| | | | | | The US EIA predicts global crude oil prices will decline through 2026 and 2027 due to increased production outpacing demand, leading to rising inventories and market surplus conditions, with prices dropping to $53/bbl from $69/bbl. |
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| | | | Noting uncertainty at this preliminary stage, bp still expressed confidence in the discovery and its plan to begin an appraisal plan by yearend. |
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| | | Marathon Petroleum posted an increase in year-over-year net income to $4.0 billion, driven by strong refining margins and operational efficiency.. The company plans $1.5 billion in capital spending for 2026, excluding MPLX. |
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| | | | | | | | This 1.6-bcfd Southeast Supply Enhancement project is expected to provide natural gas to meet growing demand across the Mid-Atlantic and Southeast. In December, a separate expansion project on a similar path also received FERC approval. |
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| | The operator has signed a deal to look into oil opportunities offshore Morocco. Spending in the Gulf of Mexico will rise 10% this year to $330 million. |
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| | Venezuela's acting President signed new legislation to reduce state control over the oil industry, while the US Treasury issued General License 46, permitting more companies to engage in Venezuelan oil trade, though certain restrictions remain in place. |
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