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Oil & Gas

Oil Prices Post 3% Annual Decline

Oil Prices Post 3% Annual Decline

18-01-2026

Lion Energy Discovers Potential Oil Field on Seram Island, Indonesia
Australian-listed company Lion Energy Limited recently issued an announcement, revealing the discovery of a potential oil field in the Bula Bay area on Seram Island in eastern Indonesia. The company stated that the area may contain previously untapped pet
18-01-2026

Venezuela Officially Launches Liquefied Petroleum Gas Exports
On January 16, Venezuelan Acting President Delcy Rodríguez announced at the National Productive Economy Council meeting that Venezuela has signed contracts for the commercialization of liquefied petroleum gas, marking the official launch of the
18-01-2026

Larsen & Toubro Secures EPC Contract from ONGC for Dahej Petrochemical Complex Storage Tanks
India's Larsen & Toubro (L&T) announced that it has secured a lump-sum turnkey contract from the state-owned energy company Petronet LNG Ltd. The contract involves the design, procurement, construction, and commissioning of two large doubl
09-01-2026

Standard Bank Backs $285M Acquisition in Nigeria’s Gas Sector
Standard Bank has arranged a $285 million structured financing package to enable BlueCore Gas InfraCo to acquire Glover Gas & Power, the sole owner of Axxela – a major natural gas distributor in Nigeria.Axxela is one of West Africa&rsquo
08-01-2026

Shell Invests in Water Injection Project for Kaikias Field in US Gulf of Mexico
Shell announced that its subsidiary, Shell Offshore Inc., has decided to invest in a water injection project for the Kaikias field in the US Gulf of Mexico.It is understood that water injection is a secondary oil recovery method that involves injecting wa
08-01-2026

BP Agrees to Sell 65% Stake in Castrol for $10 Billion
Recently, BP announced that it has reached an agreement with Stonepeak to sell a 65% stake in Castrol to Stonepeak for $10 billion.BP stated that upon completion of the transaction, it will establish a new joint venture with Stonepeak, in which Stonepeak
06-01-2026

Contract Signed for New Subsea Pipeline Construction at Turkey's Sakarya Gas Field
Italian energy engineering company Saipem has recently signed a new contract worth approximately $425 million with the Turkish Petroleum Offshore Technology Center. According to the contract, Saipem will undertake additional engineering, procurement, cons
05-01-2026

Harbour Energy to operate Zama oil project in Mexico
The Zama partners, encompassing Pemex, Grupo Carso, and Talos Energy, agreed to the appointment.UK based independent oil and gas company Harbour Energy has been named the operator of the Zama offshore oil project in Mexico.The Zama partners, encompassing
05-01-2026

Chevron produces first oil at South N’dola platform in Angola
Chevron produced its initial oil at its South N’dola offshore platform in Angola, a major step reached slightly more than two years after construction commenced.The platform sits in Block 0, an offshore producing area that accounts for about 12%
04-01-2026

Vietnam oil & gas firms post record profits in 2025
Binh Son Refining and Petrochemical JSC (HoSE: BSR), operator of the Dung Quat oil refinery, said output was estimated at nearly 7.91 million tons, with revenue of VND142.3 trillion ($5.41 billion) and pre-tax profit of VND4.7 trillion ($178.7 million), m
04-01-2026

Türkiye to launch offshore oil and gas exploration off Somalia
Developments in Venezuela, where the United States is reportedly conducting a special operation targeting President Nicolas Maduro, could push global oil prices higher, Hungarian Prime Minister Viktor Orban said.According to Azernews, Orban made the remar
Oil&Gas Drilling
01-01-2026

Turkey Seeks Agreement With Syria on Offshore Energy E&P
Turkey is planning to reach an agreement with the new government of Syria on maritime cooperation and offshore E&P, the nation's minister of energy said in an interview this week.The deal would allow Turkey's oil and gas companies to b
Oil&Gas Drilling
03-01-2026

UAE Shipyard Welcomes Saudi Arabian Drilling Rig for Maintenance Operations
Abu Dhabi-headquartered Marine Oilfield Integrated Solutions has confirmed that a jack-up drilling rig owned by Saudi Arabia's Arabian Drilling has arrived at its Hamriyah shipyard in Sharjah, UAE, to commence comprehensive maintenance work.Marine
Crude Oil
31-12-2025

CNOOC's Offshore Gas Field Cluster Around Hainan Island Achieves Annual Oil and Gas Equivalent Output Exceeding 10 Million Tons
On December 30, CNOOC announced that the cumulative oil and gas equivalent production of its offshore gas field cluster around Hainan Island in 2025 has exceeded 10 million tons, reaching a record high. The output has doubled compared to the end of the 13
Crude Oil
03-01-2026

Egyptian Petroleum Minister Inspects First Exploration Well Operations at New Oil Field in Gulf of Suez
Egypt's Minister of Petroleum and Mineral Resources, Karim Badawi, recently visited the Gulf of Suez region to inspect the drilling progress of Well No. 133. The well is being operated by Belayim Petroleum Company using the Trident 16 drilling pla
Natural Gas
30-12-2025

Egypt and Lebanon Sign Memorandum of Understanding on Natural Gas Supply
Officials from Egypt and Lebanon signed a memorandum of understanding in Beirut on December 29, aimed at facilitating the supply of Egyptian natural gas to Lebanon's Deir Ammar power plant. The memorandum was signed by Egyptian Minister of Petrole
LNG
29-12-2025

Australia’s Woodside Signs Binding LNG Supply Deal With Turkey’s Botas
Australia's Woodside Energy announced on Monday that it has entered into a binding supply agreement with Turkey's state-owned petroleum company BOTAS. The deal covers the delivery of approximately 5.8 billion cubic meters of liquefied natu
Natural Gas
26-12-2025

Russia’s Gazprom Supplied 38 Bcm of Gas to China via Power of Siberia Pipeline in 2025
Russia's energy company Gazprom supplied 38.8 billion cubic metres of natural gas to China through the Power of Siberia pipeline in 2025. This represents an increase of nearly 20% compared to the previous year, according to Gazprom CEO Alexei Mill
LNG
25-12-2025

Malaysia’s Petronas Signs LNG Supply Deal With China’s CNOOC
Malaysian state-owned energy company Petroliam Nasional Berhad (Petronas) announced on Wednesday that it will supply Chinese offshore oil and gas company CNOOC with 1 million metric tons per annum of liquefied natural gas (LNG).The agreement was signed be
Oil&Gas Drilling
24-12-2025

Norway’s November Oil and Gas Production Beats Forecast
Norway's combined oil and gas production in November exceeded the official forecast by 0.9%, according to preliminary data released by the Norwegian Offshore Directorate (NOD) on Tuesday.As Europe's leading supplier of natural gas and a si
Crude Oil
22-12-2025

China’s Largest Offshore Oilfield Reports Record Annual Oil, Gas Output
China National Offshore Oil Corporation (CNOOC) announced on December 21, 2025, that the Bohai Oilfield, the country's largest offshore oil and gas production area, has achieved a record output of more than 40 million tonnes of oil equivalent in 2
Oil Shale
20-12-2025

Japanese Company Buys U.S. Shale Assets for $1.3 Billion
Japan Petroleum Exploration Co. (JAPEX) has agreed to acquire U.S. shale oil and gas producer Verdad Resources Intermediate Holdings for $1.3 billion. The transaction will be funded through a mix of existing cash reserves and borrowed funds.Verdad'
Oil & Gas Trade
18-12-2025

Carlyle Hires Goldman Sachs for Lukoil Asset Bid
U.S. private equity firm Carlyle has engaged Goldman Sachs to assist with its potential acquisition of international assets from Russian oil company Lukoil. This development was reported by Reuters on Wednesday, citing two individuals familiar with the de
LNG
17-12-2025

Chevron to Supply Hungary With 2 Billion Cubic Metres of LNG, Minister Says
Hungary's state-owned energy company MVM has entered into a five-year agreement with U.S. energy firm Chevron for the delivery of liquefied natural gas totaling 2 billion cubic meters, announced Hungarian Foreign Minister Peter Szijjarto on Decemb
Gas Pipeline
16-12-2025

Uniper to Launch Sale of 20% Stake in Opal Gas Pipeline
Uniper has initiated the process to divest its 20% stake in the regulated OPAL gas pipeline, in line with the European Commission's state aid approval decision dated 20 December 2022.The scope of the transaction includes the full transfer of share

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Most views from Oil & Gas

CNOOC's Offshore Gas Field Cluster Around Hainan Island Achieves Annual Oil and Gas Equivalent Output Exceeding 10 Million Tons

Egypt and Lebanon Sign Memorandum of Understanding on Natural Gas Supply

Gastech 2023 - Shaping the future of energy

Harbour Energy to operate Zama oil project in Mexico

Contract Signed for New Subsea Pipeline Construction at Turkey's Sakarya Gas Field

China’s Recovery in Crude Oil Imports Is More Bearish Than Bullish