Latest Stories

Vitol and Trafigura push for deeper Venezuelan crude discounts

International oil traders Vitol and Trafigura are demanding deeper discounts on Venezuelan crude as record ocean freight rates eat into their margins.

Seychelles seeks World Bank-backed pipeline of up to five investment projects

Seychelles has proposed working with the World Bank Group to identify and develop three to five bankable investment projects in renewable energy and storage, digital infrastructure and services, resilient tourism and other sectors.

TotalEnergies, AMNI take FID on Nigerian Ima gas project supplying NLNG Train 7

TotalEnergies and AMNI have taken FID on the offshore Ima gas project, expected to start in 2028 and supply around one-third of the gas needed for Nigeria LNG’s Train 7 expansion.

Saipem, Petrofund launch Namibia upstream skills partnership

Italian group Saipem (BIT: SPM) and Namibia’s Petroleum Training and Education Fund (Petrofund) have signed a memorandum of understanding to expand technical training and develop local skills for the country’s emerging upstream hydrocarbon sector.

Bolivia's oil chamber urges new rules to revive collapsing hydrocarbons sector

Bolivia's Chamber of Hydrocarbons and Energy (CBHE) called on the government on September 21 to establish a new regulatory framework to recover investment and rebuild oil and gas reserves.

Bolivia scraps diesel subsidy for small consumers as gas output collapse forces reckoning

Bolivia's government under President Rodrigo Paz eliminated the diesel subsidy for small consumers on September 19, nearly doubling the price per litre from 9.80 to 17.95 bolivianos (roughly $1 to $1.83).

Turkey signs US grant deal to prepare for small nuclear reactors

The US will pay for a study to help Turkey prepare the ground for small modular nuclear reactors (SMRs), as Ankara looks to cut its reliance on Russia for nuclear power.

Hurricane Polo becomes second most intense eastern Pacific storm off Mexico

Hurricane Polo has exploded from a tropical storm into a Category 5 hurricane in about a day off Mexico's Pacific coast, becoming the second most intense storm on record in the eastern Pacific.

Kenya Power clears $350mn syndicated loan as profit rises 2.1%

Azerbaijan pardons French prisoner hours after EU delists Usmanov

Azerbaijani President Ilham Aliyev pardoned jailed French citizen Martin Ryan on September 23, hours after the EU dropped tycoons Alisher Usmanov and Mikhail Fridman from its sanctions list.

Iraq offers 2mn barrels of Basra Heavy crude for spot sale

Iraq has launched a tender to sell 2mn barrels of Basra Heavy crude for loading between September 27 and 30, with the cargo to be transferred between vessels off the coast of Oman outside the Strait of Hormuz.

Netherlands cuts gas-storage filling target to 93 TWh

The Netherlands has cut its gas-storage filling target for the coming winter to 93 TWh from 115 TWh, following a European Commission call to ease storage requirements amid tight market conditions.

Italy, Norway deepen energy ties amid supply concerns

Italy and Norway have pledged to deepen energy cooperation as Rome seeks to strengthen supply security amid renewed volatility in global oil and gas markets.

Vallourec wins Prinos CO2-storage tubular contract in Greece

France’s Vallourec has won a contract to supply tubular products for the first phase of the Prinos CO2 storage project offshore Greece.

TotalEnergies commits €100mn to AI for oil and gas exploration

TotalEnergies will invest more than €100mn in a three-year partnership with French artificial intelligence company Mistral to develop advanced AI models for oil and gas exploration and reservoir engineering.

UK's Ithaca Energy joins FTSE 100 after rapid North Sea expansion

UK-based Ithaca Energy has joined the FTSE 100 index, marking another milestone in its rapid expansion into one of the UK North Sea’s largest independent producers.

Norway’s DNO publishes scheme document for Capricorn takeover

Norway’s DNO has published the scheme document for its recommended takeover of London-listed Capricorn Energy, advancing the deal towards shareholder votes next month.

Fulkrum wins Vår Energi inspection framework off Norway

London-based Fulkrum has secured an inspection services framework agreement with Vår Energi, supporting a portfolio of offshore projects on the Norwegian Continental Shelf.

Hornbeck lands two-year UK North Sea decommissioning contract

New York-listed Hornbeck Offshore Services has secured a two-year decommissioning contract in the North Sea, with work due to begin in the second quarter of 2027.

UK drone completes first cross-border offshore methane survey into Norway

UK drone operator Flylogix has completed what it described as the country’s first civilian cross-border offshore drone flight, surveying methane emissions at Equinor’s Statfjord B platform in Norwegian waters.

SLB wins Johan Sverdrup Phase 3 monitoring contract off Norway

Global oilfield services company SLB has won a contract from Equinor (OSE) to expand real-time production monitoring across the Johan Sverdrup Phase 3 development in the Norwegian North Sea.

Norway’s Aker BP makes small North Sea gas discovery

Norway’s Aker BP has made a small gas discovery at the Alpehumle prospect in the North Sea, with recoverable resources estimated at 1-15mn barrels of oil equivalent.

Al-Sharaa says Syria seeks to revive Iraqi oil route to Mediterranean

Syrian President Ahmed al-Sharaa said Damascus is working on a project to link Iraqi oilfields with Syrian Mediterranean ports, while seeking to expand economic and security cooperation with Baghdad.

Halliburton wins multi-year Cronos drilling contract offshore Cyprus

Halliburton has secured a multi-year contract from Eni covering well construction and completions at the Cronos gas development offshore Cyprus.

UK’s INEOS mothballs three UK chemical plants over high gas prices

The UK’s INEOS has begun mothballing all three of its acetyls plants in Hull, northern England, blaming soaring European gas prices for making production uncompetitive against rivals in the US and China.