Crude oil prices rose for the third consecutive session on Wednesday, driven by China’s plans to boost its economy, potential new U.S. sanctions on Russian oil, and a consistent decline in U.S. crude supplies. These factors, combined with mixed projections from OPEC, are shaping a dynamic and complex energy market. Key Drivers Behind the Price […]

SLB’s OneSubsea™ joint venture has secured a groundbreaking contract with Petrobras to deliver two cutting-edge subsea raw seawater injection (RWI) systems. These systems will enhance production efficiency at the prolific Búzios field, reducing greenhouse gas (GHG) emissions per barrel of oil while increasing recovery rates for Petrobras’ FPSOs P-74 and P-75. A Smarter Approach to […]

Shell Offshore Inc., a subsidiary of Shell plc, has made an exciting announcement about its continued commitment to energy production in the U.S. Gulf of Mexico (GoM). The company has reached a Final Investment Decision (FID) for the Phase 3 Silvertip project. This new venture aims to deliver two high-performing wells at the Shell-operated Perdido […]

Global oil supply has seen a notable increase, climbing by 290,000 barrels per day in October, reaching approximately 102.9 million barrels daily. This rise is largely attributed to Libya resuming crude production, offsetting declines from other producers like Kazakhstan and Iran. Despite these gains, OPEC+ has delayed lifting voluntary production cuts until January 2025, aiming […]

The African Energy Chamber (AEC) has officially endorsed the Congo Energy & Investment Forum (CEIF), a groundbreaking event set to take place in March 2025. Announced during African Energy Week: Invest in African Energies in Cape Town by the Republic of Congo’s Ministry of Hydrocarbons, this forum represents a monumental step for the nation as […]

India is making transformative strides in the energy sector to meet increasing demand and strengthen its global position. With ambitious plans to enhance refinery capacity and embrace sustainable energy solutions, the country is setting new benchmarks in innovation and leadership. Boosting Refinery Capacity for a Brighter Future India plans to increase its refinery capacity from […]

India’s Oil and Natural Gas Corporation (ONGC) is making headlines with its strategic plan to build two advanced offshore jack-up drilling rigs domestically, valued at approximately $500-$550 million. This move aims to replace older rigs, some of which have been operational for over four decades, while also fostering growth and innovation in India’s shipbuilding industry. […]

Africa’s largest refinery, the Dangote Refinery in Nigeria, is making headlines as major global oil traders, including Vitol, Trafigura, and BP, emerge as dominant buyers of its refined fuels. With the refinery finally operational, it holds the promise of transforming Nigeria’s oil sector, slashing imports, and boosting exports. Let’s dive into how this monumental facility […]

Angola’s LNG project is gearing up for a major expansion, with new supplies of natural gas expected in the coming year. This project, which has been running below its full capacity, is now poised for growth, driven by rising global demand for liquefied natural gas (LNG), especially in Asia and Europe. A Landmark Investment in […]

October marks the sixth consecutive month of lower imports compared to 2023. China’s crude oil imports continued to decline in October, marking the sixth consecutive month of slower arrivals than in the same period last year. According to data from China’s General Administration of Customs, cited by Reuters, last month saw crude imports drop to […]