Saudi Arabia Awards Five Renewables Projects Worth $2.4 Billion
Tuesday, October 28,2025,16:30
Saudi Arabia has awarded one wind power and four solar power projects in the country worth a total estimated investment of $2.4 billion (9 billion Saudi riyals), the official Saudi Press Agency reports. Saudi Power Procurement Company, the principal buyer of the projects, awarded the five projects with a total capacity of 4.5 gigawatts (GW), as part of the sixth phase of the Kingdom’s National Renewable Energy Program. Saudi Arabia, the world’s biggest crude oil exporter, aims to hike the share of renewable electricity generation as… .. read more..
North Korea Deepens Military Ties With Russia Amid Fierce Fighting in Ukraine
Tuesday, October 28,2025,16:00
Russian President Vladimir Putin received North Korea's top diplomat at the Kremlin on October 27 as Russian forces continued their push in eastern Ukraine, penetrating a key city amid fierce fighting. North Korean media said Foreign Minister Choe Son Hui discussed "many future projects to constantly strengthen and develop" the bilateral relationship while also passing on leader Kim Jong Un's "brotherly regard" to Putin. No further details were given. North Korea has become a crucial backer of Russia’s nearly four-year invasion of Ukraine,… .. read more..
Oil India Unable to Draw Dividends from Russian Fields Due to U.S. Sanctions
Tuesday, October 28,2025,15:30
Oil India Limited (OIL), the state-owned oil and gas explorer, has $300 million in dividends from its stakes in Russian oilfields stuck at Russian banks and unable to withdraw, due to last week’s U.S. sanctions that hit the Rosneft-operated fields. The U.S. sanctions on JSC Vankorneft and Taas-Yuryakh Neftegazodobycha LLC (LLC TYNGD), in each of which Rosneft holds just over 50%, have complicated fund transfers, Oil India’s chairman Ranjit Rath told Reuters on Tuesday. OIL is seeking legal options to free up the dividends, Rath… .. read more..
Sanctions-hit Lukoil announces plans to sell foreign assets
Tuesday, October 28,2025,15:03
Russian oil producer releases brief statement to announce sale of assets after it was targeted by US sanctions on 22 October .. read more..
Enough crude oil available globally, says Union Minister Hardeep Singh Puri
Tuesday, October 28,2025,15:00
Union Minister Hardeep Singh Puri stated that India has adequate crude oil supply and alternative sources are available if one stream is disrupted. He highlighted India's growing refining capacity and its increasing role in global energy demand, projecting a rise in crude consumption to six million barrels per day. .. read more..
Trump–Xi Talks Loom Over Oil Markets
Tuesday, October 28,2025,15:00
Brent crude hovers near $65 as traders await the outcome of this week’s Trump–Xi meeting in South Korea. From Black Gold to Blue Flame – US Dealmakers Pivot to Gas - The US oil industry’s consolidation drive has run out of steam as low-60 crude prices made it much harder for private equity firms to sell their undeveloped assets; however, gas deals still have a lot of room left. - According to Enverus, US upstream dealmaking dipped by almost 30% in Q3 2025, totalling only $9.7 billion with Crescent Energy’s $3… .. read more..
Petrobras CEO: ‘Let’s not put the cart before the horse’ regarding Foz drilling
Tuesday, October 28,2025,14:46
Brazilian operator is presently drilling the Morpho widlcat in the Foz do Amazonas basin .. read more..
HPCL Faces Corrosion Issues, Imports Fuel for November
Tuesday, October 28,2025,14:30
India’s Hindustan Petroleum Corporation Limited (HPCL) is looking to import fuel in early November under a rare import tender, after the state-controlled refiner was forced to close a gasoline-producing unit at its Mumbai refinery due to a contamination issue, sources with knowledge of the tender told Reuters on Tuesday. HPCL on Monday said its Mumbai refinery, one of the two large refineries the company operates in India, faced “operational issues” after processing crude from Hindustan Oil Exploration Co.’s (HOECL)… .. read more..
North Sea Energy Firm Falls Into Administration Amid Mounting Crisis
Tuesday, October 28,2025,14:00
North Sea oil and energy services group Petrofac has appointed administrators, putting thousands of jobs at risk. The company said it took the decision after one of its customers, TenneT, terminated its relationship over a 2GW energy programme in the Netherlands. “Having carefully assessed its options, and the impact of TenneT’s decision… the directors of Petrofac Limited have applied to the High Court of England and Wales to appoint administrators,” the company said in a statement. “When appointed, administrators… .. read more..
Wave of new LNG supply will improve energy security and force prices down, sa...
Tuesday, October 28,2025,13:54
Agency expects ‘temporary surplus’ of 65 Bcm of gas by 2030 .. read more..
China and Singapore Partner on Massive Cross-Border Solar Project
Tuesday, October 28,2025,13:00
Singapore’s Equator Renewables Asia and the clean energy unit of China National Nuclear Corporation on Tuesday signed a joint venture agreement to develop a solar project in Indonesia, with part of the electricity generation set for exports to Singapore. CRE International (CREI), the renewables arm of the China National Nuclear Corporation (CNNC), and Equator Renewables Asia will work to develop a cross-border renewable energy project designed to export up to 400?MW?AC of clean, solar-generated electricity from Indonesia’s Riau… .. read more..
Indian refiners' September crude processing hits 19-month low
Tuesday, October 28,2025,12:35
Indian refiners processed less crude oil in September, reaching the lowest point since February. This decline follows a dip in fuel consumption. Despite global sanctions on Russian oil, some Indian refiners are pausing new orders. However, Indian Oil continues to buy Russian oil if compliant. Meanwhile, Bharat Petroleum is investing in a new refinery and petrochemical complex. .. read more..
$1.5 billion acquisition agreed in the Haynesville shale
Tuesday, October 28,2025,12:09
Japanese company Jera makes a major play .. read more..
Iraq Secures First Floating LNG Import Platform Deal with U.S. Firm
Tuesday, October 28,2025,12:00
Iraq signed on Tuesday a contract with U.S. company Excelerate Energy for the country’s first floating gas platform, the office of the Iraqi Prime Minister said, as OPEC’s second-largest oil producer aims to strengthen its gas supply and energy security. As part of the agreement, Excelerate Energy will provide a floating storage regasification unit (FSRU) that will be capable of receiving, storing, or regasifying LNG, two Iraqi energy officials with knowledge of the agreement told Reuters. Iraq, which looks to… .. read more..
Europe Set for Record Diesel Imports as Russia Sanctions Roil Markets
Tuesday, October 28,2025,11:00
Europe is set to import the highest monthly volumes of diesel and jet fuel in October as the EU moved to close a loophole in the sanctions against Russia and the U.S. sanctions on Russia’s top oil producers and refiners roiled the petroleum product markets. Between October 1 and 20, European Union ports welcomed cargoes carrying nearly 1.9 million barrels of diesel and jet fuel from India, Saudi Arabia, the United States, and other countries, according to Kpler data compiled by Bloomberg. If the import volumes hold… .. read more..
U.S. Signs Rare Earths Deal With Japan Ahead of China Trade Talks
Tuesday, October 28,2025,10:47
The United States and Japan signed on Tuesday a framework agreement to support the mining and processing of critical minerals and rare earths, as they seek to counter the dominant Chinese share of the market for minerals crucial for the defense, automotive, electronics, and energy industries. Visiting U.S. President Donald Trump signed the rare earths deal with the newly elected Prime Minister of Japan, Sanae Takaichi, praising the strong U.S.-Japanese alliance. The White House said that the deals, plus the trade deal from earlier… .. read more..
'Significant implications': Greater resource potential unveiled for Timor-Les...
Tuesday, October 28,2025,10:40
Operator Finder Energy reports higher hydrocarbon potential based on updated seismic mapping of its Krill and Squilla discoveries .. read more..
US contractor secures another big win for landmark FLNG project
Tuesday, October 28,2025,10:35
NOV is providing the crucial turret mooring systems for both Argentina FLNG vessels .. read more..
Indian Oil Corp will not completely avoid Russian crude purchases, exec says
Tuesday, October 28,2025,10:15
Indian Oil Corp will continue purchasing Russian crude oil as long as it complies with international sanctions, Director of Finance Anuj Jain said on Tuesday. “We are absolutely not going to discontinue buying Russian crude. It is the entities and shipping lines that are sanctioned, not the crude,” he said during a post-earnings analyst call, adding that the company would buy oil only from non-sanctioned entities within the price cap. .. read more..
Govt extends oil, gas block bid deadline to December 31
Tuesday, October 28,2025,10:15
The government has extended the bid submission deadline for the 10th round of the Open Acreage Licensing Policy (OALP-X) to December 31, 2025. This marks the second extension for the largest acreage offering so far, providing investors an additional two months to assess geological data and finalise investment decisions. .. read more..
BPCL, Oil India to build $11 billion refinery, plan other expansion
Tuesday, October 28,2025,10:12
Bharat Petroleum Corporation Limited has signed three significant MoUs. Collaborations with Oil India Limited and Numaligarh Refinery Limited will focus on a new refinery and a major product pipeline. Another agreement with Fertilisers and Chemicals Travancore Limited aims to advance green energy projects. These partnerships signal a forward-looking approach to India's energy sector development. .. read more..
Indian firms won't buy Rosneft or Lukoil crude via traders, government source...
Tuesday, October 28,2025,09:28
Indian companies have decided to stop purchasing crude oil from traders supplying Rosneft and Lukoil after the two major Russian producers were placed under U.S. sanctions, a government source said on Tuesday. The official added that it is uncertain when Indian firms will resume new orders for Russian oil. .. read more..
Indian Refiners Pause Russian Oil Orders as U.S. Sanctions Bite
Tuesday, October 28,2025,09:00
Indian refiners have suspended new orders for Russian crude, Reuters has reported, citing unnamed sources as saying the industry awaited clarity from the government about navigating the new U.S. sanction context. Reliance Industries, one of Rosneft’s biggest clients in India, has turned to the spot market for crude oil deliveries, while Indian Oil has launched a tender for oil cargos. “We have not placed orders yet for fresh cargoes and have cancelled some that were booked from traders with links to the sanctioned entities,” one… .. read more..
Oil India's $300 million dividend from Russian fields stuck in Russian banks,...
Tuesday, October 28,2025,08:44
Oil India faces a significant hurdle in accessing a $300 million dividend. Funds are currently held in Russian banks. This is due to recent United States sanctions on two Russian oil fields. Oil India, along with Indian Oil Corp and Bharat PetroResources, holds stakes in these entities. The company is seeking legal advice to navigate this complex situation. .. read more..
HPCL issues rare fuel import tenders at Mumbai refinery, sources say
Tuesday, October 28,2025,08:43
Hindustan Petroleum Corporation Ltd (HPCL) has issued two rare tenders to import transport fuels for early November delivery following operational problems at its Mumbai refinery, according to sources. .. read more..
HPCL issues rare fuel import tenders after issues at Mumbai refinery, sources...
Tuesday, October 28,2025,08:43
Hindustan Petroleum Corporation Ltd (HPCL) has issued two rare tenders to import transport fuels for early November delivery following operational problems at its Mumbai refinery, according to sources. .. read more..
Oslo-listed operator on track to triple oil and gas production
Tuesday, October 28,2025,08:08
BW Energy is executing two projects and drilling a big appraisal well in Namibia .. read more..
China’s Power Grid Ready for Winter With Ample Fuel Reserves
Tuesday, October 28,2025,08:00
China has stocked up enough gas and coal for peak electricity demand season this winter, the local power utility association has reported. An expected abundance in wind and solar generation should help secure electricity supply as well, Bloomberg noted in a report on the news. Winter electricity supply fell short of demand several years ago in parts of China, resulting in extended power and heating outages. The cause of the shortage was an insufficient stock of natural gas. Since then, Chinese power suppliers have learned their lesson and been… .. read more..
Greater resource potential unveiled for Timor-Leste development
Tuesday, October 28,2025,07:27
Operator Finder Energy reports higher hydrocarbon potential based on updated seismic mapping of its Krill and Squilla discoveries .. read more..
Mining execs embrace 'phenomenal' rare earths interest from the Middle East
Tuesday, October 28,2025,07:12
Mining executives have welcomed bumper investor interest in critical minerals from the Middle East. .. read more..
Google and NextEra to revive major Iowa nuclear facility as AI energy demand ...
Tuesday, October 28,2025,06:54
Google and NextEra Energy are partnering to revive a major nuclear energy facility in Iowa as part of efforts to meet growing energy demands from AI. .. read more..
Venezuela Cancels Energy Ties With Trinidad and Tobago After U.S. Warship Visit
Tuesday, October 28,2025,06:50
Venezuela has called for the cancellation of energy agreements with neighboring island nation Trinidad and Tobago after the latter agreed to host a U.S. warship for joint exercises. Per the AP, Venezuela’s vice president called Trinidad and Tobago’s actions “hostile”, in the context of the United States’ attacks on boats that Washington says are used to carry drugs into the U.S. “The prime minister of Trinidad has decided to join the war-mongering agenda of the United States,” Delcy Rodrigues, who is also… .. read more..
How Saudi Arabia is diversifying away from oil — and betting big on AI
Tuesday, October 28,2025,06:09
While oil is the primary driver of Saudi Arabia's economy, the kingdom is now diversifying into areas such as artificial intelligence, tourism and sports. .. read more..
Middle East contracting giant unveils $16.7 billion projects pipeline, revenu...
Tuesday, October 28,2025,05:38
NMDC Energy said that the company’s order backlog stood at 45.6 billion dirhams as of the end of September .. read more..
Chinese contractor wins $800 million offshore deal
Tuesday, October 28,2025,03:23
PTTEP awards COOEC engineering, procurement, construction, installation and commissioning contract for Gulf of Thailand project .. read more..
Indian refiners pause new Russian oil orders, await clarity, sources say
Tuesday, October 28,2025,03:23
Indian refiners have temporarily stopped purchasing Russian crude following the latest sanctions and are awaiting further clarity, according to people familiar with the matter. To offset the supply gap, refiners are sourcing crude from spot markets, the people said. .. read more..
Many Indian refiners pause new Russian oil orders, await clarity
Tuesday, October 28,2025,03:23
Indian refiners have temporarily stopped purchasing Russian crude following the latest sanctions and are awaiting further clarity, according to people familiar with the matter. To offset the supply gap, refiners are sourcing crude from spot markets, the people said. .. read more..
Russia's Lukoil says it intends to sell international assets due to Western s...
Tuesday, October 28,2025,00:55
Russia's second-largest oil producer, Lukoil, is selling its international assets. This move comes after restrictive measures were introduced by some states. The sale is being conducted under an OFAC wind down license. The company may seek an extension if needed. This follows sanctions imposed by the US and Britain on Russian oil companies. .. read more..
Seatrium wins plethora of work
Tuesday, October 28,2025,00:14
Repeat customers keep offshore and marine contractor's order book buoyant .. read more..
The Predictable Unpredictability of Trump's Oil Sanctions
Tuesday, October 28,2025,00:00
The oil market just had its knee-jerk moment. Prices roared higher after the U.S. blacklisted Rosneft and Lukoil—but traders are already questioning whether President Trump’s sanctions will ever really stick. Oil prices jumped 8% last week, with most of the gains coming on Thursday, the day following the U.S. Treasury Department’s announcement that Russia’s top two producers and refiners would be designated effective November 21. Market Focus Shifts from Glut Fears to Supply Squeeze Anxiety The U.S. sanctions… .. read more..
Milestone reached in ExxonMobil's $24 billion Rovuma LNG FEED phase
Monday, October 27,2025,23:42
A CPECC-Saipem-McDermott consortium is competing against Technip Energies and Japan's JGC Corporation to build Mozambique's Rovuma LNG plant .. read more..
Decision nears for $5 billion-plus megaproject at world's largest gas field
Monday, October 27,2025,23:29
Commercial bids for the most recent phase of NFPS project submitted by at least four contracting groups or companies .. read more..
Conrad seeks farm-in partner for gas-rich offshore assets
Monday, October 27,2025,23:25
Non-operated interest in two Indonesia blocks on offer to strategic equity co-venturer .. read more..
Prima tenders for central processing platform contract
Monday, October 27,2025,23:23
Platform will exploit Ande Ande Lumut heavy oil field offshore Indonesia .. read more..
New Study: Plug-In Hybrid EVs Nearly As Dirty As Gas Vehicles
Monday, October 27,2025,23:00
Electric vehicle skeptics often squawk that battery-electric vehicles like Teslas are nowhere nearly as friendly to the environment as their proponents claim. Well, the truth is a bit more nuanced. Whereas the initial manufacturing of EVs, particularly their batteries, does have a significantly higher carbon footprint than internal combustion engine (ICE) cars, many life cycle assessments consistently show that EVs have significantly lower total greenhouse gas emissions than gasoline or diesel vehicles once they are on the road. Unfortunately,… .. read more..
Oilfield giants pivot to booming AI infrastructure as drilling demand wanes
Monday, October 27,2025,22:00
Oilfield services giants SLB, Halliburton and Baker Hughes are turning to data centers and related artificial intelligence infrastructure work to drive their next phase of growth as they navigate slowing drilling demand and idle rigs across North America. U.S. oil producers have cut exploration budgets as prices hover in the low $60s per barrel, pressured ... .. read more..
Prices ease as milder weather curbs demand
Monday, October 27,2025,22:00
Dutch and British wholesale gas prices edged lower on Monday morning as weaker demand for heating and power weighed on the market amid stable supply. The benchmark Dutch front-month contract at the TTF hub (TRNLTTFMc1) was down 0.31 euro at 31.59 euros per megawatt hour (MWh) or $10.77/mmBtu, by 0912 GMT, LSEG data showed. The ... .. read more..
TotalEnergies and partners lift force majeure on $20 billion Mozambique LNG p...
Monday, October 27,2025,22:00
French oil major TotalEnergies TTE said it, along with its project partners, had lifted force majeure on their $20 billion Mozambique LNG project, four years after an Islamist militant attack brought construction to a halt. Notice was sent to the Mozambican government via letter on Friday, a TotalEnergies press officer said. The company said, however, ... .. read more..
As oil market surplus keeps rising, something’s got to give
Monday, October 27,2025,22:00
The global oil market may be at a tipping point as signs of a significant supply glut emerge. The overall oil surplus averaged 1.9 million barrels per day (mb/d) from January through September 2025. Crude oil prices remained largely resilient, as stock builds were concentrated in areas that have less direct influence on price formation, ... .. read more..
Diesel margin holds at over 1.5-year high
Monday, October 27,2025,22:00
Asia’s middle distillate markets strengthened on Monday, with diesel refining margin holding at its highest in over one-and-a-half years. The gasoil refining margin (GO10SGCKMc1) closed at a premium above $25 a barrel, highest since February 2024, data compiled by LSEG showed. Market sentiment has been supported by tighter supply fundamentals, further buoyed by recent sanctions ... .. read more..