Exxon Signs Oil Deal in Libya
Exxon has inked a preliminary deal for exploration at four offshore blocks in Libya after a decade of absence from the country. The news was reported by Libya’s National Oil…
Naphtha Cushions China’s Q2 Oil Demand Decline
China’s oil demand declined year-on-year in the second quarter of 2025, but strong naphtha consumption helped limit the drop, according to a new report by Energy Intelligence, which estimates that…
Oil Slips on Fresh OPEC+ Barrels
Oil prices fell in choppy trading as traders took stock of OPEC+’s latest bumper supply increase while US President Donald Trump vowed to penalize India for buying Russian crude, mitigating…
Venture Global receives approval to increase capacity at Calcasieu Pass LNG
US liquefied natural gas producer Venture Global has received approval from the US Department of Energy (DOE) to increase capacity at its Calcasieu Pass LNG project in Cameron Parish, Louisiana,…
U.S. Investors Target Strategic Bulgarian Gas Storage Site for Russian Supply
A group of U.S. investors is in talks with the Bulgarian government to acquire a minority stake in the Chiren underground gas storage facility, the country’s only such site and…
Trump Again Threatens Major Tariff Hike On India Over Russian Crude
U.S. President Donald Trump on Monday said he would “substantially raise tariffs” on Indian exports in response to the country’s continued import and resale of Russian crude oil. The remarks,…
Venezuela’s Oil Exports Fell 10% in July
Venezuela’s crude and fuel exports fell in July by some 10% from June to average 727,000 barrels per day (bpd), as Chevron and other partners of state oil firm PDVSA…
India Continues Russian Oil Imports Despite U.S. Sanctions
Tankers loaded with Russian crude that had stayed idle off India’s coast for days discharged their cargo at Indian oil import terminals over the weekend, in defiance of the U.S.…
BP’s Big Bet on Oil Pays Off in Brazil
BP announced on Monday a significant oil and gas discovery in Brazil’s prolific offshore Santos Basin, the supermajor’s biggest in 25 years. BP’s exploration well in the deepwater Bumerangue block…
Elliott Wants BP to Double Cost Cuts Target to $10 Billion
Elliott Management, the activist U.S. hedge fund with 5% in BP, is doubling down on its pressure on the UK supermajor to deliver massive cost reductions after the reset, seeking…
