India’s Russian Crude Imports Set to Top 1 mmbbl/d in December Despite Sanctions

• Wednesday, 17th December 2025
• by Fatma Ahmed

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 Midad Energy Eyes $22bn Lukoil Overseas Portfolio

• Wednesday, 17th December 2025
• by Fatma Ahmed

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 to Supply Solar power to Google’s Malysia Data Centers

• Tuesday, 16th December 2025
• by Fatma Ahmed

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, Hunt Oil Partner to Redevelop Mature Oil and Gas Fields

• Tuesday, 16th December 2025
• by Fatma Ahmed

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.

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.