Industry & Analysis
News
December 31, 2025
Venezuela’s oil output in the Orinoco Belt has fallen 25% as U.S. enforcement efforts block exports, forcing PDVSA to shut wells amid limited storage capacity.
News
December 31, 2025
Oil prices finished 2025 with their sharpest annual decline since 2020, as WTI fell 20% amid surging global supply, OPEC+ output increases and record U.S. production. Market watchers expect oversupply to persist into 2026, despite geopolitical risks and upcoming OPEC+ policy decisions.
News
December 31, 2025
African producers are turning regulatory reform into real upstream gains. From Angola’s $70B project pipeline to Nigeria’s accelerated licensing and Congo’s LNG expansion, policy shifts are reshaping investment across the continent.
News
December 31, 2025
Gabon is advancing major energy-sector reforms aimed at boosting upstream investment, separating its hydrocarbons framework into new oil and gas codes and unlocking deepwater potential. Growing production, offshore exploration agreements with bp and ExxonMobil, and LNG megaprojects position Gabon as a rising player in Africa’s oil and gas landscape.
News
December 30, 2025
Venezuela has begun shutting oil wells in the Orinoco Belt as U.S. blockade measures halt crude flows, forcing PDVSA to cut production by an estimated 25% due to storage constraints.
News
December 29, 2025
U.S. ports are receiving Venezuelan crude despite a partial maritime blockade, with several Chevron-chartered tankers successfully unloading cargo and more en route. The activity highlights Chevron’s continued ability to move oil under its U.S. license as geopolitical tensions escalate and foreign vessels remain stalled offshore.
News
December 29, 2025
Oil prices rose Monday, with Brent near $62 and WTI above $58, supported by stalled Ukraine peace talks and China’s pledge to boost fiscal spending and demand in 2026.
News
December 26, 2025
bp will sell a majority stake in Castrol in a $10.1-billion deal while retaining 35% ownership—reshaping capital allocation as it sharpens upstream and LNG focus.
News
December 23, 2025
Libya has launched a 22-block bid round with revised fiscal terms designed to lure global energy investors, but analysts warn that political and infrastructure risks could determine whether the country’s upstream revival gains lasting traction.
News
December 22, 2025
NOIA urged the administration to lift a pause on offshore wind construction, saying national security reviews are already in place and delays could hurt jobs and U.S. energy competitiveness.
News
December 20, 2025
The Texas Railroad Commission assessed more than $1.1 million in enforcement penalties against oil and gas operators, approving fines tied to compliance and default orders.
News
December 18, 2025
NOIA welcomed House passage of the SPEED Act but urged the Senate to strengthen permitting reform to avoid new uncertainty for U.S. energy investment.
News
December 18, 2025
TC Energy praised House passage of the SPEED Act, saying streamlined federal permitting would accelerate energy infrastructure projects and strengthen U.S. energy security.
News
December 19, 2025
TIPRO praised House passage of the SPEED Act, saying streamlined NEPA permitting would accelerate oil and gas projects, boost energy security and support growing U.S. power demand.
News
December 18, 2025
The U.S. House has passed the bipartisan SPEED Act, advancing sweeping federal permitting reform aimed at streamlining NEPA reviews and accelerating energy and infrastructure projects. Industry groups are now urging swift Senate action in 2026.
News
December 16, 2025
The Railroad Commission of Texas has named longtime regulator Mark Evarts as director of its Oversight and Safety Division, strengthening leadership over pipeline safety and gas market oversight statewide.
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.
