Latest Stories

Middle East crude exports rebound to seven-month high

Middle East crude shipments climbed to 12.8mn bpd in September, the highest since the US-Israeli conflict with Iran erupted in February

Iran claims Kharg crude exports rose during war

Iran exported 70mn barrels of crude from Kharg Island in the Persian Gulf during the first 39 days of the war, 10% more than in the comparable period before the conflict, the head of Iranian Oil Terminals Co. (IOTC) said.

Iran looks to save nearly 1bcm of gas savings for winter

Iran plans to save 979mn cubic metres (mcm) of gas over the next five months, including the coming winter, through a nationwide efficiency programme involving private-sector energy service companies.

EnerSyn-linked venture plans $4mn CNG station in Nigeria's Lagos

EnerSyn Global said that China Gas Africa Clean Energy Investment Holdings (CGA), a joint venture it is in the process of acquiring an interest in, plans a $4mn compressed natural gas mother station in Lagos, Nigeria.

Israel's Navitas takes over as operator of South Africa Orange Basin block after Eco farm-down

Navitas Petroleum has assumed operatorship of Block 1 CBK offshore South Africa after acquiring 37.5% from Eco, with the partners now advancing seismic work and a planned two-well exploration programme in the Orange Basin.

Stalled Citgo sale holds a key to US leverage and Venezuela’s economic recovery

A court-mandated $9bn transaction to sell Citgo Petroleum Corp. to Elliott Management and startup affiliate Amber Energy has ground to a halt, as the US Treasury Department continually shields the Houston-based refiner from seizure by creditor

Venezuelan crude output could reach around 1.6mn barrels per day by 2028, says Rystad

Venezuela’s upstream petroleum industry is drawing its most diverse array of international energy companies and foreign capital in decades

Colombia cuts diplomatic ties with Iran over alleged terrorism links, Tehran rejects move

Namibia oil and gas sector drew over half of FDI in 2021-25, as Venus decision awaits

Namibia's oil and gas sector drew $4.5bn in FDI in 2021-25, 56% of inflows, the central bank says, as TotalEnergies' Venus awaits a final investment decision.

German petchems producer Evonik turns down takeover offer from BASF

German specialty chemicals producer Evonik Industries has rejected an initial takeover approach from BASF as too low, complicating efforts by Europe's largest chemicals group to pursue a potentially transformative consolidation deal.

Vietnam’s BSR signs ExxonMobil crude framework deal for Dung Quat

Vietnam's Petrovietnam Refining and Petrochemical Corporation has signed a framework agreement with ExxonMobil for crude supplies to the Dung Quat refinery, expanding its pool of international suppliers as it seeks greater flexibility over feedstock.

Japan's INPEX raises stake in Australia's Ichthys LNG project

Japan's INPEX has agreed to acquire JERA's 0.735% interest in Australia's Ichthys LNG project, increasing its controlling stake in one of Asia-Pacific's largest LNG developments to 68.6%.

Indian Oil buys 2mn barrels of Iraqi crude at $28 discount

Indian Oil Corporation, India’s largest refiner, has bought 2mn barrels of Iraqi Basra Medium and Basra Heavy crude at a discount of about $28 a barrel to the October Dubai benchmark.

Turkey's TPAO seeks licence for oil deposit near flagship Sakarya offshore gas field

Turkey's state-owned TPAO has applied for a production licence covering an oil-bearing area in the Black Sea, potentially opening a new offshore oil development frontier alongside the country's rapidly expanding Sakarya gas project.

Kazakh court rejects NCOC challenge to $5bn Kashagan fine enforcement

A Kazakh court has rejected an attempt by North Caspian Operating Company to overturn enforcement measures connected with a KZT2.36 trillion environmental fine at the giant Kashagan oilfield.

TotalEnergies takes FID on next phase of Azerbaijan's Absheron gas field

France’s TotalEnergies and its partners have taken a final investment decision (FID) on the full development of Azerbaijan's Absheron gas and condensate field, which will quadruple gas production to 6 bcm per year from 2029.

Russia cuts domestic gas supply requirement at Sakhalin 2

Russia has cut the amount of gas from the Sakhalin-2 project earmarked for consumers in the country's Far East over the next three years, potentially leaving more production available for LNG exports.

Moldova approves 30% hike in household gas prices amid spike in import costs

Moldova's energy regulator has approved a 29% increase in household natural gas prices from October 1, marking the second sharp rise in a month as higher European gas prices feed through into state supplier Energocom's procurement costs.

Kazakhstan sells 300,000 tonnes of sulphur in Russia in June-July amid export restrictions

More than 300,000 tonnes of sulphur produced in Kazakhstan was diverted to the Russian domestic market in June and July after restrictions prevented producers from moving cargoes through Russia to export ports.

Chinese investor takes stake in Kazakh gas developer

Kazakhstan-focused Sozak Oil and Gas underwent a major shareholder reshuffle in the first half of this year, with Chinese technology company Yongyou Technology Services emerging as its largest shareholder.

Syria begins transiting imported petrol to Iraq via Baniyas

Syria has begun transiting imported petrol to Iraq through the Baniyas oil terminal under a renewable three-month agreement.

Morocco puts African Atlantic Gas Pipeline into UN financing pitch as Q4 FID target looms

Morocco is pushing the $25bn African Atlantic Gas Pipeline into multilateral and private financing channels as construction funding remains unresolved and a Q4 2026 FID target approaches.

Israel's Nofar Energy to sell legacy solar power portfolio

Ukraine races to rebuild power system as Russia prepares new strikes

Russia destroyed 9 gigawatts of Ukrainian power generation capacity last winter and has prepared detailed plans for new attacks on the country's energy system, while Ukraine is accelerating investment in renewable generation and energy storage.

Kenya's South Lokichar oil project advances as drilling rig arrives in Mombasa

Gulf Energy has received the GW70 drilling rig in Mombasa ahead of South Lokichar drilling, with first oil still targeted for December 2026.