The American Petroleum Institute (API) estimated that crude oil inventories in the United States increased by a whopping 13.4 million barrels in the week ending February 6, and more than offsetting the prior week’s draw of 11.1 million barrels.
US forces boarded an oil tanker after a cat-and-mouse chase from the Caribbean to the Indian Ocean, the Pentagon said, as Washington expands its geographic scope in an ongoing crackdown on a global shadow fleet used to export sanctioned crude
Expand Energy Corp. will relocate its corporate headquarters from Oklahoma City to Houston in mid-2026 and has appointed Chairman Michael Wichterich as interim president and chief executive officer, the company announced.
Australia’s Queensland state has expanded oil and natural gas exploration in a major basin, as the fossil fuel exporter seeks to address local shortfalls.
bp has suspended its share buyback program and is prioritizing balance-sheet repair as the company works through a broader strategic reset and leadership transition.
Petronas has launched, through Malaysia Petroleum Management (MPM), the Malaysia Bid Round 2026, comprising nine exploration blocks and six Discovered Resource Opportunities (DROs), Petronas announced on Wednesday.
Petrosen, Senegal’s state-owned oil company, plans to conduct its own $100-million exploration campaign this year to discover crude in onshore fields.
Ghana’s Minister for Energy and Green Transition, Dr. John Abdulai Jinapor, says the government will not proceed with the proposed merger of the Energy Commission and the Public Utilities Regulatory Commission (PURC) without broad consensus and proper engagement with all stakeholders.
Subsea7 has been awarded a substantial contract by Chevron for subsea installation work in the Eastern Mediterranean, reinforcing the contractor’s presence in the region and its long-standing relationship with the operator.
Vitol expects global oil demand to peak around the middle of the 2030s, due to forecasts of slower uptake of electric vehicles, the world’s biggest independent oil trader said in an updated oil outlook on Monday.