News

In a groundbreaking move towards sustainable waste management and clean energy, the Cuttack Municipal Corporation (CMC) has entered into a concessionaire agreement with Oil India Limited (OIL) to establish a…

China’s independent refineries, often referred to as “teapots,” saw an increase in their run rates in March, signaling a potential rise in oil demand from the world’s largest importer. However,…

Mexico’s finance ministry has revised its 2025 crude oil production target, now forecasting a daily output of 1.762 million barrels per day (bpd)—a reduction of 129,000 bpd from the initial…

Nigerian President Bola Ahmed Tinubu has appointed Bayo Ojulari, a former Shell executive, as the new head of the state-owned oil company, NNPC Ltd. The move comes as the government…

Uganda has officially entered into an agreement with UAE-based Alpha MBM Investments for a 60 percent stake in a new crude oil refinery located in Kabaale, Hoima district. The state-run…

Former President Donald Trump has warned of secondary sanctions on Russia’s energy sector if an agreement on a ceasefire in Ukraine remains unattainable between Washington and Moscow. In an exclusive…

China National Offshore Oil Corporation (CNOOC) announced today the discovery of a new oil field in the South China Sea, potentially holding more than 100 million tons of crude oil,…

The U.S. Department of Justice has filed a civil lawsuit in a Washington, D.C., district court, aiming to forfeit $47 million in proceeds from the sale of nearly 1 million…

The U.S. administration has ramped up its economic offensive by imposing a 25% tariff on all goods imported into the country from nations purchasing Venezuelan oil. The move is seen…

The Kenyan government will begin licensing firms interested in exploring and investing commercially in the country’s 10 oil and gas blocks starting in September, according to the Ministry of Energy…

The United Kingdom’s North Sea still holds substantial oil and gas reserves, capable of meeting up to half of the country’s energy needs in the coming decades, according to a…

This year is poised to witness the highest rate of new oil supply in a decade, with global additions expected to reach nearly 3 million barrels per day (bpd), according…

ExxonMobil has officially withdrawn its application to store carbon dioxide (CO2) beneath the seabed of the Bass Strait, although it remains committed to advancing its carbon capture and storage (CCS)…

Iraq is evaluating the potential of exporting crude oil to African markets as part of its broader strategy to expand its oil market reach, according to Oil Minister Hayan Abdul…

India’s oil and gas industry is set for a significant transformation following the passage of the Oilfield (Regulatory and Development) Amendment Bill, 2024 in Parliament last week. The bill seeks…

Oil executives who met with President Donald Trump this week focused primarily on the need for faster permitting for new projects, steering clear of discussions about oil prices—a topic Trump…

Crude oil inventories in the United States saw a significant increase of 4.593 million barrels for the week ending March 14, according to the American Petroleum Institute (API). This surge…

A Saudi official has firmly denied reports suggesting Riyadh’s involvement in providing logistical support for U.S. airstrikes targeting Yemen’s Houthi rebels. In an interview, the official rejected claims that Saudi…

China has not received any cargoes of U.S. liquefied natural gas (LNG) in the past 40 days, with no LNG tankers currently en route to the country, according to data…

In a significant move, the government of Guyana has officially revoked the oil prospecting license for the Frontera-CGX joint venture, effectively ending their operations on the Corentyne block. This decision…