News

In a bold statement on Monday, President Donald Trump indicated that the United States is “probably” going to cease purchasing oil from Venezuela. Speaking from the Oval Office shortly after…

The Dangote Group has confirmed an increase in the depot price of Premium Motor Spirit (PMS), following reports that its refinery raised the price of petrol from N899 to N955…

The Minister of State for Petroleum Resources, Senator Heineken Lokpobiri, inaugurated the Nigerian oil sector’s inaugural Industry Stakeholders’ Forum in Abuja. The forum aims to align policies, regulations, and activities…

South Korea is exploring opportunities to increase imports of U.S. oil and natural gas to diversify its energy sources and safeguard against potential supply disruptions stemming from ongoing instability in…

In a notable shift, the European Union (EU) is ramping up its efforts to reduce Russia’s economic and military leverage following the country’s ongoing invasion of Ukraine. Over the past…

Indian Oil Corporation (IOC), the largest refiner in India, has secured 7 million barrels of crude oil through spot purchases from the Middle East and Africa. This includes a rare…

Sparkle Clean Tech, a leading global provider of process technologies and sustainable energy solutions for upstream oil and gas clients, has announced a strategic licensing agreement with Siemens Energy. The…

Shell has commenced commercial production at the Whale field, located in the Gulf of Mexico, with expectations to reach peak output levels of 100,000 barrels per day. This new venture…

A new oil refinery with a daily production capacity of 600 tons has officially commenced operations in Afghanistan’s northern Balkh province, according to officials from the Taliban. The facility, which…

Shell has announced it will write down approximately $400 million on its offshore oil discovery in Namibia, a significant setback for the country’s aspirations to become an oil producer. The…

U.S. President Joe Biden declared on January 6, 2025, a sweeping ban on new offshore oil and natural gas drilling across several vital U.S. coastal regions, marking a significant step…

The Indian Strategic Petroleum Reserves (ISPRL) is considering the establishment of a new strategic crude oil reserve in Madhya Pradesh to ensure a reliable supply for refineries in northern India…

The Bangladesh Petroleum Corporation (BPC) is poised to save an estimated Tk760 crore in premiums for fuel oil imports during the first half of 2025. This reduction comes as a…

Seplat Energy, a prominent Nigerian oil company listed on the London Stock Exchange, has announced plans to significantly ramp up its production capacity to 120,000 barrels per day within the…

President Joe Biden is expected to implement a permanent ban on new oil and gas drilling in substantial sections of the Atlantic and Pacific Oceans, as well as other federal…

Equinor’s Hammerfest LNG facility in Arctic Norway has experienced another setback, this time caused by a compressor failure, according to a regulatory statement from Gassco. Operations at Europe’s largest LNG…

CNOOC Limited has successfully brought three significant oilfields online in the South China Sea, marking a crucial advancement in its long-term strategic goals. The integrated Panyu project, encompassing the Panyu…

In a significant move aimed at addressing Nigeria’s persistent fuel supply challenges, Dangote Petroleum Refinery has announced a partnership with Heyden Petroleum and Ardova Plc to ensure the availability of…

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has set a target of 367.5 million barrels of crude oil for production by oil companies in the first half of 2025, marking…

Gas prices in the Permian Basin are set to experience significant volatility in the coming years, with stability expected to return only after critical new pipeline infrastructure becomes operational in…