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.
The project to develop the Dragon gas field, located in shallow waters between the two countries, would replenish feedstock for Trinidad’s gas-starved liquefaction complex and petrochemical plants. Trinidad is a significant exporter of LNG, ammonia and other gas-based products.
The partnership will align academic and industrial training with international standards, offering Namibian students, job seekers, and service providers access to education, mentorship, and employment opportunities. The initiative aims to strengthen local capacity across technical disciplines including engineering, fabrication, operations, and project management, supporting the development of Namibia’s offshore energy resources.
Ukraine has discussed with G7 countries additional natural gas imports as it seeks to boost imports by 30% to offset the damage from Russian strikes on its gas infrastructure, Ukrainian Energy Minister Svitlana Grynchuk said on Tuesday.
Shell said in its third quarter 2025 update note that trading and optimization in its Integrated Gas division is expected to be “significantly higher” for the third quarter compared to the second quarter. Marketing adjusted earnings, as well as trading in the chemicals and fuels divisions, are also set to be higher than in Q2, said the supermajor, which reports full Q3 earnings on October 30.