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Washington temporarily authorises operations linked to Rosneft’s German assets
The United States has issued a general license allowing transactions with two German subsidiaries of Rosneft, giving Berlin until April 2026 to resolve their ownership status.
Jameson Land in Greenland identified with 13 billion barrels of potential oil
An independent report estimates 13.03 billion barrels of potential oil resources in Greenland’s Jameson Land Basin, placing the site among the largest undeveloped fields globally.

Sinopec posts 32% drop in nine-month net profit on oil and fuel slump

Impacted by falling oil prices and weak fuel sales, Sinopec reports a sharp decline in profitability over the first three quarters, with a strategic shift toward higher-margin products.
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Citizen Energy launches $20mn drilling fund targeting the Anadarko Basin
Citizen Energy Ventures enters the private placement market with a $20mn fund to develop eight wells in the Cherokee Formation of Oklahoma’s historic Anadarko Basin.
US crude oil imports fall to lowest level since 2021
US crude stocks dropped by 6.9 million barrels, defying forecasts, amid a sharp decline in imports and a weekly statistical adjustment by the Energy Information Administration.

Lukoil begins sale of international assets after new US sanctions

Lukoil has started divesting its foreign assets following new US oil sanctions, a move that could reshape its overseas presence and impact supply in key European markets.
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Kazakhstan considers swift decision on Lukoil’s local assets
Kazakhstan is reviewing Lukoil's stakes in major oil projects after the Russian group announced plans to divest its international assets following new US sanctions.
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.
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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.
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.
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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.
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.
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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.
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.
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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.
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.
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Cypress Creek secures $190mn financing for hybrid solar project in Colorado
Elogen to deliver electrolyser to RoyalStav and Veolia for project in Slovakia
OMV posts €1.26bn operating profit in Q3 despite falling revenues
Norwegian fund generates €88 billion in gains through financial markets
T1 Energy raises $72mn through direct offering to US institutional investors
Paratus receives $58mn in Mexico following release of public fund
Paratus Energy Services received $58mn through its subsidiary Fontis Energy in Mexico, initiating the repayment of arrears via a government-backed fund established to support investment projects and ensure supplier payments.
The United States keeps 50% duties if India buys Russian crude
Washington ties the removal of additional duties to a verifiable decline in India’s imports of Russian crude, while New Delhi cites already-committed orders and supply stability for the domestic market.

China cuts its oil surplus to 570,000 barrels per day and prepares a cycle of strategic purchases

The decline in imports and the rise in refining in September reduced China’s crude surplus to its lowest in eight months, opening the way for tactical buying as Brent slips below 61 dollars.
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Zhou Xinhuai leaves CNOOC
Chinese executive Zhou Xinhuai, 54, resigned from his post as chief executive of CNOOC Limited after holding the role since April 2022. A strategic reorganization is underway.
SM Energy secures $3bn borrowing base with unanimous lender approval
Texas-based SM Energy gains full support from its banking syndicate, maintaining a $3bn borrowing base and easing short-term debt maturity terms.

Aker BP and Halliburton complete first umbilical-less subsea tubing hanger installation

Halliburton and Aker BP have completed the first umbilical-less tubing hanger installation on the Norwegian continental shelf, paving the way for digitised offshore operations with reduced infrastructure.
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McDermott completes first subsea project for TotalEnergies in Angola
The US group has finalised operations at the Begonia field, marking its first offshore deepwater intervention in Angola’s Block 17/06, located 150 kilometres off the coast.
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.
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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.
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.
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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.
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.
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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.
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.
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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.
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.