Petrol

Oil and Gas Equipment

PetroChina Proposes to Buy Gas Facilities From CNPC in $5.59 Billion Deal

On August 26, 2025, PetroChina (601857.SS) announced a plan to acquire three natural gas storage facilities from its majority shareholder, China National Petrol…

Oil Shale

China Marks Major Milestone in Exploration With Discovery of Deep Shale Gas Field

China has achieved a key milestone in shale gas exploration with the discovery of a large-scale deep shale gas field in its southwestern region, with proven res…

Wind Power Project

Ecopetrol Completes Acquisition of Windpeshi Wind Project in Colombia

Ecopetrol, Colombia’s state-owned energy company, has acquired full ownership of Compañía Wind Autogeneración, the entity managing th…

Solar Power Plant

Sinopec Launches First Floating Offshore Solar Plant in China’s Seawater Zone

China Petroleum & Chemical Corporation (Sinopec), in collaboration with Shandong Province and Qingdao Municipality, has begun operations at China’s first …

Oil & Gas Trade

US Winds Down Exports of LPG to Venezuela, Treasury Says

On July 7, 2025, the U.S. Treasury Department announced the termination of a license permitting shipments of liquefied petroleum gas (LPG) to Venezuela’s …

China

Marubeni and Sinopec to Explore Lower-Carbon Marine Fuels in Strengthened Collaboration

Marubeni Corporation, a Japanese conglomerate, has entered into a new strategic partnership with Sinopec Fuel Oil Sales, a subsidiary of China Petroleum & Chemi…

LNG

Woodside Energy Signs LNG Supply Deal With Petronas Unit

On June 18, 2025, Australia’s Woodside Energy (WDS.AX) announced a new agreement with a subsidiary of Malaysia’s Petroliam Nasional (IPO-PETO.KL). T…

Oil Field

Iraq and China’s Geo-Jade Sign Deal for Tuba Oilfield Expansion

Iraq has entered into an agreement with a consortium led by China-based Geo-Jade Petroleum Corp and Basra Crescent to advance an integrated energy project at th…

Nigeria

Nigeria’s Dangote Refinery Agrees to Export Polypropylene With Vinmar

Dangote Petroleum Refinery and Petrochemicals has entered a partnership with Vinmar Group, an international petrochemicals distribution company, to distribute D…

Crude Oil

US House Budget Bill Seeks More Than $1.5 Billion for Strategic Petroleum Reserve

A U.S. House committee unveiled a budget proposal on Sunday, allocating over $1.5 billion to restore and maintain the Strategic Petroleum Reserve (SPR), the wor…

Natural Gas

Occidental Reports Quarterly Profit Beat on Strong Output, Natural Gas Prices

Occidental Petroleum announced on Wednesday that its first-quarter profit for 2025 exceeded Wall Street expectations, driven by robust production and favorable …

Oil Price

Colombia’s Ecopetrol Plans Cost Cuts as Lower Oil Prices Bite

On Wednesday, Ecopetrol, Colombia’s state-owned oil company, announced plans to reduce costs and expenses by approximately 1 trillion pesos ($232 million)…

Renewable Diesel

Marathon Reports Improved Q1 Earnings for Renewable Diesel

Marathon Petroleum Corp. announced on May 6, 2025, that its renewable diesel segment achieved improved first-quarter EBITDA, driven by higher facility utilizati…

Crude Oil

Exxon Plans $1.5 Billion Investment in Nigerian Oilfield

ExxonMobil, a global energy company, plans to invest $1.5 billion in its deepwater operations in Nigeria, according to the Nigerian Upstream Petroleum Regulator…

Crude Oil

Sinopec’s Quarterly Net Income Falls 28% on Slower Fuel Sales

On Monday, China Petroleum & Chemical Corp, known as Sinopec, reported a 27.6% decline in first-quarter net income compared to the previous year. The company, l…