November 11, 2025 - Oil & Gas 360

Shell takes Venture Global LNG arbitration loss to NY Supreme Court

November 11, 2025

(Oil Price)– Shell has challenged an arbitration ruling against it in the long-running dispute with Venture Global over contracted LNG supply, alleging the U.S. LNG exporter withheld information to Shell and the arbitration court. Shell has challenged the arbitration decision at the New York Supreme Court, the supermajor told Reuters on Tuesday. Shell has sued Venture Global for selling LNG on the

Glenfarne, Baker Hughes Announce Definitive Agreements to Advance Alaska LNG

November 11, 2025

(BOE Report)– Alaska LNG, majority owned and developed by Glenfarne Alaska LNG, LLC (Glenfarne), and Baker Hughes (NASDAQ: BKR), an energy technology company, today announced a strategic alliance to advance the Alaska LNG Project. Glenfarne has selected Baker Hughes as its supplier for main refrigerant compressors for the LNG terminal and power generation equipment for the North Slope gas treatment

Governments race to secure Lukoil assets as U.S. sanctions deadline nears

November 11, 2025

(World Oil)– Governments across Europe and the Middle East are rushing to ensure the sprawling oil operations of Russian energy giant Lukoil PJSC can keep running after the U.S. Treasury sanctioned the company and then quashed a key bid for its assets last week. Russia’s second-largest oil company runs a vast international operation that includes oil fields, refineries and filling

U.S. sanctions push Indian refiners away from Russian crude

November 11, 2025

(Oil Price)– All but two Indian refiners have skipped placing orders for Russian crude for December after the U.S. sanctioned Russia’s top oil producers, Rosneft and Lukoil, sources with knowledge of the purchases told Bloomberg on Tuesday. India’s refiners, which have come to rely on cheap Russian crude in the past three years, have withdrawn from the December purchasing window which

Oil prices rise as investors balance sanctions risks, oversupply worries

November 11, 2025

(Investing)– Oil prices rose on Tuesday due to the impact of the latest U.S. sanctions on Russian oil, although oversupply concerns limited gains. Brent crude futures were up 67 cents, or 1.1%, to $64.73 a barrel at 1333 GMT. U.S. West Texas Intermediate crude was at $60.78 a barrel, up 65 cents, or 1.1%. Investors continue to assess the fallout from

Nigeria eyes 1.7 billion barrels in new oil supply

November 11, 2025

(Oil Price)– Nigeria could tap 1.7 billion barrels in new oil supply as well as 7.7 trillion cu ft of natural gas after the approval of 43 field development plans this year. The figures were reported by the chief executive of the Nigerian Upstream Petroleum Regulatory Commission, Gbenga Komolafe, as quoted by Nigerian media. The executive added that the field plans involved

India’s ONGC net profit slips 18% as oil prices drop

November 11, 2025

(Oil Price)– Indian state-owned Oil and Natural Gas Corporation Limited (ONGC), the biggest oil and gas explorer and producer in the country, booked a 17.8% decline in its net profit for the July-September quarter compared to a year earlier as lower oil prices dented crude realizations. ONGC reported $1.11 billion (98.5 billion Indian rupees) in standalone net profit for the second

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