Drilling & production

Petrobras discloses its proved reserves of oil, condensate and natural gas, according to SEC (US Securities and Exchange Commission) regulation, estimated at 12.1 billion boe, as of December 31, 2025.

As Angola reinvigorates its onshore basins through regulatory reform and flexible licensing, independent oil and gas companies are stepping forward to drive a new wave of inland exploration and production growth.

Superior Energy Services announces entry into definitive agreements to acquire Abaco Energy Technologies.

Single-day freeze-off reaches 17 billion ft3 on 25 January 25, approaching Winter Storm Uri levels as intense cold drives historic price spike.

This agreement sets new fiscal terms allowing to increase the production of these concessions that are currently producing around 370 000 boe/d.

Recent actions by the Syrian government could pave the way for increased oil and gas production this year and beyond, according to a recent insight from Wood Mackenzie.

Investment to fall as Norway projects unwind while UK faces lowest spending in over 50 years.

Chevron’s South N’dola Platform in Angola delivered first oil in December. The milestone comes just over two years after construction on the platform began.

Petrobras announces that, in 2025, its oil production reached 2.40 million bpd, exceeding the upper limit of the target (+4%) set in its 2025 - 2029 Business Plan by 0.5 percentage points.

CNR International fined £250 000 for excessive venting; NEO fined £100 000 for attempting well abandonment without consent.

Equinor has been awarded 35 new production licenses by the Ministry of Energy in this year's APA, Awards in Predefined Areas.

Venezuelan production recovery faces decade-long timeline despite near-term supply gains, Wood Mackenzie finds.

Estimates indicate 600 billion ft3 of gas initially in place (GIIP) with a potential upside beyond 1 trillion ft3.

With Congo LNG Phase 2 starting operations, Congo is gearing-up for accelerated upstream growth.

US Lower 48 rig count to fall below 500 while gas assets drive M&A rebound in 2026.