bp has begun production from the Murlach field in the UK North Sea, marking the company’s sixth major upstream start-up of 2025. The Murlach redevelopment, a two-well subsea tieback to the bp-operated Eastern Trough Area Project (ETAP) hub, is expected to add around 15,000 barrels of oil equivalent per day (boed) at peak production.
The request comes as Egypt, which only became a net importer of the fuel in 2024 and more than doubled the amount of LNG it bought this year, struggles to assess its demand. The nation purchased a large volume of shipments earlier in 2025, with some of the deals having an element of flexibility.
“The transaction reflects Aramco’s commitment to its partners and, as it forges ahead with a downstream strategy that promotes value creation, business integration and portfolio diversification”, Aramco said in a statement on its website.
“This new financing [EUR 300 million] from the EIB will help reinforce Ukraine’s energy security during the winter, providing vital support to communities and businesses”, EIB president Nadia Calviño said in a statement from the bank October 1.
Civitas has been discussing a deal with SM that wouldn’t include a premium and would be structured as a merger of equals as it explores strategic options, said the people, who asked to not be identified because the details aren’t public. No deal has been finalized and other parties are circling Civitas, the people added.
“Some clients doubt that a price floor at $60 a barrel for Brent crude oil would be enough to induce a supply-and-demand reaction to balance a global liquids market generally seen heading for a surplus,” Citi’s team reported. Others, on the other hand, expect a smoother price correction, pointing to inventory builds in parts of the world but not in the United States.
Russia’s oil production averaged 9.173 million bpd in August, compared to the 9.259 million bpd ceiling in the OPEC+ deal, which also takes into account Moscow’s compensation for previous overproduction.
The U.S. Energy Information Administration (EIA) has raised both its 2025 and 2026 average Brent crude oil spot price forecasts in a short term energy outlook (STEO) for the first time in 2025.
The transaction agreement covers the acquisition of all issued and outstanding shares of Shelf Drilling and was approved with 99.6% of votes cast in favour.
ExxonMobil signed agreements that lay the groundwork for it to explore Iraq’s giant Majnoon oil field, ending the company’s near two-year hiatus in the country.