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.
ExxonMobil will shut down its Fife chemical site in February 2026, citing high costs, weak demand and a UK regulatory environment unfavourable to industrial investment.
Polish state-owned group Orlen strengthens its North Sea presence by acquiring DNO’s stake in Ekofisk, while the Norwegian company shifts focus to fast-return projects.
The Syrian Petroleum Company has signed a memorandum of understanding with ConocoPhillips and Nova Terra Energy to develop gas fields and boost exploration amid ongoing energy shortages.
Fincraft Group LLP, a major shareholder of Tethys Petroleum, submitted a non-binding proposal to acquire all remaining shares, offering a 106% premium over the September trading price.
As global oil prices slowed, China raised its crude stockpiles in October, taking advantage of a growing gap between imports, domestic production and refinery processing.
Kuwait Petroleum Corporation has signed a syndicated financing agreement worth KWD1.5bn ($4.89bn), marking the largest ever local-currency deal arranged by Kuwaiti banks.
The Beninese government has confirmed the availability of a mobile offshore production unit, marking an operational milestone toward resuming activity at the Sèmè oil field, dormant for more than two decades.
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.
The sustained rise in consumption of high-octane gasoline pushes Pertamina to supplement domestic supply with new imported cargoes to stabilise stock levels.
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.
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 the Gas Exporting Countries Forum warn that chronic underinvestment could lead to lasting supply tensions in oil and gas, as demand continues to grow.
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.
Canadian producer Saturn Oil & Gas exceeded its production forecast in the third quarter of 2025, driven by a targeted investment strategy, debt reduction and a disciplined shareholder return policy.
Aker Solutions has secured a five-year brownfield maintenance contract extension with ExxonMobil Canada, reinforcing its presence on the East Coast and workforce in Newfoundland and Labrador.
With average oil production of 503,750 barrels per day, Diamondback Energy strengthens its profitability and continues its share buyback and strategic asset divestment programme.
International Petroleum Corporation exceeded its operational targets in the third quarter, strengthened its financial position and brought forward production from its Blackrod project in Canada.
TAG Oil extends the BED-1 evaluation period until October 2028, committing to drill two new wells before deciding on full-scale development of the Abu Roash F reservoir.
Expro delivered its new on-site fluid analysis service for a major oil operator in Cyprus, cutting turnaround times from several months to just hours during an exploration drilling campaign in the Eastern Mediterranean.
Sinopec finalised supply agreements worth $40.9bn with 34 foreign companies at the 2025 China International Import Expo, reinforcing its position in the global petroleum and chemical trade.
Commodities trader Gunvor confirmed that the assets acquired from Lukoil will not return under Russian control, despite potential sanction relief, amid growing regulatory pressure.
Esso France shareholders, mostly controlled by ExxonMobil, approved the sale to Canadian group North Atlantic and a €774mn special dividend set for payment on 12 November.
Marathon Petroleum missed its adjusted profit forecast for Q3 due to a significant rise in maintenance costs, despite stronger refining margins, sending its shares down more than 7% in pre-market trading.
