Latest Stories

Trafigura says $300mn DRC-Zambia power link could cut miners' annual costs by $1bn

Mining companies in the DRC could save approximately $1bn annually in electricity costs through a proposed $300mn cross-border electricity transmission project linking the country with Zambia, according to commodity trader Trafigura

Colombia reserves 19.9mn hectares for future oil and gas offerings

Colombia has reserved an additional 19.9mn hectares for potential oil and gas development, including 4.7mn offshore hectares, under a resolution covering 12 sedimentary basins

US intercepts 90 Cuba-bound biodiesel shipments worth nearly $3mn

US authorities intercepted 90 shipments of biodiesel bound for Cuba, worth nearly $3mn and containing more than 600,000 gallons, in Houston and South Florida before the cargo left the country, as Washington steps up enforcement of sanctions on Havana

Ghana’s dollar-pricing dispute complicates Tullow crude sale to Sentuo refinery

Sentuo Oil Refinery has urged Ghana to price domestic crude in cedis, citing currency losses, as Tullow Oil (LSE: TLW) confirms its first Jubilee cargo sold for local refining.

Mozambique urged to strengthen finances ahead of expected LNG revenue surge

Mozambique must strengthen its financial management systems and diversify its economy ahead of an expected surge in natural gas revenues, after collecting $252.8mn from Rovuma Basin production between 2022 and 2025.

Bosnia's RiTE Ugljevik reportedly faces fresh shutdown as accounts blocked again

Bosnia's RiTE Ugljevik power plant is facing another shutdown after most of its bank accounts were blocked, adding to financial problems at one of Bosnia's biggest electricity producers.

Chevron to offload certain midstream assets in exchange for amended Bakken midstream terms

Chevron has agreed to restructure the terms of its Bakken midstream contracts and establish new DJ Basin midstream contracts while transferring its ownership interests and general partner position in Hess Midstream and DJ Basin midstream assets.

Oil overtakes soybeans as Brazil's top export in 2026

Crude oil has replaced soybeans as Brazil's biggest export so far this year, helped by higher volumes and prices.

TechnipFMC wins Petrobras flexible pipe contract for pre-salt fields

TechnipFMC has won a contract worth $75-250mn from Brazil's state-owned oil company Petrobras to supply flexible pipe systems for offshore developments.

Ecuador's heavy crudes sink to record discounts as freight costs and rival barrels bite

Ecuadorean heavy sour crudes fell to record-wide discounts to WTI on October 6, as higher freight rates and stiff competition from similar-quality grades weighed on prices.

Ecuador's Río de Oro solar plant starts private power supply three months early

GPS Group's Río de Oro Energy photovoltaic plant in Santa Elena province began supplying electricity to private companies on September 15, three months ahead of schedule, the company said.

Valaris wins $220mn in Suriname, Australia, North Sea deals

Offshore driller Valaris (NYSE: VAL) has booked roughly $220mn of new backlog since its August fleet update, winning fresh contracts and extensions in Suriname, Australia and the North Sea.

Canada’s Condor increases funding for Uzbek gas and Kazakh LNG projects to up to C$70mn

Suncor to sell stakes in three Eastern Canadian oilfields to Ithaca

Suncor Energy has agreed to sell its stakes in the Terra Nova, White Rose and West White Rose oilfields offshore Eastern Canada to UK-based Ithaca Energy.

Mexico's private gasoline imports fall as Pemex pricing bites

Private gasoline imports into Mexico fell 34% year on year in August as delivered fuel costs climbed 45%.

Chevron names CFO to unit that includes Guyana

Chevron (NYSE: CVX) has appointed its chief financial officer, Eimear Bonner, to run its Oil, Products & Gas division, a business that includes the US major's stake in Guyana's Stabroek Block.

ExxonMobil to repair Guyana gas pipeline before project launch

ExxonMobil Guyana, the local unit of US oil major ExxonMobil (NYSE: XOM), will carry out maintenance on a nearshore stretch of its gas pipeline off Crane, West Coast Demerara, from October 14 until around December 1.

Nigeria says over 50 idle oilfields recovered under drill-or-drop policy

Nigeria’s upstream regulator NUPRC says it has reclaimed more than 50 undeveloped oilfields and returned them to licensing rounds. Non-performing licence holders have until October 31 to report on their progress.

Wind turbine maker Nordex secures 389 MW of new orders in Turkey

Hamburg-based wind turbine maker Nordex Group (NDX1.DE) announced in an October 7 press release that September saw it secure several new orders totalling 389 megawatts in Turkey.

Canada to fast-track Pacific Link pipeline project review in potential boost to oil sands investment

Ottawa has announced that it is listing the proposed Pacific Link oil pipeline as a project of national interest, putting it on course for an expedited regulatory review process.

East African investors offered $300mn slice of Nigeria’s Dangote refinery IPO

East African investors can buy into Nigeria’s $1.6bn Dangote refinery IPO through about 729mn depositary receipts priced at KES53.50 and planned for listing in Nairobi. The offer closes on October 13.

Iranian giant beats oil, gas targets in western fields

The state-owned Iranian Central Oil Fields Co. (ICOFC) exceeded its oil production target the west by 3% in the first half of the Persian calendar year and surpassed its gas target at the Tang-e-Bijar field by 6%, its chief executive said.

Rockhopper commits $44mn to second oil vessel for Falklands Sea Lion project

Britain’s Rockhopper Exploration has agreed to invest $44mn in a second floating production, storage and offloading vessel for the Sea Lion oil project near the Falkland Islands (also known as Malvinas)

Argentina vows to block Falklands offshore oil development, foreign minister says

Argentina will seek to prevent offshore oil development around the Falkland Islands (also known as Malvinas) as part of President Javier Milei's strategy to pursue the country's sovereignty claim through peaceful means, Foreign Minister Pablo Quirno

Yinson prices $1.46bn bond issue to refinance offshore oil vessel in Angola

Yinson Production has priced $1.458bn of senior secured bonds at 6.517% to refinance its Agogo FPSO off Angola, chartered to BP-Eni venture Azule Energy. It calls the deal the largest FPSO project bond to date.