise by 3.5 million barrels against expectations

Commercial crude reserves in the United States posted an unexpected increase, reaching their highest level in over a month due to a marked slowdown in refinery activity.
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China rejects US pressure over Russian oil imports
Beijing calls Donald Trump's request to stop importing Russian crude interference, denouncing economic coercion and defending what it calls legitimate trade with Moscow.
Trump reignites tensions over India’s imports of Russian oil
India faces mounting pressure from the United States over its purchases of Russian oil, as Donald Trump claims Prime Minister Narendra Modi pledged to halt them.

Three Crown expands horizontal drilling programme in the Powder River Basin

Three Crown Petroleum has started production from its Irvine 1NH well and plans two new wells in Wyoming, marking a notable acceleration of its deployment programme in the Powder River Basin through 2026.
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IMF forecasts oil to fall to $68 in 2025 amid tariff-driven slowdown
The International Monetary Fund expects oil prices to weaken due to sluggish global demand growth and the impact of US trade policies.
US conservatives push legal shield for oil industry amid climate lawsuits
With lawsuits multiplying against oil majors, Republican lawmakers are seeking to establish federal immunity to block legal actions tied to environmental damage.

UK sanctions Rosneft, Lukoil and 51 vessels linked to Russian oil exports

The United Kingdom targets two Russian oil majors, Asian ports and dozens of vessels in a new wave of sanctions aimed at disrupting Moscow's hydrocarbon exports.
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Brent under pressure: traders expect prices to fall towards $60
Major global oil traders anticipate a continued decline in Brent prices, citing the fading geopolitical premium and rising supply, particularly from non-OPEC producers.
Petro-Victory secures $300,000 loan with attached warrants
Canadian company Petro-Victory Energy Corp. has secured a $300,000 unsecured loan at a 14% annual rate, including 600,000 warrants granted to a lender connected to its board of directors.

Cenovus Energy acquires 8.5% stake in MEG Energy

Cenovus Energy has purchased over 21.7 million common shares of MEG Energy, representing 8.5% of its capital, as part of its ongoing acquisition strategy in Canada.
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Fuel consumption in France rises despite overall oil downturn
In September 2025, French road fuel consumption rose by 3%, driven by a rebound in unleaded fuels, while overall energy petroleum product consumption fell by 1.8% year-on-year.
SIR secures $105.6mn from BOAD for low-sulphur diesel complex
Société Ivoirienne de Raffinage receives major funding to upgrade facilities and produce diesel fuel in line with ECOWAS standards, with commissioning expected by 2029.