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KazMunayGas has resumed oil shipments to Turkey through the Baku-Tbilisi-Ceyhan pipeline, following a stoppage due to a contamination issue resolved at the Aktau terminal.
After six months of suspended local institutions, Nigeria's federal government restores civilian power in oil-rich Rivers State as political tensions appear to ease.

Uganda builds 2 million barrels of storage to boost oil sector

Backed by flagship projects linked to EACOP and the Tilenga and Kingfisher fields, Uganda aims to lead Africa in new oil storage additions, with a projected impact on its revenues and financial flows by 2030.
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A study reveals that independent oil and gas producers supported over 3.1 million jobs and generated $129bn in taxes, representing 87% of the US upstream sector’s economic contributions.
GATE Energy has been appointed to deliver full commissioning services for bp’s Kaskida floating production unit, developed in partnership with Seatrium in the deepwater Gulf of Mexico.

Syrian tanker docks in Trieste, first crude delivery in 14 years

A Syrian vessel carrying 640,000 barrels of crude has docked in Italy, marking the country’s first oil shipment since the civil war began in 2011, amid partial easing of US sanctions.
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Canadian crude shipments from the Pacific Coast reached 13.7 million barrels in August, driven by a notable increase in deliveries to China and a drop in flows to the US Gulf Coast.
Faced with rising global electricity demand, energy sector leaders are backing an "all-of-the-above" strategy, with oil and gas still expected to supply 50% of global needs by 2050.

UK sanctions 70 tankers to reinforce Russian oil price cap

London has expanded its sanctions against Russia by blacklisting 70 new tankers, striking at the core of Moscow's energy exports and budget revenues.
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Iraq is negotiating with Oman to build a pipeline linking Basrah to Omani shores to reduce its dependence on the Strait of Hormuz and stabilise crude exports to Asia.
French steel tube manufacturer Vallourec has secured a strategic agreement with Petrobras, covering complete offshore well solutions from 2026 to 2029.

IEA warns of 3.3 million barrel oil surplus in 2026

Increased output from Opec+ and non-member producers is expected to create a global oil surplus as early as 2025, putting pressure on crude prices, according to the International Energy Agency.
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The Brazilian company expands its African footprint with a new offshore exploration stake, partnering with Shell and Galp to develop São Tomé and Príncipe’s Block 4.
A drone attack on a Bachneft oil facility in Ufa sparked a fire with no casualties, temporarily disrupting activity at one of Russia’s largest refineries.

Transatlantic rift over Russian oil reduces Indian volumes in October

The divide between the United States and the European Union over regulations on Russian oil exports to India is causing a drop in scheduled deliveries, as negotiation margins tighten between buyers and sellers.
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Against market expectations, US commercial crude reserves surged due to a sharp drop in exports, only slightly affecting international prices.
Russia plans to ship 2.1 million barrels per day from its western ports in September, revising exports upward amid lower domestic demand following drone attacks on key refineries.

QatarEnergy secures offshore exploration licence in Congo

QatarEnergy obtained a 35% stake in the Nzombo block, located in deep waters off Congo, under a production sharing contract signed with the Congolese government.
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Phillips 66 acquires Cenovus Energy’s remaining 50% in WRB Refining, strengthening its US market position with two major sites totalling 495,000 barrels per day.
Nigeria’s two main oil unions have halted loadings at the Dangote refinery, contesting the rollout of a private logistics fleet that could reshape the sector’s balance.
Indonesia will finalise a free trade agreement with the Eurasian Economic Union by year-end, paving the way for expanded energy projects with Russia, including refining and natural gas.
Diamondback Energy announced the sale of its 27.5% stake in EPIC Crude Holdings to Plains All American Pipeline for $500 million in cash, with a potential deferred payment of $96 million.

ReconAfrica advances drilling of Kavango West 1X well in Namibia

Reconnaissance Energy Africa continues drilling its Kavango West 1X exploration well with plans to enter the Otavi reservoir in October and reach total depth by the end of November.
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TotalEnergies has signed a production sharing agreement with South Atlantic Petroleum for two offshore exploration permits in Nigeria, covering a 2,000 square kilometre area with significant geological potential.
Nigeria’s Dangote refinery shipped 300,000 barrels of gasoline to the United States in late August, opening a new commercial route for its fuel exports.

Aramco and SOMO suspend crude supplies to India’s Nayara Energy

Saudi and Iraqi exporters halted supplies to Nayara Energy, forcing the Rosneft-controlled Indian refiner to rely solely on Russian crude in August.
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BW Offshore has been chosen by Equinor to supply the FPSO unit for Canada’s Bay du Nord project, marking a key milestone in the advancement of this deepwater oil development.
Heirs Energies doubled production at the OML 17 block in one hundred days and aims to reach 100,000 barrels per day, reinforcing its investment strategy in Nigeria’s mature oil assets.

Hungary launches pipeline with Serbia despite regional supply tensions

Budapest plans to complete a new oil link with Belgrade by 2027, despite risks of dependency on Russian flows amid ongoing strikes on infrastructure.
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TotalEnergies and its partners have received a new oil exploration permit off Pointe-Noire, strengthening their presence in Congolese waters and their strategy of optimising existing infrastructure.
India’s oil minister says Russian crude imports comply with international norms, as the United States and European Union impose new sanctions.

Strathcona Resources seeks to raise its stake in MEG Energy to 14.2%

Strathcona Resources plans to acquire an additional 5% of MEG Energy’s shares and confirms its opposition to the company’s sale to Cenovus Energy.
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Two drone strikes hit Heglig in August, disrupting the strategic Nile Blend export hub and increasing the vulnerability of Sudanese and South Sudanese oil flows.
China’s oil production has surged since 2019, driven by national companies and government support, while import dependency remains high.

US crude oil inventories fall by 2.4 million barrels

Commercial crude oil inventories fell more than expected in the United States, while gasoline demand crossed a key threshold, offering slight support to crude prices.
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The United States extends a 30-day reprieve to NIS, controlled by Gazprom, as Serbia seeks to maintain energy security amid pressure on the Russian energy sector.
With net output reaching 384.6 million barrels of oil equivalent, CNOOC Limited continues its expansion, strengthening both domestic and international capacities despite volatile crude oil prices.

Talos discovers Daenerys in the Gulf, potential addition of 50 mn boe

The Daenerys oil discovery could increase Talos Energy’s proved reserves by more than 25% and reach 65,000 barrels per day, marking a strategic shift in its Gulf of Mexico portfolio.
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The United States will apply 50% tariffs on Indian exports in response to New Delhi’s purchases of Russian oil, further straining trade relations between the two partners.
Rising energy demand is driving investments in petrochemical filtration, a market growing at an average annual rate of 5.9% through 2030.