bp has reached an agreement with Sixth Street-managed funds for the sale of non-controlling interests in its Permian and Eagle Ford midstream assets. The transaction is valued at $1.5 billion and will be executed in two phases. Approximately $1 billion will be paid at signing, with the remaining amount expected by the end of the year, pending regulatory approvals.
Eni and PEEni and PETRONAS have signed a binding agreement to create a new joint venture (JV) company, NewCo, which will combine their upstream operations in Indonesia and Malaysia. The agreement was signed on the sidelines of the ADIPEC energy conference by Eni CEO Claudio Descalzi and PETRONAS President and Group CEO Tengku Muhammad Taufik.
TotalEnergies' Q3 2025 adjusted EBITDA jumped to $10.3 billion as net income surged 37%. CEO attributes strong results to accretive hydrocarbon production growth and improved downstream performance.
ExxonMobil reported earnings of $7.5 billion in the third quarter (Q3) of 2025 compared to $7.08 billion recorded in the second quarter (Q2) of 2025. The company stated that the improved earnings were driven by advantaged volumes, record production in Guyana and the Permian basin, structural cost savings, and stronger crude realizations.
ADNOC Distribution announced that it achieved the highest-ever earnings interest, taxes, depreciation, and amortization (EBITDA) of $319 million during Q3 2025, which is up 15.9% year on year (YoY), compared to $275 million in Q2 2025.
The company reported EBITDA of $885 million in the first nine months of 2025, increasing by 12% compared to $790 million in the same period in 2024.
QatarEnergy has signed an Engineering, Procurement, and Construction (EPC) contract with Samsung C&T Corporation for a landmark carbon capture and sequestration (CCS) project that will serve the company’s liquefied natural gas (LNG) production facilities in Ras Laffan Industrial City.
Iraq has signed a $450 million investment agreement with US-based Excelerate Energy to construct the country’s first floating storage and regasification unit (FSRU) at the port of Khor al-Zubair, officials told Reuters.
The facility will enable Iraq to import, store, and regasify liquefied natural gas (LNG), which will be integrated into the national power grid to strengthen the country’s energy security. The project’s total investment includes Excelerate’s newest FSRU vessel, currently under construction in South Korea, with a regasification capacity of up to 500 million standard cubic feet per day (mmscf/d).
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.
