SONATRACH, Midad Energy Ink $5.4 Bn Exploration Deal in Algeria

• Tuesday, 14th October 2025
• by Fatma Ahmed

SONATRACH, the Algerian national oil company (NOC), and the Saudi Midad Energy North Africa signed a $5.4 billion hydrocarbon-sharing contract for the exploration and development of the Illizi South area in Algeria.
The agreement, signed on October 13, strengthens Algerian-Saudi energy cooperation and is fully funded by Midad Energy. The company has dedicated $288 million  specifically for initial exploration activities. The contractual area is located about 100 kilometers south of In Amenas.

Chevron, Helleniq Energy Near Gas Deal Offshore Greece

• Monday, 13th October 2025
• by Fatma Ahmed

Chevron, one of the world's largest integrated energy companies, along with the Greek partner Helleniq Energy are about to conclude a deal for offshore hydrocarbon exploration before the end of the year, Reuters reported citing the Greece’s Energy Minister, Theodore Papastavrou.

Iraq Makes Progress in Oil Production, Associated Gas Investments

• Sunday, 12th October 2025
• by Fatma Ahmed

The Iraqi Ministry of Oil announced the increase of daily oil production at the Nasiriyah oil field to 80,000 barrels, after putting nine wells online, according to Iraq News Agency.

Production at the field remains stable across two active sites, B and E, with a total of 36 wells now in operation.

In parallel, the Minister of Oil Hayan Abdul Ghani disclosed that the associated gas investment rate surged to 74%, up from 53%, announcing the commencement of the Basra NGL 1 and NGL 2 projects, each with a planned processing capacity of 400 million cubic feet per day (mmcf/d).

ADNOC Distribution Targets Stations Expansion to 1,150 by 2028

• Sunday, 12th October 2025
• by Fatma Ahmed

During the Investor Majlis, ADNOC Distribution said that it aims to increase the size of its service station network to 1,150 by 2028, which is 15% more than the previous guidance of 1,000. This target reflects stronger performance across the company’s core business.

ExxonMobil Mulls Resuming Operations in Iraq

• Wednesday, 8th October 2025
• by Fatma Ahmed

ExxonMobil, a major energy company, is exploring the possibility of returning to operations in Iraq after nearly two years away by signing preliminary agreements to begin work on the Majnoon oil field in southern Iraq. The oil field, located about 60 kilometers north of Basra, is recognized as one of the world's most resource-rich fields, containing an estimated 38 billion barrels of oil.

Peru Targets Saudi, American, Ecuadorian Investments to Revive Energy Sector

• Wednesday, 8th October 2025
• by Fatma Ahmed

Peru's Energy and Mines Minister, Jorge Luis Montero, anticipates signing a memorandum of understanding (MoU) with Saudi Arabia in November to collaborate on lithium and other critical mineral projects. The minister plans to travel to Saudi Arabia next month alongside Peru's foreign minister to finalize broader economic agreements with Gulf nations as part of the country's major energy sector overhaul.

Shell Forecasts Higher Upstream Output in Q3 2025

• Tuesday, 7th October 2025
• by Fatma Ahmed

Shell projects upstream production of 1.79 to 1.89 million barrels of oil equivalent per day (mmboe/d) in the third quarter (Q3) of 2025, up from 1.73 mmboe/d recorded in the second quarter (Q2) 2025, according to a statement by the company. The company also expects liquefied natural gas (LNG) volumes to reach 7 to 7.4 million metric tons in Q3, compared to 6.7 million metric tons in Q2.

Integrated gas production is forecast at 910,000 to 950,000 barrels of oil equivalent per day (boe/d) in Q3, relatively flat compared to 913,000 boe/d in Q2. Trading is expected to be significantly higher than Q2 2025, though adjusted earnings will reflect losses of $0.2 to $0.4 billion due to rebalancing of participation interests in Brazil following the redetermination proposal for the Tupi field.

Eni Resumes Drilling in Offshore Libyan Block After Five-Year Hiatus

• Monday, 6th October 2025
• by Fatma Ahmed

Eni North Africa has resumed offshore exploration operations in Block 16/4, northwest of Libya, after more than five years of suspension. Eni North Africa is a regional subsidiary of the Italian energy giant Eni, and it is responsible for managing the company's oil and gas operations in North African countries, with a major focus on Libya. The company is re-entering the C1-16/4 exploratory well, also known as BESS-3, using Saipem's Scarabeo-9 rig to complete drilling to its planned final depth of 10,520 feet (3,200 meters).

OPEC+ to Increase Oil Output by137,000 bbl/d in November, Amid Steady Global Market Conditions

• Monday, 6th October 2025
• by Fatma Ahmed

Eight OPEC+ member countries—Saudi Arabia, Russia, Iraq, the UAE, Kuwait, Kazakhstan, Algeria, and Oman—have agreed to raise oil output by 137,000 barrels per day (bbl/d) in  November 2025. The Group increased output targets by more than 2.7 million barrels per day (mmbbl/d) this year.

In a virtual meeting held on October 5, the group cited a steady global economic outlook and healthy inventory levels as reasons for the adjustment. The November decision maintains the same modest monthly increase of 137,000 bbl/d that was implemented in October.

Eni Develops Coral North FLNG Project Offshore Mozambique

• Sunday, 5th October 2025
• by Fatma Ahmed

Eni and its partners China National Petroleum Corporation (CNPC), ENH, Kogas, and XRG have announced the Final Investment Decision (FID) for the Coral North Floating Liquefied Natural Gas (FLNG) project, located offshore in Cabo Delgado, northern Mozambique.