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.
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.
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.
Nigeria’s Dangote refinery selects US-based Honeywell to supply technology that will double its crude processing capacity and expand its petrochemical output.
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.
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.
Faced with tightened sanctions from the United States and European Union, Indian refiners are drastically reducing their purchases of Russian crude from December, according to industry sources.
Glencore's attributable production in Cameroon dropped by 31% over nine months, adding pressure on public revenues as Yaoundé revises its oil and budget forecasts amid field maturity and targeted investment shifts.
The profitability of speculative positioning strategies on Brent is declining, while contrarian approaches targeting extreme sentiment levels are proving more effective, marking a significant regime shift in oil trading.
Alaska is set to record its highest oil production increase in 40 years, driven by two key projects that extend the operational life of the TAPS pipeline and reinforce the United States' strategic presence in the Arctic.
TotalEnergies and Chevron are seeking to acquire a 40% stake in the Mopane oil field in Namibia, owned by Galp, as part of a strategy to secure new resources in a high-potential offshore basin.
The reduction of Rosneft’s stake in Kurdistan Pipeline Company shifts control of the main Kurdish oil pipeline and recalibrates the balance between US sanctions, export financing and regional crude governance.
Russian group Lukoil seeks to sell its assets in Bulgaria after the state placed its refinery under special administration, amid heightened US sanctions against the Russian oil industry.
US authorities will hold a large offshore oil block sale in the Gulf of America in March, covering nearly 80 million acres under favourable fiscal terms.
Sonatrach awarded Chinese company Sinopec a contract to build a new hydrotreatment unit in Arzew, aimed at significantly increasing the country's gasoline production.
The American major could take over part of Lukoil’s non-Russian portfolio, under strict oversight from the U.S. administration, following the collapse of a deal with Swiss trader Gunvor.
Finnish fuel distributor Teboil, owned by Russian group Lukoil, will gradually cease operations as fuel stocks run out, following economic sanctions imposed by the United States.
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 Energy has completed the acquisition of MEG Energy, adding 110,000 barrels per day of production and strengthening its position in Canadian oil sands.
The International Energy Agency’s “Current Policies Scenario” anticipates growing oil demand through 2050, undermining net-zero pathways and intensifying investment uncertainty globally.
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.
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.
Shell Pipeline has awarded Morrison the construction of an elevated oil metering facility at Fourchon Junction, a strategic project to strengthen crude transport capacity in the Gulf of Mexico.
An arrest warrant has been issued against Timipre Sylva over the alleged diversion of public funds intended for a modular refinery. This new case further undermines governance in Nigeria’s oil sector.
Russia is negotiating the sale of its stake in Serbian oil company NIS as US sanctions threaten the operations of the company, which plays a key role in Serbia’s economy.
TotalEnergies, QatarEnergy and Petronas have signed a production sharing contract to explore the offshore S4 block in Guyana, marking a new step in the country’s opening to operators beyond ExxonMobil.
India boosts crude imports from Angola amid tightening U.S. sanctions on Russia, seeking low-risk legal diversification as scrutiny over cargo origins increases.
The shutdown of Karlshamn-2 removes 335 MW of heavy fuel oil capacity from southern Sweden, exposing the limits of a strategic reserve model approved but inoperative, and increasing pressure on winter supply security.
The Bulgarian government has increased security around Lukoil’s Burgas refinery ahead of a state-led takeover enabled by new legislation designed to circumvent international sanctions.
Faced with US sanctions targeting Lukoil, Bulgaria adopts emergency legislation allowing direct control over the Balkans’ largest refinery to secure its energy supply.
MEG Energy shareholders have overwhelmingly approved the acquisition by Cenovus, marking a critical milestone ahead of the expected transaction closing later in November.
Swiss trader Gunvor has withdrawn its $22bn offer to acquire Lukoil’s international assets after the US Treasury announced it would block any related operating licence.
The Trump administration will launch on December 10 a major oil lease sale in the Gulf of Mexico, with a second auction scheduled in Alaska from 2026 as part of its offshore hydrocarbons expansion agenda.
The US group increased its dividend and annual production forecast, but the $1.5bn rise in costs for the Willow project in Alaska is causing concern in the markets.
