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World Oil News
Argent LNG has advanced permitting for its proposed 25-MMtpa Port Fourchon export project, marking another step forward for U.S. LNG capacity growth. Source
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ADNOC has unveiled a $55-billion project pipeline as the UAE moves to accelerate upstream growth following its exit from OPEC, signaling a major push to expand capacity and capture global demand. Source
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OPEC+ has agreed to a modest production increase following the UAE’s exit, though supply remains constrained by ongoing disruptions in the Strait of Hormuz. Source
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The EPA will allow limited routine flaring at new oil wells beyond the 2026 phaseout deadline, offering operators added flexibility amid ongoing infrastructure constraints. Source
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Dana Gas has fully settled overdue receivables in Egypt while reporting increased production in the Nile Delta, supported by ongoing investment and drilling activity. Source
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bp is reviewing its UK North Sea upstream assets and considering potential divestments as part of a broader strategy to streamline its portfolio and reduce debt. Source
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Occidental CEO Vicki Hollub will retire June 1, with COO Richard Jackson set to take over leadership. Source
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A new TIPRO report shows Permian and Texas oil production hitting record highs while flaring intensity drops sharply—highlighting how infrastructure gains are reshaping emissions trends. Source
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SM Energy has completed a $950 million sale of South Texas assets, marking a major step in its ongoing portfolio repositioning. Source
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ConocoPhillips is excluding Qatar volumes from guidance as Middle East disruption impacts output, while Lower 48 operations continue to drive production. Source
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