SUBSCRIBE
PROFILE

Paul Messad

Baghdad seeks to preserve oil production despite sanctions targeting Lukoil
The Iraqi Prime Minister met with the founder of Lukoil to secure continued operations at the giant West Qurna-2 oil field, in response to recent US-imposed sanctions.
Pertamina increases imports to meet gasoline demand
The sustained rise in consumption of high-octane gasoline pushes Pertamina to supplement domestic supply with new imported cargoes to stabilise stock levels.

CRR acquires 53 km of oilfield road infrastructure from Islander in Alberta

Canadian group CRR acquires a strategic 53-kilometre road network north of Slave Lake from Islander Oil & Gas to support oil development in the Clearwater region.
en_114017171129540
Kazakhstan denies any plan to acquire Lukoil’s local assets
Kazakhstan’s energy minister dismissed any ongoing talks between the government and Lukoil regarding the potential purchase of its domestic assets, despite earlier comments from a KazMunayGas executive.
OPEC and GECF warn of structural deficit in global energy market
OPEC and the Gas Exporting Countries Forum warn that chronic underinvestment could lead to lasting supply tensions in oil and gas, as demand continues to grow.

Popular support for oil exploration rises sharply in Norway

A national barometer shows that 62% of Norwegians support maintaining the current level of hydrocarbon exploration, confirming an upward trend in a sector central to the country’s economy.
en_114017171141540
ShaMaran delivers first “in kind” cargo to Ceyhan under new Iraqi federal framework
ShaMaran has shipped a first cargo of crude oil from Ceyhan, marking the implementation of the in-kind payment mechanism established between Baghdad, Erbil, and international oil companies following the partial resumption of exports through the Iraq–Türkiye pipeline.
TGS launches 14,800 km² seismic survey in Brazil’s Pelotas Basin
Norwegian group TGS begins Phase I of its multi-client seismic survey in the Pelotas Basin, covering 21 offshore blocks in southern Brazil, with support from industry funding.

Chandra Asri secures $750mn from KKR to acquire Exxon’s fuel stations in Singapore

Indonesian group Chandra Asri receives a $750mn tailor-made funding from KKR for the acquisition of the Esso network in Singapore, strengthening its position in the fuel retail sector.
en_11401771131540
Tethys Petroleum increases output and returns to profit in Q3
Tethys Petroleum posted a net profit of $1.4mn in Q3 2025, driven by a 33% increase in hydrocarbon sales and rising oil output.
Belgrade accelerates on NIS: Vucic sets seven-day deadline to resolve Russian stake issue
Serbia considers emergency options to avoid the confiscation of Russian stakes in NIS, targeted by US sanctions, as President Vucic pledges a definitive decision within one week.

Enbridge invests $1.4bn to boost Canadian crude exports to US refineries

Enbridge commits $1.4bn to expand capacity on its Mainline network and Flanagan South pipeline, aiming to streamline the flow of Canadian crude to US Midwest and Gulf Coast refineries.
en_11401151127540-1
Rapid reshuffle at Petroperu to drive Talara and Amazon under pressure
The Peruvian state has tightened its grip on Petroperu with an emergency board reshuffle to secure the Talara refinery, fuel supply and the revival of Amazon oil fields.
Bulgaria places Lukoil refinery under state control to avoid US sanctions
Sofia appoints an administrator to manage Lukoil’s Bulgarian assets ahead of upcoming US sanctions, ensuring continued operations at the Balkans’ largest refinery.

Washington demands Gazprom Neft’s exit from NIS and maintains sanctions

The United States rejected Serbia’s proposal to ease sanctions on NIS, conditioning any relief on the complete withdrawal of Russian shareholders.
en_1140151132540
IEA forecasts global oil surplus of 4 mbpd in 2026
The International Energy Agency expects a surplus of crude oil by 2026, with supply exceeding global demand by 4 million barrels per day due to increased production within and outside OPEC+.
Berlin sets subsidised electricity price at €0.05/kWh for heavy industry until 2028
Germany will introduce a capped electricity rate for its most energy-intensive industries to preserve competitiveness amid high power costs.

France: Sylvain Waserman defends Ademe against criticism of its effectiveness and legitimacy

Under political pressure, Ademe faces proposals for its elimination. Its president reiterates the agency’s role and justifies the management of the €3.4bn operated in 2024.
en_1140131131540
Solar and wind growth absorbs all global electricity demand increase
Solar and wind generation exceeded the increase in global electricity demand in the first three quarters of 2025, leading to a stagnation in fossil fuel production according to the latest available data.
Cenovus completes MEG Energy acquisition in $5.0bn deal
Cenovus Energy has completed the acquisition of MEG Energy, adding 110,000 barrels per day of production and strengthening its position in Canadian oil sands.
  • Popular on energynews.pro
Popular support for oil exploration rises sharply in Norway
Benin receives offshore unit to relaunch the Sèmè oil field
Newcleo considers shifting €16bn nuclear projects from the UK to the United States
Verso Energy awards FEED contract for DEZiR project to Rely for site in Normandy
Proparco strengthens Kipeto wind farm equity alongside Meridiam
Bulgaria passes law to take control of Lukoil refinery
Faced with US sanctions targeting Lukoil, Bulgaria adopts emergency legislation allowing direct control over the Balkans’ largest refinery to secure its energy supply.
Global renewable capacity to reach 793 GW in 2025 despite limited political ambitions
Global solar and wind additions will hit a new record in 2025, but the lack of ambitious national targets creates uncertainty around achieving a tripling by 2030.

South Korea under industrial pressure over emissions targets deemed unrealistic

South Korean refiners warn of excessive emissions targets as government considers cuts of up to 60% from 2018 levels.
en_1140991143540
MEG Energy shareholders approve Cenovus merger with 86% support
MEG Energy shareholders have overwhelmingly approved the acquisition by Cenovus, marking a critical milestone ahead of the expected transaction closing later in November.
Lula defends funding energy transition through oil revenues
Ahead of COP30 in Belém, Brazilian President Luiz Inacio Lula da Silva adopts a controversial stance by proposing to finance the energy transition with proceeds from offshore oil exploration near the Amazon.

Petrobras increases net profit in third quarter driven by production growth

Petrobras reported a net profit of $6 billion in the third quarter, supported by rising production and exports despite declining global oil prices.
en_1140991147540
Gunvor drops $22bn bid for Lukoil assets under US pressure
Swiss trader Gunvor has withdrawn its $22bn offer to acquire Lukoil’s international assets after the US Treasury announced it would block any related operating licence.
Trump to auction 80 million offshore acres and plans Alaska lease sale
The Trump administration will launch on December 10 a major oil lease sale in the Gulf of Mexico, with a second auction scheduled in Alaska from 2026 as part of its offshore hydrocarbons expansion agenda.

ConocoPhillips raises dividends despite soaring Willow project costs

The US group increased its dividend and annual production forecast, but the $1.5bn rise in costs for the Willow project in Alaska is causing concern in the markets.
en_1140661134540
China could reach its CO2 emissions peak around 2028, experts say
An international group of researchers now forecasts a Chinese emissions peak by 2028, despite recent signs of decline, increasing uncertainty over the country’s energy transition pace.
Electricity price surge in Syria deepens social and economic crisis
The end of subsidies and a dramatic rise in electricity prices in Syria are worsening poverty and fuelling public discontent, as the country begins reconstruction after more than a decade of war.

Saturn Oil & Gas boosts performance through acquisitions and financial discipline

Canadian producer Saturn Oil & Gas exceeded its production forecast in the third quarter of 2025, driven by a targeted investment strategy, debt reduction and a disciplined shareholder return policy.
en_1140661150540
Aker Solutions secures five-year contract with ExxonMobil Canada for Hebron platform
Aker Solutions has secured a five-year brownfield maintenance contract extension with ExxonMobil Canada, reinforcing its presence on the East Coast and workforce in Newfoundland and Labrador.
Diamondback Energy generates $1.8bn in free cash flow in Q3 2025
With average oil production of 503,750 barrels per day, Diamondback Energy strengthens its profitability and continues its share buyback and strategic asset divestment programme.

International Petroleum accelerates Blackrod and completes USD 450mn bond refinancing

International Petroleum Corporation exceeded its operational targets in the third quarter, strengthened its financial position and brought forward production from its Blackrod project in Canada.
en_114021092046540-1
DNO strengthens position in Verdande through asset swap with Aker BP
Norwegian firm DNO increases its stake in the developing Verdande field by offloading non-core assets to Aker BP in a cash-free transaction.
TAG Oil secures three-year extension to evaluate BED-1 oil field in Egypt
TAG Oil extends the BED-1 evaluation period until October 2028, committing to drill two new wells before deciding on full-scale development of the Abu Roash F reservoir.

Expro deploys its ELITE Composition™ service on offshore well in Cyprus

Expro delivered its new on-site fluid analysis service for a major oil operator in Cyprus, cutting turnaround times from several months to just hours during an exploration drilling campaign in the Eastern Mediterranean.
en_1140551178540
Sinopec signs $40.9bn in deals during 2025 China International Import Expo
Sinopec finalised supply agreements worth $40.9bn with 34 foreign companies at the 2025 China International Import Expo, reinforcing its position in the global petroleum and chemical trade.
Gunvor rules out resale of Lukoil assets to Russia after acquisition
Commodities trader Gunvor confirmed that the assets acquired from Lukoil will not return under Russian control, despite potential sanction relief, amid growing regulatory pressure.