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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. The oil is light crude.
Calgary, Alberta (April 23, 2025) Enverus Intelligence Research (EIR), a subsidiary of Enverus, the most trusted energy-dedicated SaaS company that leverages generative AI across its solutions, is releasing its summary of 1Q2025 upstream M&A activity and outlook for the rest of the year. energy producers, and more than 40,000 suppliers.
Lower upstream spending amid falling oil prices is set to slow the growth in oil supply from producers outside the OPEC+ pact this year and next, OPEC said in its monthly report on Wednesday. In 2026, liquids supply from non-OPEC+ producers is expected to rise by another 800,000 bpd, also down by 100,000 bpd from
Upstream natural gas spending is set to maintain the levels seen in 2024. Together, upstream oil and gas investment for 2025 is forecast at less than US$570bn, a decline of around 4%. Saudi Arabia’s upstream oil and gas investment is the highest in the Middle East, and is set to reach US$40bn in 2025, nearly 15% higher than in 2015.
upstream growth, driven by advantaged assets like the Permian Basin, is central to the companys long-term performance. Upstream Results: Permian Power ExxonMobils U.S. upstream earnings jumped to $1.87 Upstream Results: Permian Power ExxonMobils U.S. upstream earnings jumped to $1.87 billion in Q1 2024.
Ahara marks QatarEnergy’s entry into Algeria’s upstream sector, QatarEnergy said separately. Algeria’s national oil and gas company Sonatrach SpA has the majority stake of 51 percent in accordance with Algerian law. For TotalEnergies the license expands a footprint that already includes producing licenses.
Enverus Intelligence Research (EIR), a subsidiary of Enverus, an energy-dedicated SaaS company, released on April 23 its summary of 1Q2025 upstream M&A activity and outlook for the rest of the year. On top of that, upstream companies will now have to navigate significant headwinds from falling oil and equity values.
(Oil Price) –BP chair Helge Lund has informed the board that he would be stepping down from the role most likely during 2026, as activist investor Elliott continues to demand more changes at the UK-based supermajor. The announcement is seen as a victory for Elliott Management, the activist investor pushing for changes at BP.
“Argentina LNG is a large-scale integrated, upstream and midstream gas development project designed to develop the resources of the onshore ‘Vaca Muerta’ field and serve international markets”, Eni added. The capacity is planned to grow to up to 30 million tons per annum (MMtpa) by 2030.
The estimate for full-year 2026 demand growth is also close to the 2025 forecast and to last months already slashed projections760,000 bpd. On Wednesday, OPEC also cut its forecast of liquids supply from OPEC+s rivals including the United States, due to lower upstream spending amid falling oil prices. tariff offensive in early April.
(World Oil) – Africas national oil companies (NOC) are moving beyond operating as state-representatives by transforming themselves into competitive upstream players. mtpa Coral South FLNG project has been operating since 2022 while ExxonMobil plans to make FID on Rovuma LNG in 2026.
Upstream earnings increased by $1.1 billion of share repurchases, consistent with its annual $20 billion share-repurchase program through 2026. billion from a year earlier to $6.8 billion, thanks to continued growth in the Permian and Guyana, as well as structural cost savings. Exxons net production jumped by 20% to 4.6
Usarn IA y comenzarn operaciones en 2026. El contrato contempla la perforacin de 18 pozos en un periodo de tres aos, iniciando en 2026, utilizando un enfoque integral de servicios habilitados por inteligencia artificial (IA). SLB perforar 18 pozos en Trion, proyecto conjunto entre Woodside y Pemex en aguas ultra-profundas.
The Project Greensand partners - diversified British company INEOS, London-based Harbour Energy PLC and Danish national oil and gas company Nordsøfonden - expect the ship and the other CCS components to become fully operational by the end of 2025 or early 2026.
El ajuste, contenido en los Precriterios de Poltica Econmica 2026 , refleja un enfoque prudente de la Secretara de Hacienda ante el dbil desempeo observado en los primeros meses del ao. La proyeccin para 2026 apenas se eleva a 1.775 millones de bpd , sujeta al xito de proyectos estratgicos de exploracin y desarrollo de nuevos campos.
Pech advierte que, si esta tendencia continúa, el impacto alcanzará 2026 y se extenderá hasta 2030. Las deudas de Pemex también presionan: vencimientos por más de 6,400 millones de dólares en 2025 y 18,000 millones en 2026.
Los ajustes laborales que planea implementar Petróleos Mexicanos (Pemex) en 2025 y 2026 podrían traducirse en despidos masivos de personal técnico esencial para la operación de la industria petrolera, denunció Pablo López Figueroa, secretario de Trabajo del Sindicato Unión Nacional de Técnicos y Profesionistas Petroleros (UNTyPP).
(NYSE: AMPY) (Amplify or the Company) today announced an amendment to the existing terms of its previously disclosed Agreement and Plan of Merger with Juniper Capitals (Juniper) upstream Rocky Mountain portfolio companies. Weighted Average Floor Price ($) $ 3.50 $ 3.58 $ 3.56 Weighted Average Floor Price ($) $ 70.00
Repsol report 458 millones de euros entre enero y marzo en su Upstream, un 3,6% ms que en el mismo periodo del ao anterior, con una produccin total de 540 mil barriles equivalentes de petrleo al da Repsol anunci sus finanzas del primer trimestre de 2025, donde obtuvo un resultado neto de 366 millones de euros, lo que representa un 62.2%
La plataforma comenzar operaciones en 2026. Con un valor estimado de 330 millones de dlares, el contrato incluye cinco extensiones opcionales de un ao, adems de movilizacin, modernizacin planificada y servicios de perforacin integrados.
Moodys estim que la produccin total de Pemex incluyendo condensados solo podra aumentar 1% anual en 2025 y 2026 , ya que las nuevas inversiones tardarn en reflejar resultados. Si no se anuncian proyectos adicionales en 2025, la produccin continuar en declive en los siguientes dos o tres aos.
Production and Capital Investment Looking ahead, Cenovus forecasts an upstream production range of 805,000 to 845,000 barrels of oil equivalent per day (BOE/d) for 2025, representing a 4% increase compared to 2024 Cenovus Energy. which have been instrumental in executing Cenovus’s drilling programs. billion to $5.0 billion in 2025.
Ballymore reinforces the companys strategy to achieve 300,000 net barrels of oil equivalent per day (boepd) from the region by 2026. Strategic Importance of Ballymore Chevron has long held a dominant position in the Gulf of America.
Beginning in 2026, annual revenue under the Lease Agreement is expected to total $27.4 Rapid Growth of Data Analytics Segment: The Lease Agreement is expected to deliver approximately $14 million in high-margin rental revenue to Flotek during 2025, representing a 60% increase in segment revenue, as compared to 2024. ProFrac Holding Corp.
Afirm que, de mantenerse la tendencia, la deuda alcanzar los 20 billones de pesos al cierre de 2026, lo que equivale a 10 Fobaproas. Moreira tambin critic el manejo econmico general del gobierno federal, destacando que la deuda interna del pas se duplic durante el sexenio de Lpez Obrador, pasando de 6.7 billones de pesos.
Nasser, Aramcos president and CEO, noted that Aramco has made significant strides during the year on a number of projects and initiatives aimed at reinforcing its upstream pre-eminence, further integrating its downstream portfolio and developing the new energies business.
billion in 2026 and $1.1 $1.2 In light of low current oil prices, Strathconas updated long-range plan reflects a deferral of the sanction of the Lindbergh Phase 2 expansion project from 2026 to 2027 to prioritize near-term free cash flow generation. billion in 2026 and $1.1 Capital expenditures are expected to average $0.9 $1.0
BP achieved upstream plant reliability of 95.4%, one of its best on record, and refining availability at 96.2%. Hess Q1 2025 Performance Hess Corporation delivered a solid operational quarter in Q1 2025, marked by steady oil and gas production, continued development progress in Guyana, and significant investments in key upstream assets.
MMBbl/d, maintaining stable levels through 2026. 2025 Strategy and Outlook Alaska's Willow Project Development: Construction and drilling will accelerate throughout 2025, with the first production expected in 2026. Global Oil Demand Growth (2025-2026): 2025: Expected to grow by 1.3 2026: Demand is projected to increase by 1.1
“The potential impact on production levels in 2025 and 2026 of the decline in upstream E&P oil investments will constitute a challenge, despite the industrys continued focus on efficiency and productivity improvements,” the report said. Last month, it forecast growth of 400,000 bpd.
“The potential impact on production levels in 2025 and 2026 of the decline in upstream E&P oil investments will constitute a challenge, despite the industrys continued focus on efficiency and productivity improvements,” the report said.
*US upstream producers continue to preach capital discipline despite president Trumps drill, baby drill rhetoric. And both official forecasts from the US governments Energy Information Administration (EIA) and MEES analysis of corporate filings suggests more records to come for 2025 and 2026.
While some midstream operators have announced new projects in recent months, others are waiting to see how the market volatility and demand uncertainty will affect upstream companies in the major U.S. billion in total is expected to be in service by the end of 2026. shale basins.
The permit decline signals a production slowdown likely impacting 2026 output, as public and private companies alike throttle back drilling plans. Supreme Court ruled 8-0 to limit environmental reviews for energy projects, barring agencies from assessing upstream/downstream impacts under NEPA. Read more U.S.
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