The American Petroleum Institute (API) estimated that crude oil inventories in the United States saw a draw of 1.9 million barrels in the week ending November 21. Crude oil inventories gained 4.4 million barrels in the week prior.
Oil prices recovered slightly in early Asian trading on Wednesday after falling to one-month lows in Tuesday’s session. Sentiment in markets remains bearish, with traders focused on a potential peace deal between Ukraine and Russia.
GAS Arabian Services has signed agreements worth USD 17.5 million to acquire stakes held by Afaq Al Mustaqbal in EagleBurgmann Saudi Arabia (EBKSA) and TCR Arabia (TCR), Gas Arabian Services said in a Saudi Exchange filing on Tuesday.
Iraq seeks a replacement for Lukoil at West Qurna 2 to protect exports and attract new foreign partners.
Nigeria’s Dangote has selected Honeywell UOP to provide technical services and support for a planned capacity expansion at the Dangote Refinery in the Lekki Free Zone in Nigeria, Reuters reported on Tuesday.
The country’s push to revive its dwindling oil fortunes is taking centre stage again as the state prepares to drill its first onshore exploration well in the Voltaian Basin during October 2026
Beacon Offshore Energy LLC, an oil explorer backed by Blackstone Inc., is betting on a drilling renaissance in the U.S. Gulf of America/Gulf of Mexico as it starts up some of the most productive wells in the US using new technology to pump once-impossible-to-reach crude.
The Africa Sustainable Energy Centre (ASEC) has warned that Ghana’s rapidly declining crude oil production poses an immediate fiscal and economic threat, calling for urgent and strategic interventions to safeguard the country’s petroleum revenues and national energy security.
As G20 leaders gather in Johannesburg, the African Energy Chamber (AEC) is urging global policymakers to place Africa’s oil and gas sector at the center of the continent’s economic strategy. With demand rising, energy poverty persisting, and industrial growth constrained by limited power access, African officials argue that hydrocarbons remain essential to unlocking long-term development.
Tullow Oil plc is working to recover more than $200 million in outstanding payments from the Government of Ghana, a situation placing significant pressure on the London-listed company’s cash flow as it races to refinance its debt structure ahead of a May 2026 bond maturity. The receivables, which include approximately $100 million in gas payments, TEN development debt, and overdue cash calls, stood at over $200 million net to Tullow as of the end of October, according to the company’s November trading update.