News

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…

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…