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Mexico's Pemex proven reserves down 40% since 2014
Mexican state oil firm Petróleos Mexicanos (Pemex) reported that proven oil and gas reserves sat at around 7.47bn barrels of crude oil as of December 31, 2025, marking a 40% decrease from 2014.
President-elect faces three pivotal decisions on Colombia's Ecopetrol
Colombia's president-elect, Abelardo de la Espriella, will need to decide the direction of state oil company Ecopetrol on fracking pilots, the future of power transmission group ISA, and gas imports from Venezuela once he takes office
Australia needs more support for gas supply and infrastructure, says industry lobby
Australian oil and gas industry group Australian Energy Producers has called for policies supporting new gas supply and infrastructure after the country’s electricity market operator forecast a greater need for flexible gas-fired generation.
Woodside takes ExxonMobil's place in Australia's Gippsland oil and gas basin
Australian oil and gas producer Woodside Energy has taken over as operator of the Gippsland Basin assets off Victoria from Esso Australia Resources, the Australian subsidiary of US energy major ExxonMobil.
Australia's Beetaloo reports good gas well tests at Carpentaria in Northern Territory
Testing of Carpentaria-5H began on June 11, with the well initially flowing at more than 14 TJ per day, before settling at an average of 7 TJ per day.
Equinor dishes out $612mn in contracts as part of next wave of its upstream development plans
Equinor has awarded contracts worth around NOK6bn for four subsea tie-back projects, launching the first wave of a broader effort to cut development costs and timelines on the Norwegian continental shelf.
Brazil's Venture Offshore secures more work for rig offshore Indonesia with Italy's Eni
Brazilian deepwater drilling contractor Ventura Offshore has secured additional work worth about $25.1mn for its SSV Catarina semi-submersible rig offshore Indonesia.
Italy's Saipem scores $2bn FSRU contract offshore Indonesia
Italy’s Saipem has secured a contract worth around $2bn for its share of work on a new floating production, storage and offloading unit for the Kutei North Hub development offshore Indonesia.
Shell raises Q2 production guidance on strong gas trading
Shell has raised its second-quarter production guidance for its integrated gas and upstream divisions and expects gas trading results to improve significantly, even as the Middle East conflict curbs volumes from Qatar.
South Africa's Eskom in talks with Transalloys over power tariff relief as manganese smelter warns of closure
Eskom is negotiating with South African manganese smelter Transalloys over electricity tariff relief after the company warned it could close by end-July, threatening 600 direct jobs.
Uganda farmers file UK lawsuit seeking to halt $5.6bn EACOP oil pipeline
Four Ugandan farmers have filed a case at the UK High Court seeking to stop crude oil from flowing through the $5.6bn East African Crude Oil Pipeline (EACOP).
Nationwide power outage hits Zimbabwe, supplies restored
Zimbabwe suffered a nationwide power outage on the evening of July 6 following a technical fault, although electricity supplies were largely restored by 2200 local time (2000 GMT), state-owned utility ZESA Holdings (ZESA) said.
ADNOC Distribution to buy Shell South Africa fuel network for $1bn
ADNOC Distribution has agreed to acquire Shell Downstream South Africa for $1bn, gaining 580 fuel stations and expanding its African retail footprint.
Russian drone strike hits SOCAR fuel depot in Ukraine, Azerbaijan summons Russian ambassador
TotalEnergies to partner in Iraq-Baniyas oil pipeline project
France's TotalEnergies is set to become a partner in a project to extend and rehabilitate an oil pipeline linking Iraq to Syria's Mediterranean port of Baniyas.
Iraq reiterates commitment to OPEC+ cooperation on oil market stability
Iraq has reaffirmed its commitment to continued cooperation within the OPEC+ alliance after participating in a meeting of member countries implementing voluntary oil production cuts.
Latin American countries import 55% more LNG from US in June
US liquefied natural gas exports to Latin America and the Caribbean hit a 37-month peak in June, reaching 48.84bn cubic feet (1.38bn m3), S&P Global reported.
Ukraine expands wind power despite wartime challenges
Ukraine commissioned 70 wind turbines with a combined installed capacity of 414.8 megawatts (MW) during the first half of the year, underscoring the resilience of the country's renewable energy sector despite repeated attacks.
Trinidad and Tobago oil sector projected to make rampant recovery by 2029
Trinidad and Tobago's oil output is forecast to climb to 74,600 barrels per day (bpd) by 2029, Energy and Energy Industries Minister Dr Roodal Moonilal announced, representing a notable reversal after years of production decline.
Guyana leads Latin American offshore drilling activity in first half of 2026
Latin America's offshore drilling activity remains concentrated in Guyana even as the region trails a decade-long downward trend, a report by the Energy Chamber of Trinidad and Tobago showed.
Bolivia rolls out emergency decree package on fuel, trade, pensions after currency float
Bolivia's government has enacted a package of supreme decrees covering fuel, trade, electricity, pensions and mining, published in the Official Gazette on July 1.
China’s tepid demand, rising global supply could cloud Iran’s oil export revival
Iran could struggle to cash in on the temporary easing of US restrictions on its oil exports as weakening Chinese demand and rising global supply threaten to limit sales beyond its traditional customers, energy analysts said.
S&P warns Middle East conflict poses uneven risks across GCC economies
The economic and credit impact of the Middle East conflict will vary significantly across Gulf economies and industry sectors, with tourism, transportation, logistics and energy among the most vulnerable, S&P Global Ratings said on July 7.
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