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U.S. to Release 172 Million Barrels of Oil to Calm Market

The U.S. will release 172 million barrels of oil from the Strategic Petroleum Reserve, a step aimed at easing energy costs as the Iran...

IEA Announces Largest Oil Stock Release Amid Mideast War

The 32 Member countries of the International Energy Agency (IEA) agreed unanimously on 11th March 2026 to place 400 million barrels of oil from...

U.S. Issues 30-day Sanctions Waiver for Russian Oil at Sea

The United States of America has introduced a 30-day sanctions waiver allowing countries to purchase sanctioned Russian oil and petroleum products that are currently...

OMV Petrom Joins Black Sea Exploration Project Consortium

OMV Petrom, the largest integrated energy producer in Southeast Europe, has joined the exploration consortium developing the Han Tervel offshore block in the Bulgarian...