Exploration & Production (E&P)

MOL Group to operate new onshore exploration block under SOCAR agreement in Azerbaijan

December 18, 2025

(World Oil)– MOL Group and SOCAR have signed a comprehensive onshore exploration, development and production sharing agreement covering the Shamakhi-Gobustan region of Azerbaijan, strengthening their long-standing upstream partnership in the Caspian region. Under the agreement, MOL Group will serve as operator with a 65% working interest, while SOCAR will hold the remaining 35%. The fully termed deal follows a preliminary alignment reached by

CanCambria Energy provides operational update and submits technical operating plan for Kiskunhalas exploration concession

December 12, 2025

(Oil & Gas 360) – Vancouver, BC – December 11, 2025 – CanCambria Energy Corp. (TSXV: CCEC) (FSE: 4JH) (“CanCambria” or the “Company”) is pleased to provide an operational update within the BA-IX Mining License area including preparations for drilling of the Kiskunhalas tight-gas field, via the CC-Ba-E-2 well location. The well is permitted, approved and anticipated to be drilled

OPEC data indicate close oil supply-demand balance in 2026, no glut

December 11, 2025

(Investing) – LONDON – World oil supply will match demand closely in 2026, OPEC data published on Thursday indicated, an outlook contrasting with projections from the International Energy Agency and others of a huge glut. The OPEC+ group comprising the Organization of the Petroleum Exporting Countries, Russia and other allies plans to pause production hikes in the first quarter of 2026,

Oil prices slip lower; U.S. seizure of Venezuelan tanker, IEA forecasts in focus

December 11, 2025

(Investing) – Oil prices fell Thursday, handing back some of the previous session’s gains after the United States’ seizure of a sanctioned oil tanker off the coast of Venezuela triggered fresh fears about supply disruptions, while investors digested new forecasts from the International Energy Agency. At 08:00 ET (13:00 GMT), Brent Oil Futures expiring in February fell 1.1% to $61.53 per barrel and

ExxonMobil raises 2030 plan, lifts upstream outlook without boosting capital

December 9, 2025

(World Oil) – ExxonMobil has raised its corporate outlook through 2030, increasing expected earnings and cash flow growth without raising capital spending, driven by stronger upstream performance, lower operating costs and continued gains from advantaged assets. The supermajor now expects $25 billion in earnings growth and $35 billion in cash flow growth by 2030, up $5 billion for each metric versus

Shell explores partner sale for Brazil offshore Gato do Mato oil project

December 9, 2025

(World Oil) – Shell Plc is looking to sell a 20% stake in a Brazilian oilfield cluster to help fund the multibillion-dollar offshore development, according to people familiar with the process. The UK supermajor agreed to acquire TotalEnergies SE’s stake in the cluster earlier this year through an asset swap, and is looking to raise money while remaining operator, said the

Oil & Gas 360® Premium: Step-by-step guide to explore the valuation dashboards

December 2, 2025

(Oil & Gas 360) – EnerCom, Inc., a leading energy communications and consulting firm, has expanded its Oil & Gas 360® Premium subscription service, offering energy investors and industry professionals access to deeper analytics, valuation tools, and market intelligence designed to support better, faster decision-making. Here’s a quick walkthrough of how to make the most of your Premium access: 1.

Chevron met with Syrian president to discuss oil exploration

December 2, 2025

(Investing)– Syrian President Ahmed al-Sharaa held meetings with delegations from U.S. oil major Chevron and the Syrian Petroleum Company on Tuesday, according to the Syrian state news agency. The discussions focused on potential cooperation in oil and gas exploration along Syrian shores. The Syrian state news agency reported that the talks involved examining possibilities for joint work between the American energy

Ecopetrol to drill up to 430 wells under 2026 investment plan as upstream remains priority

December 1, 2025

(World Oil) – Ecopetrol has approved an investment plan of COP 22–27 trillion ($5.4–$6.7 billion) for 2026, maintaining capital levels similar to those projected for year-end 2025 while prioritizing upstream development and operational efficiencies. Roughly 70% of next year’s budget — about COP 17.2 trillion — will go to exploration, production, refining and transport activities aimed at sustaining output between 730,000

Diversified completes $550 million Canvas Energy acquisition, boosting Oklahoma production

November 24, 2025

(World Oil) – Diversified Energy has completed its previously announced acquisition of privately held Canvas Energy, adding a sizeable operated position in central Oklahoma and increasing the company’s daily production by roughly 13%. The $550 million deal includes operated producing assets and approximately 1.6 million net acres across the state. Diversified said the assets currently produce about 24 MMboed and include an

ADNOC reaffirms $150 billion plan to boost upstream capacity, international expansion

November 24, 2025

(World Oil) – ADNOC will maintain its investments at $150 billion over the next five years as it targets growth in production capacity at home and expands internationally. The company’s board approved the spending plan that’s in line with the previous layout that was announced three years ago. Since then, Abu Dhabi’s biggest oil producer has carved out an international investment

A trend break? EIA sees jump in Alaska oil production in 2026

November 19, 2025

(Oil Price) – Alaska’s production outlook is shifting for the first time in nearly a decade, with the U.S. Energy Information Administration (EIA) on Wednesday projecting that North Slope crude output will rise by some 13% next year as two large fields move into high-volume phases. This would mark the strongest annual increase since the 1980s and a rare break from the long

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