Industry & Analysis
News
December 16, 2025
Brent crude slipped below $60/bbl for the first time since May, as rising global supply continues to outpace demand. A growing surplus outlook for 2026, combined with easing geopolitical risk premiums, is adding fresh pressure to oil markets.
News
December 15, 2025
Chevron has lowered prices for Venezuelan crude sold to U.S. refiners after a tanker seizure in the Caribbean added pressure to an already weak Gulf Coast market. The move comes amid heightened U.S. enforcement actions and softer global oil prices.
News
December 15, 2025
The Middle Eastern oil market has weakened in recent weeks on concern that regional supplies will outstrip demand, adding to signs of a softening global picture that’s weighed on benchmark crude futures.
News
December 12, 2025
API praised the House for passing bipartisan permitting reform bills that streamline pipeline reviews and federal approvals, calling it a key step toward faster, more efficient energy infrastructure development.
News
December 11, 2025
Equinor and partners have approved a NOK 4 billion investment to develop the Isflak discovery—the first tieback to the Johan Castberg hub—adding 46 MMbbl and targeting first oil in 2028 as the Barents Sea project ramps up for long-term growth.
News
December 10, 2025
Africa will need an estimated $375 billion in upstream and midstream investment over the next decade to develop its natural gas sector, according to the Society of Petroleum Engineers, as demand rises and infrastructure gaps persist.
News
December 10, 2025
Chevron CEO Mike Wirth says the company is in discussions with the Trump administration to ensure continued compliance with U.S. sanctions while maintaining operations in Venezuela, where Chevron remains the last U.S. oil major operating.
News
December 09, 2025
ExxonMobil has raised its 2030 outlook, projecting stronger upstream earnings and cash flow growth without increasing capital spending. The updated plan highlights accelerated production growth in the Permian, Guyana and LNG, deeper cost reductions, and earlier-than-expected emissions targets.
Webcast
Smarter Upstream Decisions Start Here: Live Demo of World Oil AI
December 16, 2025
World Oil
Join the World Oil editorial team for an exclusive demonstration of World Oil AI, your new AI-powered intelligence engine built specifically for upstream professionals.
In this webcast, you’ll see how World Oil AI is transforming research and analysis across the upstream sector. Domain tuned on decades of authoritative World Oil content, the system enables you to:
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Whether you work in engineering, field operations, subsurface, technology development, or asset management, this session will show you how World Oil AI accelerates your workflow by putting expert-level upstream insight at your fingertips—anytime you need it.
News
December 05, 2025
PTTEP has approved a $33.3 billion five-year plan and a $7.7 billion budget for 2026, targeting production growth, accelerated global project development, and major decarbonization initiatives as Thailand works to strengthen long-term energy security.
News
December 05, 2025
EIA and Macquarie offer starkly different views on 2026 oil and gas prices, with both warning of oversupply but diverging on how steep the decline may be.
News
December 05, 2025
Rystad Energy says digitalization could save oil and gas operators more than $320 billion in five years, as drilling optimization, robotics, predictive maintenance and new tech partnerships reshape the OFS sector.
News
December 04, 2025
The American Petroleum Institute (API) is praising the Trump administration’s proposal to revise U.S. Corporate Average Fuel Economy (CAFE) standards, arguing the move will preserve consumer choice and support stable domestic energy demand.
News
December 04, 2025
Chevron is continuing routine flights to Venezuelan oil sites despite U.S. airspace warning, with the company stressing full regulatory compliance and prioritizing worker safety amid heightened regional navigation risks.
News
December 04, 2025
Chevron has unveiled a 2026 capex budget of $18–$19 billion, with major spending directed toward U.S. shale, offshore growth in Guyana and the Gulf, and lower-carbon investments.
News
December 04, 2025
Saudi Aramco has slashed its Arab Light crude price to the lowest level since 2021, signaling mounting global oversupply and softer demand as OPEC+ prepares for a slower start to 2026.
News
December 03, 2025
The National Petroleum Council has issued two major reports urging urgent federal permitting reform and tighter gas-electric coordination to safeguard U.S. energy reliability as demand surges. DOE Secretary Chris Wright welcomed the recommendations.
News
December 02, 2025
Africa’s upstream sector is gaining investor momentum, with regulatory reforms, new licensing rounds, and gas-focused policies improving above-ground attractiveness across key markets from Angola to Namibia and Nigeria.
News
December 01, 2025
Iraq is moving to reshape ownership of the giant West Qurna-2 field, launching direct talks with select U.S. oil companies to acquire Lukoil’s sanctioned stake. Baghdad says a U.S. operator would strengthen market stability and deepen energy ties with Washington.
News
December 01, 2025
Harbour Energy will cut 100 more UK jobs after the government retained the Energy Profits Levy through 2030. The operator says North Sea assets are struggling to attract capital under the 78% tax burden, following earlier workforce reductions.
