Oil & gas

BP to sell 65% stake in Castrol to Stonepeak for $6 billion

By Unnikrishnan | 25 Dec 2025

BP sells 65% of Castrol to Stonepeak for $6B, valuing the unit at $10B.[1][2][3][4][5][6] The deal cuts debt and forms a new JV, with BP retaining a 35% stake.

Reliance got one-month reprieve from US sanctions on oil imports from Russia: report

By Unnikrishnan | 25 Dec 2025

Reliance secures a 1-month US waiver for pre-contracted Russian oil. RIL diverts Rosneft cargoes to domestic units to safeguard EU exports.

Myanmar restarts LNG imports after four-year hiatus; first cargo powers 150 MW grid injection

By Axel Miller | 23 Dec 2025

Myanmar restarts LNG imports after 4 years with Dapeng Princess delivery. CNTIC VPower & Everest Energy power 150 MW at Thilawa to ease 2026 blackouts.

ADNOC secures historic $11 billion financing for Ghasha gas project after Lukoil exit

By Axel Miller | 18 Dec 2025

ADNOC signs historic $11 billion financing for Hail and Ghasha gas project. Deal follows Lukoil’s exit and targets the world’s first net-zero gas production

India’s Russian Oil Imports Defy Sanctions Squeeze as Discounts Widen to $7/Barrel

By Axel Miller | 17 Dec 2025

India’s Russian oil imports defy sanctions forecasts, tracking 1.85 million bpd in December as state refiners exploit $7/barrel discounts while Reliance pauses.

India’s Crude Palm Oil Imports Rise in November as Price Gap Widens

By Axel Miller | 15 Dec 2025

India’s Crude Palm Oil imports rose in November 2025 as refiners switched from expensive soft oils. Total edible oil imports hit a 7-month low.

India’s Russian Crude Imports Hit Five-Month High as State Refiners Fill Gap

By Axel Miller | 12 Dec 2025

India’s Russian crude imports hit a 5-month high of €2.6 billion in November as state refiners ramp up buying. Refined fuel exports to Australia surge.

Over 30 Sanctioned Vessels in Venezuela Face Fresh Risk After U.S. Seizes Tanker

By Axel Miller | 11 Dec 2025

U.S. seizes Venezuelan oil tanker Skipper, putting over 30 sanctioned vessels at risk and rattling the global shadow fleet.

Venture Global Rejects Shell's Fraud Claims as LNG Battle Intensifies

By Axel Miller | 10 Dec 2025

Venture Global denies Shell’s fraud allegations in New York court filing, citing confidentiality breaches while signaling potential settlement talks. Stock slides to $6.56.