During a Monday press call previewing API’s 2026 State of American Energy event, API President and CEO Mike Sommers framed Venezuela as both a cautionary tale and a long-term opportunity—one that will take time, capital and policy reform to meaningfully affect global balances. SourceContinue Reading
U.S. President Donald Trump said he is inclined to exclude ExxonMobil from efforts to revive Venezuela’s oil industry, highlighting growing tensions with U.S. oil companies over investment risks, security guarantees, and post-Maduro stability. SourceContinue Reading
Navitas Petroleum has signed a non-binding agreement to acquire a 65% working interest in the PL001 licence in the North Falklands basin, adjacent to the Sea Lion development, advancing offshore South Atlantic exploration with multi-billion-barrel potential. SourceContinue Reading
Akrake Petroleum is preparing to restart oil production at the Sèmè field offshore Benin in the Gulf of Guinea, targeting first oil in late January 2026. With upgraded offshore facilities in place, the project marks a renewed push to revive legacy offshore production in West Africa. SourceContinue Reading
Forum Energy Technologies has appointed Leslie A. Beyer, former assistant secretary at the U.S. Department of the Interior and ex-Energy Workforce & Technology Council CEO, to its board of directors, strengthening regulatory and industry expertise. SourceContinue Reading
Malaysia’s national oil company Petronas has taken its dispute with Petroleum Sarawak Bhd. to the country’s top court, seeking clarity over gas ownership and potential impacts to LNG operations in resource-rich Sarawak. SourceContinue Reading
Indonesia Energy Corporation is advancing pre-drilling operations for two new onshore wells at its Kruh Block in Sumatra, with drilling expected to begin before the end of first-quarter 2026 as part of a back-to-back development program. SourceContinue Reading
The Trump administration is pushing for a rapid revival of Venezuela’s oil sector, but political instability, security risks and governance concerns threaten near-term investment. Oil executives warn that without durable protections and clarity, billions in upstream capital may remain on the sidelines. SourceContinue Reading
Ukraine said it struck multiple Lukoil-operated offshore oil platforms in the Caspian Sea, escalating pressure on Russia’s energy sector. The attack highlights growing risks to upstream infrastructure as energy assets become direct targets in the conflict. SourceContinue Reading
Oil executives struck a cautious tone on Venezuela during Friday’s White House meeting with President Trump, underscoring concerns over security, legal protections and investment risk—even as the administration presses to revive the country’s long-declining oil sector. SourceContinue Reading
