Despite commitments to OPEC+ to limit production, the United Arab Emirates shows oil export volumes well above quotas. This situation raises questions and rekindles tensions within the cartel.
Despite commitments to OPEC+ to limit production, the United Arab Emirates shows oil export volumes well above quotas. This situation raises questions and rekindles tensions within the cartel.
The global petrochemical market will reach $685.01 billion by 2031, driven by rising demand for polymers in automotive, packaging, and construction sectors. Asia-Pacific dominates, fostering sustained growth and innovative opportunities.
The global petrochemical market will reach $685.01 billion by 2031, driven by rising demand for polymers in automotive, packaging, and construction sectors. Asia-Pacific dominates, fostering sustained growth and innovative opportunities.
An oil spill from the TotalEnergies refinery in Donges polluted a 500 m² area of the Loire. Authorities and the company claim to have partially contained the incident while continuing environmental impact assessments.
An oil spill from the TotalEnergies refinery in Donges polluted a 500 m² area of the Loire. Authorities and the company claim to have partially contained the incident while continuing environmental impact assessments.
Between low margins, rising taxes, and rail delays, Russian refineries struggle to sustain operations, while modernization projects are hindered by high interest rates and Western sanctions.
Between low margins, rising taxes, and rail delays, Russian refineries struggle to sustain operations, while modernization projects are hindered by high interest rates and Western sanctions.
Despite pressure on refining margins, Africa is accelerating refinery projects to meet growing demand and enhance energy security, while facing competition from global giants.
Despite pressure on refining margins, Africa is accelerating refinery projects to meet growing demand and enhance energy security, while facing competition from global giants.
India's oil product consumption grew by 3% in October, marking a recovery after the monsoon season, driven by diesel demand and robust vehicle sales during the festive season.
India's oil product consumption grew by 3% in October, marking a recovery after the monsoon season, driven by diesel demand and robust vehicle sales during the festive season.
Aramco, Sinopec, and Fujian Petrochemical break ground on an integrated refining and petrochemical complex in China, aiming for an annual production of 16 million tons to meet the rising global demand for chemicals.
Aramco, Sinopec, and Fujian Petrochemical break ground on an integrated refining and petrochemical complex in China, aiming for an annual production of 16 million tons to meet the rising global demand for chemicals.
O.K. Lim, a former oil tycoon in Singapore, has been sentenced to 17 and a half years in prison for a massive financial fraud that defrauded HSBC of $100 million, tarnishing the city-state's commercial reputation.
O.K. Lim, a former oil tycoon in Singapore, has been sentenced to 17 and a half years in prison for a massive financial fraud that defrauded HSBC of $100 million, tarnishing the city-state's commercial reputation.
TechnipFMC and Saipem secure contracts exceeding one billion dollars each for TotalEnergies’ offshore oil project, GranMorgu, aimed at exploiting fields off the Suriname coast.
TechnipFMC and Saipem secure contracts exceeding one billion dollars each for TotalEnergies’ offshore oil project, GranMorgu, aimed at exploiting fields off the Suriname coast.
Sinopec's Tianjin Nangang complex, developed with INEOS, enhances China's petrochemical capabilities with integrated production of 1.2 million tons annually. This project marks a turning point in strategic partnerships and industrial self-sufficiency.
Sinopec's Tianjin Nangang complex, developed with INEOS, enhances China's petrochemical capabilities with integrated production of 1.2 million tons annually. This project marks a turning point in strategic partnerships and industrial self-sufficiency.
ENEOS, Japan's leading refiner, intensifies spot market oil purchases, including Canadian crude, leveraging the Trans Mountain pipeline expansion. This shift reduces Japan's energy dependence on the Middle East.
ENEOS, Japan's leading refiner, intensifies spot market oil purchases, including Canadian crude, leveraging the Trans Mountain pipeline expansion. This shift reduces Japan's energy dependence on the Middle East.
Despite growing calls to reduce hydrocarbon production, a report by the NGO Urgewald reveals that the oil and gas industry has invested an average of $61.1 billion annually in exploration over the past three years.
Despite growing calls to reduce hydrocarbon production, a report by the NGO Urgewald reveals that the oil and gas industry has invested an average of $61.1 billion annually in exploration over the past three years.
The Mexican government is set to unveil a long-term strategy for Pemex as the state-owned company faces structural challenges. Experts and investors discuss the necessary solutions, including opening up to private capital.
The Mexican government is set to unveil a long-term strategy for Pemex as the state-owned company faces structural challenges. Experts and investors discuss the necessary solutions, including opening up to private capital.
Despite high expectations, Dangote refinery faces difficulties selling gasoline domestically and begins exporting to ease stock and diversify its markets.
Despite high expectations, Dangote refinery faces difficulties selling gasoline domestically and begins exporting to ease stock and diversify its markets.
OPEC+ recorded an increase of 30,000 barrels per day in October, marked by Libya’s production surge and Kazakhstan’s reduction. Compliance remains a key challenge for the group.
OPEC+ recorded an increase of 30,000 barrels per day in October, marked by Libya’s production surge and Kazakhstan’s reduction. Compliance remains a key challenge for the group.
The Hague's Court of Appeal overturned a historic decision obliging Shell to reduce its CO2 emissions, rejecting the environmental NGOs' appeal, which denounced the multinational's inaction on climate.
The Hague's Court of Appeal overturned a historic decision obliging Shell to reduce its CO2 emissions, rejecting the environmental NGOs' appeal, which denounced the multinational's inaction on climate.
A year after its strategic acquisitions in the Permian Basin, Civitas Resources records a strong increase in productivity and strengthens its positions, notably through innovations in simultaneous fracturing and a production record in Colorado.
A year after its strategic acquisitions in the Permian Basin, Civitas Resources records a strong increase in productivity and strengthens its positions, notably through innovations in simultaneous fracturing and a production record in Colorado.
Facing growing domestic demand, Vietnam's Nghi Son refinery seeks government approval to increase its Kuwaiti oil imports, thereby exceeding its annual tax-free quota.
Facing growing domestic demand, Vietnam's Nghi Son refinery seeks government approval to increase its Kuwaiti oil imports, thereby exceeding its annual tax-free quota.
As Russian and Kazakh refineries resume operations following maintenance periods, the energy market anticipates potential effects on fuel supply. Uncertainty remains around gasoline exports in Russia.
As Russian and Kazakh refineries resume operations following maintenance periods, the energy market anticipates potential effects on fuel supply. Uncertainty remains around gasoline exports in Russia.
CNOOC Group has announced the start of production for its Long Lake NW project in Canada, which is expected to reach a peak of 8,200 barrels per day in 2025, utilizing SAGD technology.
CNOOC Group has announced the start of production for its Long Lake NW project in Canada, which is expected to reach a peak of 8,200 barrels per day in 2025, utilizing SAGD technology.
A report by Reclaim Finance accuses 20 European banks of promoting oil and gas expansion through significant financing, hindering energy transition goals.
A report by Reclaim Finance accuses 20 European banks of promoting oil and gas expansion through significant financing, hindering energy transition goals.
Saudi Aramco reduces its December official selling prices for crude oil bound for Asia, a move in line with market expectations. Adjustments vary by crude type, with larger cuts for lighter grades.
Saudi Aramco reduces its December official selling prices for crude oil bound for Asia, a move in line with market expectations. Adjustments vary by crude type, with larger cuts for lighter grades.
Marathon Petroleum exceeded financial forecasts by increasing its refinery throughput and maximizing utilization rates. This strategy leverages fluctuations in the oil market to enhance profitability.
Marathon Petroleum exceeded financial forecasts by increasing its refinery throughput and maximizing utilization rates. This strategy leverages fluctuations in the oil market to enhance profitability.
As oil reserves dwindle, Gabon and Equatorial Guinea vie for control over Mbanie Island, a strategic economic asset. A ruling from the International Court of Justice is expected in 2025.
As oil reserves dwindle, Gabon and Equatorial Guinea vie for control over Mbanie Island, a strategic economic asset. A ruling from the International Court of Justice is expected in 2025.
Saudi oil giant Aramco reports a 15% drop in net profit in the third quarter, driven by falling oil prices and reduced production, adding uncertainty to the global energy market outlook.
Saudi oil giant Aramco reports a 15% drop in net profit in the third quarter, driven by falling oil prices and reduced production, adding uncertainty to the global energy market outlook.
