EU Targets Traders, Shadow Fleet in Fresh Sanctions on Russian Oil

• Tuesday, 16th December 2025
• by Fatma Ahmed

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, Shell Sign AI Collaboration Agreement to Develop Upstream Digital Solutions

• Monday, 15th December 2025
• by Samar Samir

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.

OPEC Keeps 2025, 2026 Demand Projections Unchanged for Eighth Month

• Thursday, 11th December 2025
• by Samar Samir

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 Nears $3 Bn Deal to Acquire LLOG Exploration Offshore

• Wednesday, 10th December 2025
• by Fatma Ahmed

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.

Eni Discovers Up to 1 Tcf of Natural Gas Offshore Indonesia

• Wednesday, 10th December 2025
• by Fatma Ahmed

Eni has confirmed a significant natural gas discovery at the Konta-1 exploration well in the Muara Bakau Production Sharing Contract (PSC), located approximately 50 kilometers offshore East Kalimantan in Indonesia's Kutei Basin. Early estimates place the gas initially in place at around 600 billion cubic feet (bcf), with the potential to exceed 1 trillion cubic feet (tcf) once additional reservoir segments are assessed.​

Aramco, ExxonMobil to Explore Major Expansion of Samref Refinery

• Tuesday, 9th December 2025
• by Fatma Ahmed

Aramco, ExxonMobil and Saudi Aramco Mobil Refinery (Samref) have entered a Venture Framework Agreement (VFA) to explore a major expansion and upgrade of the Samref refinery in Yanbu, aiming to transform the site into an integrated petrochemical complex.

The review will assess potential investments to enhance and broaden production, including lower-emission premium distillates and high-performance chemical products, alongside measures to cut operational emissions through a coordinated reduction strategy.

TotalEnergies to Merge UK Upstream Business with NEO NEXT, Forming New Entity NEO NEXT+

• Monday, 8th December 2025
• by Fatma Ahmed

TotalEnergies has reached an agreement to merge its UK upstream operations with NEO NEXT Energy Limited, creating a newly expanded company to be renamed NEO NEXT+ in a deal expected to close in the first half (H1) of 2026.

JERA Signs First Long-Term LNG Deal to Supply India

• Monday, 8th December 2025
• by Fatma Ahmed

Japan’s largest power generation company, JERA, has signed a 10-year liquefied natural gas (LNG) sale and purchase agreement with Torrent Power, one of India’s leading integrated power utilities. The deal, which begins in 2027, marks JERA’s first long-term contract to supply cargoes outside of Japan, signifying a major step in its global expansion strategy.​

Russia’s Gazprom Resumes Portovaya LNG Exports with Shipment to China

• Monday, 8th December 2025
• by Fatma Ahmed

Russia’s state-controlled energy giant Gazprom has shipped a liquefied natural gas (LNG) cargo to China from its Portovaya LNG facility, marking the first apparent delivery since the US imposed sanctions on the project earlier this year, Reuters reported.

Iraq’s East Baghdad-Rashidiya Field Reaches 8,000 bbl/d Capacity

• Monday, 8th December 2025
• by Fatma Ahmed

The Iraq’s Ministry of Oil revealed that the East Baghdad–Rashidiya field currently has a production capacity of about 8,000 barrels per day (b/d) of crude oil, in addition to 15 million cubic feet per day (mmcf/d) of dry gas.