The unexpected growth in Iranian oil exports, combined with slowing Chinese demand, disrupts the global tanker market as sanctioned fleets capture a growing share of maritime trade.
The unexpected growth in Iranian oil exports, combined with slowing Chinese demand, disrupts the global tanker market as sanctioned fleets capture a growing share of maritime trade.
Oil prices edge slightly lower ahead of the key OPEC+ meeting, while the Bank of Korea shocks markets with a second consecutive rate cut, signaling significant economic challenges in Asia.
Oil prices edge slightly lower ahead of the key OPEC+ meeting, while the Bank of Korea shocks markets with a second consecutive rate cut, signaling significant economic challenges in Asia.
The new HPCL Rajasthan Refinery Ltd. integrated refinery is set to transform India's petrochemical sector. With an annual capacity of 9 million tons, it aims to reduce petrochemical imports and increase refining margins.
The new HPCL Rajasthan Refinery Ltd. integrated refinery is set to transform India's petrochemical sector. With an annual capacity of 9 million tons, it aims to reduce petrochemical imports and increase refining margins.
The American bank anticipates a decline in Brent crude oil prices to $76 per barrel in 2025, driven by an oversupply in the global oil market, despite ongoing geopolitical tensions.
The American bank anticipates a decline in Brent crude oil prices to $76 per barrel in 2025, driven by an oversupply in the global oil market, despite ongoing geopolitical tensions.
TotalEnergies strengthens its strategy in South Africa with an environmental impact study for the Deep Water Orange Basin block, a strategic offshore area, despite persistent environmental controversies.
TotalEnergies strengthens its strategy in South Africa with an environmental impact study for the Deep Water Orange Basin block, a strategic offshore area, despite persistent environmental controversies.
Saudi, Russian, and Iraqi ministers met in Baghdad to discuss production quotas and oil market stability ahead of the crucial OPEC+ meeting scheduled for December 1.
Saudi, Russian, and Iraqi ministers met in Baghdad to discuss production quotas and oil market stability ahead of the crucial OPEC+ meeting scheduled for December 1.
The Nigerian National Petroleum Corporation Limited (NNPCL) restarts the Port Harcourt refinery after major renovations. This $1.5 billion project marks a turning point for the economy and the local oil industry.
The Nigerian National Petroleum Corporation Limited (NNPCL) restarts the Port Harcourt refinery after major renovations. This $1.5 billion project marks a turning point for the economy and the local oil industry.
Namibia's booming oil sector, bolstered by significant discoveries, could welcome Woodside Energy, which holds an option to engage in the offshore permit PEL 87 by May 2025.
Namibia's booming oil sector, bolstered by significant discoveries, could welcome Woodside Energy, which holds an option to engage in the offshore permit PEL 87 by May 2025.
The marine fuel market faces abundant stockpiles and geopolitical tensions. The price gap for low-sulfur fuel oil (LSFO) between Singapore and Fujairah has reached its narrowest point in three months, reflecting limited demand and pressure on margins.
The marine fuel market faces abundant stockpiles and geopolitical tensions. The price gap for low-sulfur fuel oil (LSFO) between Singapore and Fujairah has reached its narrowest point in three months, reflecting limited demand and pressure on margins.
Pemex’s 2025 budget, reduced by 7.5%, jeopardizes its production targets and increases Mexico’s risk of crude oil imports due to insufficient investments in oil resource exploitation.
Pemex’s 2025 budget, reduced by 7.5%, jeopardizes its production targets and increases Mexico’s risk of crude oil imports due to insufficient investments in oil resource exploitation.
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.
