Caracas and Washington have reached a deal to export up to $2 billion worth of Venezuelan crude to the US, US President Donald Trump said, a flagship negotiation that would divert supplies from China while helping Venezuela avoid deeper oil production cuts....
Saudi oil giant Aramco has announced the launch of its 98-octane gasoline product, which will begin supplying in January 2026 as part of efforts to expand consumer fuel options and diversify its product portfolio without affecting existing products in the market. ...
Oil production in Oman recorded a 0.4 per cent increase by the end of November 2025, reaching approximately 333,940,700 barrels compared to 332,693,800 barrels during the same period in 2024, according to the latest preliminary data issued by the National Centre for Statistics and Information (NCSI)....
Chinese oil major CNOOC, opens new tab said that an offshore oil project in the South China Sea had commenced production. Xijiang Oilfields 24 Block Development Project, located in the shallow water of the Pearl River Mouth Basin, is expected to achieve a plateau production of about 18,000 barrels of light crude oil equivalent per day in 2026. ...
DNO, the Norwegian oil and gas operator, has placed its North Sea oil production with subsidiaries of Exxon Mobil Corporation and Shell effective January 2026 and secured related offtake financing facilities for up to $410 million. ...
BP, Woodside Energy and Chevron led the first US Gulf of Mexico oil and gas lease sale since 2023, securing top bids in an auction raising $279.4 million—about $100 million less than 2023—yet achieving the highest per-acre bids since 2017, according to Reuters analysis findings....
The NNPC/Heirs Energies OML 17 Joint Venture advanced Nigeria’s gas commercialisation and environmental goals with the signing of Gas Flare Commercialisation Agreements under the Nigerian Gas Flare Commercialisation Programme (NGFCP) and approved Non-NGFCP frameworks....
Oman's oil exports recorded a slight increase of 0.1 percent by the end of October 2025, reaching 256,557,800 barrels, compared to 256,318,800 barrels during the same period in 2024....
On the first anniversary of Bapco Modernisation Project, Shaikh Nasser bin Hamad Al Khalifa, Chairman of the Board of Directors of Bapco Energies, inspected the refinery, noting production had risen from 265,000 to 380,000 barrels per day, with a planned increase to 405,000 barrels per day, boosting oil exports by 40 per cent. He also inaugurated Bapco manufacturing facilities....
Eight Opec+ countries reaffirm pausing production increases in early 2026 and maintaining flexibility to restore or extend voluntary cuts. They emphasised cautious monitoring, full compliance with agreed adjustments, JMMC oversight, and compensating for any overproduction since January 2024....
OQ Exploration and Production (OQEP) announced financial results for the nine months ending September 30, 2025, reporting revenues of OMR 633.8 million (about $1.64 billion) and an EBITDA of OMR 471.2 million (approximately $1.23 billion)....
Global oil supply will match demand in 2026 in a reflection of the wider Opec+ group's production increases and higher supply from other producers, an Opec report showed today, marking a further shift from its earlier projections of a supply deficit....
Oman’s oil exports reached approximately 230.1804 million barrels by the end of September 2025, recording a slight decrease of 0.2 per cent compared to the same period in 2024, which totalled 230.5755 million barrels....
Two Indian refiners have purchased 5 million barrels of crude oil from spot markets, seeking alternatives to Russian supplies. Hindustan Petroleum acquired 2 million barrels each of US West Texas Intermediate and Abu Dhabi's Murban crude, while Mangalore Refinery and Petrochemicals bought 1 million barrels of Basra Medium crude....
Suhail Al Mazrouei, Minister of Energy and Infrastructure, affirmed that the Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC) continues to grow and evolve in both the quality of participation and the diversity of discussions, with artificial intelligence (AI) and advanced technology emerging as central themes....
Oil prices have fallen to about $57 per barrel due to a growing imbalance of supply exceeding demand, despite Opec+ increasing production. This decline significantly impacts Mena economies, which heavily rely on oil revenues for their financial stability, according to Mohanad Yakout, Senior Markets Analyst, Scope Markets....
The International Energy Agency (IEA) forecast a global oil market oversupply of 4 million barrels per day (bpd) in 2026, citing the recent increase in crude oil supplies from the Middle East and the Americas. It noted that this increasingly underscores the need for market change....
Suriname is becoming a significant player in global energy, with major offshore oil discoveries and recoverable resources of 2.4 billion barrels of oil equivalent and 12.5 trillion cubic feet of natural gas. Rapid exploration is expected, with production anticipated between 2025 and 2027....
The future of the oil and gas industry was on display at The Oil and Gas Automation and Digitalisation Congress (AUTOMA) 2025, held on October 13-14 in Amsterdam. Experts from O&G companies, EPCs, pipeline operators, refineries, service providers and technology developers explored technologies driving AI-powered transformation, smart infrastructure, digital decarbonisation and autonomous operations....
Algeria's Sonatrach and Saudi company Midad Energy North Africa have signed a production-sharing hydrocarbon contract for the exploration and exploitation of hydrocarbons on the contractual perimeter of Illizi South, located nearly 100 km south of In Amenas....
