News

Petronas, Malaysia’s leading oil and gas company, has signed 11 memoranda of understanding (MoUs) aimed at enhancing the country’s oil and gas services and equipment sector. The agreements, inked through…

International Oil Companies (IOCs) operating in Nigeria are under fire for consistently bypassing local refineries in favor of foreign traders, despite clear mandates under the country’s Petroleum Industry Act (PIA).…

Cameroon’s oil production is projected to fall to 2.9 million tons in 2025, marking its lowest output since at least 2023, according to the latest report from the Monetary Policy…

The Trump administration’s tariff policies, designed to bolster U.S. manufacturing and impose punitive measures on China, have significantly disrupted global supply chains, including those in the oilfield services (OFS) sector.…

Irish Ferries has announced a significant step towards sustainability with its high-speed catamaran, the Dublin Swift, becoming the company’s first vessel to use hydrotreated vegetable oil (HVO) as a fuel…

TotalEnergies has officially commenced production from its deepwater Ballymore field, situated 120 kilometers off the Louisiana coast, the company announced in a press statement. The field, which was initially launched…

BP has announced a significant oil discovery at its Far South prospect in the deepwater U.S. Gulf of Mexico, marking a key development in the company’s renewed commitment to upstream…

The Organization of the Petroleum Exporting Countries (OPEC) announced Wednesday that it has received updated oil output compensation plans from eight member states that recently surpassed their voluntary production limits…

In a strategic move to bolster its dwindling energy reserves, Indonesia has awarded five oil and gas blocks to several domestic and international companies, the Ministry of Energy and Mineral…

The European Commission confirmed Monday that it will unveil a long-awaited strategy to phase out Russian oil and gas imports on May 6, after multiple delays. The plan, originally scheduled…

Brazil’s oil regulator has set June 17 as the date for a major auction of offshore drilling rights, including highly contested blocks in the environmentally sensitive Foz do Amazonas region—despite…

Dormant for decades, Alaska’s ambitious liquefied natural gas (LNG) megaproject is stirring once again—fuelled by political backing and strategic courting of Asian energy buyers. But while the project’s future remains…

Crude oil is on track to end another week in the red, battered by mounting fears over the global economic fallout from President Donald Trump’s aggressive tariff campaign—despite a partial…

China is tightening its grip on Iraq’s oil and gas sector, with the latest strategic contract reinforcing its growing dominance. The Iraq Oil Ministry’s renewed commitment to raising national crude…

The U.S. Department of the Interior has announced a significant upward revision of oil and gas reserve estimates in the Gulf of Mexico, a region the Trump administration has renamed…

Saudi Arabia is set to significantly increase its crude oil exports to China in May, driven by aggressive price cuts aimed at retaining market share amid global trade tensions and…

The Trump Administration has rescinded licenses for oil giants BP and Shell, along with their partners, to operate natural gas projects offshore Venezuela, a move that will disrupt plans to…

Saudi Aramco, the national oil giant of Saudi Arabia, revealed Wednesday that it has discovered 14 new oil and natural gas reserves, with the potential to add more than 80…

Global oil and gas companies are shifting their exploration strategies to prioritize cost-effective projects, focusing on drilling near existing infrastructure rather than high-risk frontier plays. As energy firms navigate a…

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…