Rystad Energy analysts say Venezuela has a technical route to rebuild production toward 3 million bpd, but the milestone would only be achievable around 2040 and would require approximately $183 billion in cumulative oil and gas investment beginning in 2026. SourceContinue Reading
Halliburton has launched the Hypersteer MX matrix-body directional drill bit, addressing erosion and abrasion challenges in high-flow shale wells to enable longer runs and reduced well construction time. SourceContinue Reading
IPAA is asking the U.S. Environmental Protection Agency to revise Subpart W methane reporting rules, saying current definitions and emission factors create disproportionate costs for small and marginal-well operators. SourceContinue Reading
InCapture has awarded Wood the concept engineering phase for its G-15-AP CCS acreage offshore Australia, as appraisal drilling continues toward declaration of storage formation. SourceContinue Reading
Shell has agreed to acquire a 35% stake in two blocks offshore Angola through a farm-in with Chevron’s subsidiary, reflecting continued IOC interest in approved West Africa exploration despite regional production decline. SourceContinue Reading
Trafigura’s leadership says the firm will engage the U.S. government this week on how traders can return to buying crude from Venezuela and supplying fuel, while emphasizing that any comeback depends on OFAC permits and a credible upstream legal framework. SourceContinue Reading
Analysts at Australia and New Zealand Banking Group Ltd. (ANZ) caution that meaningful growth in Venezuela’s oil production is unlikely before the end of the decade, as capital intensity, aging infrastructure and sanctions risk point to longer project timelines than the industry norm. SourceContinue Reading
Analysts say Venezuela’s political upheaval is unlikely to disrupt global crude supply in the near term, but uncertainty around sanctions, exports and investment could reshape upstream dynamics in 2026 and beyond, with Chevron viewed as best positioned among U.S. majors. SourceContinue Reading
Touchstone Exploration has reported thick gas-bearing Herrera sands and a newly identified Karamat gas play at its Carapal Ridge-3 well in Trinidad, with completion and facility tie-in planned for early 2026. SourceContinue Reading
