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Zenith Energy accuses Tunisia of unauthorised sale of 3,987 barrels of oil
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 sells 40% of two Nigerian licences to Chevron in strategic deal
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 secures NOK2.5bn to NOK4bn offshore M&M contract with ConocoPhillips

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.
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Iran seizes Eswatini-flagged vessel for fuel smuggling
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 Takes Control of Esso S.A.F. and Renames the Company
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.

Imperial Petroleum raises $60mn through direct share and warrant offering

Greek shipowner Imperial Petroleum has secured $60mn via a private placement with institutional investors to strengthen liquidity for general corporate purposes.
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Ecopetrol plans up to $6.84bn in 2026 investments to support production
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.
OPEC+ maintains output freeze for 2026 and opens quota battle for 2027
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.

UK locks in oil windfall until 2030 with 78% tax pressure

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.
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Pakistan becomes structural fuel oil exporter, disrupting Asian market balance
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.
Aksa Enerji to build 119 MW thermal power plant in Burkina Faso
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.

CPC pipeline restarts after strikes, but pressure remains on Kazakhstan

The Caspian Pipeline Consortium resumed loadings in Novorossiisk after a Ukrainian attack, but geopolitical tensions persist over Kazakh oil flows through this strategic Black Sea corridor.
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Hungary doubles oil shipments to Serbia amid US sanctions on refinery
Hungary increases oil product exports to Serbia to offset the imminent shutdown of the NIS refinery, threatened by US sanctions over its Russian majority ownership.
Pemex increases domestic refining despite continued decline in crude oil production
Faced with falling oil production, Pemex is expanding local refining through Olmeca, aiming to reduce fuel imports and optimise its industrial capacity under fiscal pressure.

Petrobras cuts investment to $109 bn in new five-year plan

Brazil’s state oil company will reduce its capital spending by 2%, hit by falling crude prices, marking a strategic shift under Lula’s presidency.
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TotalEnergies sells Bonga stake for $510mn to Shell and Eni
TotalEnergies has finalised the sale of its 12.5% stake in Nigeria’s offshore Bonga oilfield for $510mn, boosting Shell and Eni’s positions in the strategic deepwater production site.
Belgrade begins legal procedure to seize Moscow-controlled Serbian refinery
Serbia is preparing a budget law amendment to enable the takeover of NIS, a refinery under US sanctions and owned by Russian groups, to avoid an imminent energy shutdown.

Dangote selects Honeywell to expand refinery capacity to 1.4 million barrels/day

Nigeria’s Dangote refinery selects US-based Honeywell to supply technology that will double its crude processing capacity and expand its petrochemical output.
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Baghdad maintains oil output by isolating sanctioned Russian assets
Iraq secures production by bypassing US sanctions through local payments, energy-for-energy swaps, and targeted suspension of financial flows to Lukoil to protect West Qurna-2 exports.
BP partially restarts Olympic Pipeline but leaves 60% of capacity offline
Restarting Olympic Pipeline’s 16-inch line does not restore full supply to Oregon and Seattle-Tacoma airport, both still exposed to logistical risks and regional price tensions.
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Grenergy sells seven photovoltaic plants to Ecopetrol in Colombia
Zenith Energy shifts focus between Tunisian arbitration and Italian solar assets
AfDB grants $7.41mn to Liberia to complete hydroelectric power plant
South Korea under pressure from the IEA to liberalise its electricity market
Greencells to migrate 3 GW of solar projects to 3E’s platform
Baghdad seeks to preserve oil production despite sanctions targeting Lukoil
The Iraqi Prime Minister met with the founder of Lukoil to secure continued operations at the giant West Qurna-2 oil field, in response to recent US-imposed sanctions.
Pertamina increases imports to meet gasoline demand
The sustained rise in consumption of high-octane gasoline pushes Pertamina to supplement domestic supply with new imported cargoes to stabilise stock levels.

CRR acquires 53 km of oilfield road infrastructure from Islander in Alberta

Canadian group CRR acquires a strategic 53-kilometre road network north of Slave Lake from Islander Oil & Gas to support oil development in the Clearwater region.
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Kazakhstan denies any plan to acquire Lukoil’s local assets
Kazakhstan’s energy minister dismissed any ongoing talks between the government and Lukoil regarding the potential purchase of its domestic assets, despite earlier comments from a KazMunayGas executive.
OPEC and GECF warn of structural deficit in global energy market
OPEC and the Gas Exporting Countries Forum warn that chronic underinvestment could lead to lasting supply tensions in oil and gas, as demand continues to grow.

Popular support for oil exploration rises sharply in Norway

A national barometer shows that 62% of Norwegians support maintaining the current level of hydrocarbon exploration, confirming an upward trend in a sector central to the country’s economy.
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ShaMaran delivers first “in kind” cargo to Ceyhan under new Iraqi federal framework
ShaMaran has shipped a first cargo of crude oil from Ceyhan, marking the implementation of the in-kind payment mechanism established between Baghdad, Erbil, and international oil companies following the partial resumption of exports through the Iraq–Türkiye pipeline.
TGS launches 14,800 km² seismic survey in Brazil’s Pelotas Basin
Norwegian group TGS begins Phase I of its multi-client seismic survey in the Pelotas Basin, covering 21 offshore blocks in southern Brazil, with support from industry funding.

Chandra Asri secures $750mn from KKR to acquire Exxon’s fuel stations in Singapore

Indonesian group Chandra Asri receives a $750mn tailor-made funding from KKR for the acquisition of the Esso network in Singapore, strengthening its position in the fuel retail sector.
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Tethys Petroleum increases output and returns to profit in Q3
Tethys Petroleum posted a net profit of $1.4mn in Q3 2025, driven by a 33% increase in hydrocarbon sales and rising oil output.
Belgrade accelerates on NIS: Vucic sets seven-day deadline to resolve Russian stake issue
Serbia considers emergency options to avoid the confiscation of Russian stakes in NIS, targeted by US sanctions, as President Vucic pledges a definitive decision within one week.

Enbridge invests $1.4bn to boost Canadian crude exports to US refineries

Enbridge commits $1.4bn to expand capacity on its Mainline network and Flanagan South pipeline, aiming to streamline the flow of Canadian crude to US Midwest and Gulf Coast refineries.
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Rapid reshuffle at Petroperu to drive Talara and Amazon under pressure
The Peruvian state has tightened its grip on Petroperu with an emergency board reshuffle to secure the Talara refinery, fuel supply and the revival of Amazon oil fields.
Bulgaria places Lukoil refinery under state control to avoid US sanctions
Sofia appoints an administrator to manage Lukoil’s Bulgarian assets ahead of upcoming US sanctions, ensuring continued operations at the Balkans’ largest refinery.

Washington demands Gazprom Neft’s exit from NIS and maintains sanctions

The United States rejected Serbia’s proposal to ease sanctions on NIS, conditioning any relief on the complete withdrawal of Russian shareholders.
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IEA forecasts global oil surplus of 4 mbpd in 2026
The International Energy Agency expects a surplus of crude oil by 2026, with supply exceeding global demand by 4 million barrels per day due to increased production within and outside OPEC+.
Cenovus completes MEG Energy acquisition in $5.0bn deal
Cenovus Energy has completed the acquisition of MEG Energy, adding 110,000 barrels per day of production and strengthening its position in Canadian oil sands.

IEA revives oil scenario with no peak before 2050, shaking up markets

The International Energy Agency’s “Current Policies Scenario” anticipates growing oil demand through 2050, undermining net-zero pathways and intensifying investment uncertainty globally.
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Saudi Arabia adjusts crude price to defend market share in Asia
Saudi Aramco cuts its official selling price for Arab Light crude in Asia, responding to Brent-Dubai spread pressure and potential impact of US sanctions on Russian oil.
Petrobras strengthens its grip on Brazil’s spot gasoline market after Refit and SSOil exit
The removal of two Brazilian refiners and Petrobras’ pricing offensive reshuffle spot volumes around Santos and Paranaguá, shifting competition ahead of a planned tax increase in early 2026.