The Australian company saw a one percent increase in output in the third quarter, totaling 50.8 MMboe or 552,000 barrels of oil equivalent a day, according to a stock filing Wednesday. Production consisted of 1.83 billion standard cubic feet a day (Bscfd) of natural gas and 231,000 barrels per day (bpd) of liquids.
Kazakhstan’s Karachaganak field producing oil and gas condensate has curbed production after what it referred to as “an incident” at a gas processing plant in Russia, which was hit by a Ukrainian drone on Monday.
Reliance, which typically buys crude from the Middle East, has been more active than usual in procuring oil from the Gulf region in recent weeks.
A second ultra-deepwater drillship, the Deep Value Driller, having completed its operations in Ghana for Eni Ghana Exploration & Production, will take on work in Indonesia under a new project for Eni Ganal Deepwater. The vessel is being managed by Saipem under a bareboat charter with a purchase option.
Vår Energi ASA reported strong third-quarter 2025 results, highlighted by accelerated project delivery and rising production from key developments on the Norwegian Continental Shelf. The company said seven of nine new growth projects scheduled for 2025 start-up are already on stream, positioning Vår Energi ahead of schedule in its transformation plan.
Partly because of that supply increase, the Washington-based fund has upgraded its forecast for Saudi economic growth to 4% for this year, compared with an earlier estimate of 3%, according to the latest regional economic report published Tuesday.
The joint industry project (JIP), led by DeepOcean, introduces a patented heating solution that allows power cables to be installed after pipeline lay or integrated within reeled pipelines. This approach can reduce manufacturing and installation costs by up to 35% and cut carbon emissions by 30%, while improving operational efficiency and extending tieback distances.
Galp last year undertook an exploration campaign in Namibia, where discoveries by oil majors such as Shell Plc and TotalEnergies SE have drawn international attention. The company also holds licenses in São Tomé and Príncipe, an island nation off Africa’s west coast where it recently teamed up with Shell and Petrobras.
State-owned Egyptian General Petroleum Corp. plans to buy more than a million tons of diesel, gasoline and butane gas for delivery in November, up 60 percent from the same period last year, according to people familiar with the matter, who asked not to be identified as they’re not authorized to speak to the media. Egypt’s energy ministry didn’t respond to a request for comment.
Oil prices continued to inch lower in early Tuesday trading as concerns about oversupply and sagging demand resumed their grip on the market, even as trade-talks between the United States and China offered a glimmer of optimism.