Crude oil prices, which had been falling since last week, today reversed course and made gains ahead of a UN General Assembly session that many hope will yield some progress on peace talks between the U.S. and Iran.
Gabon has signed an agreement protocol with Nigerian energy infrastructure company Oilserv, to develop and commercialise hydrocarbon reserves in Gabon’s DEF-3 and D4-5 blocks. The agreement also covers gas transportation, compression, and treatment infrastructure, intended to support thermal power generation and industrial activity in the country.
China’s Sinopec, the world’s top refiner by capacity, expects Chinese oil demand to drop by 8.9% in 2026 from a year earlier amid demand destruction from higher oil prices and the acceleration of electric vehicle adoption.
Ukraine hit with drones overnight on Wednesday infrastructure in Novorossiysk, which is Russia’s key oil terminal in the Black Sea, in attacks that killed four people and reportedly sparked a fire at a fuel oil terminal at the port.
Sapphire Gas Solutions said Tuesday it had acquired a small-scale liquefied natural gas (LNG) production facility in Ehrenberg, Arizona, part of its efforts to establish a leading vertically integrated merchant LNG platform in the United States.
Argent LNG and the government of Albania have signed a non-binding memorandum of understanding (MoU) to evaluate development of an onshore LNG storage and regasification terminal on the Albanian coast with capacity of up to approximately 5 MMtpa.
Saipem has secured a contract from GOE Petrol Sanayi to provide commissioning services for the Osman Gazi floating production unit (FPU), which will support development of the Sakarya gas field offshore Türkiye in the Black Sea.
Angola’s National Oil, Gas and Biofuels Agency, ExxonMobil and its Block 15 partners confirmed a new oil discovery at the Vicango Este-01 well on Wednesday, the deepwater block’s 20th find since production began. Some 370 kilometers (230 miles) northwest of Luanda, the well was drilled to 940 meters, encountering 25 meters of high-quality, hydrocarbon-bearing sandstone, according to a joint company statement
Jude Atebe, managing director of Derotech Offshore Services, talks to The Energy Year about the investment momentum behind Nigeria’s offshore revival and the company’s strategy to expand into deepwater intervention and regional markets.
Ghana’s Energy and Green Transition Minister John Abdulai Jinapor has urged global oil and gas investors to support greater African ownership, local capacity and stable policy frameworks, saying the continent needs to capture more value from its hydrocarbon resources as the energy transition gathers pace.