The group of major oil producers extends its stability strategy despite a drop in prices of more than 18% in 2025 and projected supply surplus for the coming year.
Amid Venezuela’s political transition, the African Energy Chamber urges international players to prioritise stability to secure oil investment and restore national production.
The Libya Energy & Economic Summit 2026 will host five leaders from the legal and advisory sectors to support the opening of the national oil market and strengthen regional cooperation.
Norwegian group Borr Drilling has announced two contractual commitments for its Ran and Odin rigs, extending its activities in the Americas through 2027.
Lane42 Investment Partners has completed the acquisition of Aqua Terra Permian, a wastewater infrastructure operator in the Permian Basin, aiming to expand its footprint in strategic midstream services.
Brent crude fell to its lowest level since 2021, as persistent oversupply throughout 2025 weighed on prices despite isolated geopolitical tensions and China’s strategic stockpiling.
India’s crude imports from Russia could hit an eighteen-month low as Reliance Industries anticipates no shipments in January due to logistical and commercial disruptions.
Former Vaalco executive Clotaire Kondja takes over as Gabon’s Oil and Gas Minister as the country faces declining investment and stagnant crude output.
Phillips 66 Limited has reached an agreement to acquire Lindsey Oil Refinery assets, which will be absorbed into the Humber Refinery to reinforce fuel supply across the United Kingdom.
The United States is pressing major American oil firms to commit significant capital in Venezuela to recover billions lost during the expropriations of the 2000s.
Beijing maintains investments and crude imports from Venezuela, while several Chinese state-owned and private companies seek to secure stakes in Caracas' reserves.
Serbia is aiming for a quick agreement between Gazprom and Hungarian group MOL on the sale of Russian-held NIS shares, key to restarting its only refinery shut down by US sanctions.
Washington has crossed a historic threshold by capturing Nicolas Maduro after years of sanctions and embargo. A look back at two decades of tensions and their implications for the global oil market.
Canadian group Saturn Oil & Gas has consolidated its subsidiaries into a single structure to optimise oil investments and reduce long-term administrative costs.
PBF Energy delays full resumption of operations at its Martinez, California refinery to February 2026 following a 2025 fire, while releasing throughput guidance for its entire refining network.
Chinese company CNOOC has started production at the Buzios6 project, raising the total capacity of the pre-salt oilfield to 1.15 million barrels per day.
Frontera Energy has signed a crude supply deal worth up to $120mn with Chevron Products Company, including an initial $80mn prepayment and an option for additional funding.
Amplify Energy has completed the sale of its Oklahoma assets for $92.5mn, as part of its strategy to streamline its portfolio and optimise its financial structure.
The Venezuelan national oil company has confirmed the continuity of its crude exports, as the United States enforces a maritime blockade targeting sanctioned vessels operating around the country.
The United States has implemented a full blockade on sanctioned tankers linked to Venezuela, escalating restrictions on the South American country's oil flows.
Deliveries of energy petroleum products fell by 4.5% in November, driven down by a sharp decline in diesel, while jet fuel continues its growth beyond pre-pandemic levels.
ReconAfrica is finalising preparations to test the Kavango West 1X well in Namibia, while expanding its portfolio in Angola and Gabon to strengthen its presence in sub-Saharan Africa.
Shell has reopened a divestment process for its 37.5% stake in Germany's PCK Schwedt refinery, reviving negotiations disrupted by the Russia-Ukraine conflict and Western sanctions.
Aliko Dangote accuses Nigeria’s oil regulator of threatening local refineries by enabling refined fuel imports, while calling for a corruption probe against its director.
Shell Offshore approves a strategic investment to extend the life of the Kaikias field through a waterflood operation, with first injection planned for 2028 from the Ursa platform.
Oil prices drop amid progress in Ukraine talks and expectations of oversupply, pushing West Texas Intermediate below $55 for the first time in nearly five years.
The US energy group plans to allocate $1.3bn to growth and $1.1bn to asset maintenance, with a specific focus on natural gas liquids and refining projects.
Venezuelan state oil group PDVSA claims it was targeted by a cyberattack attributed to foreign interests, with no impact on main operations, amid rising tensions with the United States.
BUTEC has finalised the financing of a 50 MW emergency power project in Burkina Faso, structured under a BOOT contract and backed by Banque Centrale Populaire Group.
BW Energy has signed a long-term lease agreement with Minsheng Financial Leasing for its Maromba B platform, covering $274mn of the project’s CAPEX, with no payments due before first oil.
Shell will restart offshore exploration on Namibia’s PEL 39 block in April 2026 with a five-well drilling programme targeting previously discovered zones, despite a recent $400mn impairment.
Iranian authorities intercepted a vessel suspected of fuel smuggling off the coast of the Gulf of Oman, with 18 South Asian crew members on board, according to official sources.
Harbour Energy will acquire Waldorf Energy Partners’ North Sea assets for $170mn, increasing its stakes in the Catcher and Kraken fields, while Capricorn Energy settles part of its claims.
The United States intercepted an oil tanker loaded with Venezuelan crude and imposed new sanctions on maritime entities, increasing pressure on Nicolas Maduro’s regime and its commercial networks in the Caribbean.
OPEC expects crude demand from its members to reach 43 million barrels per day in 2026, nearly matching current OPEC+ output, contrasting with oversupply forecasts from other institutions.
The United States seized a vessel suspected of transporting sanctioned oil from Iran and Venezuela, prompting a strong reaction from Nicolás Maduro's government.
