Oil prices pushed higher on Tuesday afternoon, with traders weighing a familiar but combustible mix of Middle East risk and Washington-driven policy uncertainty.
Crude oil imports into China last year hit the highest ever, reaching 11.55 million barrels daily, or a total of 557.73 million tons, up 4.4% on 2024, Reuters reported today, citing official statistics. The December total was also a record high, the data showed, at an average daily of 13.18 million barrels for a total of 55.97 […]
Arabian Drilling has secured three land rig contract extensions in Saudi Arabia worth USD 373 million, extending its backlog by 25 rig years, the company announced on Tuesday. Of the rigs subject to extensions, one is currently operational, and another is projected to begin operations by the end of January 2026. A third is currently under […]
An oil tanker seized by Iran two years ago was released, with satellite images showing the vessel off the coast of Oman, against a backdrop of mounting US pressure on the Persian Gulf state. The St Nikolas — seized in January 2024 in retaliation for what Iran called at the time the US “theft” of Iranian oil […]
Vitol and Trafigura are offering Venezuelan crude to refiners in China and India for March delivery, trade sources told Reuters on Monday, days after two of the world’s biggest independent oil traders obtained special U.S. licenses to help market Venezuela’s oil.
NMDC Group subsidiary NMDC Infra and Consolidated Contractors Company (CCC) have established NMDCCC to provide oil and gas EPC services in the UAE, NMDC announced on Tuesday.
TotalEnergies and partners Eni and QatarEnergy have signed an agreement with the Lebanese government to explore a new block offshore Lebanon, the French company said on Friday.
Indonesia has inaugurated the upgraded Balikpapan refinery, expanding capacity from 260,000 bpd to 360,000 bpd and marking the country’s largest refining facility, international media reported on Monday.
Shell has awarded Vallourec a major contract to supply OCTG products and services for Brazil’s Orca offshore development, Vallourec said on Monday.
Navitas Petroleum has signed a non-binding memorandum of agreement to farm in to the PL001 licence in the North Falklands basin, a block located adjacent to the Sea Lion development.
The proposed transaction was signed with JHI Associates, which holds the licence and in which Eco Atlantic Oil & Gas has a 6.6% interest. Under the terms of the agreement, Navitas would acquire a 65% working interest in PL001, expanding its footprint in the South Atlantic basin.