Last week, eight OPEC+ countries unveiled plans to advance their planned phase-out of voluntary oil output cuts by ramping up output by 411,000 barrels per day in May–equivalent to three monthly increments. The announcement of the accelerated unwinding clip comes at a time when U.S. President Donald Trump announced tariffs …

Iran’s Oil Minister Mohsen Paknejad arrived in Iraq on Monday at the invitation of his Iraqi counterpart. Upon arrival, Paknejad paid tribute to the memorial site of the martyrs General Qassem Soleimani and Abu Mahdi al-Muhandis. The Oil Minister’s visit to Baghdad will last two days, and he is scheduled …

Italy’s Eni will invest around € 8 billion in Libya over the next four years to boost energy production, Reuters‎ reported Eni CEO Claudio Descalzi saying last Tuesday. The amount will be part of a € 24 billion euros ($26.24 billion) to be invested in Algeria, Libya and Egypt over …

Last year, oil overtook soy as Brazil’s main export for the first time since 2012. According to trade data published by the government, foreign oil sales totalled almost USD 45 billion in 2024, passing soy’s USD 43 billion. The value of Brazil’s crude oil exports has more than doubled in …

The United States utility-scale battery storage sector has been projected to grow dramatically in 2025, as renewable energy companies look for ways to make their clean energy operations more stable and reliable. However, the recent introduction of tariffs on countries worldwide by the Trump administration, with particularly high tariffs on …

European Union member states on Friday agreed to give more flexibility to the natural gas storage goals by expanding the period in which countries should have 90% full storage ahead of the winter and could deviate by up to 10% from the filling target. The EU supported the European Commission’s …

Shell Offshore, a subsidiary of Shell, has commenced production at Dover, a subsea tieback project linked to the Appomattox production hub in the Gulf of Mexico. The Dover development is expected to reach peak production of 20,000 barrels of oil equivalent per day (boepd), strengthening Shell’s leadership in deep-water operations. …

No Russian oil has been delivered via the Druzhba pipeline to the PCK refinery in Germany in more than two years because of sanctions levied against Moscow following its full-scale invasion of Ukraine. But with the plant in the town of Schwedt on the border with Poland struggling to adapt …

Oil prices retreated on Thursday as U.S. President Donald Trump ramped up a trade war with China, even as he announced a 90-day pause on tariffs aimed at other countries. Brent futures fell 77 cents, or 1.18%, to $64.71 a barrel by 0320 GMT, while U.S. West Texas Intermediate crude …

BP expects to post a weak natural gas trading result for the first quarter, as well as lower gas output, as the UK-based supermajor is resetting its strategy back to core oil and gas operations. Reported upstream production in the first quarter is expected to be lower compared to the …