Industry & Analysis
News
February 06, 2026
South Africa’s new Upstream Petroleum Resources Development Act seeks to improve legal certainty and attract exploration investment following recent supermajor exits, but questions remain over whether the new framework can revive offshore development.
News
February 06, 2026
Canadian crude markets are showing signs of oversupply as widening Western Canadian Select discounts, rising storage incentives and increased competition from Venezuela pressure oil sands producers despite expanded export capacity.
News
February 05, 2026
ConocoPhillips says recovering billions from past Venezuela expropriations will take priority over new drilling, highlighting ongoing financial and political hurdles facing foreign investment in the country’s oil sector.
News
February 05, 2026
The Independent Petroleum Association of America (IPAA) has promoted Dan Naatz to executive vice president and chief policy officer, strengthening its advocacy for U.S. independent oil and gas producers on federal leasing, methane regulation and permitting reform.
News
February 05, 2026
Shell reported strong cash generation and upstream resilience in Q4 2025, delivering $26 billion in annual free cash flow, boosting its dividend and extending share buybacks as it continues portfolio high-grading and disciplined upstream investment into 2026.
News
February 04, 2026
Oil production growth in South America will continue to be driven by Brazil, Guyana and Argentina through at least 2030, with Venezuela’s recovery constrained by project economics, crude quality and investment risk, according to Rystad Energy.
News
February 04, 2026
Mexico’s state oil company Pemex has reduced its debt to an 11-year low after receiving more than $40 billion in government support, as President Claudia Sheinbaum looks to revive oil production, attract private investment and stabilize aging upstream assets.
News
February 03, 2026
The U.S. government is preparing to issue a general license to allow companies with U.S. ties to restart oil production in Venezuela, easing sanctions and supporting revival of the country’s upstream sector.
News
February 02, 2026
Namibia’s push toward first oil is being driven by partnerships and dealmaking across its offshore basins. Farm-ins, portfolio reshuffling and joint appraisal programs at Venus and Mopane highlight growing confidence in the country’s deepwater potential as operators work to de-risk projects and accelerate development timelines.
News
February 02, 2026
World Oil marked a milestone in its annual Forecast Breakfast series on Friday, celebrating 100 years of forecasting and its 58th Forecast Breakfast event, with industry leaders offering a clear-eyed view of global energy demand, U.S. shale productivity, regulatory challenges and the year ahead for drilling activity.
News
February 02, 2026
The Energy Workforce & Technology Council welcomed new U.S. Department of the Interior action aimed at supporting oil and gas production on federal lands, citing workforce and energy security benefits.
News
January 30, 2026
PETRONAS plans to sustain Malaysia’s upstream oil and gas production at around 2 million boed through 2028, supported by continued investment in exploration, deepwater projects and enhanced oil recovery.
News
January 30, 2026
Saudi Arabia recorded its fastest economic growth since 2022 in 2025, driven by higher crude output under OPEC+ supply increases and stronger oil-sector activity.
News
January 30, 2026
The American Petroleum Institute welcomed a proposed Department of the Interior rule aimed at modernizing federal commingling regulations, citing potential benefits for operational efficiency and responsible resource development.
News
January 30, 2026
Texas upstream oil and gas employment rose in December 2025 as extraction and support services added jobs, TIPRO reported, though full-year employment remained largely flat amid market volatility and efficiency gains.
News
January 29, 2026
Mozambique LNG has fully restarted onshore and offshore construction activities after lifting force majeure declared in 2021, with more than 4,000 workers mobilized at the Afungi site and first LNG now targeted for 2029, according to project partners and the Mozambican government.
News
January 29, 2026
Brent crude climbed above $71 a barrel as U.S. President Donald Trump warned Iran to accept a nuclear deal or face possible military action, reigniting fears of supply disruptions through the Strait of Hormuz and adding a fresh geopolitical risk premium to oil markets.
News
January 28, 2026
Venezuela’s proposed hydrocarbons law is drawing criticism from investors, unions and U.S. officials as the interim government seeks to revive oil production while balancing political resistance and investor concerns.
News
January 28, 2026
The American Petroleum Institute (API) told U.S. senators this week that reforming the federal permitting system is critical to meeting rising energy demand and advancing new infrastructure investment across the U.S. energy sector.
News
January 27, 2026
Former OPEC president and Nigerian oil minister Diezani Alison-Madueke has gone on trial in London, accused of accepting cash bribes and luxury benefits in exchange for awarding oil-sector contracts during her time in office.
News
January 26, 2026
Kazakhstan has scored a partial win in a long-running arbitration with international oil companies, potentially leaving Karachaganak partners facing up to $4 billion in compensation tied to disputed cost recoveries.
