Industry News

Chevron, Shell and NewMed Energy sanctioned pre-construction works for the delayed Aphrodite natural gas field development offshore Cyprus.

Exports are estimated to have risen four percent from last year to 429 million tons.

Oil rebounded as stalled Ukraine peace talks and global tensions offset oversupply concerns.

Freezing weather gripping France drove up power demand to the highest since February.

The Nigerian National Petroleum Co. is discussing $2 billion in financing from Nexus Alliance, according to people with knowledge of the matter.

North America dropped 64 rigs week on week, according to Baker Hughes' latest North America rotary rig count.

The project is on track for commercial startup 'early 2026'.

Developers Kimmeridge and Mubadala expect to sanction the project in the first quarter of 2026 and achieve startup in 2030.

'Geopolitics are adding short term volatility and keeping prices supported, but persistent oversupply, rising inventories, and weakening demand signals are capping any real upside', said Naeem Aslam, Chief Market Analyst at Zaye Capital Markets.

The U.S. regular gasoline retail price and the U.S. on-highway diesel fuel retail price will both drop from 2025 to 2026, according to the EIA's latest STEO.

Australia's Woodside signed an agreement to supply Turkiye's state-owned BOTAS about 500,000 metric tons a year of LNG for nine years, mostly from the under-construction Louisiana LNG.

'Both the Johan Castberg and Balder fields are expected back at plateau production by the end of December'.

Ukraine said it attacked the Syzran oil refinery in Russia's southern Samara region for the second time this month, causing a fire at the site.

Other suitors for the 50 percent stake in Singapore Refining Co include commodity giants Glencore and Vitol, according to people familiar with the matter.

Oil fell sharply as traders weighed Ukraine peace talks that could unlock more Russian supply.

New Era secured a deal to buy Sharon AI's 50 percent stake in their equally owned Texas Critical Data Centers project, an under-development power and AI data center site in Ector County.

Russia's ambitions to triple its annual liquefied gas production have been pushed back by several years amid international sanctions, according to Deputy Prime Minister Alexander Novak.

Hafnia consummated the purchase of nearly 14 percent of TORM from Oaktree Capital for $311.43 million.

'The licensees will assess the discovery with a view toward a potential production well from the same location, with production over Tyrihans to the Kristin installation'.

Last month's gas production exceeded the Norwegian upstream regulator's forecast by 2.1 percent and rose 7.3 percent from October, according to official preliminary monthly production figures.