Feb 25, 2026 OPEC+ is likely to consider increasing oil output by 137,000 barrels per day (bpd) for April 2026, ending a three-month pause in hikes as they prepare for peak summer demand and navigate market share strategies, Bloomberg reported on Wednesday ahead of a scheduled cartel meeting on March 1.  The group had previously […]Read More
Nigeria begins shipping a fresh crude grade next month. As Africa’s top OPEC oil maker, it seeks higher production, exports, and a bigger OPEC+ quota. The state oil firm NNPC launches Cawthorne, a sweet crude much like its main Bonny Light. A source close to the plan says the first shipment hits in March’s third […]Read More
February 24, 2026 India is growing more dependent on imports of crude oil, with the total share of imports in its oil consumption reaching 88.6% over the first ten months of its current fiscal year, which ends on March 31. The data, from the country’s Petroleum Planning & Analysis Cell, a division of the oil […]Read More
February 23, 2026 Indian refiners’ crude processing (throughput) fell by 0.2% month-on-month in January 2026, reaching 5.63 million barrels per day (bpd) or 23.81 million metric tons, marking a slight decrease after December throughput clocked in at 5.64 million bpd. India’s fuel consumption in January came in at 21.05 million metric tons, down from 21.71 […]Read More
February 23, 2026 Chevron has signed a preliminary deal with Iraq’s Basra Oil Company to discuss the potential sale of the giant Iraqi oilfield West Qurna 2, formerly operated by Russia’s Lukoil, to the U.S. supermajor. The preliminary agreement, signed on Monday, allows exchange of confidential data and could lead to exclusive talks for Chevron […]Read More
February 23, 2026 Ukrainian forces launched targeted attacks on critical nodes of Russia’s Druzhba oil pipeline network on Sunday night, sparking a major fire at a key Transneft oil hub. The strikes hit a major oil pumping and dispatch hub in Tatarstan, a central region of Russia, triggering widespread fires at the facility. This attack […]Read More
February 20, 2026 Saudi oil exports to India are on course to book the strongest month since 2020, according to data from Kpler cited by Bloomberg. India has been under intense pressure from the United States to stop importing crude from Russia, and while New Delhi has been wary of making any formal commitments, oil […]Read More
February 20, 2026 A jump in China’s crude oil imports from Russia is more than compensating the withdrawal of the Indian refiners from spot Russian purchases, according to tanker-tracking data compiled by Bloomberg. So far in February, deliveries of Russia-origin cargoes at Chinese ports have averaged 2.09 million barrels per day (bpd), up from an […]Read More
February 19, 2026 President Bola Tinubu has issued an executive order to safeguard and enhance oil and gas revenues for the Federation, curb wasteful spending, eliminate duplicative structures in this critical sector of the national economy, and redirect resources for the benefit of the Nigerian people. The President signed the EO in pursuance of Section […]Read More
February 17, 2026 Once-dominant energy giant BP is running on empty as it curbs shareholder payouts and unveils fresh attempts to bolster its balance sheet. The London-based oil baron announced in its final results on Tuesday that it has suspended its share buyback programme and increased its cost-cutting goal as it looks to reverse its […]Read More
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