Tsvetana Paraskova

Meta Description Equinor announced two significant gas and condensate discoveries in the Sleipner area of the Norwegian North Sea, with estimated recoverable reserves of up to 110 million barrels of oil equivalents that can be developed using existing infrastructure.

Uzbekistan's state oil and gas firm Uzbekneftegaz and US corporation Cargill have signed a cooperation agreement to attract up to $5 billion in long-term energy financing to strengthen the country’s energy security and sustainable development.

Upstream spending is expected to reach $41 billion in 2026 as countries like Nigeria, Angola, Senegal, Côte d’Ivoire, and Namibia court supermajors.

Edison, part of France's EDF Group, announced it will launch renewable power projects in Italy worth over $700 million to add more than 500 megawatts of wind and solar capacity, accelerating its goal to double its green capacity and reach a 40% renewable power generation mix by 2030.

The trend is accelerating across the Gulf and beyond, with blockbuster deals from ADNOC, Aramco, and Bahrain’s Bapco Energies now echoed in BP and Shell transactions.

Surging U.S. natural gas prices, driven by a polar vortex and record LNG exports, are making gas-fired power generation more expensive, prompting electric utilities to switch to cheaper coal and boosting coal production.

China's oil demand, particularly for road transportation fuels, is expected to remain weak until at least mid-2026 due to the surge in electric and LNG vehicles, with the petrochemical sector also struggling with overcapacity.

Saudi Arabia has launched production at the $100 billion Jafurah natural gas field, the largest unconventional gas development outside the US, as part of a major plan to boost its gas processing capacity.

TotalEnergies, TES, and Japanese firms Osaka Gas, Toho Gas, and ITOCHU are partnering to develop the Live Oak project in Nebraska to produce electric natural gas (e-NG) from renewable hydrogen and biogenic CO2.

TotalEnergies, TES, and Japanese firms Osaka Gas, Toho Gas, and ITOCHU are partnering to develop the Live Oak project in Nebraska to produce electric natural gas (e-NG) from renewable hydrogen and biogenic CO2.