Russian Urals Discounts in India Triple Since August as US Sanctions Hit
Discounts for Russian flagship Urals crude in Indian ports have tripled since August against dated Brent as U.S. sanctions drive key buyers away from Moscow-supplied oil, three sources involved…
Lukoil Trading Arm Falls Apart Under US Sanctions
U.S. sanctions are dismantling what remains of Lukoil's Litasco, once Russia's biggest oil trader and a rival to top Swiss houses and oil majors, five sources told Reuters.The measures, which also target state-owned Rosneft…
Sources say that Total and Chevron are leading the race to purchase Galp's Namibian oil discovery.
LISBON/PARIS/CAPE TOWN - Four sources have confirmed that TotalEnergies, Chevron and other oil majors are the frontrunners for a 40% stake in Galp Mopane's Namibian discovery. After a series of high-profile oil discoveries…
Sources say that TotalEnergies and Chevron are leading the race to purchase stakes in Mopane, owned by Galp, in Namibia.
LISBON/PARIS - Four sources have confirmed that TotalEnergies, Chevron and other oil majors are the frontrunners for a 40% stake in Galp Mopane in Namibia. Galp said that it would announce…
Lukoil Declares Force Majeure in Iraq as Operations Strain Under US Sanctions
Lukoil declared force majeure at its Iraqi oil field, sources told Reuters on Monday, and Bulgaria was poised to seize its Burgas refinery, as the Russian company's international operations buckled under the strain of U.S.
Sources say that Russia's Orenburg plant has increased its gas imports from Kazakhstan
Two industry sources reported on Thursday that the Russian Orenburg gas plant had increased its gas intake from the Karachaganak gas field in Kazakhstan at the beginning of November, in an…
Analysts are looking at 2026 as a timeframe for predicting the growth of oil earnings.
Big Oil's third-quarter results may be boosted by marginally higher oil and refining prices, as well as stronger results in the refinery sector. However, some analysts are more concerned with…
Analysts are looking at 2026 as a timeframe for a rise in Big Oil earnings
Big Oil's third-quarter results may be boosted by marginally higher oil and refining prices, as well as stronger results in the refinery sector. However, some analysts are more concerned with…
China Suspends Russian Oil Purchases Due to Sanctions
Chinese state oil majors have suspended purchases of seaborne Russian oil after the United States imposed sanctions on Rosneft and Lukoil, Moscow's two biggest oil companies, multiple trade…
Petrobras and Equinor have acquired the majority of blocks at Brazil's presalt auction
The oil regulator ANP announced on Wednesday that Brazil's Petrobras, the state-run oil company, and Norway's Equinor had won a block in Brazil's Pre-salt Area. They each acquired one and partnered up to acquire a third…
Energy Minister: Orenburg plant in Russia restarts gas imports from Kazakhstan field
Kazakhstan's Energy Minister said that the Russian Orenburg gas plant was damaged by a drone strike on Sunday. It has since resumed receiving natural gases from Kazakhstan's Karachaganak gas field.
US Natural Gas Hits High Amidst Cooler Outlook
U.S. natural gas futures hit a two-week high on Tuesday, underpinned by sharply colder 1–2 week forecasts that are lifting heating demand expectations, a month-to-date dip in output and strong…
Oil Prices Settle 1.5% Lower as US-China Trade Tensions Persist
Oil prices fell on Tuesday, settling 1.5% lower as the International Energy Agency warned of a huge supply glut in 2026, and as trade tensions persisted between the U.S. and China, the world's…
Oil bosses are expecting the market surplus to diminish over time
Executives from oil majors, trading houses and oil companies said that the global oil market will tighten up in the medium-to-long term after recovering from its short-term weakness. Oil prices…
Petrobras Simulation for Foz do Amazonas Drilling License scheduled for late August
Ibama, the Brazilian environmental agency and Petrobras, the state-run oil firm in Brazil's Foz do Amazonas Region have planned a disaster simulation for the week beginning August 24. Pre-operational…
Shell receives permission to drill on the west coast of South Africa
Shell announced on Friday that it has received environmental approval to drill five deepwater wells near the west coast of South Africa. Oil majors applied for authorization last year, and…
Nigerian oil sector enters new phase of growth thanks to local firms
Nigeria's oil and gas industry is undergoing a major shift as local companies take on a greater role, resulting in a new phase for innovation and growth. The companies that are leading the…
Sources say that former Shell oil traders have set up a trading house focusing on Africa.
Two sources familiar with this development say that several former Shell traders have established the trading house Atmin, which is backed by Afreximbank and focuses on African oil trade. This…
Sources say that commodity traders are expected to bid for Italy's IP in May.
Two sources confirmed on Thursday that global commodity traders Glencore and Gunvor were considering the possibility of buying oil refiner Italiana Petroli API group. State Oil Company of Azerbaijan is also interested in the asset…
Sources say that commodity traders will submit bids by May for Italy's IP.
Two sources confirmed on Thursday that global commodity traders Glencore and Gunvor were considering the possibility of buying oil refiner Italiana Petroli API group. State Oil Company of Azerbaijan is also interested in the asset…