The United Kingdom is set to replace the Energy Profits Levy with a new fiscal mechanism, caught between fairness and simplicity, as the British Continental Shelf continues to decline.
The Italian government is demanding assurances on fuel supply security before approving the sale of Italiana Petroli to Azerbaijan's state-owned energy group SOCAR, as negotiations continue.
Rosneft Germany announces the resumption of oil deliveries to the PCK refinery, following repairs to the Druzhba pipeline hit by a drone strike in Russia that disrupted Kazakh supply.
CNOOC has launched production at the Wenchang 16-2 field in the South China Sea, supported by 15 development wells and targeting a plateau of 11,200 barrels of oil equivalent per day by 2027.
Viridien and TGS have started a new 3D multi-client seismic survey in Brazil’s Barreirinhas Basin, an offshore zone still unexplored but viewed as strategic for oil exploration.
Chevron has reached a preliminary agreement with Angola’s national hydrocarbons agency to explore block 33/24, located in deep waters near already productive zones.
India increased its purchases of Russian oil and petroleum products by 15% over six months, despite new US trade sanctions targeting these transactions.
Indonesia will finalise a free trade agreement with the Eurasian Economic Union by year-end, paving the way for expanded energy projects with Russia, including refining and natural gas.
Diamondback Energy announced the sale of its 27.5% stake in EPIC Crude Holdings to Plains All American Pipeline for $500 million in cash, with a potential deferred payment of $96 million.
Reconnaissance Energy Africa continues drilling its Kavango West 1X exploration well with plans to enter the Otavi reservoir in October and reach total depth by the end of November.
TotalEnergies has signed a production sharing agreement with South Atlantic Petroleum for two offshore exploration permits in Nigeria, covering a 2,000 square kilometre area with significant geological potential.
Nigeria’s Dangote refinery shipped 300,000 barrels of gasoline to the United States in late August, opening a new commercial route for its fuel exports.
BW Offshore has been chosen by Equinor to supply the FPSO unit for Canada’s Bay du Nord project, marking a key milestone in the advancement of this deepwater oil development.
Heirs Energies doubled production at the OML 17 block in one hundred days and aims to reach 100,000 barrels per day, reinforcing its investment strategy in Nigeria’s mature oil assets.
TotalEnergies and its partners have received a new oil exploration permit off Pointe-Noire, strengthening their presence in Congolese waters and their strategy of optimising existing infrastructure.
Next Bridge Hydrocarbons completes a $6 million private debt raise to support its involvement in the Panther project while restructuring part of its existing debt.
Sinopec Shanghai Petrochemical reported a net loss in the first half of 2025, impacted by reduced demand for fuels and chemical products, as well as declining sales volumes.
Zener International Holding takes over Petrogal’s assets in Guinea-Bissau, backed by a $24 million structured financing deal arranged with support from Ecobank and the West African Development Bank.
Bahrain has signed an energy concession agreement with EOG Resources and Bapco Energies, reinforcing its national strategy and opening the way to new opportunities in oil and gas exploration.
Talos Energy confirmed the presence of oil in the Daenerys area, located in the Gulf of Mexico, after a successful sub-salt drilling operation completed ahead of schedule.
Thanks to strong operational performance, Ithaca Energy recorded record production in the first half of 2025, supporting improved annual guidance and significant dividend distributions.
The resumption of Shell’s drilling operations and the advancement of competing projects are unfolding in a context dominated by the availability of FPSOs and deepwater drilling capacity, which dictate industrial sequencing and development costs.
Indonesia Energy Corporation signs a memorandum of understanding with Aguila Energia to identify oil and gas assets in Brazil, marking a first incursion outside its domestic market.
Viper Energy, a subsidiary of Diamondback Energy, has completed the acquisition of Sitio Royalties and is raising its production forecast for the third quarter of 2025.
Driven by rising industrial demand and emerging capacities in Asia, the global petrochemicals market is expected to see sustained expansion despite regulatory pressures and raw material cost challenges.
Alnaft and Occidental Petroleum signed two agreements to assess the oil and gas potential of southern Algerian zones, amid rising budgetary pressure and a search for energy stability.
Indian imports of Brazilian crude reach 72,000 barrels per day in the first half of 2025, driven by U.S. sanctions, and are expected to grow with new contracts and upstream projects between Petrobras and Indian refiners.
Oil flows to Hungary and Slovakia via the Russian Druzhba pipeline have been halted, following an attack Budapest attributes to repeated Ukrainian strikes.
After twenty-seven years of inactivity, the offshore Sèmè field sees operations restart under the direction of Akrake Petroleum, with production targeted by the end of 2025.
In July, China maintained a crude oil surplus of 530,000 barrels per day despite high refining activity, confirming a stockpiling strategy amid fluctuating global prices.
Petrobras is holding talks with SBM Offshore and Modec to raise output from three strategic FPSOs, two already at full capacity, to capture more value from the high-potential pre-salt fields.
