bp, the British energy major, revealed that its upstream production in the Q4 2025 is expected to be broadly in line with the previous quarter, according to company guidance, with stable output in oil production and operations offset by lower volumes in the gas and low-carbon energy segment.
TotalEnergies and Bahrain’s state energy company Bapco Energies have announced the launch of BxT Trading, a new equally owned joint venture designed to strengthen Bahrain’s position in global oil markets. The venture will be backed by flows from Bapco Energies’ refinery, marking a strategic step in expanding the kingdom’s downstream trading capabilities.
The signing ceremony took place in Abu Dhabi, attended by Shaikh Nasser bin Hamad Al Khalifa, Representative of His Majesty the King of Bahrain for Humanitarian Works and Youth Affairs and Chairman of Bapco Energies, alongside Patrick Pouyanné, Chairman and Chief Executive Officer of TotalEnergies.
Exxon Mobil is making preparations to resume processing Venezuelan crude oil at its large Baton Rouge, Louisiana refinery. The facility, which has a capacity of about 522,500 barrels per day (b/d), previously handled heavy, sour crude from Venezuela but stopped doing so after U.S. sanctions were imposed on the South American nation. The move marks a potential shift in operations amid evolving oil market dynamics, though the company has not publicly commented on the plans.
ADNOC Distribution, the UAE’s leading mobility and convenience retailer, kicked off one of the world’s largest superfast electric vehicle (EV) charging hubs, outlined plans to equip the nation's highway network with electric vehicle infrastructure by late 2027.
Several investor groups, including private equity firm Carlyle and a consortium comprising Chevron, Quantum Capital Group and Abu Dhabi-based International Holding Company (IHC), are vying to acquire the global assets of Russia’s Lukoil as a U.S. deadline to divest approaches.
Exxon Mobil remains interested in assessing a potential return to Venezuela and is prepared to send a technical evaluation team within weeks, despite U.S. President Donald Trump signaling he may block the company from operating there, a source familiar with Exxon’s strategy said.
U.S. President Donald Trump said he might block Exxon Mobil from investing in Venezuela after its CEO told him the country was currently unsuitable for investment during a previous White House meeting with at least 17 oil executives. Trump said he was unhappy with Exxon’s response and was inclined to keep the company out of Venezuela because its comments were too cautious.
Shell expects its Upstream production to increase to between 1.84 and 1.94 million barrels of oil equivalent per day (mmboe/d) in the fourth quarter (Q4) of 2025, according to its latest quarterly update note. The projected growth follows a third-quarter (Q3) production level of 1.832 mmboe/d and includes the impact of the Adura joint venture (JV) incorporation.
Trump signed an executive order on January 9 to protect Venezuelan oil revenues from creditors as part of a sweeping effort to stabilize the country’s economy and restore American energy operations following the removal of Nicolas Maduro, Reuters reported. US Treasury Secretary Scott Bessent told Reuters that additional sanctions could be lifted as soon as next week to facilitate immediate crude oil sales.
Abu Dhabi National Oil Company (ADNOC) has reached a final investment decision (FID) for the SARB Deep Gas development, a strategic offshore project within the Ghasha Concession aimed at expanding the UAE’s natural gas production capacity.
