EIA: U.S. Natural Gas Production Hits Record 118.5 Bcf/D in 2025
The U.S. Energy Information Administration reported a record 118.5 Bcf/d of marketed natural gas production in 2025, up 5.3 Bcf/d from 2024. Appalachia, the Permian basin, and the Haynesville shale together supplied 67% of total output and drove 81% of the year‑over‑year growth. Appalachia remained the largest producer at 36.6 Bcf/d, while the Permian contributed half of the growth through associated gas despite lower oil prices. Haynesville’s modest increase reflects its strategic location near Gulf Coast LNG terminals.
Saudi Arabia Drives OPEC Output Higher Ahead of Iran Conflict, Survey Shows
OPEC’s crude output jumped 640,000 barrels per day in February, the steepest rise since June, driven largely by Saudi Arabia’s production increase. The kingdom lifted output by roughly 340,000 bpd to 10.34 MMbpd and later signaled an additional boost of about...
U.S. Begins 86 MMbbl Strategic Petroleum Reserve Release
The Trump administration has initiated an 86 MMbbl drawdown from the Strategic Petroleum Reserve, the first phase of a 172 MMbbl release slated for four months. This move is part of a broader 400 MMbbl coordinated effort with allied nations to ease soaring...
Rex International Reports February Production Across Norway, Oman, Germany
Rex International posted an average February 2026 production of 10,300.1 barrels of oil equivalent per day (boed) from its Norway, Oman and Germany assets. The Brage field in offshore Norway, where Lime Petroleum holds a 33.84% stake, generated roughly 9,510...
FET Launches Remote ROV Control Station for Subsea Operations
Forum Energy Technologies (FET) unveiled a remote control station that lets operators run ROVs from virtually any location using its ICE® Unity platform. The solution bundles advanced control chairs, a Remote‑Connect gateway and VisualSoft streaming software, and can be added...
Petrobras Awards $736 Million Subsea Vessel Contracts to Oceânica
Oceânica Engenharia secured long‑term offshore service contracts with Petrobras valued at about $736 million (R$4.2 billion). The deals cover the SDSV vessels Oceanicasub IV, V, VII, IX and add Oceanicasub VI while renewing Oceanicasub VIII, providing subsea inspection, maintenance and ROV capabilities. Contracts run four...
JERA to Sell Stakes in Australia’s Gorgon, Ichthys LNG Projects
JERA has agreed to sell its equity interests in Australia’s Gorgon and Ichthys LNG projects to MidOcean Energy, pending regulatory and contractual approvals. Despite the divestment, JERA will continue to purchase LNG from both fields to support Japan’s energy security....
Equinor Prepares to Drill Rosebank Field in UK North Sea
Equinor is set to commence drilling on the Rosebank field in the Faroe‑Shetland Channel, marking a major milestone for one of the UK Continental Shelf's largest undeveloped projects. The first phase will involve four production wells and three water‑injection wells,...
TotalEnergies Restarts Libya’s Mabruk Oil Field After Decade-Long Halt
TotalEnergies has resumed production at Libya’s Mabruk oil field, an onshore asset that has been idle since 2015. The restart follows the commissioning of a new 25,000‑barrel‑per‑day processing facility that came online on Feb. 28, 2026. TotalEnergies holds a 37.5% interest...
Assala Energy Reports Hydrocarbon Discovery at Magoga-A Well Offshore Gabon
Assala Energy announced a hydrocarbon discovery at the offshore Magoga‑A well in Gabon's Mutamba Iroru Licence II, with an estimated 8 metres of hydrocarbon‑bearing pay in the Gamba Sandstone formation. The well also sidetracked into the adjacent Atora licence, confirming hydrocarbons within...
Chevron Taps Former TotalEnergies Exploration Leader to Oversee Africa, Americas Portfolio
Chevron has named former TotalEnergies exploration chief Emmanuelle Garinet as Director of Exploration for the Americas and Sub‑Saharan Africa. Garinet brings over 30 years of global experience and will steer discovery programs across key frontier basins in Africa and mature...
Monumental Advances Taranaki Workover Program at Waihapa H1 Well
Monumental Energy Corp. has begun perforating the Waihapa H1 well in New Zealand’s Taranaki basin to tap bypass pay in the Mount Messenger formation. The operation involves seven six‑metre perforation intervals and follows promising results from the nearby Ngaere‑1 well, which...
Deepwater Development Conference to Get Underway with Great Momentum
The Deepwater Development Conference kicked off in Lisbon, highlighting a surge in deepwater activity worldwide. World Oil’s forecast shows a 20.5% rise in deepwater wells across six key countries, far outpacing the 4.8% offshore increase, while production grew 11.2% versus...
Woodside Launches Trion Drilling Campaign in Ultra-Deepwater Gulf of Mexico
Woodside Energy has kicked off the Trion drilling campaign in ultra‑deepwater Gulf of Mexico, targeting 24 subsea wells tied to the floating production unit Tláloc. The FPU can process about 100,000 barrels of oil per day, with output stored on...
Borr Drilling Downs Crews on Gulf Jackups After Regional Hostilities
Borr Drilling Ltd. announced that three of its four jack‑up rigs operating in the Arabian Gulf have been down‑manned following recent regional hostilities. The rigs in Qatar and the United Arab Emirates were placed on standby, and the Arabia III unit...
ADNOC CEO Meets Japan PM Takaichi as Strait of Hormuz Tensions Mount
ADNOC CEO Sultan Al Jaber met Japanese Prime Minister Sanae Takaichi in Tokyo as tensions in the Strait of Hormuz escalated, emphasizing energy security and confirming that the Ruwais LNG export facility remains on schedule. He reassured that construction has not...
Angola Welcomes Oil Price Surge but Warns Rally May Be Temporary
Angola welcomed the recent surge in oil prices, with Brent climbing above $86 a barrel, far exceeding the $61 benchmark used in its 2026 budget. While the rally promises higher state revenues, the government warned that the boost could be...
Norway Warns Gas Production Maxed Out Amid Qatar LNG Shutdown
Norway’s gas producers are operating at near‑full capacity as Europe scrambles for supply after the world’s largest LNG export terminal in Qatar was forced offline by an Iranian drone attack. The shutdown sent European spot gas prices soaring more than...
LNG Shutdowns and Refinery Halts Complicate Global Energy Outlook
Middle‑East hostilities have forced Qatar to shut its flagship LNG export plant and Saudi Arabia to pause operations at its largest oil refinery, while tanker traffic through the Strait of Hormuz has nearly stopped. The disruptions arrive amid a global...
MCM Energy Grows Permian Position with Battalion Asset Purchase and New Financing
MCM Energy Partners completed the purchase of Battalion Oil’s crude oil and natural gas assets in the West Quito Draw area of Ward County, adding roughly 6,207 net acres to its Delaware‑basin portfolio. The deal expands MCM’s operated footprint in...
Hephae Energy Appoints Andy Bruce as President to Support Geothermal Drilling Commercialization
Hephae Energy Technology has appointed industry veteran Andy Bruce as president to drive the commercialization of its ultra‑high‑temperature geothermal drilling and robotics solutions. Bruce brings more than three decades of leadership in downhole drilling, energy services, and M&A across companies...
Pertamina, Halliburton Target Unconventional Fracturing Expansion in Indonesia
Indonesia’s state oil company Pertamina and U.S. service firm Halliburton have signed an MOU to develop unconventional well construction and stimulation across onshore fields. The partnership will evaluate multi‑stage hydraulic fracturing, acid stimulation, advanced cementing and AI‑driven automation to improve...
Shale Giant Diamondback Says Global Oil Glut Fears Are Fading
Diamondback Energy says fears of a global oil glut are receding as resilient demand steadies the market. Recent price action shows U.S. crude futures up more than 15% year‑to‑date, erasing most of 2025’s 20% loss. The company will keep output...
ORLEN Builds 25-MMboe North Sea Portfolio in Ekofisk Area
Polish oil major ORLEN has bolstered its North Sea presence by acquiring a 7.6% interest in the Albuskjell and Vest Ekofisk fields, bringing its total stake in the Tommeliten Gamma field to 62.61%. The three assets, developed under the Previously Produced Fields...
ConocoPhillips Explores $2-Billion Sale of Permian Basin Assets
ConocoPhillips is weighing a $2 billion sale of Permian basin assets located in the Delaware basin, assets it acquired through deals with Concho Resources and Shell. The move is part of a broader portfolio streamlining that followed its $17 billion Marathon Oil...
Chariot to Raise $20 Million to Fund Offshore Angola Oil Production Stake
Chariot Plc announced a $20 million equity placing to help finance the acquisition of a producing oil interest offshore Angola. The deal, in partnership with Shell Trading and Etu Energias, targets Blocks 14 and 14K, which currently produce about 8,000 barrels per day....
Buccaneer Reports Production Gains From East Texas Oil Recovery Pilot
Buccaneer Energy completed an organic oil recovery (OOR) pilot at its Pine Mills field in East Texas, treating one water injector and two producing wells. Post‑treatment production in the pilot zone rose from roughly 15 barrels per day to about 30...
Congo Launches Phase 2 LNG Exports From Nguya FLNG Facility
The Republic of Congo has begun Phase 2 LNG exports from the new Nguya FLNG facility, boosting total project capacity to roughly 3 million metric tons per year. Operated by Eni, the unit was commissioned ahead of schedule and shipped its first...
Canada Backs Carbon Capture Buildout to Secure Oil Sands Future, Energy Minister Says
Canada’s energy minister announced a C$16.5 billion Pathways Alliance carbon‑capture buildout in Alberta’s oil sands, linking the project to a new pipeline deal and a higher industrial carbon price. Six of the country’s largest oil‑sands producers will capture and store CO₂...
Nigeria Marginal Field Dispute Raises Investor Concerns After Dawes Island Court Ruling
A Federal High Court in Nigeria overturned the 2020 revocation of the Dawes Island marginal field licence, reinstating Eurafric Energy Limited’s rights. The ruling challenges the Ministry of Petroleum Resources’ decision not to renew the licence after a decade of...
Elemental Energies Acquires APT to Expand Subsurface and Basin Modeling Capabilities
Elemental Energies announced the acquisition of Applied Petroleum Technology (APT), a specialist geoscience and petroleum geochemistry firm. The deal integrates APT’s basin modeling, geochemical analysis, and digital wellsite tools with Elemental’s existing reservoir and engineering services, creating a full‑life‑cycle subsurface...
MOL Group Enters Libya Offshore in Joint Venture with Repsol and TPAO
MOL Group has secured a 20% stake in Libya’s O7 offshore block through a joint venture with Repsol and Turkey’s TPAO. The block covers over 10,300 sq km in water deeper than 1,500 m, awarded in Libya’s first licensing round in 17 years....
Harbour Closes $3.2-billion LLOG Deal, Expands Deepwater Position in U.S. Gulf
Harbour Energy completed a $3.2 billion acquisition of LLOG Exploration, giving it a fully operated deepwater portfolio in the U.S. Gulf of America. The deal adds roughly 36,000 boe/d of production, with a target of 65,000‑70,000 boe/d by 2028 through ongoing development. Financing...
North Sea’s First Methane-Certified ‘Grade A’ Gas Project Launched by ONE-Dyas
ONE‑Dyas has launched the N05‑A development in the Dutch‑German North Sea, becoming the region’s first offshore gas project to earn MiQ Grade A certification for methane emissions. The field, part of the GEMS area, holds up to 50 billion cubic metres of...
JERA Closes $1.5-billion Haynesville Shale Acquisition in Louisiana
JERA has closed a $1.5 billion purchase of the South Mansfield asset in the Haynesville shale, securing full ownership of a core gas field in western Louisiana. The acquisition gives JERA direct access to a supply corridor that feeds Gulf Coast...
Partners Advance Vaca Muerta-Linked Argentina LNG Export Development
YPF, Eni and XRG have signed a binding joint development agreement to move the Argentina LNG project forward, leveraging gas from the Vaca Muerta shale play. The plan calls for two floating LNG units delivering a combined 12 million tonnes per year...