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World Oil News
The global energy community is set to converge in Dubai on December 10 for a landmark event dedicated to shaping the future of natural gas across the region. The Middle East Gas Conference 2025 will serve as a strategic touchpoint for aligning industry priorities on gas-to-power, while maximizing the region’s economic potential. Source
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The U.S. Senate on Tuesday voted to narrowly approve President Trump’s $3.3 trillion tax and spending package dubbed the ‘One Big Beautiful Bill.’ U.S. energy associations including the API, IPAA, NOIA and EWTC issued separate statements acknowledging the Senate’s decision as a victory for the U.S. oil and gas industry. Source
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LNG Canada has successfully shipped the first export cargo from its newly-constructed facility located in British Columbia, Canada. The plant is the first-of-its-kind in Canada with an annual production capacity of up to 14 million tonnes of LNG. Source
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Momentary price spikes aside, the recent conflict and now uneasy ceasefire between Israel and Iran has done little to alter the trajectory of global oil markets, according to a new analysis by S&P Global Commodity Insights. Source
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Equinor and Aker BP are investing NOK 13 billion (~$1.29 billion USD) in the third phase of Johan Sverdrup, one of the world’s most carbon-efficient oil fields. New subsea infrastructure will increase recovery by 40–50 million barrels of oil equivalent (boe). Source
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Total U.S. liquids production managed a record-high of 20.83 million bpd in April, up roughly 50,000 barrels from the previous month, according to the Energy Information Administration’s latest Petroleum Supply Monthly report released on Monday. Source
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Russia’s sanctioned Arctic LNG 2 project raised production to record levels during the last days of June as the facility appears to have resumed loading cargoes. The facility located above the Arctic Circle is key for Russia’s ambition to triple LNG production by 2030. Source
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According to Alberta Energy Regulator data, Cenovus Energy Inc.’s Christina Lake oil sands site vented the most natural gas in more than four years into the atmosphere when a wildfire forced an emergency shutdown of the facility in May. Source
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Argentina must give up its controlling stake in signature energy company YPF SA within two weeks after a New York judge sided with litigators in a $16 billion judgment, delivering a setback to President Javier Milei before crucial midterm elections. Source
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Danos Operations Services has been awarded a contract to provide production services for Beacon Offshore Energy’s new deepwater facility in the Gulf of America/Gulf of Mexico — the Shenandoah floating production system. Source
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