Petrobras: Oil and gas production grows 17.3%
Petrobras produced an average of 4.54 million barrels of oil and gas equivalent per day in the third quarter of 2025, 17.3% more than in the same period last year, the company reported
Category: Production
US sanctions Russian oil majors over Ukraine, prompting jitters in India and China
U.S. President Donald Trump hit Russia’s two biggest oil companies with sanctions in a sharp policy shift on Moscow’s war in Ukraine, prompting global oil prices to rise by 5% and India to consider cutting Russian imports
GeoPark to invest USD 14.5 million in Vaca Muerta
The governor of Neuquén authorized Pluspetrol to cede to GeoPark 100 % of its stake in the exploitation concession at Puesto Silva Oeste and in the natural gas transport concession from Puesto Silva Oeste to Neuba II
IEA estimates output surplus of 1.9 mbd since the beginning of the year
The International Energy Agency estimates that the oil production surplus, given the rapid increase in crude entering the market from OPEC+ and a slowdown in demand growth, has averaged 1.9 million barrels per day since the beginning of the year
U.S. announces new sanctions against Iranian oil
The US issued new sanctions targeting Iran’s oil exports, including measures against a Chinese “teapot refinery,” as the Trump administration seeks to ramp up pressure on Tehran
OPEC+ to increase its output in November
The OPEC+ alliance, led by Saudi Arabia and Russia, has agreed to a new increase in crude oil production for November of 137,000 barrels per day, marking its eighth consecutive monthly increase
Argentina gains support of 8 countries in the YPF case in the U.S.
USA, Israel, and Ecuador each submitted their filings to the U.S. Court of Appeals for the Second Circuit in New York, while Chile, Italy, Uruguay, Romania, and Ukraine jointly submitted their filing
Three Argentine provinces appear before U.S. court in YPF case
The filing before the U.S. Court of Appeals for the Second Circuit was made Monday by the provinces of Mendoza, Chubut and Santa Cruz, which, as oil producers, are shareholders in YPF
Repsol boosts U.S. presence with launch of oil production in Leon-Castile
Spanish oil company Repsol has begun producing oil in the Leon-Castile basin in the state of Louisiana, strengthening its footprint in the United States, a key region in its 2024–2027 strategic plan
Russia cuts gas production and export forecasts
Russia has lowered its gas production and export forecasts while raising oil export projections for 2025, as the fallout from the war in Ukraine and strained relations with the West continue to weigh on its energy sector