Shell U.K. and Equinor UK have finalised an agreement to combine their UK offshore oil and gas operations into a single company, Adura, marking a major structural shift in the North Sea energy sector. The new joint venture, launched yesterday, becomes the largest independent producer operating in the UK North…

Brazilian oil major Petrobas has announced a 2 per cent decrease in its next five-year investment plan to US$109 billion, in a move to protect its cash flow amid lower international oil prices. Petrobas will direct US$91 billion of the total capital expenditure to projects under implementation and US$18 billion…

OPEC+ has officially confirmed a pause in production hikes for the first quarter of 2026, opting for caution in the face of a looming market surplus and escalating geopolitical uncertainties involving Russia-Ukraine peace talks and US-Venezuela tensions. This decision, announced following recent ministerial meetings, prioritises optionality over new production commitments,…

The Australian government’s landmark environmental law reforms are set to pass Parliament this week after striking a deal with the Greens, in what ministers hail as a “new era” for environmental protection and national productivity. However, the nation’s gas producers have condemned the agreement as a blow to energy security…

Northern Gas pipeline owner Jemena has released details of its strategy to bring Beetaloo Basin gas to the east coast gas market. Jemena’s Northern Territory Gas Strategy will utilise existing infrastructure to transport Beetaloo gas to the east coast from as early as 2026, a move that the company says…

The Australian government is seeking feedback on reforms to decommissioning and financial assurance arrangements for the offshore oil and gas industry. The government released a consultation paper that outlines proposed reforms to strengthen the decommissioning framework. Australia has up to AU$60 billion of offshore oil and gas decommissioning activities expected…

Exxon Mobil has suspended its plans to build a major hydrogen production facility due to weak customer demand, CEO Darren Woods told Reuters in an interview. Exxon announced plans in 2022 to build what would be one of the world’s largest hydrogen production facilities capable of producing one billion cubic…

India’s three state-run oil companies have signed their first long-term contract to import liquefied petroleum gas (LPG) from the United States, marking a milestone in the country’s efforts to diversify its energy supply. Indian Oil Corporation (IOC), Bharat Petroleum Corporation Ltd (BPCL), and Hindustan Petroleum Corporation Ltd (HPCL) will collectively…