The Russian government has extended the ban on gasoline and diesel exports, including fuels traded on the exchange, to preserve domestic market stability through the end of next year.
OPEC has formally rejected media reports suggesting that eight OPEC+ countries plan a coordinated oil production increase ahead of their scheduled meeting on October 5.
International Petroleum Corporation has completed its annual common share repurchase programme, reducing its share capital by 6.2% and is planning a renewal in December, pending regulatory approval.
Kansai Electric Power plans to shut down two heavy fuel oil units at Gobo Thermal Power Station, totalling 1.2GW of capacity, as part of a production portfolio reorganisation.
BP commits $5 billion to Tiber-Guadalupe, with a floating platform targeting 80,000 barrels per day and first production in 2030, to increase its offshore volumes in the Gulf of Mexico.
Russia projects a 12.5% contraction in oil and gas revenues in 2025, before a gradual recovery through 2028, according to official economic projections.
Baker Hughes will supply up to 50 subsea trees and associated equipment to Petrobras to support offshore production in Brazil, strengthening its role in the development of pre-salt fields.
Driven by rising global energy consumption and exploration investments, the oilfield service equipment market is expected to grow at a 5.39% CAGR to reach $36.87bn by 2031.
US sanctions against Serbian oil company NIS, owned by Gazprom, were delayed by eight days after talks between Belgrade and Washington, President Aleksandar Vucic said.
Nigeria’s oil union ordered the suspension of gas and crude deliveries to Dangote refinery following the dismissal of hundreds of local workers, escalating an industrial dispute with potential supply impacts.
Vitol strengthens its presence in West Africa by acquiring a 30% stake in the Baleine oil field from Eni, while maintaining an active role in the country’s offshore development.
ShaMaran and several international oil companies have reached a provisional deal with Baghdad and Erbil to resume crude exports from the Kurdistan region via pipeline, after months of suspension.
The number of active drilling rigs in the United States rose for the fourth consecutive week, supported by higher crude prices and OPEC+’s difficulties in meeting production targets.
Baghdad has restarted crude shipments from Kurdistan via the pipeline to Turkey, following a two-year halt linked to legal and contractual disputes involving international firms operating in the region.
Canadian group North Atlantic will acquire ExxonMobil’s stake in Esso France, including the country’s second-largest refinery, with the ownership change expected by the end of 2025.
Ghana’s only refinery is preparing to resume operations after a prolonged shutdown caused by technical and financial issues, with a restart scheduled for October according to its management.
The Liberian government awarded four offshore oil blocks to Nigerian company Atlas-Oranto for $12 million, strengthening the regional presence of African junior players in offshore exploration.
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.
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.
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.
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.
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.
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.
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.
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 obtained a 35% stake in the Nzombo block, located in deep waters off Congo, under a production sharing contract signed with the Congolese government.
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.
Reconnaissance Energy Africa Ltd. enters Gabonese offshore with a strategic contract on the Ngulu block, expanding its portfolio with immediate production potential and long-term development opportunities.
BW Energy has finalised a $365mn financing for the conversion of the Maromba FPSO offshore Brazil and signed a short-term lease for a drilling rig with Minsheng Financial Leasing.
Vantage Drilling has finalised a major commercial agreement for the deployment of the Platinum Explorer, with a 260-day offshore mission starting in Q1 2026.
