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PetrusChina's reduction in oil imports and its substantial reserves are having a noticeable impact on the global oil market, helping to stabilize prices amid geopolitical conflicts. The country's changing demand structure is strengthening China's role in managing the global balance.
PetrusSeven OPEC+ countries have decided to keep oil production levels unchanged for October amid ongoing geopolitical tensions and challenges in the Persian Gulf region. Against this backdrop, global oil prices continue to rise.
PetrusMISC reports steady growth in the global FPSO market amid increased offshore activity and new contracts. In the second quarter of 2026, operating profit rose by 56.1%, while revenue increased by 76.1%.
PetrusIn 2024, oil and condensate production in Kazakhstan is expected to decrease by nearly 4% due to drone attacks on export infrastructure and the early shutdown of production at the Tengiz field. Authorities do not anticipate a return to the record output levels of previous years until 2026.
PetrusAmerican company Continental Resources and Swiss firm Mercuria are each acquiring a 50% stake in Phoenix Global Resources, with plans to boost production at the Vaca Muerta field and invest over $4 billion in Argentina. The financial details of the deal have not been disclosed.
PetrusContinental Resources and Mercuria Energy Trading are each acquiring a 50% stake in Phoenix Global Resources to jointly develop shale oil production in Argentina. The partners plan to increase investment and output at the Vaca Muerta field, investing over $4 billion in the next five years.
PetrusKazakhstan has announced a new auction for the exploration of more than 20 major oil and gas fields, despite low interest in previous tenders. Applications are open until October 5, and the online auction will take place on November 18.
PetrusOver the next five years, investments in 22 offshore oil and gas projects in Nigeria could reach $50 billion. This is expected to boost production, create jobs, and strengthen the country's energy security.
PetrusHigh market volatility and geopolitical conflicts are keeping oil prices elevated, which supports the growth in production and profits for Diamondback Energy. The company has updated its forecasts and achieved record results, despite ongoing uncertainty about the timeline for global supply recovery.
PetrusBP has completed the expansion of the Atlantis platform in the Gulf of Mexico ahead of schedule and at lower costs, which will allow oil production to increase by 10,000 barrels per day. This project strengthens the company's position in the region and extends the operational life of one of its key assets.
PetrusIn the second quarter of 2026, Shell reported profits that significantly exceeded analysts’ expectations, driven by high oil and gas prices, record refinery utilization, and successful trading operations. The company also announced a new share buyback program and continued to reduce its costs.
PetrusBP has agreed to sell a 15% stake in its subsidiary that manages oil and gas fields in the Kirkuk region to the Turkish state company Turkish Petroleum. This deal expands BP and TPAO’s cooperation in Iraq and strengthens their strategic partnership.
PetrusTalos Energy is acquiring a 50% stake in an oil project on the Mexican coast from Repsol for $50 million, gaining participation in a block with reserves exceeding 200 million barrels. The deal is subject to regulatory approval.
PetrusOil prices have dropped significantly following the temporary halt in military actions between the US and Iran, raising hopes for a de-escalation of the conflict. However, risks of supply disruptions and market uncertainty remain.
PetrusSouth Korean company Hanwha Ocean is implementing a standardization strategy for floating production storage and offloading units (FPSOs) to increase efficiency and shorten project delivery times. The company is strengthening its position in the global market, reporting significant profit growth and participating in new offshore projects.