As India is tentatively pulling back from buying Russian oil after the U.S. trade deal, Russia’s crude is being offered in China at widening discounts to attract Chinese refiners, trade sources have told Reuters.     This week, the discount of the ESPO blend that Russia ships from the Kozmino port in the Far East widened to almost $9 per barrel to ICE Brent, up from the $7–$8 a barrel discount of the past months, according to the trade sources. Discounts for Russia’s flagship Urals crude grade shipped from Russia’s…

As the geopolitical map of South American oil shifts in early 2026, the contrast between Guyana and Venezuela has never been starker.  In global energy markets, geology is often treated as destiny. If a country has oil, investment and prosperity are assumed to follow. But, in recent years, the contrast between Guyana and Venezuela—two neighbors sitting atop the same prolific basin—offers a powerful rebuttal to that assumption. The two countries share some similarities, but they occupy completely different economic worlds. One is…

ConocoPhillips (NYSE: COP) booked lower-than-expected earnings for the fourth quarter as higher production was unable to offset the decline in oil prices. ConocoPhillips reported on Thursday fourth-quarter adjusted earnings of $1.3 billion, or $1.02 per share. That was nearly halved compared with adjusted earnings of $2.4 billion, or $1.98 per share, for the fourth quarter of 2024. The earnings for October-December 2025 were also lower than the $1.07 analyst consensus estimate in The Wall Street Journal.  ConocoPhillips attributed the decline…

ConocoPhillips (NYSE: COP) booked lower-than-expected earnings for the fourth quarter as higher production was unable to offset the decline in oil prices. ConocoPhillips reported on Thursday fourth-quarter adjusted earnings of $1.3 billion, or $1.02 per share. That was nearly halved compared with adjusted earnings of $2.4 billion, or $1.98 per share, for the fourth quarter of 2024. The earnings for October-December 2025 were also lower than the $1.07 analyst consensus estimate in The Wall Street Journal.  ConocoPhillips attributed the decline…

ConocoPhillips (NYSE: COP) booked lower-than-expected earnings for the fourth quarter as higher production was unable to offset the decline in oil prices. ConocoPhillips reported on Thursday fourth-quarter adjusted earnings of $1.3 billion, or $1.02 per share. That was nearly halved compared with adjusted earnings of $2.4 billion, or $1.98 per share, for the fourth quarter of 2024. The earnings for October-December 2025 were also lower than the $1.07 analyst consensus estimate in The Wall Street Journal.  ConocoPhillips attributed the decline…

After striking a trade and investment deal with the United States last month, Taiwan plans to hike imports of U.S. LNG this year to have American gas account for about a third of its supply. “We plan to increase purchases of natural gas from the U.S. to 30%-33% this year from about 10% now,” Fang Jeng-zen, chairman of Taiwan’s state-held oil and gas company CPC Corporation, told reporters on Thursday, as carried by Reuters. Taiwan wants to buy more gas from the U.S. and will reduce imports from other suppliers, said the Economy…

TotalEnergies has signed two clean firm power contracts to supply 3.3 terawatt-hours (TWh) to all major sites of aircraft manufacturer Airbus in Germany and the United Kingdom, the French supermajor said on Thursday as it continues to boost its integrated power portfolio with renewable electricity.   Unlike other European majors such as BP and Shell, which have outright reduced spending on renewables, TotalEnergies is betting big on its Integrated Power business and has a strategy to reach a 12% profitability target for the division.…

Russian and Ukrainian officials held a second day of US-brokered talks aimed at ending Moscow’s all-out war on Ukraine, as negotiators grappled with major sticking points about Ukrainian territory and security guarantees. In a small sign of progress, the two sides agreed to another exchange of prisoners of war, something that has happened periodically over the course of the nearly four-year-old Russian invasion. Steve Witkoff, the White House envoy who has led the US-led talks, said on February 5 that 314 prisoners in all would be released.…

India’s largest state-owned refiner, Indian Oil Corporation (IOC), saw its net profit surge four times for the quarter ended December 31 compared to a year earlier as falling crude oil prices boosted refining margins.   Indian Oil reported on Thursday a standalone net profit of $1.34 billion (121.26 billion Indian ‌rupees) for the October-December quarter, which is the third quarter of its 2025/2026 fiscal year ending on March 31, 2026. That’s a fourfold jump compared to the net profit of $318 million (28.74 billion rupees)…