News

Around 1.4 million barrels per day of Russian oil, or almost a third of the country's seaborne exporting potential, remain in tankers as unloading slows due to U.S. sanctions against Rosneft and Lukoil, JPMorgan said on Thursday. The U.S. set a November 21 deadline to wind down all dealings with Rosneft and Lukoil, in the first direct sanctions imposed on Russia by President Donald Trump since the start of his second term. The sanctions have put a strain on Lukoil's business, forcing it to [Read more]

Canadian Energy Advisors Group is working with TWP50 Resources to find qualified parties to participate in their top-tier, Leduc, light, sweet oil play on their Wizard Lake property in Central Alberta. This is a classic Leduc formation attic oil over a defined historical Leduc oil pool. The property includes 100% owned existing late-stage production from one well along with gas and water disposal infrastructure. The Development Phase includes drilling 3-4, 1835 metre vertical locations to [Read more]

European Union lawmakers backed further cuts to the bloc's corporate sustainability law on Thursday, following months of pressure from companies and some governments demanding the EU weakens its rules. The European Union's corporate sustainability due diligence directive (CSDDD) was adopted last year and requires companies to fix human rights and environmental issues in their supply chains, or face fines of up to 5% of global turnover. The law has become a political flashpoint, with [Read more]

The International Energy Agency (IEA) raised its global oil supply growth forecasts for this year and next in its monthly oil market report on Thursday, signalling a deeper surplus in 2026. "Global oil market balances are looking increasingly lopsided, as world oil supply is forging ahead while oil demand growth remains modest by historical standards," the IEA said. The agency expects global oil supply to grow by around 3.1 million barrels per day (bpd) in 2025 now, and 2.5 million bpd [Read more]