At the Gastech Exhibition and Conference in Milan, Baker Hughes unveiled a plan to allocate around EUR 300 million over the next five years to upgrade and expand its facilities and plants in Italy. The initiative is intended to address the growing global demand for the company’s technology solutions that promote safe, reliable, and sustainable energy production.
The International Energy Agency (IEA) forecasted a rise in global oil production by 2.7 million barrels per day (mmbl/d), to record 105.8 mmbl/d in 2025, as a reflection of the OPEC+ decision to ease back its earlier oil production cuts.
Halliburton has launched the Turing® electro-hydraulic control system, the latest updates of its SmartWell® intelligent completions technology. Designed for a wide range of completion applications, the system establishes a new benchmark in reservoir flow management, enabling higher recovery while lowering the number of wells required.
Woodside Energy Trading Singapore Ltd and PETRONAS LNG, a subsidiary of Petroliam Nasional Berhad (PETRONAS), have signed a fully termed sale and purchase agreement (SPA) for the delivery of 1 million tons per annum (Mtpa) of liquified natural gas (LNG) to Malaysia starting in 2028, for 15 years.
UAE-based ADNOC Gas plc stated that its shares will be included in the FTSE Emerging Index, part of the FTSE Russell Global Equity Index Series (GEIS), effective at market open on September 22, 2025. Market analysts estimate that the inclusion could attract up to $250 million in additional investment flows. The inclusion will boost its visibility among international institutional investors, broaden its shareholder base, and improve liquidity on the Abu Dhabi Securities Exchange (ADX).
The eight OPEC+ countries have decided to continue to increase oil production in October by 137,000 barrels per day (bbl/d), which is lower than the increases of September and August of by about 555,000 bbl/d, according to a statement released by OPEC.
The State Oil Marketing Organization (SOMO) revealed that it entered into negotiations with ExxonMobil seeking a deal for more storage space in Singapore, according to Iraq News Agency (INA).
TotalEnergies has signed a Production Sharing Contract (PSC) with South Atlantic Petroleum (SAPETRO) for two offshore exploration licenses in Nigeria. Under the deal, TotalEnergies will operate the licenses with an 80% interest, while SAPETRO holds the remaining 20%.
Saudi Aramco and Iraq's State Organization for the Marketing of Oil (SOMO) have halted selling crude oil to India's Nayara Energy, to align with the sanctions imposed by the European Union on the refinery. This is due to its majority bring owned by Russian companies, including Rosneft, Reuters reported.
TotalEnergies, along with its partners QatarEnergy, and Congo’s national oil company Société Nationale des Pétroles du Congo (SNPC), have secured the Nzombo exploration license in the Republic of the Congo.
