December 1, 2025 – Oil & Gas 360

Alberta government urges oil regulator to go soft on flaring

December 1, 2025

(Oil Price) – The provincial government of Alberta, Canada’s key oil and gas-producing province, has advised the Alberta Energy Regulator to go soft on imposing penalties for excess flaring, Reuters reported on Monday, citing documents it had obtained through access to information laws. The provincial government has urged the regulator to take a “softer” tone in communication with companies that are found to

Chevron takes 40% stake in TotalEnergies’ offshore Nigeria blocks

December 1, 2025

(World Oil) – TotalEnergies has strengthened its global exploration ties with Chevron following a new farmout agreement covering two offshore licenses in Nigeria’s West Delta basin. The company announced that its Nigerian subsidiary, TotalEnergies EP Nigeria, has agreed to transfer a 40% interest in exploration licenses PPL 2000 and PPL 2001 to Star Deep Water Petroleum Limited, a Chevron company. TotalEnergies will remain operator

Private equity pours $1.45 billion into UK renewable energy

December 1, 2025

(Oil Price) – UK energy company Low Carbon has raised as much as $1.45 billion (£1.1 billion) from CVC Capital Partners and other investors as private equity firms are increasingly backing renewables operations. CVC Capital Partners and Low Carbon’s existing shareholder Massachusetts Mutual Life Insurance Company participated in the funding, which will see CVC Capital Partners become the majority owner of

Ecopetrol to drill up to 430 wells under 2026 investment plan as upstream remains priority

December 1, 2025

(World Oil) – Ecopetrol has approved an investment plan of COP 22–27 trillion ($5.4–$6.7 billion) for 2026, maintaining capital levels similar to those projected for year-end 2025 while prioritizing upstream development and operational efficiencies. Roughly 70% of next year’s budget — about COP 17.2 trillion — will go to exploration, production, refining and transport activities aimed at sustaining output between 730,000

Targa strengthens Permian presence with $1.25 billion deal for midstream firm

December 1, 2025

(BOE Report) – Pipeline operator Targa Resources said on Monday it would buy Stakeholder Midstream in a $1.25 billion all-cash deal, expanding its processing capacity in the key Permian Basin. Dealmaking in the midstream sector has been picking up pace as companies look to cut costs or add scale and gain access to attractive oil- and gas-producing regions, as well

Petrobras trims $109 billion capex plan as lower oil prices pressure dividends

December 1, 2025

(World Oil) – Brazilian oil major Petrobras announced a 2% decrease in its next five-year investment plan to $109 billion, putting dividend payments in doubt at a time of lower oil prices. Shares fell. The state-controlled oil producer is caught between the government’s desire to grow the economy – especially ahead of a 2026 presidential election – and investors who demand high

Oil prices climb after OPEC+ reaffirms pause; supply risks in focus

December 1, 2025

(Investing) – Oil prices ticked higher on Monday, bolstered by OPEC+’s reaffirmation that it will hold output steady during the first quarter, as well as renewed supply concerns stemming from geopolitical tensions. Get the latest updates and insights on the biggest market-moving stories by upgrading to InvestingPro – get 60% off today. As of 08:20 ET (13:20 GMT), Brent oil futures expiring in March

Premium Content