Oil reserve

Japan

Japan to start releasing state oil reserves on March 26

March 24 - Japan plans to start releasing oil from joint stockpiles ​held by producing nations in the country ‌by the end of March, Prime Minister Sanae Takai…

Crude Oil

Spain to release 11.5M barrels from strategic oil reserves

The Spanish government on Tuesday approved the release of up to 11.5 million barrels of oil from its reserves in a bid to ease supply shortages.Speaking to repo…

Oil Shale

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 Chin…

Crude Oil

South Africa Wants $100 a Barrel Oil Before Selling More Crude Stocks

South Africa will hold off on selling more of its strategic crude oil reserves until global oil prices climb to about $100 per barrel, a senior energy official …

Oil Field

Oilfield With 100 Million Tons of Shale Oil Reserve Certified in E.china

The Shengli Oilfield, under China Petrochemical Corp (Sinopec Group), the country's largest oil refiner, said its Jiyang shale gas oilfield has officially p…

Crude Oil

EIA Confirms Turkmenistan’s Rising Oil Reserves

Turkmenistan continues to strengthen its position as a key energy producer, with proven oil reserves reaching 600 million barrels as of January 1, 2025, accordi…

Oil Field

Iraq Declares Discovery of Huge Oil Field

The state-owned Iraqi Midland Oil Company said that it has discovered huge oil reserves in the East Baghdad oil fieldMohammed Yassin Hassan, director general of…

Crude Oil

Trump Says He’ll Fill US Strategic Oil Reserve ‘Right to the Top’

President Donald Trump said he plans to fill the US’s strategic oil reserve right to the top after it reached lows not seen since the 1980s under Presiden…

Oil Field

New Oil Reserves Identified in Xinjiang’s Tarim Basin, Signaling Vast Potential

China has identified newly proven oil equivalent reserves of 55.56 million tons in the Tarim Basin, located in the Xinjiang Uygur autonomous region, the China G…

Oil & Gas Trade

New Offshore Platform Taps Into Potential Of Heavy-oil Reserves In China

The world's first mobile thermal-injection platform was recently delivered in China's Shandong province, offering new opportunities to tap into China…

Oil & Gas Trade

Oil Tycoon Emmanuel Fritz Paret Acquires 150 Wells, 140 Million Barrels of Oil in Kentucky Reserve Deal

Haitian-American oil tycoon Emmanuel Fritz Paret, CEO of Paret Mining LLC, has acquired a 10,000-acre oil reserve in Bowling Green, Kentucky. The acquisition in…

Oil Field

Kuwait Announces ‘Giant’ Oil Discovery

Kuwait Petroleum Corporation (KPC) said on Sunday it had made a "giant" oil discovery in the Al-Nokhatha field east of the Kuwaiti island of Failaka, with oil r…

Oil & Gas Trade

US Could Boost Rate of Replenishing Oil Reserve, Energy Secretary Granholm Says

U.S. Secretary of Energy Jennifer Granholm listens to questions from the audience during the PR100 event in Orocovis, Puerto Rico, March 28, 2023. REUTERS/Gabri…

Oil&Gas Drilling

Kazakhstan’s Oil Reserves Reach 4.4 Billion Tons

Kazakhstan’s current oil reserves amounted to 4.4 billion tons as of the beginning of the year, said the Energy Ministry in an official response to Tengri…

Oil & Gas Trade

Democratic Republic of the Congo (DRC) Seeks to Unlock Estimated 5 Billion Barrels of Oil

With 180 million barrels of proven oil reserves – and up to 5 billion of estimated oil reserves – the Democratic Republic of the Congo (DRC) is emba…