Equinor achieved total equity production of 2.130 million barrels of oil equivalent per day (mmboe/d) in the third quarter (Q3) of 2025, marking a 7% increase from 1.984 mmboe/d in Q3 2024. The company attributed the production growth to strong performance from the Johan Sverdrup and Johan Castberg fields.
Saudi Aramco, one of the world’s leading integrated energy companies, announced it has completed a significant $11 billion lease and leaseback agreement for its Jafurah gas processing facilities and signed a non-binding term sheet with the Public Investment Fund (PIF) to acquire a minority stake in HUMAIN, a PIF company dedicated to building advanced artificial intelligence (AI) capabilities globally. These moves advance Aramco's strategy to diversify its value creation beyond traditional energy.
Russian oil giant Lukoil plans to sell its international assets following the imposition of new restrictive measures against the company and its subsidiaries. Lukoil has begun reviewing bids from potential buyers for its assets, with the sale process being conducted under a US Office of Foreign Assets Control (OFAC) wind-down license.
Eni, the oil and gas major, announced that its oil and gas production has recorded 1.76 million barrels of oil equivalent (mmboe/d) in the third quarter (Q3) of 2025, jumping 6% compared to Q3 2024 and 5% compared to quarter two (Q2) 2025.
Iraq’s Ministry of Oil highlighted that the Kirkuk Fields Development Project will raise oil and gas production and curb flaring through effective investment, with the Ministry noting that it will also help drive economic activity in the surrounding areas.
The financial results of Saipem, the global leader engineering and construction company, showed an increase in revenues by 1.6% in Q3 2025, reaching €3.8 billion compared to €3.71 billion in Q3 2024
U.S. President Donald Trump announced on Wednesday Ukraine-related sanctions for the first time in his second term, blacklisting Russian oil major companies Lukoil and Rosneft amid growing frustration with President Vladimir Putin over the war, Reuters reported.
bp confirmed a significant gas condensate discovery at the Volans-1X exploration well in Namibia’s Orange Basin, marking the company's eleventh exploration success this year. The well, drilled in Petroleum Exploration License 85 (PEL85), strengthens bp’s growing exploration record for 2025.
U.S. President Donald Trump reaffirmed that Indian Prime Minister Narendra Modi told him India will stop buying Russian oil, while warning that New Delhi would continue paying "massive" tariffs if it did not, Reuters reported.
Trump’s stance comes amid rising tensions over trade and energy policy. Russian oil has been a major sticking point in US-India trade talks, with roughly half of Trump’s 50% tariffs on Indian goods reportedly being in retaliation for India’s oil purchases from Moscow. Washington argues these purchases help finance Russia’s war in Ukraine. India has become the largest buyer of discounted Russian crude since the 2022 invasion of Ukraine.
Halliburton and Aker BP, one of the largest independent upstream producers, successfully completed the first subsea operation on the Norwegian continental shelf using the Enhanced Remote Operated Control System (eROCS) and Optime Tubing Hanger Orientation System (OTHOS).
