African economies dependent on oil are stagnating, growing at half the rate of the rest of the region. The IMF highlights a lack of diversification and investment as key factors behind this lag.
African economies dependent on oil are stagnating, growing at half the rate of the rest of the region. The IMF highlights a lack of diversification and investment as key factors behind this lag.
Benin intensifies efforts to attract investors in the offshore oil sector. TGS begins 3D seismic surveys to identify new offshore oil prospects in Beninese waters.
Benin intensifies efforts to attract investors in the offshore oil sector. TGS begins 3D seismic surveys to identify new offshore oil prospects in Beninese waters.
Kerosene demand in Asia remains strong, reinforcing its position over diesel, despite the massive arrival of cargoes from India and the Middle East, which could reverse this trend.
Kerosene demand in Asia remains strong, reinforcing its position over diesel, despite the massive arrival of cargoes from India and the Middle East, which could reverse this trend.
In September, Brazil replaced Malaysia as the top supplier of blended bitumen to China, due to banking restrictions and new trade opportunities with Latin American countries.
In September, Brazil replaced Malaysia as the top supplier of blended bitumen to China, due to banking restrictions and new trade opportunities with Latin American countries.
BW Energy plans to reach a production of 40,000 barrels per day off the coast of Gabon by the end of 2024, thanks to an intensive drilling campaign in the Dussafu block.
BW Energy plans to reach a production of 40,000 barrels per day off the coast of Gabon by the end of 2024, thanks to an intensive drilling campaign in the Dussafu block.
Venezuela has arrested the former oil minister and ex-CEO of PDVSA over accusations of collaborating with U.S. intelligence, sparking new political tensions in the country.
Venezuela has arrested the former oil minister and ex-CEO of PDVSA over accusations of collaborating with U.S. intelligence, sparking new political tensions in the country.
South Sudan has resumed its crude oil exports via Sudan after a prolonged halt due to technical issues. This restart marks a crucial step for the country’s struggling economy.
South Sudan has resumed its crude oil exports via Sudan after a prolonged halt due to technical issues. This restart marks a crucial step for the country’s struggling economy.
The Gabon Oil Company (GOC) strengthens its position in the oil sector by purchasing 15% of Baudroie shares, previously owned by TotalEnergies. This acquisition aims to increase national production.
The Gabon Oil Company (GOC) strengthens its position in the oil sector by purchasing 15% of Baudroie shares, previously owned by TotalEnergies. This acquisition aims to increase national production.
WTI Midland crude from the Permian Basin has become too light for refining infrastructure, posing significant challenges for producers and refineries. This directly impacts margins and international demand.
WTI Midland crude from the Permian Basin has become too light for refining infrastructure, posing significant challenges for producers and refineries. This directly impacts margins and international demand.
An oil spill of 30-40 tonnes was contained by Shell at Bukom, Singapore, without affecting operations. The company is collaborating with the authorities for clean-up while continuing its local restructuring.
An oil spill of 30-40 tonnes was contained by Shell at Bukom, Singapore, without affecting operations. The company is collaborating with the authorities for clean-up while continuing its local restructuring.
Canadian Natural Resources Ltd strengthens its export capacity by increasing its share on the Trans Mountain pipeline following the acquisition of new assets from Chevron. This strategic move aims to diversify markets and secure oil flows to the Asia-Pacific region.
Canadian Natural Resources Ltd strengthens its export capacity by increasing its share on the Trans Mountain pipeline following the acquisition of new assets from Chevron. This strategic move aims to diversify markets and secure oil flows to the Asia-Pacific region.
Aramco's CEO, Amin Nasser, forecasts a stable global petroleum demand exceeding 100 million barrels per day by 2050, despite ongoing energy transition efforts and economic stimulus measures in key regions.
Aramco's CEO, Amin Nasser, forecasts a stable global petroleum demand exceeding 100 million barrels per day by 2050, despite ongoing energy transition efforts and economic stimulus measures in key regions.
Southeast Asia's increasing energy demand will take center stage, according to Fatih Birol of the International Energy Agency (IEA). Ensuring the security of energy flows amid geopolitical turmoil is paramount for the region.
Southeast Asia's increasing energy demand will take center stage, according to Fatih Birol of the International Energy Agency (IEA). Ensuring the security of energy flows amid geopolitical turmoil is paramount for the region.
Nigeria and its oil partners, including Shell, must make a final investment decision on the offshore Bonga North project by the end of 2024, aiming to increase reserves and national production.
Nigeria and its oil partners, including Shell, must make a final investment decision on the offshore Bonga North project by the end of 2024, aiming to increase reserves and national production.
Venezuela's oil sector is shaken by the arrest of former minister Pedro Tellechea, revealing ongoing political and economic tensions within the industry.
Venezuela's oil sector is shaken by the arrest of former minister Pedro Tellechea, revealing ongoing political and economic tensions within the industry.
SLB, the world's leading oilfield services company, announces a significant profit increase in the third quarter despite a challenging market, while issuing cautious forecasts for the year's final quarter.
SLB, the world's leading oilfield services company, announces a significant profit increase in the third quarter despite a challenging market, while issuing cautious forecasts for the year's final quarter.
Shell and the Maritime and Port Authority (MPA) responded swiftly to an oil spill in Bukom. The cleanup operations mobilized various equipment, highlighting the environmental and financial challenges associated with oil exploitation.
Shell and the Maritime and Port Authority (MPA) responded swiftly to an oil spill in Bukom. The cleanup operations mobilized various equipment, highlighting the environmental and financial challenges associated with oil exploitation.
Pemex postpones strategic exploration and production projects in the last quarter of 2024, aiming to save USD 1.35 billion while grappling with growing debt and operational challenges.
Pemex postpones strategic exploration and production projects in the last quarter of 2024, aiming to save USD 1.35 billion while grappling with growing debt and operational challenges.
Phillips 66 announces the closure of its Wilmington, California refinery, scheduled for the fourth quarter of 2025, citing changes in market fundamentals rather than new state regulations.
Phillips 66 announces the closure of its Wilmington, California refinery, scheduled for the fourth quarter of 2025, citing changes in market fundamentals rather than new state regulations.
Chevron and the Nigerian National Petroleum Corporation (NNPC) announce a significant oil discovery in the Niger Delta, thereby reinforcing their commitment to a region marked by the withdrawal of international oil companies.
Chevron and the Nigerian National Petroleum Corporation (NNPC) announce a significant oil discovery in the Niger Delta, thereby reinforcing their commitment to a region marked by the withdrawal of international oil companies.
Iran has carried out its first crude oil export outside the Persian Gulf via the Jask terminal, expanding its export options amid threats of retaliatory strikes by Israel targeting oil facilities.
Iran has carried out its first crude oil export outside the Persian Gulf via the Jask terminal, expanding its export options amid threats of retaliatory strikes by Israel targeting oil facilities.
U.S. crude oil reserves have unexpectedly decreased, while production reaches a record high, solidifying the United States' position as the world's top producer.
U.S. crude oil reserves have unexpectedly decreased, while production reaches a record high, solidifying the United States' position as the world's top producer.
Marine fuel sales in Panama reached their highest level in September since 2020, supported by strong year-on-year performance in both high sulfur and very low sulfur bunker grades.
Marine fuel sales in Panama reached their highest level in September since 2020, supported by strong year-on-year performance in both high sulfur and very low sulfur bunker grades.
The international operator of Kashagan urges QazaqGaz to prioritize the construction of processing facilities, as oil production growth projects are delayed.
The international operator of Kashagan urges QazaqGaz to prioritize the construction of processing facilities, as oil production growth projects are delayed.
The British government has opened 37 investigations into suspected breaches of sanctions imposed on the Russian oil sector, marking an intensification of efforts to enforce restrictions aimed at reducing Russia's oil revenue.
The British government has opened 37 investigations into suspected breaches of sanctions imposed on the Russian oil sector, marking an intensification of efforts to enforce restrictions aimed at reducing Russia's oil revenue.
