Despite the COVID resurgence, the oil market will become increasingly tight this year, OPEC+ estimates show, but as the group continues to ease the production cuts into next year, the balance will tip into surplus again in 2022.

After several months of slowdowns in spot market oil cargo buys, Chinese importers are once again boosting their purchases, Reuters reports, citing traders and analysts.

China’s state-owned oil and gas major Sinopec has struck oil and gas at a field in the northwestern province of Xinjiang, Reuters reports, adding that the reserves at the field are estimated at some 100 million tons.

Brazil and its tiny neighbors Guyana and Suriname have recently risen to prominence with major oil discoveries despite what most would see as an unfavorable environment—the energy transition seems to be moving ahead at full speed and oil’s days should be numbered. Only they aren’t. And the future of oil appears to be offshore.

Oman occupies a strategically vital position in the geography of the Middle East, possessing long coastlines along the Gulf of Oman and along the Arabian Sea, away from the extremely politically sensitive Strait of Hormuz.

Oman occupies a strategically vital position in the geography of the Middle East, possessing long coastlines along the Gulf of Oman and along the Arabian Sea, away from the extremely politically sensitive Strait of Hormuz.

As Brazil’s oil industry looks set to soar over the next decade, with the potential to provide almost a quarter of the world’s offshore oil by 2025, Big Oil is betting big on the oil-rich state.

"Fourteen five" 500 billion special funds! This year, 100 billion yuan will be allocated to support photovoltaic and wind power projects.

Russia seems intent on selling the world’s very last barrel of oil. As other energy superpowers and petro-states around the world scramble to diversify their economies and establish a foothold in the burgeoning green energy transition, Russia has stalwartly refused to ease its reliance on its fossil fuels industry and is vying for the distinction of being the last man standing in an industry whose days are inevitably numbered.

WEIMA is rated as a "little giant" enterprise of national specialty and new

The world’s largest oil importer, China, is estimated to have drawn some crude from its oil reserves in July, although its refining throughput fell to the lowest level in over a year, Reuters columnist Clyde Russell has estimated based on official Chinese data.

Canada’s oil sands producers may find welcome relief to years of pipeline capacity constraints when the first new pipeline in years could enter into service as early as next month.