Abu Dhabi National Oil Company (ADNOC), the State-owned energy major, has signed a landmark structured financing transaction of up to $11 billion to monetize future midstream gas production from the Hail and Ghasha project, in partnership with Eni and Thailand’s PTTEP.
Baker Hughes, one of the major innovators, has secured a significant multi-year contract from Kuwait Oil Company (KOC), the state-owned oil company, to deploy advanced artificial lift technologies aimed at enhancing production across Kuwait’s oil and gas fields.
India’s imports of Russian crude oil are set to exceed 1 million barrels per day (mmbbl/d) in December, according to trade and refining sources, bucking earlier expectations of a sharp drop as refiners resume purchases from non-sanctioned suppliers offering steep discounts, Reuters reported.
Energy trade between India and Russia has remained resilient despite increased Western sanctions, following a recent meeting between Russian President Vladimir Putin and Indian Prime Minister Narendra Modi, where both leaders reaffirmed their commitment to continued cooperation.
Saudi Arabia’s Midad Energy has become a key contender to acquire the international assets of Russian oil major Lukoil. The assets, estimated to be worth around $22 billion, include oilfields, refineries, and thousands of fuel retail stations across global markets.
TotalEnergies and Google have signed a 21-year power purchase agreement (PPA) under which Google will receive one terawatt-hour (TWh) of certified renewable electricity from the Citra Energies solar power plant in northern Malaysia, the companies announced. The agreement covers the supply of around 20 megawatts (MW) of solar power from the project, which will be developed in Kedah province and is scheduled to begin construction in early 2026.
Baker Hughes, one of the major energy technology company and Hunt Oil Company, privately held upstream explorer, have signed a joint framework agreement to evaluate and redevelop mature oil and gas fields worldwide, the companies announced aiming to extend the productive life of aging assets and unlock new hydrocarbon value.
The European Union (EU) has imposed new sanctions on Russian oil interests, targeting traders and shipping networks accused of helping Moscow bypass Western restrictions on crude exports that fund its war in Ukraine, Reuters reported.
The latest measures add nine individuals and entities linked to Russia’s so-called shadow fleet of oil tankers, including businessmen connected to state oil companies Rosneft and Lukoil, as well as firms that own and manage tankers operating outside Western maritime and insurance systems.
SLB has signed a strategic collaboration agreement with Shell to develop digital and artificial intelligence (AI) solutions aimed at driving performance and efficiency gains across upstream operations for the industry.
The partnership will focus on developing agentic AI-powered solutions to accelerate and amplify the capabilities of technical experts and decision makers in subsurface operations, well construction, and production.
Organization of the Petroleum Exporting Countries (OPEC) is maintaining its upbeat outlook for the global oil market, keeping its forecasts for demand growth unchanged for both this year and next, according to Bloomberg.
In its monthly report released on December 11, OPEC left its projection for global oil demand growth in 2025 at 1.3 million barrels per day (bbl/d) for an eighth consecutive month, and kept its 2026 growth estimate at 1.4 million bbl/d for a fourth month in a row.
Shell, one of the giant global energy companies, is reportedly nearing an agreement to acquire LLOG Exploration Offshore in a transaction valued at over $3 billion.
If completed, the deal would significantly expand Shell’s upstream footprint through the addition of one of the largest privately owned oil and gas operators in the U.S. Gulf of Mexico.
