Russia Faces Sharp Drop in Oil Tax Revenue at Start of 2026
Russia is heading into 2026 with a familiar problem wearing a sharper edge: the oil revenues that bankroll its budget — and its war — are shrinking fast. According to…
Uganda National Oil Gets $2B Vitol Bahrain Loan
Uganda National Oil Co. said it secured a $2 billion loan from Vitol Bahrain E.C. to fund its strategic national infrastructure and investments over a seven-year period. The loan will…
Interview: How Honeywell is delivering on LNG
Ken West, President and CEO of what is poised to become Honeywell Process Technology, explains how it is meeting soaring LNG demand and the benefits it is reaping from the…
Ukraine Hits Russian Shadow Tanker in Mediterranean for First Time
Ukraine has hit an empty oil tanker of Russia’s shadow fleet in the Mediterranean in the first such drone attack in this sea in another escalation of the Ukrainian strikes…
CNOOC starts production at Xijiang 24 oil project in South China Sea
Offshore Production China December 22, 2025 (WO) — CNOOC Limited has brought the Xijiang Oilfields 24 Block Development Project into production, marking a new offshore startup in the Pearl…
Iraqi Crude Can’t Replace Venezuelan Oil in the U.S. Market
The economics of shipping additional volumes of heavy crude from Iraq to compensate for a potential loss of Venezuela’s supply are just not there at present, Shafaq News reported on…
Texas regulators levy $1.1 million in oil and gas enforcement penalties
(WO) — The Railroad Commission of Texas assessed more than $1.1 million in enforcement penalties against operators and businesses at its open meeting this week, according to agency filings. …
Putin Lashes Out as EU Agrees to Loan $105 Billion to Ukraine
The international gold and foreign exchange reserves held by the world’s biggest oil-producing nations in the EU could be at risk, Russian President Vladimir Putin said on Friday, after EU…
Adani Explores Nuclear Power Foray With 1.6 GW Small Reactor Project
Adani Group, the conglomerate of Indian billionaire Gautam Adani, is in talks with the state government of India’s northern Uttar Pradesh state on a public-private partnership to build small modular…
Shipping Giant Maersk Completes First Red Sea Transit in Two Years
Shipping giant A.P. Moller-Maersk completed on Friday the first transit of a container ship via the Red Sea and Bab el-Mandeb Strait in almost two years, after having stopped voyages…
