Latest Stories
SOCAR strengthens hold of Azerbaijan's top oil asset with purchase of stake held by Japan's Itochu
The value of the transaction was not disclosed.
ExxonMobil, Chevron profits hit multi-year highs amid ongoing Middle East turmoil
Both ExxonMobil and Chevron have reported their highest profits in a few years for the second quarter.
Talos Energy secures 50% stake in Repsol-operated Block 29 offshore Mexico
US-based Talos Energy has agreed to farm into Block 29, a deepwater development offshore Mexico operated by Spanish oil major Repsol.
Mexico dismantles four illegal oil refineries as fuel theft costs Pemex $530mn
Mexican authorities dismantled four clandestine oil refineries and seized almost one million litres (6,300 barrels) of petroleum derivatives, federal prosecutors said on August 4.
Mexico's Sheinbaum weighs pilot fracking projects to cut US gas dependence
Mexican President Claudia Sheinbaum is considering pilot fracking projects in the northern states of Coahuila and Tamaulipas aimed at boosting domestic gas production, Reuters reported on August 5.
Construction of Kenya’s Lamu refinery could begin this year
Construction on a new $16.94bn 700,000 barrels per day (bpd) Kenyan refinery proposed by Nigerian billionaire Aliko Dangote could begin as soon as this year, with the project expected to be the country’s largest ever private-sector investment.
Iran, Oman close to reaching Hormuz deal
Iran has revealed that it is close to reaching a deal with Oman on a new route for shipping through the Strait of Hormuz, with the country’s foreign ministry spokesman Esmaeil Baqaei noting that talks are in the “final stages”.
Iraq tops regional oil deals in July following major US energy accords
Iraq secured the top position for the largest oil transactions signed in the Arab region in July 2026, leading a regional energy investment drive that included major deals in Oman and Qatar.
Oman's Asyad Shipping takes delivery of new MR tanker, names sister vessel in China
Marking the latest expansion of its product tanker fleet, Oman's Asyad Shipping has taken delivery of Manah, the first of two new-build medium-range (MR) IMO Type II chemical tankers ordered from China's Lianyungang Shipbuilding Yard.
Iran’s energy crisis rooted in governance failures, research chief says
Iran’s energy deficit stems from poor governance and planning and an ineffective management structure rather than a shortage of resources, the head of the state-run Niroo (energy) Research Institute (NRI) said.
Syria expands Homs oil terminal, lifting tanker handling capacity tenfold
Syria has completed the rehabilitation and expansion of the western oil tanker yard at its central oil transport facility in Homs, increasing unloading capacity to around 1,000 tankers per day.
Egypt’s Ganope to award 7 oil and gas concessions in Upper Egypt and Red Sea
Egypt's South Valley Egyptian Petroleum Holding Company (Ganope) is in the process of awarding seven new concession areas for oil and gas exploration across Upper Egypt and the Red Sea
Iraq's Nineveh tightens fuel distribution as petrol shortage persists
Petrol shortages continued across Iraq's Nineveh province, with long queues remaining at both government-run and private filling stations as motorists complained about fuel quality and authorities moved to tighten distribution controls.
Iraq directs BP to increase Kirkuk oil production and local recruitment
Iraq's Oil Minister Bassem Mohammed Khudhair Al-Abbadi has called for higher crude oil production and increased gas investment at the Kirkuk oilfields, while urging BP to prioritise local employment as development of the fields gathers pace.
Mali ratifies AfDB loans for $190mn Bamako power project
Mali’s National Transitional Council has unanimously approved legislation authorising the ratification of African Development Bank Group loans for a $190mn project to strengthen electricity supply in Bamako and surrounding areas.
South African farmers oppose KwaZulu-Natal lithium expansion
South Africa’s efforts to develop an emerging lithium-mining sector are facing resistance from farmers and rural communities concerned about the effects of open-pit operations on agricultural land, water supplies and livelihoods.
Tullow raises 2026 cash-flow forecast on stronger Ghana production
Tullow Oil (LSE:TLW; GSE:TLW) has raised its full-year free-cash-flow forecast to $170mn-$250mn from $70mn-$175mn after stronger production from its Ghanaian fields, higher realised oil prices and progress in recovering government receivables.
OPEC+ agrees final 188,000 b/d output increase for September
Seven OPEC+ countries -- Saudi Arabia, Russia, Iraq, Kuwait, Algeria, Kazakhstan and Oman -- agreed to raise oil output by 188,000 barrels a day in September, Russia's Pivot to Asia reported on August 5, completing the unwinding of 2023's...
Belarus fuel exports to Russia hit record high in July
Gasoline and diesel exports from Belarus to Russia hit a new monthly record in July, Reuters reported on August 5, citing two industry sources and its own calculations, amid fuel shortages driven by unplanned outages at Russian oil refineries...
Vietnam faces skilled labour shortage for nuclear power revival
Vietnam is ramping up efforts to train a new generation of nuclear specialists as it revives its nuclear power programme and broadens the peaceful use of atomic energy.
South Africa’s JSE eyes Dangote refinery listing after planned $5bn Nigeria IPO
The Johannesburg Stock Exchange is in talks over a secondary listing of Nigeria’s Dangote refinery following a planned $5bn IPO on the Nigerian Exchange.
Mixed picture as Asian refiners contend with Hormuz crisis
Some Asian refiners are earning exceptional fuel margins, but crude shortages, higher procurement costs and domestic pricing constraints are producing sharply uneven results.
Vaalco targets higher Gabon output after new Etame wells
Vaalco Energy (NYSE:EGY; LSE:EGY) is advancing a drilling campaign at its Etame Marin oilfield offshore Gabon after three new development wells delivered combined initial gross production of more than 14,850 bpd.
Turkey’s imports from Russia sink to lowest since May 2021 as energy trade reroutes
Turkey’s imports from Russia dropped 40.5% y/y to $2.1bn in July, falling to their lowest monthly level since May 2021, as energy trade appeared to shift toward other suppliers amid heightened security risks in the Black Sea.
Follow us online