Category Archives: News

Saudi Aramco CEO Warns of Potential Global Oil Shortage Supply Concerns: Amin Nasser, CEO of Saudi Aramco, warned that the world could face a future oil shortage due to underinvestment in exploration and production over the past decade. Updated Analysis Nasser highlighted that current investment levels in upstream oil are insufficient to meet future demand. […]

Egypt Plans 480 New Oil Wells with US$5.7 Billion Investment Expansion Initiative: Egypt’s Ministry of Petroleum announced plans to drill **480 exploratory oil wells** over the next five years, backed by an investment of **US$5.7 billion**. Updated Analysis The large-scale drilling programme marks one of Egypt’s most ambitious upstream efforts in recent years. The initiative […]

Ukraine Drone Attack on Russian Gas Plant Disrupts Kazakh Gas Exports Energy Shock: A Ukrainian drone strike hit a major Russian gas processing facility in the Orenburg region, disrupting gas exports from Kazakhstan that rely on the plant’s transit capacity. Updated Analysis The strike, which targeted critical infrastructure deep inside Russian territory, marks one of […]

TotalEnergies Sells Norwegian Oil Assets to Vaar Energi to Cut Debt Divestment Move: TotalEnergies has agreed to sell its interests in several mature oil fields off the Norwegian coast to Vår Energi as part of a broader strategy to reduce debt and refocus on core, higher-return assets. Updated Analysis In a push to strengthen its […]

Austria’s OMV Amends Dividend Policy Following Borouge Chemicals Deal Strategic Adjustment: Austrian energy and chemicals group OMV has revised its dividend policy after finalizing a major deal involving its chemicals joint venture, Borouge. The updated framework reflects OMV’s increased exposure to the high-margin chemicals segment and a balanced approach to shareholder returns and reinvestment. Updated […]

US Crude Exports Rise to 1.5-Year High — Driven by Strong Asian Demand & Refinery Maintenance Export Surge: U.S. crude oil exports have reached their highest level in nearly 18 months, fueled by strong demand from Asian refiners and a temporary slowdown in domestic refinery activity. Updated Analysis As several major U.S. refineries undergo maintenance, […]

China & Russia Fuel Iran’s Oil Production Growth Partnership Revival: Iran is boosting its oil output through renewed strategic ties with China and Russia, helping it counter sanctions and tapping huge reserves like those in the West Karoun fields. These collaborations include investment, technical assistance, and field development. Updated Analysis With Western sanctions continuing to […]

TotalEnergies & KOGAS Sign 10-Year LNG Supply Deal Long-Term Commitment: TotalEnergies and South Korea’s KOGAS have signed a Heads of Agreement (HoA) under which TotalEnergies will supply **1 million tons per year (Mt/yr)** of liquefied natural gas (LNG) to KOGAS for **10 years**, starting at the end of 2027. Updated Analysis This deal strengthens both […]

PM Modi Launches National Deepwater Exploration Mission Energy Self-Reliance: Prime Minister Narendra Modi announced the launch of the “National Deepwater Exploration Mission,” also termed Samudra Manthan, aimed at mapping and tapping India’s offshore oil and gas reserves. The mission seeks to cut import dependence, strengthen energy security, and create domestic opportunities in ocean engineering and […]

EGPC Strikes Three New Exploration Agreements Across Egypt Deal Overview: Egypt’s EGPC signed three new oil & gas exploration agreements totaling approximately USD $121 million. The accords involve Perenco Egypt, Dragon Oil, and Apache Corp., covering offshore and onshore blocks and planned drilling programs aimed at boosting domestic exploration activity. Updated Analysis The agreements signal […]