Equinor strikes gas in North Sea wildcat wells, opening new development potential
(World Oil) – Equinor and Aker BP have announced a new gas and condensate discovery in the North Sea after drilling two exploration wells at the Lofn and Langemann prospects, marking a promising start for Production Licence 1140.
Equinor strikes gas in North Sea wildcat wells, opening new development potential
(World Oil) – Equinor and Aker BP have announced a new gas and condensate discovery in the North Sea after drilling two exploration wells at the Lofn and Langemann prospects, marking a promising start for Production Licence 1140. The wildcat wells—15/5-8 S and 15/5-8
Germany scales back offshore wind auctions after latest flop
(Oil Price) – Germany moved to reduce the capacity it will auction in
Digitalization may unlock $320 billion in oil and gas savings by 2030, analysts say
(World Oil) – The oil and gas industry could capture more than
Heavy crude prices could surge as U.S.-Venezuela tensions escalate
(Oil Price) – A loss of Venezuelan oil production in case of a
Germany scales back offshore wind auctions after latest flop
(Oil Price) – Germany moved to reduce the capacity it will auction in its offshore wind tender in 2026, following the flop in the latest auction without a single bid made. The German Parliament approved legislation narrowing the capacity in the 2026 tender
Digitalization may unlock $320 billion in oil and gas savings by 2030, analysts say
(World Oil) – The oil and gas industry could capture more than $320 billion in savings over the next five years by accelerating digital adoption across core operational domains, according to new analysis from Rystad Energy. The findings underscore how digital
Heavy crude prices could surge as U.S.-Venezuela tensions escalate
(Oil Price) – A loss of Venezuelan oil production in case of a U.S. military intervention will materially impact global benchmark prices as the market will have to replace Venezuela’s heavy crude—the bulk of Caracas’ crude exports, according to Rystad Energy. Venezuela is
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Weekly Inventories
U.S. crude oil inventories increase by 0.6 million barrels
Weekly Crude Oil Storage as of November 28, 2025 U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) increased by 0.6 million barrels from the previous week. At 427.5 million barrels, U.S. crude oil inventories are 3%
Weekly Gas Storage: Inventories decrease by 12 Bcf
Natural Gas Inventories as of November 28, 2025 The EIA has released its natural gas inventory report, showing a net decrease of 12 Bcf as of November 28, 2025. Working gas in storage was 3,923 Bcf as of Friday, November
U.S. rig count increased by 5 is at 549
This week’s Baker Hughes Rig Count shows that the U.S. increased by 5 last week, resulting in a total count of 549 rigs. Canada had an increase of 3 over last week, resulting in a total Canadian count of 191
