In a notably quiet week, holiday-thinned liquidity kept ICE Brent range-bound at $65.80–$67.90/bbl despite a steep U.S. stock selloff.
The total number of active drilling rigs for oil and gas in the United States fell this week, according to new data that Baker Hughes published on Friday.
Earlier this week, China’s Sinopec reported a plunge in its first-half profit, citing subdued fuel demand as a reason. According to Kpler, sluggish fuel demand is a global trend, and it is set to extend into next year as well.
The initial order includes around 1,000 G6 single-gas detectors and 1,200 Blackline Location Beacons, supported by four years of service. The deal was won through UAE channel partner Al Masaood.
The acquisition consolidates two leading SAGD oil sands producers with combined production exceeding 720,000 barrels per day and complementary assets in Christina Lake, Alberta.
Woodside has won a favorable decision from the Federal Court confirming the validity of the National Offshore Petroleum Safety and Environmental Management Authority’s acceptance of the Scarborough Offshore Facility and Trunkline Environment Plan.
In recent years, exploratory activities in natural gas have slowed, leading to a depletion of reserves without new discoveries. If this continues, Peru could start importing natural gas between 2037 and 2040, which would drive up electricity generation costs and negatively affect the competitiveness of key sectors including industry, transport, and domestic consumers.
Angolan oil producer Etu Energias is pursuing accelerated oil production in Angola, with advancements in onshore exploration and offshore development positioning it to achieve its 80,000 bpd goal.
Russia and India are looking for ways to continue trading oil, and Russia has offered what it calls a special mechanism to the India side to ensure this—despite U.S. President Trump’s threat to impose an additional tariff of 25% on Indian exports if the country keeps buying Russian oil.
Russia and India are interested in collaborating on joint energy projects, including oil and gas production in Russia’s Far East and Arctic shelf, Russian Foreign Minister Sergei Lavrov said on Thursday after meeting with his Indian counterpart in Moscow.