Industry & Analysis
News
October 29, 2025
The Trump administration is ruling out plans to auction offshore oil and gas leases along the U.S. East Coast, scaling back its proposed five-year leasing program after opposition from coastal states and environmental groups.
News
October 28, 2025
The Railroad Commission of Texas is expanding outreach with new bi-monthly virtual listening sessions, giving Texans a chance to engage directly with state energy regulators and RRC experts.
Article
October 2025
In this month’s First Oil, Editor-in-Chief Kurt Abraham recaps the 2025 Gulf Energy Information Excellence Awards and the technologies driving upstream innovation. He also examines Trump’s Arctic drilling decision, the latest U.S. energy developments, and industry highlights from Houston to Aberdeen in a year of transition and technical progress.
Article
October 2025
The Middle East’s oil and gas industry is undergoing one of its most significant transformations in decades. From record upstream investments and LNG expansion to AI-driven efficiency and strategic infrastructure monetization, national oil companies are redefining the region’s energy future.
News
October 27, 2025
UK-based energy services provider Petrofac has applied to enter administration after a failed restructuring deal and the cancellation of a major North Sea contract, placing more than 7,000 jobs worldwide at risk.
News
October 24, 2025
Nomura Holdings says India’s shift away from discounted Russian crude will be offset by potential lower U.S. tariffs under a new trade deal, easing the impact on growth. Economists expect reduced levies to boost India’s export competitiveness while managing inflation risks from higher oil prices.
News
October 23, 2025
The Trump administration has reopened Alaska’s Arctic National Wildlife Refuge for oil and gas leasing, reversing a Biden-era ban and paving the way for a winter lease sale. Interior Secretary Doug Burgum said the move will expand U.S. fossil fuel production across 1.56 million acres of the Arctic coastal plain.
News
October 23, 2025
U.S. sanctions targeting Russian oil producers Rosneft and Lukoil are unsettling China’s oil industry, which relies on Moscow for up to 20% of its crude imports. The measures, part of the Trump administration’s wider energy sanctions, raise fears of supply disruptions and secondary penalties.
News
October 22, 2025
The American Petroleum Institute (API) is urging Congress to reconsider the Nationwide Consumer and Fuel Retailer Choice Act of 2025, arguing that the proposed E15 biofuel legislation no longer reflects current market realities. API warns that new state mandates and federal rule changes threaten fuel stability and investment certainty.
News
October 22, 2025
bp and Japan’s JERA are winding down their U.S. offshore wind joint venture, JERA Nex bp, citing an unfavorable policy environment under the Trump administration. The decision halts the planned 2.5-GW Beacon Wind project off Massachusetts amid a broader industry pullback.
News
October 22, 2025
The U.S. Department of Energy has issued the final non-FTA export authorization for Venture Global’s CP2 LNG terminal in Cameron Parish, Louisiana. The approval enables exports to non-FTA countries and supports the U.S.’s advancing role in global LNG markets.
News
October 22, 2025
U.S. oil and gas mergers and acquisitions dropped to $9.7 billion in Q3 2025, marking the third straight quarterly decline, according to Enverus Intelligence Research. Analysts cite persistently low crude prices and fewer private-equity exits.
News
October 21, 2025
The Trump administration will purchase 1 MMbbl of crude oil to begin replenishing the U.S. Strategic Petroleum Reserve (SPR), marking the first step toward restoring the nation’s emergency supply following years of drawdowns.
News
October 21, 2025
The International Monetary Fund (IMF) says Saudi Arabia’s fiscal balance and current account depend heavily on oil price recovery and higher crude output. A 1 MMbpd rise in production could lift the kingdom’s fiscal balance by 3.2% of GDP as Vision 2030 spending expands.
News
October 21, 2025
Halliburton reported $5.6 billion in Q3 2025 revenue, led by North America growth and steady international results. Adjusted earnings rose to $496 million as the company emphasized cost discipline, technology leadership and shareholder returns.
News
October 17, 2025
Oil prices are on track for a third consecutive weekly loss as global oversupply forecasts and renewed U.S.-China trade tensions weigh on market sentiment. Brent crude traded near $60 a barrel, with analysts citing slowing demand growth and rising inventories as key factors.
News
October 16, 2025
India’s foreign ministry said it was unaware of any conversation between Prime Minister Narendra Modi and President Donald Trump after the U.S. leader claimed Modi had agreed to stop Russian oil purchases. Despite U.S. pressure and new tariffs, India maintains it will continue buying Russian crude.
News
October 15, 2025
TotalEnergies expects third-quarter profit and cash flow to rise up to 5% year-on-year, supported by higher oil and gas production and stronger European refining margins. Hydrocarbon output grew 4% to 2.5 MMboed, offsetting lower crude prices.
News
October 14, 2025
Santos Chief Financial Officer Sherry Duhe has resigned after one year, following the collapse of a proposed $19 billion merger with ADNOC. Duhe will be replaced by deputy CFO Lachlan Harris as the company refocuses on LNG growth projects.
News
October 14, 2025
The International Energy Agency forecasts global oil supply will exceed demand by nearly 4 million barrels per day in 2026—its largest annual surplus on record. The build-up, driven by revived OPEC+ output and rising non-OPEC production from the U.S., Brazil, and Guyana, is already visible in tanker storage volumes.
