Crude oil news

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  8 January 2026

  Galp and Moeve to Merge Downstream Operations for European Energy and Mobility Leadership

  The merger aims to enhance value, scale, and strategic positioning, focusing on mobility, refining, and green projects, pending final agreements and approvals by mid-2026.
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  29 December 2025

  ORLEN Boosts Production with Różańsko Gas Field Launch

  Różańsko field adds 130 mcm annually, supporting energy security. Linked to Dębno facility, it aids ORLEN's 4 bcm target by 2030, with gas for power plants and crude for industry.
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  22 December 2025

  ORLEN Expands in Norway with New Field Acquisitions

  ORLEN's Norwegian unit acquires stakes in Albuskjell and Vest Ekofisk, boosting gas production by 420 million cubic meters annually.
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  22 December 2025

  INEOS Energy Announces Gulf of America Oil Discovery

  The Nashville well confirms high-quality oil in the Gulf's deepwater. Further analysis will assess the find's size, potentially enhancing energy security and supply.
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  17 December 2025

  MOL Group and SOCAR Sign Onshore Exploration Agreement

  MOL and SOCAR partner for hydrocarbon exploration in Azerbaijan's Shamakhi-Gobustan region, with MOL as operator. Seismic survey set for 2026, followed by drilling.
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  16 December 2025

  Shell Invests in Kaikias Waterflood Project in Gulf of America

  Shell's Kaikias waterflood project aims to boost oil recovery and extend Ursa platform's lifecycle in the Gulf of America, with first injection set for 2028.

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  15 December 2025

  OMV Petrom Begins Offshore Exploration in Bulgaria's Han Asparuh Block

  Exploration drilling in Bulgaria's Han Asparuh block starts with two wells, costing €170M, using advanced tech and safety standards, aiming to enhance regional energy security.
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  15 December 2025

  Neste Adjusts Climate Targets

  Neste delays its carbon neutrality goal to 2040, focusing on absolute emission cuts and halting emission compensation, due to financial constraints and investment priorities.
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  11 December 2025

  bp Launches Seventh Major Project of 2025

  Atlantis Drill Center 1 expansion boosts production by 15,000 boe/d, delivered two months early, enhancing US offshore capacity.
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  9 December 2025

  Galp and TotalEnergies Swap Stakes in Namibian Offshore Blocks

  Galp swaps 40% of PEL 83 for stakes in PEL 56 and PEL 91, with TotalEnergies assuming operatorship and sharing exploration costs. Approval expected by 2026.
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  8 December 2025

  Repsol and HitecVision Merge UK Operations with TotalEnergies in North Sea

  The merger forms NEO NEXT+, boosting production to 250,000 barrels/day by 2026, with TotalEnergies holding 47.5% and enhancing operational capabilities. Completion expected in H1 2026.
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  8 December 2025

  TechnipFMC Delivers 100th Subsea 2.0 Tree to Shell

  The 100th Subsea 2.0 tree, made in Malaysia, will be used in the Gulf of America. The platform's modular design reduces lead time and enhances efficiency in subsea operations.
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  8 December 2025

  TotalEnergies and NEO NEXT Merge to Form UK's Largest Independent Oil and Gas Producer

  TotalEnergies holds 47.5% in NEO NEXT+, enhancing synergies and cash flow with a diverse asset portfolio, producing over 250,000 barrels daily by 2026. Completion expected in H1 2026.
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  8 December 2025

  North Sea Strategy Threatens UK Energy Security

  The UK's Energy Profits Levy and restrictive policies risk jobs, reduce energy security, and increase reliance on imports. Urgent tax reform is needed to restore investment and stabilize the sector.
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  5 December 2025

  Equinor Discovers Gas and Condensate in North Sea

  Two new gas and condensate finds in the Sleipner area can be developed for Europe using existing infrastructure, enhancing export capacity and profitability with minimal environmental impact.
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  4 December 2025

  Shell Expands Stake in Brazil's Atapu and Mero Offshore Units

  Shell increases its interest in Brazil's pre-salt oil projects, enhancing its production capacity and maintaining a focus on high-margin, low-carbon assets.
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  4 December 2025

  Equinor Extends Norne's Lifespan with Verdande Development

  Verdande subsea field starts production, extending Norne FPSO's life. Developed swiftly, it boosts resource recovery and supports the Norwegian supplier industry with over NOK 6 billion investment.
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  3 December 2025

  Tengizchevroil Showcases Reservoir Management at SPE Conference

  TCO shared advanced reservoir techniques at SPE conference, highlighting innovations in production, safety, and sustainability, and received awards for technological excellence.
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  3 December 2025

  Chevron Sets 2026 Capex at $18-$19 Billion

  2026 capex focuses on high-return projects, with $10.5B in U.S., $7B offshore. $1B targets carbon reduction and new energies. Affiliate capex at $1.3-$1.7B.
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  1 December 2025

  Shell and Equinor Form Adura, UK's Largest Independent North Sea Producer

  Adura, led by Neil McCulloch, combines expertise to optimize UK North Sea assets, assuming interests in 12 projects and exploration licenses, headquartered in Aberdeen.
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  25 November 2025

  Veolia's Project to Eliminate Coal in Poznań by 2030

  Poznań's district heating will phase out coal by 2030, using a high-efficiency cogeneration plant and innovative energy sources to enhance decarbonization and energy resilience.
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  20 November 2025

  MOL and Slovnaft Seek EC Intervention on Janaf's Pipeline Practices

  Janaf's unexpected demands on crude oil deliveries raise supply security concerns, potentially breaching contracts and affecting EU fuel supply.
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  20 November 2025

  ORLEN Group Reports Record Q3 2025 Profit and Investment

  ORLEN's Q3 2025 saw high investment in energy security, record dividends, and growth in renewable capacity, with strong performance across all segments despite challenging conditions.
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  18 November 2025

  TotalEnergies Responds to French Competition Authority's Decision on Corsica

  TotalEnergies disputes a fine over Corsica fuel supply, citing lack of evidence and plans to appeal, while reviewing its operations on the island.
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  11 November 2025

  Equinor Transfers Peregrino Operatorship to PRIO

  Equinor sold a 40% stake in Brazil's Peregrino field to PRIO for USD 2.33 billion, transferring operatorship. Equinor continues as a non-operated partner for the remaining 20% stake.
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  7 November 2025

  MOL Group Revises 2025 EBITDA Guidance Amid Strong Q3 Results

  Q3 profit stable at USD 503 mn. Upstream steady, downstream boosted by refining margins. Consumer Services grew, Circular Economy Services faced seasonal challenges. Guidance reviewed.
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  7 November 2025

  Equinor Awards New ISS Framework Agreements

  New ISS agreements ensure operational continuity, local job security, and community benefits at Equinor's Norwegian onshore plants, with a focus on safety and collaboration.
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  6 November 2025

  Gunvor USA Refinances $2.8 Billion Credit Facility with Expanded Lender Group

  The facility includes $2.11B one-year, $700M two-year tranches, and a $500M accordion. It was oversubscribed, adding four new banks, enhancing liquidity for energy commodities.
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  4 November 2025

  Aramco Q3 2025 Financial Results

  Adjusted net income rose to $28B. Cash flow and free cash flow increased. Gearing ratio improved. Dividends declared. Investments in HUMAIN and Fujian reflect strategic growth.
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  3 November 2025

  INEOS Marks 50 Years of Forties Pipeline, Criticizes UK Energy Policies

  The Forties Pipeline has delivered 9.6B barrels over 50 years. INEOS invested £500M since 2017. UK energy policies risk undermining energy independence and investment.