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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.
Vattenfall sells its UK distribution network to Eclipse Power
Vattenfall has signed an agreement to sell its Independent Distribution Network Operator in the UK to Eclipse Power, a subsidiary of Octopus Sky Fund, marking a strategic refocus of its energy investments.

Newheat equips Corrèze greenhouse with 7,000 m² of solar thermal collectors

French renewable heat provider Newheat has inaugurated the largest agricultural solar thermal plant in the country, supplying the Les Tomates d’Auïtou site with 5,400 MWh annually.
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Kyushu EPCO converts Morozuka into a pumped-storage facility to strengthen energy flexibility
The 50 MW Morozuka hydroelectric plant will be converted into a pumped-storage facility, reflecting Kyushu Electric Power's strategic repositioning in response to increasing pressure on Japan’s energy flexibility capabilities.
EDF and OpCore launch €4 billion data centre campus near Paris
EDF and OpCore are converting a former thermal power plant south-east of Paris into one of Europe’s largest data centre campuses, backed by a €4 billion ($4.31bn) investment and scheduled to begin service in 2027.

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.
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South Korea commits to phased shutdown of coal-fired power plants
Seoul joins the Powering Past Coal Alliance and confirms a gradual withdrawal from unabated coal, with a regulatory programme targeting the closure of 40 facilities and a strict assessment of the remaining units.
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.

Hut 8 sells 310 MW gas-fired portfolio to TransAlta after asset optimisation

Hut 8 transfers four natural gas power plants to TransAlta following a turnaround plan and five-year capacity contracts secured in Ontario.
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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.

Technip Energies to deliver three electric marine arms for Northern Lights phase 2

Technip Energies strengthens its role in the Northern Lights project in Norway by supplying electric marine equipment for the transfer of liquefied CO2 at the Øygarden terminal.
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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.
France locks in €100bn nuclear programme under state control
The French Court of Auditors values EDF’s grand carénage at over €100bn, while EPR2 reactors already exceed €67–75bn. The State simultaneously directs regulation, financing, and industrial strategy, raising the risk of conflict of interest.

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.
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Haffner Energy bets on H6 to secure investments in biomass‑hydrogen technology
Haffner Energy presents the H6 generation, a biomass‑hydrogen system positioned as competitive against electrolysis, as the company seeks new investors amid financial pressure and a regulatory landscape focused on RFNBO.
Certified 3D-printed parts for oil and gas enabled by secure remote production
Four companies completed a global series of secure remote additive manufacturing to locally produce certified parts for the oil and gas industry, marking a key industrial milestone for supply chain resilience.

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.
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Tokyo Gas sells TVL LLC to Grayrock Energy for $255mn and reallocates its US gas portfolio
By selling its US subsidiary TVL LLC, active in the Haynesville and Cotton Valley formations in Louisiana, to Grayrock Energy for $255mn, Tokyo Gas pursues a targeted rotation of its upstream assets while strengthening, through TG Natural Resources, its exposure to major US gas hubs supporting its LNG value chain.
HyperStrong secures 200 GWh of CATL batteries in ten-year strategic agreement
HyperStrong commits to purchase at least 200 GWh of battery cells from CATL by 2028, as part of a strategic partnership aimed at structuring a global energy storage ecosystem.
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Chandra Asri secures $750mn from KKR to acquire Exxon’s fuel stations in Singapore
Tokyo Gas sells TVL LLC to Grayrock Energy for $255mn and reallocates its US gas portfolio
ShaMaran delivers first “in kind” cargo to Ceyhan under new Iraqi federal framework
Over 500 carbon capture representatives identified at COP30
TGS launches 14,800 km² seismic survey in Brazil’s Pelotas Basin
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.
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.
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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.
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.

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.
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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.

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.
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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.

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.
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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.
Esso France shareholders approve sale to North Atlantic and €774mn dividend
Esso France shareholders, mostly controlled by ExxonMobil, approved the sale to Canadian group North Atlantic and a €774mn special dividend set for payment on 12 November.

Marathon Petroleum Misses Its Targets Due to Increased Maintenance Costs

Marathon Petroleum missed its adjusted profit forecast for Q3 due to a significant rise in maintenance costs, despite stronger refining margins, sending its shares down more than 7% in pre-market trading.
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TotalEnergies forecasts rising oil demand until 2040 despite energy transition slowdown
TotalEnergies anticipates a continued increase in global oil demand until 2040, followed by a gradual decline, due to political challenges and energy security concerns slowing efforts to cut emissions.
Western sanctions disrupt Lukoil’s international operations
Sanctions imposed by the U.S. and the U.K. are paralyzing Lukoil's operations in Iraq, Finland, and Switzerland, putting its foreign businesses and local partners at risk.

Sunoco finalises the acquisition of Parkland Corporation and prepares for New York listing

Texas-based Sunoco has completed the acquisition of Canadian company Parkland Corporation, paving the way for a New York Stock Exchange listing through SunocoCorp starting November 6.
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bp divests non-controlling interests in US onshore midstream assets for $1.5 billion
BP sells non-controlling stakes in its Permian and Eagle Ford midstream infrastructure to Sixth Street for $1.5 billion while retaining operational control.
Shell secures exclusive negotiation rights on three offshore oil blocks in Angola
Angola enters exclusive negotiations with Shell for the development of offshore blocks 19, 34, and 35, a strategic initiative aimed at stabilizing its oil production around one million barrels per day.