The world’s oil demand growth is set to rise by 930,000 barrels per day (bpd) in 2026, thanks to lower oil prices and a normalization of economies after the 2025 tariff chaos, the International Energy Agency (IEA) said on Wednesday, raising its demand growth estimate by 70,000 bpd from last month
The American Petroleum Institute (API) estimated that crude oil inventories in the United States saw a build of 3.04 million barrels in the week ending January 16. Crude oil inventories increased by 5.27 million barrels in the week prior.
Turkey’s state energy company is in talks with Chevron Corp to jointly explore for oil and gas, according to a Turkish official familiar with the discussions.
Western Midstream Partners LP (WES) announced Tuesday it has amended its natural gas gathering and processing contracts in the Delaware Basin with Occidental Petroleum Corp and expanded its partnership with ConocoPhillips in the same basin.
GNPC Explorco, the upstream exploration and production subsidiary of the Ghana National Petroleum Corporation (GNPC), is set to begin crude oil exploration in the Northern Region this year as part of efforts to expand Ghana’s energy sector and drive economic transformation.
Blackstone Inc. is in the early stages of weighing a sale of Beacon Offshore Energy, a Gulf of Mexico driller it’s owned for about a decade that could fetch more than $5 billion, according to people familiar with the matter.
Equatorial Guinea, OPEC’s smallest member, has turned to commodity trading companies for prepayment deals on oil and liquefied natural gas to help finance a revival of domestic hydrocarbon production.
Pakistan’s state-owned Oil and Gas Development Company Limited (OGDCL) on Tuesday said it had made an oil and gas discovery at its exploratory well Baragzai X-01 in the Khyber Pakhtunkhwa Province, which would boost domestic supply and Pakistan’s energy security.
Libya and Russia have held talks aimed at strengthening cooperation in the oil and gas sector. Khalifa Rajab Abdul Sadiq, Libya’s Minister of Oil and Gas, met with the Russian Ambassador to Libya, Aidar Aganin, in Tripoli on Monday.
Turkey’s state energy company is in talks with Chevron to jointly explore for oil and gas, according to a Turkish official familiar with the discussions.