China, Saudi Arabia Top Buyers of Russian Oil in July
Russia’s seaborne exports of fuel oil and vacuum gasoil (VGO) surged by 7% in July, reaching approximately 4.05 million metric tons, as reported
OIL & GAS
OIL & GAS
Saudi Aramco Reports 3.4% Drop in Q2 Profit
Saudi Aramco, the world’s largest oil producer, reported a 3.4% decline in second-quarter profit due to reduced crude volumes and weaker refining margins.
OIL & GAS
TotalEnergies to Sell Stake in Total PARCO Pakistan Limited to Gunvor Group
French oil major TotalEnergies has announced an agreement to sell its 50% stake in Total PARCO Pakistan Limited to global commodities trader Gunvor
OIL & GAS
Politics
Nigeria: Reps Dissolve Ad-Hoc Committee Investigating Adulterated Fuel Import
The Nigerian House of Representatives has dissolved its ad-hoc Joint Downstream and Midstream Committee, initially established to investigate the importation of adulterated petroleum
OIL & GAS
Exxon Mobil Reports Strong Second-Quarter Earnings
Exxon Mobil reported a better-than-expected second-quarter profit of $9.2 billion, driven by rising oil prices and increased production following its acquisition of shale
OIL & GAS
OPEC Oil Output Rises in July amid Rebound in Saudi Supply
OPEC oil production rose in July, with an increase of 100,000 barrels per day (bpd) from June, reaching a total of 26.70 million
OIL & GAS
BP, ADNOC Explore Investment Opportunities in Cyprus’ Natural Gas Sector
Representatives from BP and Abu Dhabi’s state oil giant, ADNOC, met with Cypriot Energy Ministry officials to discuss potential investments in Cyprus’ burgeoning
ELECTRICITY
RENEWABLE ENERGY
AfDB Approves $500 Million Loan to Nigeria for Energy Transition Program
The African Development Bank Group’s Board of Directors has approved a $500 million loan to Nigeria to finance the first phase of the
OIL & GAS
RENEWABLE ENERGY
IEA to Host International Summit on Future of Energy Security in London
The International Energy Agency (IEA) will convene an International Summit on the Future of Energy Security in the second quarter of 2025, hosted
OIL & GAS
Shell’s Q2 Profits Surpass Expectations
Shell reported a second-quarter profit of $6.3 billion, marking a 19% decline from the previous quarter. Despite the drop, the profit exceeded analysts’