OPEC+ leader Saudi Arabia wants the group to consider reviving more oil production ahead of its scheduled return at the end of next year amid a push to reclaim market share, people familiar with the matter said.
The Gulf of America (GoA) has witnessed an outstanding 2025 in terms of startup activity. Three new floating production units (FPU) are set to begin operations by year-end, with the potential to drive the basin’s deepwater output to an all-time high of nearly 2.2 million barrels of oil equivalent per day (boepd) in 2026.
Malaysia’s Petroliam Nasional Berhad (Petronas) has produced the first hydrocarbons from the Bindu field, located 210 kilometers (136 miles) off the coast of Terengganu.
Angola’s oil production fell below the million-barrels-a-day level for the first time since it quit OPEC two years ago.
Crude output declined to 998,757 bpd in July, the lowest level since March 2023, when average monthly production last dropped to six figures, according to Angola’s National Agency for Petroleum and Gas data.
“The [Crown Minerals Amendment] Bill removes the ban on oil and gas exploration beyond onshore Taranaki, better aligns decommissioning settings with international practice, establishes a new tier of permit to undertake small-scale non-commercial gold mining and signals the Coalition Government’s intent to reinvigorate investment in Crown-owned minerals”, Jone said in a statement.
India’s domestic oil and gas production is nowhere near enough to meet even half of its demand for oil and gas, but any boost to domestic supply would be welcome as a replacement for import dependence, which currently stands at an impressive 85% of total demand for oil.
ExxonMobil Guyana has started production at Yellowtail, the fourth oil development in Guyana’s offshore Stabroek block. Yellowtail’s ONE GUYANA FPSO vessel joins the Destiny, Unity, and Prosperity FPSOs, bringing total installed capacity in Guyana to above 900,000 barrels of oil per day.
In Block 32, TotalEnergies, with a 30 percent operating ownership, said 2024 it would continue drilling development wells through the third quarter of 2025 including three infill wells of Kari Phase 1. It said it was assessing potential additional developments in discoveries in the central and northern areas of the block. Block 32 is already in production through FPSOs Kaombo Norte and Kaombo Sul.
African exploration and production company Petralon Energy is on track to boost Nigerian crude production by a further 2,500 barrels per day (bpd), following drilling activities at the Dawes Island field, according to a news release from the African Energy Chamber. The company has recently completed a new well at the field, aligning with plans to maximize output at the field. Operated by Petralon Energy subsidiary Petralon 54 Limited, the field is situated in Petroleum Prospecting License (PPL) 259.
Total U.S. liquids production eked out a record-high of 20.83 million barrels a day (bpd) in April, up roughly 50,000 barrels from the previous month, according to the U.S. Energy Information Administration’s latest Petroleum Supply Monthly report released on Monday.