Month: October 2026

Shell expects global LNG trade to remain flat in 2026 if shipping through the Strait of Hormuz returns to normal this summer but warns that a prolonged closure could result in a rare annual decline in LNG supply. The outlook comes as Qatar continues recovering from conflict-related disruptions.

ADNOC is proposing a new pricing methodology for Upper Zakum, Das and Umm Lulu crude that would link official selling prices to the Dubai benchmark rather than Murban futures. The move could simplify regional pricing comparisons as the UAE expands crude exports.

Eco Atlantic has received final ministerial approval for its Namibia PEL 98 farm-out while advancing additional exploration agreements in Namibia, South Africa and Guyana.

Eni has agreed to acquire a 32% stake in three Vaca Muerta blocks, joining YPF and XRG in advancing the Argentina LNG project and its planned 12-MMtpa floating LNG export development.

SandRidge Energy will acquire producing assets and leasehold interests in the Cherokee Play for $65 million, adding approximately 3,000 boed of production and expanding its Mid-Continent drilling inventory.

After a fresh round of U.S. and Iranian strikes raised new concerns over Strait of Hormuz shipping, Washington and Tehran are preparing to resume talks in Doha as oil markets weigh the prospects for a lasting de-escalation.

SBM Offshore has secured $465 million in financing for FSO Chalchi, the floating storage and offloading vessel that will support Woodside’s Trion deepwater development offshore Mexico.

Magnolia Oil & Gas has emerged as the leading bidder to acquire WildFire Energy in a deal valued at more than $4 billion, according to Bloomberg. If completed, the deal would significantly expand its Eagle Ford footprint and mark the company’s largest acquisition to date.

Monumental Energy and NZEC have developed a proprietary chemical formulation aimed at improving flow assurance and reducing wax buildup in New Zealand’s Taranaki Basin, with field pilot testing now planned.

Evolution Well Services has received ExxonMobil’s 2025 Supplier Excellence Award for its operational performance and electric hydraulic fracturing support in the Permian basin.