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.
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.
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.
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.
The US Energy Information Administration (EIA) forecasts in its October Short-Term Energy Outlook (STEO) that US crude oil production will average 13.5 million barrels per day (mmb/d) in both 2025 and 2026, both slightly higher than the agency’s September forecast.
