Latest Stories
Middle East war rocks Latin America
The Middle East war is the largest disruption to global oil output ever, and the jitters are rumbling through Latin America.
Frontera proposes selling upstream Colombian assets to Parex, not GeoPark
Frontera Energy’s proposed sale of its Colombian upstream oil and gas assets has shifted course after the company determined that a competing offer from Parex Resources represents a “superior proposal” to the transaction with GeoPark.
Bolivia weighs gas expansion as reserves decline and prepares fuel price review
Bolivia’s government is facing mounting pressure to revive hydrocarbon production as output falls to its lowest level in two decades, prompting authorities to consider new exploration projects.
Trump announces first US refinery to be built in 50 years
US President Donald Trump announced this week that America First Refining would build the US’ first new oil refinery in 50 years, with India’s Reliance Industries Ltd (RIL) providing financial backing.
Nigeria's NNPCL posts 47% drop in revenue, but growth prospects remain strong
The Nigerian National Petroleum Co. Ltd. (NNPCL) has recorded a significant decrease in revenue for the start of 2026, dropping to $1.8bn in January from $3.4bn the previous month.
Nigeria cancels petrol import licences
Petrol import licences have now been suspended for a second month in Nigeria as regulators begin to enforce elements of the Petroleum Industry Act (PIA) that ensure imports are allowed only when domestic supplies are lacking.
Libya records historic oil and gas production in February 2026
Libya achieved a record high in oil and gas production in February 2026, according to a March 11 statement from the National Oil Corporation (NOC).
CNRL defers early spending on Jackpine oil sands mine expansion
Canadian Natural Resources Ltd has said that it will defer plans for CAD150mn ($110mn) worth of spending related to front-end engineering and design work on its Jackpine oil sands mine expansion project
Russia pockets €6bn in fossil fuel revenues in first two weeks of war
Russia has pocketed over $6bn of excess revenues in just the first two weeks of war in Iran, the Centre for Research on Energy and Clean Air said.
Slovak oil refiner Slovnaft to self-regulate fuel prices this week
The Slovak key refinery, the Hungarian MOL-owned Slovnaft, is to self-regulate fuel prices for the next five days in response to the Hormuz Strait crisis, the country’s Prime Minister Robert Fico announced following the cabinet session on March 11.
Peak Energy acquires nearly 10MW solar portfolio in Singapore
Peak Energy has acquired a solar portfolio with close to 10 megawatts of capacity in Singapore from Maiora Renewable Energy Pte Ltd, a move expected to strengthen the city-state’s domestic renewable power supply and corporate decarbonisation
Medco Energi secures $100mn loan facility from HSBC Singapore
PT Medco Energi Internasional Tbk has obtained a $100mn loan facility following the signing of a financing agreement with HSBC’s Singapore branch on March 10
Oil price tops $100 a barrel - again
Brent crude rose almost 9% in early Asian trading, surpassing $100 a barrel, despite the International Energy Agency (IEA) announcing late on March 11 that all 32 member countries would release up to 400mn barrels of oil.
Pertamina Hulu Rokan begins tender collusion case hearing
Indonesia’s Business Competition Supervisory Commission (KPPU) has begun hearings into the alleged tender collusion case linked to the procurement of geomembrane materials by PT Pertamina Hulu Rokan (PHR)
China largely insulated from global energy price shocks
Although China is the world’s largest net oil importer and a major purchaser of Iranian crude, several factors mitigate the impact on its economy.
Taiwan pondering restart of nuclear plant by 2028
Taiwan’s stance on nuclear power shifted significantly after Japan’s 2011 Fukushima disaster, which bolstered opposition to nuclear energy.
Washington to open strategic oil reserves, release 172mn barrels
The United States will release 172mn barrels of oil from its emergency stockpiles starting in the week as part of an effort to curb rising energy prices following the outbreak of war.
Illegal fuel refining cost Colombia's Ecopetrol $63mn in 2025 as theft surges
Illegal fuel refining and hydrocarbon theft cost the Ecopetrol group about $63mn in 2025, with more than 730,000 barrels of fuel diverted from official supply chains, according to company statements
Renewable energy expansion boosting rural incomes in India
India’s renewable energy expansion is increasingly strengthening the rural economy and helping farmers raise their incomes, Union minister for new and renewable energy Pralhad Joshi said.
India prioritises domestic gas supply for city gas network
The Indian government has instructed gas distributors to prioritise domestic natural gas and regasified LNG supplies for the city gas distribution (CGD) network.
Croatia ordered to pay $236mn in compensation after losing case arbitration case against MOL
A US federal court ruling enforces a 2022 ICSID decision ordering Zagreb to pay $236mn to MOL, connected to the privatisation of the Croatian state-owned INA.
Follow us online