News

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…

Oil prices are forecasted to remain near $70 per barrel throughout 2025, as weak demand from China and increasing global supplies are expected to undermine OPEC+-led efforts to stabilize the…

Shell has temporarily halted operations at its oil processing unit on Pulau Bukom, Singapore, following a suspected oil leak discovered on December 26, 2024. The company confirmed the presence of…

The Nigerian government is aiming for a significant boost in crude oil production, setting a target of three million barrels per day (bpd) by 2025, according to Heineken Lokpobiri, Minister…

PTT Oil and Retail Business Public Company Limited (OR) is expanding its global footprint and strengthening its commitment to sustainability, even in the face of challenging market conditions. The company…

The Central Bank of Nigeria (CBN) has highlighted critical issues surrounding the country’s aging oil infrastructure as a significant factor contributing to the sharp decline in oil revenue during the…

MRS Oil’s market value surged by 21% last week, despite a shortened trading session on the Nigerian stock market. The company’s stock reached a fresh 52-week high on Friday, driven…

Moldova’s breakaway region of Transnistria has begun limiting gas supplies in anticipation of the expiration of a key transit agreement between Russia’s Gazprom and Ukraine’s Naftogaz. The move follows Ukrainian…

In a recent interview, Vetsa Ramakrishna Gupta, the Chief Financial Officer of Bharat Petroleum Corporation Limited (BPCL), revealed that the Indian state-run refiner has turned to Middle Eastern crude oil…

India is set to surpass China in oil demand growth by the end of 2024, positioning itself as one of the fastest-growing consumption hubs in the global oil market, according…

Turkey has announced plans to assist in increasing oil and natural gas production in Syria, marking a significant step in its efforts to become more involved in the reconstruction of…

The Nigerian National Petroleum Company Limited (NNPC) has unveiled a new initiative aimed at revolutionizing the monitoring and management of oil and gas production. The Production Monitoring Command Centre (PMCC),…

Kuwait Oil Company (KOC) announced a significant achievement in its heavy oil operations, reaching a production milestone of 90,000 barrels per day. This marks a first in the company’s history…

Iraq has suspended crude oil shipments to Syria, a move confirmed by a member of the Iraqi parliament, Mustafa Sanad, via social media. The decision comes in the wake of…

US president-elect Donald Trump has issued a stark warning to the European Union, demanding that it make substantial purchases of American oil and gas or face the imposition of tariffs.…

Crude oil exports from the United States to Europe are anticipated to decrease next month, following a narrowing price gap between West Texas Intermediate (WTI) and Brent crude, citing industry…

The Cabinet has approved the extension of a Government-to-Government (G-to-G) oil import agreement with three Gulf oil giants, Saudi Aramco, Abu Dhabi National Oil Company (ADNOC), and Emirates National Oil…

Shell Nigeria Exploration and Production Company Limited (SNEPCo), a subsidiary of the UK-based Shell, has made a final investment decision (FID) to proceed with the Bonga North deepwater oil and…