Sinopec and KazMunayGaz join forces to develop a major polyethylene project in Kazakhstan. This collaboration between the two key players in the oil industry aims to strengthen their partnership and exploit their respective advantages to promote mutually beneficial cooperation.

Colombian oil reserves are dwindling faster than expected, allowing domestic supply only until 2030. This alarming situation calls into question the government's energy transition and is causing concern within the oil industry.

Aker BP is about to complete drilling of the Øst Frigg Beta/Epsilon exploration well in the Yggdrasil area of the Norwegian North Sea. This discovery increases the resource base for the Yggdrasil development, previously estimated at 650 million barrels (gross). Production is scheduled to start in 2027.

The United States has renewed the license of four U.S. oil companies to operate in Venezuela for six months, despite the current embargo on Venezuelan oil. This relaxation of sanctions is intended to ensure the safety of personnel and the functioning of operations.

Czech oil company Mero has signed an agreement to increase the capacity of the TAL transalpine pipeline, allowing the Czech Republic to free itself from dependence on Russian oil as early as 2025, with $73 million in funding from Mero.

Petrobras will appeal the ban on drilling near the Amazon, testing the environmental priorities of the Brazilian president. Ibama's decision to block the project is controversial, with experts pointing to shortcomings in the environmental studies. The Brazilian prosecutor's office also recommends rejecting the drilling.

Exxon Mobil faces huge revenue losses if the Guyana court does not suspend a ruling requiring unlimited insurance for cleanup in the event of an oil spill or leak, which could lead to production shutdowns and significant financial consequences.

Commercial crude oil reserves rose massively in the U.S., despite increased refinery utilization and higher exports. However, this increase had only a limited impact on oil prices.

The cap on Russian oil prices imposed by the EU, G7 and Australia has met its objectives, according to a US Treasury report. Russian oil exports increased in April 2023 compared to March 2022, but Russia is having difficulty finding buyers for its crude.

The U.S. government is soliciting bids for the purchase of three million barrels of crude oil to replenish their strategic reserves. U.S. Secretary of Energy Jennifer Granholm confirms that the purchase process will begin in June after completing the legal requirements for sale.

Colombian motorists are facing an unprecedented increase in gasoline prices, following the removal of government subsidies. This decision aims to reduce the public deficit and promote a sustainable environmental policy, but it has led to high inflation and criticism from citizens.

Opec is maintaining its forecast for global oil demand growth, driven by non-OECD countries, despite economic and geopolitical uncertainties. Oil prices have fallen, prompting OPEC to cut production to support prices.

The U.S. Energy Information Administration (EIA) released its May Short-Term Energy Outlook, revising its 2023 Brent crude oil forecast downward to $78.65 per barrel. Although demand for liquid fuels is expected to increase in 2023, OPEC+ oil production is expected to decline due to voluntary reductions.

The Al-Zour refinery in Kuwait recently restored its crude distillation units 1 and 2, allowing a significant increase in production to 345,000 barrels per day. This improvement has also allowed the country to take advantage of its local production by supplying a shipment of LSFO for domestic electricity.

The Church of England pension fund will vote against the reappointment of Shell executives. The decision is symbolic because the pension fund has only a small stake in Shell, whose strategy to be carbon neutral by 2050 or earlier remains unchanged.

The consumer association CLCV accuses fuel distributors of having "explosive gross margins" and calls for a price reduction of 10 cents per liter. The CLCV warns that it will refer the matter to the competent authorities if the gross margins do not return to normal by early summer.

Aramco recorded a 19.25% drop in net profit in Q1 2023 but remains the source of more than 75% of the majors' combined profits. The company is maintaining its long-term expansion plans despite the decline in hydrocarbon prices and fears of a global recession.

The Constitutional Court of Ecuador authorizes a referendum on the continuation of oil exploitation in the natural reserve of Yasuni. Ecuadorians will be able to vote in the next 75 days to decide on the phasing out of this operation.

Michel-Edouard Leclerc, chairman of the strategic committee of E.Leclerc centers, criticizes the government's request to lower prices at the pump and believes that TotalEnergies should be the first economic actor to do so. He also refutes accusations of excessive margins of his own brand.

The Zimbabwean government is considering an application to explore the Mana Pools National Park for oil and gas. This initiative risks scaring away wildlife and repelling tourists, jeopardizing Zimbabwe's national interest.

Plugging inactive oil wells in U.S. waters in the Gulf of Mexico would cost more than $30 billion, but would be much cheaper by focusing on those closest to shore. The environmental risks are higher for the latter.

Shell reports first-quarter net income of $8.7 billion, capping a season of record results for oil majors despite falling oil prices. Pro-environmental NGOs are calling for profits to be used to repair the damage caused by fossil fuels.

Tehran's recent seizure of a U.S.-bound oil tanker could have a significant impact on regional trade flows and marine insurance premiums. Industry analysts wonder about Washington's response and whether tensions will escalate.