In the News

About half of Venezuela’s oil output now goes to the United States, with refineries taking more than 500,000 barrels a day, a US official says.

Oil prices hit a three-week high on Wednesday as uncertainty over shipping through the Strait of Hormuz and continuing supply disruptions supported the market.

KEY POINTS Italian energy company Eni and Algeria’s state-owned oil and gas giant Sonatrach have expanded their cooperation on reducing greenhouse gas emissions from Algeria’s oil and gas industry. The …

KEY POINTS The Dangote Petroleum Refinery and Petrochemicals has secured a $1 billion underwriting programme as it prepares for its planned Initial Public Offering (IPO), strengthening the financial foundation for …

KEY POINTS Libya’s state-owned National Oil Corporation, NOC, says the country needs between $30 billion and $40 billion in new investment to develop its largely untapped oil and gas resources, …

KEY POINTS The Nigerian Midstream and Downstream Petroleum Regulatory Authority, NMDPRA, has called for the development of a fully integrated West African petroleum market as growing refining capacity begins to …

China’s refined fuel exports rose from June toward pre-Iran war levels in July, after Beijing eased the export curbs it imposed during the war.

Union Pacific collected $91.1 million more in fuel surcharges than it paid for fuel in the second quarter, far outpacing rivals and lifting its profit.

KEY POINTS Chevron has announced a significant oil and gas condensate discovery at an exploration well in Block 0, offshore Angola, strengthening the energy giant’s efforts to expand production in …

KEY POINTS Oil prices climbed for a third consecutive session on Tuesday as hopes for a lasting peace agreement between the United States and Iran weakened, raising concerns that disruptions …