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Friday, July 18th, 2025 The constant drumbeat of Russian sanction announcements is keeping Brent futures around $70 per barrel, with the European Union and its concept of a floating price cap taking centre stage this week.
In June 2025, the company lifted its first crude cargo from the newly-constructed facility—the first indigenous onshore terminal constructed in the country in five decades—signaling the start of operations at the terminal. By March 2025, the facility began injecting crude, with GEIL’s production averaging 5,000 bpd.
The first quarter of 2025 has seen a remarkable surge in oil and gas mergers and acquisitions (M&A) within the upstream oil and gas sector, with transactions totaling $17 billion. These basins are gaining renewed interest due to rising gas prices and the growing impact of LNG exports, offering a more level playing field for non-majors.
by Andreas Exarheas | Rigzone Staff | Monday, July 14, 2025 | 7:47 AM EST Rigzone talks to Carole Nakhle, the Chief Executive Officer of London based consultancy Crystol Energy. per barrel in 2025. per barrel in the fourth quarter of 2025. per barrel in the fourth quarter of 2025. The Brent spot price averaged $80.56
Qatar’s North Field East LNG expansion project is set to start operations in the middle of next year, “although much of its expected upside will spill into 2027,” the IEA said in the report. For the rest of 2025, however, the IEA cautioned that the market remains vulnerable to shocks.
June 16, 2025 Edition At Valor, our goal is to keep you informed of the latest news and updates from the oil and gas industry. Iran’s gas field saw partial shutdown but Strait of Hormuz flows remained uninterrupted. Oil prices fall more than $1 barrel on reports Iran seeks truce with Israel Summary : Oil prices fell 1.3%
This is despite the fact that most of the last half-decade have not been banner years for broader investment in technology fields – affirming fusion’s unique appeal as a secure, scalable, and clean energy solution to the world’s power needs.”
natural gas storage is on track to end the April-October summer injection season at a three-year low of 3.797 trillion cubic feet (tcf) on October 31, 2025, according to analysts’ estimates. The 387 active storage fields in the Lower 48 states had a design capacity of 4.671 tcf in November 2024, according to the latest federal data available.
Brent Crude $68.75 -0.77% Natural Gas $3.32 -6.98% Latest Oil Prices SUBSCRIBE SEARCH ARTICLES NEWS USA EIA Reveals Latest USA Crude Oil Production Forecast by Andreas Exarheas | Rigzone Staff | Monday, July 21, 2025 | 8:27 AM EST The U.S. million barrels per day across 2025 and 2026. million barrels per day of the total 2025 U.S.
In liquefied petroleum gas (LPG), production rose from 2 million tonnes in 2024 to 3 million tonnes in 2025. Exports also surged from 250,000 tonnes in 2023 to 1 million tonnes in 2025. LPG systems were installed in over 41,000 homes and more than 38,000 vehicles.
PetroNor E&P ASA has provided the following update on the Congo operations related to the PNGF Sud field complex:Second quarter average net working interest production was 4,240 bopd*, compared with … Read More The post CONGO: PetroNor E&P Provides Q2 2025 Production Update appeared first on oilnewsafrica.
It follows the award on 9 January 2025 of a contract for front-end engineering (FEED) and design that finalized the technical definition of the development. “The FEED study enabled Subsea7 to engage early in the field development process, optimizing design solutions and contributing to the final investment decision.
This year’s conference will occur August 17-20, 2025, at T he Westin Denver Downtown. His earlier experience includes field operations, engineering, and human resources across North America, South Asia, and the Middle East. Conference Dates: August 17–20, 2025. Gatti served on the Board of Helix Energy Solutions Group, Inc.
Below we summarize recent (2024–2025) drilling activity, budget allocations, and production volumes in Oklahoma (primarily the Anadarko Basin and related plays) for six companies: Ovintiv , Mach Natural Resources , Devon Energy , Coterra Energy , Continental Resources , and Mewbourne Oil Company. Liquids” includes crude oil and NGLs.
June 23, 2025 Edition At Valor, our goal is to keep you informed of the latest news and updates from the oil and gas industry. The post Valor | Energy Connection – June 23, 2025 appeared first on Oil and Gas Outsourcing and Mineral Management.
Together, upstream oil and gas investment for 2025 is forecast at less than US$570bn, a decline of around 4%. Of this, 40% is dedicated to slowing down production declines at existing fields. Global refinery investment in 2025 is set to fall to its lowest level in the past 10 years.
The Guyanese field’s production has soared from zero in 2019 to 668,000 barrels per day by the end of March 2025, and is forecast to nearly double to 1.3 million bpd in the first quarter of 2025. These firms replenish their reserves not only to grow output but also to offset existing fields’ natural decline.
“We have a large portfolio of projects that will phase in discoveries to our producing fields. Oil from the Fram field goes through Troll Oil Pipeline II to Mongstad, and gas is exported to Kollsnes via the Troll A platform. Image by Cavan Images via iStock Equinor ASA and its partners have agreed on a NOK-21 billion ($2.09
“This Memorandum of Understanding outlines the realization of a work program for the appraisal and development of gas resources in the North-East Timimoun region, in synergy with existing processing facilities for production from the Timimoun field, to reduce costs and emissions”, TotalEnergies said in a press release April 8, 2024.
are also among the 37 companies that have lodged interest, with contracts due to be signed with successful bidders by the end of 2025, National Oil Corp Chairman Massoud Seliman said in an interview in the capital, Tripoli. The development of its north Jalo field alone would add 100,000 barrels. (World Oil) – Chevron Corp.
Natural Gas $3.52 -0.17% Latest Oil Prices SUBSCRIBE SEARCH ARTICLES NEWS Drones Hit Oil Fields in Northern Iraq in Spree of Attacks by Bloomberg | Khalid Al-Ansary & Rakteem Katakey | Wednesday, July 16, 2025 | 5:13 AM EST No one has claimed responsibility for the latest spree. Gulf Keystone Petroleum Ltd., What do you think?
Austin, Texas (May 28, 2025) — Enverus, the most trusted energy-dedicated SaaS company that leverages generative AI across its solutions, successfully concluded its annual EVOLVE Conference, held May 12–15 in Houston, Texas. From AI-powered trading to clean fuel strategies, our attendees are not just adapting to change—they’re leading it.”
Upon delivery, the P-78 will be deployed in Brazil’s prolific Buzios field, the largest deepwater oil field globally, with an impressive production capacity of 180 000 bpd of oil, 7.2 Upon completion, the P-78 will transit to the Buzios field, where Seatrium will conduct the final phase of offshore commissioning works.
CALGARY, Alberta, June 17, 2025 (GLOBE NEWSWIRE) — Prospera Energy Inc. PEI, OTC: GXRFF) (“Prospera”, “PEI” or the “Corporation”) Prospera Energy remains committed to providing stakeholders with transparent, timely, and data-driven updates on operational performance and field developments.
billion) all-share merger, officially announced on May 12, 2025. Whitecap has revised its 2025 production guidance upward to 295,000–300,000 boe/d, with approximately 63% liquids. net) expected to come online in the second half of 2025. The divestitures are expected to close before June 30, 2025. In addition, 91 (74.8
(World Oil) – Baker Hughes will provide Equinor plug and abandonment (P&A) services in the Oseberg East field on Norway’s continental shelf. This project follows the March 2025 signing of a multi-year framework agreement between Baker Hughes and Equinor to provide integrated plug and abandonment services.
Maria Phase 2 is a four well subsea tie-back to existing infrastructure in Harbour’s operated Maria field. Production from the first well was delivered safely, on time and to budget. This marks the first of the next wave of subsea developments we are bringing on-stream to support production from our Norway business.”
As fields age, they generate higher water to oil ratios. In some mature fields, 10 barrels of water are generated for every barrel of oil produced. However, it is becoming a problem in some onshore fields. This could force operators to stop production in previously profitable fields.
Khalda Petroleum, a joint venture (JV) between the Egyptian General Petroleum Corporation (EGPC) and Apache Corporation, is bringing two new wells into production in June 2025, with an initial estimated total of 5,400 barrels of crude oil per day (bbl/d). Khalda completed drilling operations for the Fox Deep-02 appraisal well.
Johan Sverdrup is the largest oil-producing field in Norway and ranks among the world’s most carbon-efficient oil fields. Johan Sverdrup is the largest oil-producing field in Norway and ranks among the world’s most carbon-efficient oil fields. The field is operated by Equinor, with Aker BP holding a 31.6%
Block 15-1, an oil and gas block with one of the country’s largest reserves and one of the earliest to be developed, is located in the Cuu Long basin in the southern mainland of Vietnam and includes the Black Lion, Golden Lion, Brown Lion and White Lion oil and gas fields, according to the release. 700K Industry Pros can’t be wrong.
Image by Tatyana Ponomareva via iStock Equinor ASA on Monday announced another discovery in the recently started-up Johan Castberg field on Norway’s side of the Barents Sea. “The licensees will consider tie-in of the discovery to the Johan Castberg field”, said Equinor, which operates Johan Castberg with a 46.3
“The margins are shrinking, the fields are getting smaller,” Taufik said. To achieve that, Petronas is looking for opportunities abroad as fields at home shrink. Petronas will also freeze hiring until December 2026, he said. “It will be challenging to meet dividend targets” with current oil prices, he said.
Brent Crude $66.90 +0.65% Natural Gas $3.69 -2.62% Latest Oil Prices SUBSCRIBE SEARCH ARTICLES NEWS CNOOC Announces Seventh Upstream Startup in Chinese Waters This Year by Jov Onsat | Rigzone Staff | Monday, June 09, 2025 | 3:37 AM EST Weizhou 5-3 is expected to reach a peak output of about 10,000 bpd next year. Previously in 2025 CNOOC Ltd.
11-19-00183-CV, 2025 WL 714720 (Tex. 6, 2025, no pet. Apollo , 2025 WL 714720, at *1. The court held that in specialized fields like oil and gas valuation, technical documents showing values or projections require expert testimony to explain their significance and translate them into legally recoverable damages.
The Iraqi Drilling Company (IDC) is making steady progress on its project to drill 15 oil wells in the North Rumaila field , working in coordination with Halliburton and Basra Energy Company Limited (BECL). Drilling operations began on 26 May 2025, targeting the Mishrif formation. By John Lee.
Brent Crude $78.03 +1.73% Natural Gas $4.04 +1.35% Latest Oil Prices SUBSCRIBE SEARCH ARTICLES NEWS BW Opal FPSO Arrives at Barossa Field, Commissioning Underway by Paul Anderson | Rigzone Staff | Thursday, June 19, 2025 | 2:53 AM EST The platform's arrival keeps Barossa LNG on track to start production in the third quarter.
As 2025 enters its second half, ExxonMobil stands at a critical juncture—leveraging its scale, technology, and capital discipline to drive upstream growth, especially in the Permian Basin. From advanced fracking to record production, here are the top 5 strategic priorities that will shape ExxonMobil’s momentum through year-end.
Most of the increase came from Tengiz—the Chevron-led mega-field—where output surged from 813,200 bpd in May to 953,000 bpd in June. In the first half of 2025, Kazakhstan’s crude oil production (excluding condensates) averaged 1.79 million bpd—up 13% from the same period last year.
The resulting pricing mechanism will be economically similar to the mix of prices previously approved for Mako export and domestic gas sales, with 100 percent of the gas produced from the field to be sold at the above-referenced price rather than the usual fixed domestic offtake price, according to the release. Conrad holds a 76.5
billion in revenue for Q2 2025, alongside an adjusted EBITDA of $231 million. Its Cortex automation platform and REX early alert field monitoring system are seeing growing adoption, particularly in U.S. oilfield services sector through technology, disciplined capital allocation, and a sharp eye on future natural gas demand.
Skip to main content The Iberian green industrial opportunity: Carbon capture and storage July 10, 2025 | Article Carbon capture and storage could play a critical role in decarbonizing hard-to-abate industries in the Iberian Peninsula. âEuropean electricity prices and costs,â Ember Energy, accessed April 2025. percent in 2050.
2025 progresses, APA Corporation (NASDAQ: APA) is sharpening its focus on operational efficiency, disciplined capital deployment, and portfolio optimization. Unlocking synergies across field operations, asset clustering, and cost structures. Highlights include: A 22% reduction in breakeven oil price on Delaware acreage.
per share for Q2 2025. Equinor has now completed $2.465 billion toward a 2025 repurchase program of up to $5 billion. “New production from the Johan Castberg field reaching plateau and Halten East contributed. terawatt hours (tWh) in Q2 2025, driven by Dudgeon, Sheringham Shoal and Dogger Bank A. Equinor logged 2.1
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