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Oil & Gas

Oil Prices Post 3% Annual Decline

Oil Prices Post 3% Annual Decline

Oil Refinery
28-10-2025

Mexico’s Pemex Pumps Less, Refines More in Third Quarter
Mexican state energy company Pemex reported reduced crude oil extraction but increased refining activity in the third quarter, according to its Monday announcement. The firm also disclosed a narrower net loss compared to the previous year's corres
Oil Refinery
27-10-2025

Dangote Refinery to Expand Capacity to 1.4m Barrels Daily
The Dangote Petroleum Refinery, Africa’s largest refining facility, is set to undergo a major expansion that will increase its production capacity from 650,000 barrels per day (BPD) to 1.4 million BPD within three years. Upon completion, the exp
Oil Shale
25-10-2025

Sinopec Announces Discovery of New Shale Oil Reserve in Southwest China
On October 23, 2025, Sinopec, China’s leading oil refiner, announced the discovery of a significant shale oil reserve in the Sichuan Basin, southwest China, with an estimated volume of 100 million tonnes. The find, located in the Qijiang Distric
Crude Oil
25-10-2025

Texas Pipe Producer Wins Contract for Mexico’s First Deepwater Oil Development
Texas-based Tenaris has secured a major contract to supply casing and tubing for Mexico’s first deepwater oil development project, Trion, located in the Perdido Fold Belt. The contract covers the delivery of 12,000 tons of casing and tubing, inc
LNG
24-10-2025

CP2 LNG in Louisiana Gets Export Permit
The United States Department of Energy (DOE) has granted final authorization for Venture Global Inc.’s CP2 LNG project in Cameron Parish, Louisiana, to export liquefied natural gas (LNG) to countries without a free trade agreement (FTA) with the
Oil Field
23-10-2025

Petrobras and Equinor Big Winners in Brazil’s Pre-Salt Auction
The Netherlands will cull around 161,000 chickens at a poultry farm in the central-eastern region of the country after bird flu was detected there, the government said in a statement on Wednesday. The cull is part of the country’s efforts to con
Oil Refinery
22-10-2025

Russia Ships First Oil to New Refinery in Georgia
Russian oil producer Russneft (RNFT.MM) has delivered its first oil cargo to Georgia’s newly constructed Kulevi oil refinery this month, according to LSEG ship-tracking data and industry sources. The delivery marks the beginning of crude supply
LNG
21-10-2025

Venture Global Ready to Introduce Natural Gas Into Final Part of Plaquemines LNG Plant
Venture Global (VG.N) has requested authorization from the Federal Energy Regulatory Commission (FERC) to begin introducing natural gas by Thursday into the final block of its Plaquemines LNG facility in Louisiana, according to a regulatory filing release
Oil Field
20-10-2025

McDermott Finishes Debut Subsea Project in Angola for TotalEnergies
U.S. offshore engineering and construction company McDermott has completed its first subsea project in Angola, working with TotalEnergies on the Begonia field development. The company announced on October 16 that it had finalized engineering, procurement,
Oil Field
19-10-2025

Equinor Starts Production in Bacalhau Offshore Brazil
Equinor ASA, along with its partners, has initiated production at the Bacalhau field in Brazil's offshore Santos Basin. The Norwegian energy company, majority state-owned, described this as its largest overseas development.Equinor and its partners
Oil Refinery
15-10-2025

Indian-Backed Oil Refinery in Mongolia Should Begin Operations in 2028, India Says
An Indian-supported oil refinery project in Mongolia is expected to begin operations in 2028, according to India’s Ministry of External Affairs on Tuesday. The announcement coincided with the visit of Mongolian President Khurelsukh Ukhnaa to Ind
Crude Oil
19-10-2025

First Oil Flows From Offshore Project in Southeast Asia Ahead of Schedule
Vietsovpetro, the Vietnam–Russia joint venture between PetroVietnam and Zarubezhneft, has achieved first oil production from the BK-24 wellhead platform at the Bach Ho field off the coast of Vietnam, marking an early milestone for 2025. Accordin
Oil & Gas Trade
14-10-2025

Algeria Signs $5.4 Billion Oil and Gas Deal With Saudi Firm Midad Energy
Algeria’s state-owned energy company Sonatrach announced on Monday that it has signed a production-sharing contract worth approximately $5.4 billion with Saudi Arabia’s Midad Energy for oil and gas exploration and development in the Il
LNG
11-10-2025

Argentina’s YPF, ENI Finalize Vaca Muerta LNG Deal
Italy’s Eni and Argentina’s state-controlled energy company YPF announced on Friday that they have finalized an engineering agreement for a major liquefied natural gas (LNG) project based on Argentina’s Vaca Muerta shale formation. The signing took place
Oil Refinery
10-10-2025

BPCL Secures Land for $11 Billion Refinery Project in Southern India
India’s state-run Bharat Petroleum Corporation Limited (BPCL) will invest nearly $11 billion to construct a new refinery with a capacity of 180,000 to 240,000 barrels per day in the southern state of Andhra Pradesh, according to an order issued
Oil Field
09-10-2025

Exxonmobil Mulls Iraq Reentry With Majnoon Deal
Exxon Mobil Corp. is preparing to return to Iraq after nearly two years, with plans to sign agreements that could pave the way for exploring the country’s Majnoon oil field.ExxonMobil is considering re-entering Iraq after a nearly two-year hiatu
Oil&Gas Drilling
30-09-2025

Equatorial Guinea to Open Its 2026 Oil and Gas Licensing Round in April
Equatorial Guinea will open a new oil and gas licensing round in April 2026 to encourage exploration and offset declining oil production, Minister of Hydrocarbons and Mining Development Antonio Oburu Ondo said on Monday.Equatorial Guinea's Ministe
Oil Field
29-09-2025

Vitol Seals Acquisition of 30 Percent Stake in Ivorian Field
Eni SpA, an Italy-based global energy company, has finalized a 30 percent stake sale of the Baleine field offshore Cote d'Ivoire to Vitol Group, reducing Eni’s ownership to 47.25 percent. Petroci maintains a 22.75 percent stake. The tran
Oil Field
26-09-2025

Nigeria Approves Shell, Agip Buyout of TotalEnergies’ Stake in Bonga Oilfield
Nigeria’s oil regulator has approved a $510 million agreement by TotalEnergies to sell its 12.5% interest in Oil Mining Lease (OML) 118, which contains the offshore Bonga oilfield, to Shell and Agip. The Nigerian Upstream Petroleum Regulatory Co
LNG
03-10-2025

Mercuria to Supply Botaş With US-Sourced LNG Until 2045
Global energy and commodity company Mercuria has signed a long-term liquefied natural gas (LNG) purchase and sale agreement with Türkiye’s state-owned Petroleum Pipeline Corporation (BOTAŞ). The contract, signed during the 80th Session
Natural Gas
25-09-2025

Poland’s Gas Storage Hits 100%, Highest in EU, Minister Says
Poland's gas storage facilities have reached full capacity, with Energy Minister Miłosz Motyka announcing on Wednesday that they are now 100% full. In a post on X, Motyka highlighted this achievement, stating: "Gas storage in Poland is 100% f
Oil Field
24-09-2025

Exxon Greenlights $6.8 Billion Investment for Hammerhead Project in Guyana
Exxon Mobil announced on Monday the approval of funding for its seventh oil development project, named Hammerhead, in Guyana’s Stabroek Block. This milestone moves the company’s joint venture closer to its target of producing 1.7 milli
Crude Oil
22-09-2025

China’s Sinopec Upgrading Xinjiang Refining and Chemical Projec
China’s Sinopec has launched construction work to upgrade its integrated refining and petrochemical project in Xinjiang, the company announced on Saturday. Sinopec, recognized as the world’s largest refiner by capacity, said the initia
LNG
20-09-2025

Spain-Headquartered Asterion Comes on Board France’s Largest LNG Terminal
Asterion Industrial Partners, an investment management company headquartered in Madrid, has expanded its European energy portfolio by acquiring a stake in one of the largest liquefied natural gas (LNG) terminals in continental Europe. The firm announced t
LNG
19-09-2025

Oil India Sees Restart of Mozambique LNG Project by Year’s End
India’s state-run Oil India Ltd announced that development of a $20 billion Mozambique liquefied natural gas (LNG) project, operated by TotalEnergies, is expected to restart by the end of this year. Chairman Ranjit Rath said on Thursday that the

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