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OPEC+ confirmed its plans to extend the pause on crude oil production hikes to March this year, citing “healthy oil market fundamentals as reflected in low inventories.” In a press release late Sunday, OPEC+ said that “the 1.65 million barrels per day may be returned in part or in full …

The European Union’s plan to ban LNG imports from Russia will prompt a surge in demand for LNG carriers to the tune of 30 new vessels, a senior Vortexa analyst said ahead of the LNG Qatar gathering that starts today. According to Ashley Sherman, senior LNG analyst at the company, …

The OPEC+ group is expected to maintain its oil production policy unchanged this weekend and affirm a pause in output hikes in March even as Brent Crude prices hit $70 per barrel this week for the first time in five months, delegates from the alliance told Reuters on Friday. The …

This week, the World Bank and the Rockefeller Foundation announced that they will funnel tens of millions of dollars into the budding African solar power sector. The two major global funding bodies are investing in non-profit organizations across the African continent to expand solar power projects with the tandem goal …

The European Union is quietly preparing to take a much bigger swing at Russia’s oil trade. And this time, Brussels is aiming less at price optics and more at enforcement reality. The EU is reportedly weighing whether to scrap its Russian oil price cap altogether and replace it with a …

Despite lower oil prices, ExxonMobil booked higher-than-expected earnings for the fourth quarter as quarterly production in the Permian basin and offshore Guyana set new records. Exxon reported on Friday earnings excluding identified items of $7.3 billion for the fourth quarter, or $1.71 per share. This beat the analyst consensus estimate …

The recovery in China’s imports of liquefied natural gas is expected to extend for another month in January, Kpler has reported, for a total of three consecutive months of higher LNG imports year-on-year. The analytics provider estimates that China will import 6.94 million tons of LNG this month, as quoted …

Venezuelan legislators have voted for an updated oil industry law that the country’s leadership hopes will bring in much-needed foreign investment to reverse a decline resulting from mismanagement and U.S. sanctions. Acting President Delcy Rodriguez signed the new law late on Thursday, the AP reported, hours after the parliament voted …

Europe’s benchmark natural gas prices were headed on Friday for their largest monthly gain since 2023 as cold snaps in January boosted heating and power demand and fast-draining storage sites fueled a market rally. The front-month Dutch TTF Natural Gas Futures, the benchmark for Europe’s gas trading, were on track …

The upstream sector is set to carry strong momentum into 2026, with high-impact wildcat drilling activity expected to remain elevated following a solid 2025. Last year, the success rate for high-impact wildcat wells rose to 38% from 23% in 2024, while total discovered volumes increased by 53% year on year …