Read the latest issue of World Oil | View In Browser     SATURDAY ROUNDUP   Dec 20, 2025

BRENT $60.08     West Texas Intermediate (WTI) $56.40     Henry Hub Natural Gas $4.01     Brazil, Guyana and Argentina drive non-OPEC crude growth into 2026, EIA says Brazil, Guyana and Argentina are set to drive nearly half of global crude oil production growth in 2026, according to the latest EIA outlook, underscoring the rising influence of non-OPEC+ supply from deepwater and shale developments. Read More   bp names Meg O’Neill as next CEO in leadership transition bp has named Woodside Energy CEO Meg O’Neill as its next chief executive, effective April 1, 2026, as Murray Auchincloss steps down. The leadership change signals a new phase for the supermajor focused on tighter financial discipline and accelerated strategic execution. Read More   Shell approves Kaikias waterflood to extend Ursa production in U.S. Gulf Shell has sanctioned a waterflood project at its Kaikias field in the U.S. Gulf, targeting an estimated 60 MMboe of additional recoverable resources and extending production from the Ursa hub into the next decade. Read More   $1.8-billion PPF project approved to revive previously produced fields at Ekofisk Partners led by ConocoPhillips and Vår Energi have sanctioned the Previously Produced Fields (PPF) redevelopment in Norway’s Greater Ekofisk area, approving up to $1.8 billion in investment to bring new subsea wells online from 2028 and extend production life at the mature hub. Read More   Engineering for the deep: Human support and rescue systems In the future, the need for reliable, compact, and compliant human support systems will only grow. As offshore industries transition into deeper waters and begin to intersect with emerging sectors, the importance of safety-focused engineering becomes even more paramount.  Read More     Harbour Energy expands North Sea footprint with $170 million Waldorf acquisition Harbour Energy will acquire Waldorf Energy’s UK North Sea assets for $170 million, expanding its oil-weighted production and raising its stake in the Catcher field to 90%. Read More   Seadrill wins new offshore drilling contracts in the U.S. Gulf and Angola Seadrill is adding new backlog with contract awards in the U.S. Gulf of America/Mexico and Angola, securing follow-on work for three rigs and extending operations into 2027 while avoiding idle time between campaigns. Read More   From injection to insight: Tracing efficiency in surfactant huff and puff How field trials provide new insights into fluid movement, recovery and EOR performance.  Read More   Chevron cuts Venezuelan oil prices after U.S. seizes tanker Chevron has lowered prices for Venezuelan crude sold to U.S. refiners after a tanker seizure in the Caribbean added pressure to an already weak Gulf Coast market. The move comes amid heightened U.S. enforcement actions and softer global oil prices. Read More       Weekly Rig Count Update     U.S. Rotary Rigs -10 rigs (change from 3/29) 542     Canada Rotary Rigs -17 rigs (change from 3/29) 185     International Rotary Rigs + 3 rigs (change fromFebruary 2019) 1073       Kurt Abraham Editor-in-Chief   Ivy Diaz Digital Editor     Mary Holcomb Digital Lead   Olivia Kabell Associate Editor

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