Policy & Regulation
Alberta: Oil-rich province to vote on whether to separate from Canada
Alberta Premier Danielle Smith has announced plans for the oil-rich province to hold a non-binding vote in the fall on whether its residents wish to remain a part of Canada — or move ahead with a second binding vote on separation.
The move marks the first time in Canadian history that a province other than Quebec has put the question of separation to the public and comes after months of campaigning from a group of separatists.
Technology & Operations
AI Could Unlock $500 Billion for Oil and Gas Producers by 2030
ystad Energy estimates AI and digitalization could generate nearly $500 billion in cumulative value for upstream oil and gas companies between 2026 and 2030 through lower costs, higher production, and faster project development.
Companies & Earnings
PROINVERSIÓN plans to attract US$2.9bn in natural gas investments for the benefit of 11 regions
The Private Investment Promotion Agency (PROINVERSIÓN) expects to attract US$2.9 billion (bn) in investments in natural gas projects during the 2026–2027 period, with the aim of expanding access to this energy resource in 11 regions of the country and helping to improve the quality of life of thousands of Peruvian families.
US oil and gas lease sale in New Mexico and Texas raises more than $4bn
The sale was conducted under the Working Families Tax Cuts Act, which reduced the federal royalty rate on new onshore oil and gas production.
AI
Why oil and gas is becoming a data business
Because the next phase of the industry is not just about producing hydrocarbons more efficiently, it is about understanding markets, assets, infrastructure, and risk faster than competitors.
Artificial intelligence is rapidly moving beyond the oilfield itself and into the broader business of energy. Trading desks, logistics systems, pipelines, LNG exports, emissions management, cybersecurity, and capital allocation are all becoming increasingly data driven.
Unlocking Nuclear’s Potential with AI
Artificial intelligence could clearly benefit the US energy system but, an expert symposium concluded, it offers specific and transformational opportunities to its nuclear industry to rapidly deploy clean energy assets, secure critical networks and reduce the capital and operational costs of next-generation energy technologies
Exxon using AI for faster analysis of Guyana's oil fields, VP of exploration says
Exxon Mobil is using artificial intelligence and new technology to interpret seismic data from Guyana in days rather than months, John Ardill, the company's vice president of exploration, said on Tuesday. High‑performance computing and AI‑driven algorithms have accelerated seismic imaging, Ardill said at the Offshore Technology Conference in Houston.
Burgum touts AI data centers, calls Iran war ‘gift to the world’ in speech to oil industry
Interior Secretary Doug Burgum praised artificial intelligence, energy dominance and oil industry innovation in a winding speech to the oil and gas industry in Bismarck on Thursday.
While Burgum’s speech focused on domestic energy production, he also defended the Trump administration’s war in Iran and the “detour” it has taken. He said Iran’s government is a terrorist group that has led a “tyrannical reign” over its own citizens for decades, and the United States is the only country capable of taking action.
“It’s a gift to the world,” Burgum said.
Geopolitics
Qatari LNG tankers resume Hormuz transits despite tensions
The US Central Command said 55 merchant ships transited the strait on Saturday with more than 17 million barrels of oil for global markets
Rubio meets Modi during India visit with energy high on agenda
US Secretary of State Marco Rubio has held talks with Indian Prime Minister Narendra Modi in Delhi as part of a four-day visit to the country.
Rubio arrived in the eastern city of Kolkata (formerly Calcutta) on Saturday morning before travelling to the capital. He is also due to visit Jaipur and Agra.
Markets & Prices
Global Natural Gas Markets Are A Bigger Problem Than Oil Right Now
Iran struck Qatar's Ras Laffan Industrial City—the world's largest LNG export hub—with a barrage of missiles overnight this week, triggering fires across multiple liquefied natural gas facilities and causing what QatarEnergy called "extensive further damage" to a complex already crippled by earlier drone attacks.
Efficient Markets Hosts Record-Breaking Federal Oil and Gas Lease Sale, Generating Over $4 Billion in Sales
Efficient Markets is pleased to announce the results of yesterday’s Bureau of Land Management’s (BLM) online federal oil and gas lease sale in New Mexico and Texas for 74 parcels covering 33,529 acres. Multiple all-time high records were achieved, including the substantial aggregate high bids of $4,007,609,288, as well as the highest per-acre bid record at $357,129.
Bidding activity remained highly competitive throughout the sale, with 100 percent of parcels receiving multiple bids. A total of 61 unique, financially vetted bidders placed a combined 1,072 bids, with the highest per-parcel bid reaching $405,761,280.
The top three bidders paid a combined $3.9 billion, accounting for 98 percent of the total revenue, to acquire 39 parcels covering 27,665 acres, or 83 percent of the acreage offered.
Innovation
Why Big Oil Is Backing Away From Renewables
Over the past 20 years, the story seemed straightforward. Big Oil would gradually become Big Energy. Over time, oil majors would use their balance sheets, engineering expertise, and global project-management skills to build wind farms, solar projects, hydrogen hubs, carbon capture networks, and renewable power businesses.
How China is cashing in on a global scramble for offshore oil and gas
Though rising oil and gas prices are causing havoc in the global economy, they have proved a windfall for one sector: China’s vast offshore engineering equipment industry.
The increase in global fossil fuel prices over the past few years has sparked a surge in offshore investment, which has boosted the revenues of Chinese companies that make the heavy-duty machinery used to extract that energy – from floating oil rigs to wind turbine installation vessels.
What it takes to revive Venezuela’s oil and gas industry
International oil companies are unlikely to make major new investments in the country without greater legal and regulatory certainty, but it may be possible to modestly raise production through immediate steps.
Europe
EU economy chief rules out easing sanctions on Russian oil and gas amid energy crisis
Valdis Dombrovskis says Russia is exploiting Middle East turmoil for energy profits, and the bloc won't blink on its sanctions regime.
TotalEnergies eyes $100M+ stake sales in European solar and wind portfolio
TotalEnergies is considering selling 50% of some of its solar and wind assets in Europe as part of its strategy to partner with other companies in operating and monetizing its clean energy portfolio, Bloomberg reported on Friday, quoting anonymous sources with knowledge of the plans.
Oil and gas prices to remain high in Europe at least until the end of 2027, officials say
European Union officials said Friday that Europeans can expect oil and gas prices to remain above what they were before the Iran war for at least until the end of 2027, with prices of other goods also following an upward trajectory.
EU Economy Commissioner Valdis Dombrovskis said that higher energy prices are primarily responsible for driving inflation to a forecast 3.1% for this year and 2.4% for 2027. That’s significantly higher than the earlier forecast for this year of 1.9%.
UK to close tax loophole, targeting oil and gas firms' profits
British finance minister Rachel Reeves said on Thursday she would stop multinationals, including oil and gas firms, from reducing their tax liability by using corporate structures that involve foreign branches.
Drilling
Meet the Spanish company at the heart of Alaska’s oil industry revival
Josu Jon Imaz, a former member of European Parliament, runs Spain’s largest oil company. Recently, though, his focus has drifted thousands of miles from Madrid, to the far north.
Imaz’s company, Repsol, is one of several oil and gas businesses racing to drill in Alaska’s Arctic — where, after a decades-long decline in production, the industry is undergoing a stunning revival amid a push by the Trump administration to open new areas to development.
Upstream
Pauline Hanson reveals Norway-inspired oil and gas policy for Australia
One Nation's proposal would see commonwealth government take up 30% equity in new projects.