Latest Oil Market News and Analysis for Oct. 26
Oil edged lower from a six-month high, even as US President Donald Trump signaled he was prepared to resume attacks on Iran.
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Oil edged lower from a six-month high, even as US President Donald Trump signaled he was prepared to resume attacks on Iran.
The Prospector 5 rig sank off Mayumba in southern Gabon on 24 October 2026; 110 of 115 people were rescued, five are missing and an inquiry has opened. The post Gabon Oil Rig Sinks, 5 Workers Missing appeared first on The Rio Times.
Colombia says it will put about US$855 million behind a plan to avoid blackouts during El Niño, but US$380 million of it still needs Congress. The post Colombia Pledges US$855M to Avert Blackouts appeared first on The Rio Times.
An Egypt-based oil company, Cheiron, will operate Peru’s Lot 192 Amazon oil field with a 75% stake. State-owned Petroperú keeps 25% after a 23 October decree. The post Egyptian Firm Cheiron to Run Peru Oil Field appeared first on The Rio Times.
Singapore expects all parties who have signed commercial contracts for gas supplies to “honour their commitments”, said Prime Minister Lawrence Wong on Sunday after Indonesia cut its exports. Speaking at the People’s Action Party (PAP) convention, Wong added that Singapore’s gas importer will take the necessary steps to protect its rights and interests. Indonesia began reducing natural gas exports to Singapore on Saturday. Indonesia’s upstream oil and gas regulator SKK Migas said the move was to...
Former energy minister Jagadish Reddy rejects Congress argument on YTPS location
A Kenyan company is ready to support exploitation works at Karthala, the Comoros volcano, as the island nation prepares 3 geothermal exploration wells. The post Kenyan Firm Eyes Comoros Geothermal, 3 Wells appeared first on The Rio Times.
KenGen's board named Ronoh Kibet, its commercial services chief, as next chief executive on Saturday 24 October; he succeeds Peter Njenga on 1 February 2027. The post KenGen Ronoh Kibet CEO Starts 1 Feb appeared first on The Rio Times.
Oliver Wyman Geostrategy Practice Leader Daniel Tannebaum tells Bloomberg This Weekend that the first Russian diesel shipment under President Donald Trump’s deal with Vladimir Putin raises legal and compliance questions while offering limited relief for US fuel prices. Speaking with hosts David Gura and Christina Ruffini, Tannebaum says private companies remain wary of doing business with Russia and warns that uncertainty over US sanctions and technology policy could push foreign governments and businesses toward alternatives to American suppliers. (Source: Bloomberg)
Tunisia's energy ministry let EXXOIL SA take all of the El Menzah oil concession, an order published on Friday, 23 October 2026. The post EXXOIL Gets 100% of Tunisia Oil Concession appeared first on The Rio Times.
Oil climbed on Friday, with Brent settling at US$116.72, up 3.1%, and WTI up 3.8%, lifting Petrobras, YPF and Ecopetrol in New York. The post Brent Crude Settles at US$116.72, Up 3.1% | Oil, Oct 23 appeared first on The Rio Times.
Tanzania's deputy energy minister met two Chinese firms on 23 October to discuss gas, oil and power, while a US$42 billion LNG project awaits signing. The post Tanzania Weighs Chinese Gas and Power Deals appeared first on The Rio Times.
Benin's Glo-Djigbé Industrial Zone announced on 21 October a plan for more than 225 MW of thermal and 300 MW of solar power, with its gas pipeline finished. The post Benin Zone Plans Thermal and Solar Plants appeared first on The Rio Times.
Vikas Kaushal, Chairman and Managing Director (CMD) informed the state-owned OMC is procuring more on landed basis than on FOB basis and term contracts
Indonesia’s warnings of curbing energy exports to countries it deems disrespectful amid regional tensions have put Singapore and other Southeast Asian buyers on notice, exposing the risks of relying on a neighbour increasingly protective of its resources. But analysts see little chance of Jakarta following through on the threat, given its own economic interests and the mutual benefits of regional energy cooperation, including the long-planned Asean Power Grid. On Thursday, Coordinating Minister...
Tokyo, Oct. 23 (Jiji Press)--Japanese Prime Minister Sanae Takaichi on Friday instructed industry minister Ryosei Akazawa to review government subsidies aimed at holding down the prices of gasoline and other fuel oil. In talks with reporters at the prime minister's office earlier in the day, Takaichi noted that some in both the ruling and opposition blocs have urged the government to consid...
US Secretary of State Marco Rubio pushed a business and energy agenda over diplomacy on his second trip to India this year.
Dr. Fatih Birol, Executive Director of the IEA, warns that energy is becoming a geopolitical weapon.
Plus, Barclays announces a £500 million share buyback
Tokyo, Oct. 22 (Jiji Press)--The Japanese government is considering providing subsidies to lower electricity and city gas costs in the first quarter of 2027, when heating demand rises, as energy prices remain elevated because of the war in the Middle East, people familiar with the matter said Wednesday. The government provided some about 7,000 yen in electricity and gas subsidies to an aver...
China’s industrial heartland of Guangdong is being forced to turn back to costlier natural gas to meet rising electricity demand, after the El Niño weather pattern curtailed hydropower and wind output.
APA Group reached a final investment decision on a natural gas pipeline between Queensland and New South Wales states, which could help alleviate projected shortfalls in the more heavily populated southeast of Australia.
Equity Bank Uganda and the energy ministry launched a green hospitality plan on 20 October, with loans for solar power and efficient cooling in hotels. The post Equity Bank Uganda Backs Green Hotels 20 Oct appeared first on The Rio Times.
Bloomberg's Mark Chediak joins Dani Burger on "Bloomberg Deals." Virginia Governor Abigail Spanberger won’t support NextEra Energy’s $67 billion Dominion Energy takeover without a six-year freeze on residential power rates, raising the bar for a utility mega-deal that’s facing increasing skepticism. (Source: Bloomberg)
French president meets Mohammed bin Salman in Riyadh to discuss energy, security, and infrastructure.
Botswana's energy regulator said on Monday 19 October that a bill creating power trading and private transmission lines goes to Parliament in November. The post Botswana Power Trading Plan, Imports at 35% appeared first on The Rio Times.
Liberia hosts its first international mining and energy conference on 28 and 29 October, with iron ore, gold and power projects worth over US$3 billion. The post Liberia Mining Conference Starts 28 October appeared first on The Rio Times.
Oil steadied after a choppy session on Tuesday that saw traders parse conflicting headlines on efforts to end the US-Iran war.