The EIA expects U.S. crude production to edge down to 13.5 MMbbl/d in 2026, ending four years of growth as lower prices and regional declines offset gains in the Permian. SourceContinue Reading
Dana Gas has confirmed a significant 15–25 Bcf gas discovery at the North El-Basant 1 exploratory well in Egypt’s onshore Nile Delta. The find supports the company’s $100 million drilling program, with production expected to exceed 8 MMscf/d once tied into the national gas network. SourceContinue Reading
Chevron has tapped TechnipFMC to supply next-generation Subsea 2.0® production systems—including the first 7-inch subsea tree series—for the Gorgon Stage 3 expansion offshore Australia, reinforcing a two-decade partnership. SourceContinue Reading
Brazilian oil production is rebounding after platform outages slashed more than 300,000 bpd in November. ANP data shows volumes already recovering, underscoring how output swings from mega-FPSOs can complicate global supply forecasts as OPEC, IEA and major traders diverge on the 2026 market outlook. SourceContinue Reading
SLB and Shell have signed a new collaboration agreement to co-develop AI-driven digital solutions aimed at boosting upstream efficiency. The partnership will use SLB’s Lumi™ platform to unify data and accelerate automation across subsurface, drilling and production workflows. SourceContinue Reading
DNO has restarted drilling in the Kurdistan region after surpassing 500 MMbbl of cumulative production at the Tawke license. Two rigs will drill eight wells through 2026 as the operator targets increasing gross output to 100,000 bopd across the Tawke and Peshkabir fields. SourceContinue Reading
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. SourceContinue Reading
bp has started up the Atlantis Drill Center 1 expansion in the Gulf of America two months ahead of schedule, adding 15,000 boed and marking its seventh major project startup of 2025.` SourceContinue Reading
The U.S. Interior Department has restarted offshore oil and gas leasing, closing its first mandated Gulf lease sale under the One Big Beautiful Bill Act. The sale drew nearly $280 million in high bids, signaling renewed industry confidence and a shift toward expanded offshore development. SourceContinue Reading
Africa will need an estimated $375 billion in upstream and midstream investment over the next decade to develop its natural gas sector, according to the Society of Petroleum Engineers, as demand rises and infrastructure gaps persist. SourceContinue Reading
