Angola sells $7.6 billion worth of crude in 2019

The EU has stopped buying Russian seaborne crude oil as it seeks to deprive Moscow of a key revenue source fueling its war in Ukraine. The move will hurt Russia but not as much as the bloc would have liked.

Chinese leader Xi Jinping wrapped up a visit to Saudi Arabia with a joint statement regarding bilateral commitments. Xi also invited Saudi King Salman bin Abdulaziz to visit Beijing.

EU member states are divided on the cap, with Germany, Austria and the Netherlands skeptical of the policy. Talks will resume on Monday, with France a key player in the final negotiations.

The busy Kiel Canal in northern Germany, linking the North Sea with the Baltic Sea, has come to a halt as crews try to clear the oil from waters after a pipeline leak.

Shell Petroleum Development Company (SPDC) yesterday announced that it would pay €15 million to farmers in three Niger Delta communities as compensation for damages to their farms from pipeline leaks between 2004 and 2007.

Uganda on Tuesday commissioned the first of its four planned oil rigs and the start of drilling the first production well, a key milestone as the country races to meet its target of first oil output in 2025 after a long delay.

More than 13,000 Nigerian residents take Shell to court over oil spills. The claim from 11,317 people and 17 institutions in the Niger Delta area of Ogale was filed last week, according to Leigh Day, the U.K. law firm representing the plaintiffs.

The Big Oil bonanza keeps on coming, as France's TotalEnergies rounds out a week of record profits. Oil and gas giants have faced growing criticism about their environmental impact, as well as calls to pay higher taxes while households and businesses struggle with high energy prices.

The five largest Western oil firms announced nearly $200 billion in profits after the Ukraine war sent energy prices soaring. As China reopens, oil demand is likely to stay strong, alongside calls for windfall taxes.

A French court has rejected a demand to suspend a controversial oil and gas project largely owned by energy giant TotalEnergies in East Africa. But a lesson could be drawn from the verdict.

Germany has said it wouldn't be buying Russian crude oil this year as it weans itself off its erstwhile biggest energy supplier. But an oil deal with Kazakhstan means Moscow would continue to hold some sway over Berlin.

An explosion on a Nigerian oil pipeline owned by Shell killed at least 12 people on Friday (March 3), authorities at the scene said, while members of the affected community in Emohua said they feared many more had died in the blast.