December 9, 2025 – Oil & Gas 360

ExxonMobil raises 2030 plan, lifts upstream outlook without boosting capital

December 9, 2025

(World Oil) – ExxonMobil has raised its corporate outlook through 2030, increasing expected earnings and cash flow growth without raising capital spending, driven by stronger upstream performance, lower operating costs and continued gains from advantaged assets. The supermajor now expects $25 billion in earnings growth and $35 billion in cash flow growth by 2030, up $5 billion for each metric versus

U.S. Army looks to build small refineries for critical minerals

December 9, 2025

(Oil Price) – The U.S. Army will develop small-scale refineries to ensure domestic supply of critical minerals for defense and military purposes as the United States and the Western allies look to reduce their dependence on China. “We need to come up with a way to ‌make our own (critical minerals) domestically that we can actually monitor and control within our

Exclusive-US bank floats plan to repay US investors via Lukoil asset sale, sources say

December 9, 2025

(Investing) – LONDON – U.S. investment bank Xtellus Partners has proposed to the U.S. Treasury that proceeds from the sale of Lukoil’s foreign assets be used to repay American investors who lost money when Russia’s war in Ukraine froze their Lukoil stock holdings, sources said. U.S. asset managers including BlackRock, JP Morgan and Goldman Sachs lost billions of dollars when they had to first freeze and

U.S. solar installations soar as developers rush to secure tax credits

December 9, 2025

(Oil Price) – The U.S. solar market saw a significant jump in capacity installations in the third quarter as developers ramp up activity and construction to qualify for the last investment tax credits that are being phased out by the Trump Administration. The industry added 11.7 gigawatts direct current (GWdc) of solar power capacity in the third quarter of 2025, up

Canada’s newest oil tycoon shakes up sector with bold expansion plan

December 9, 2025

(BOE Report) – Canadian banker-turned-oil-tycoon Adam Waterous, an industry outsider who lives in a Rocky Mountain tourist town, not energy hub Calgary, has a plan to cement his company’s status as one of North America’s fastest-growing oil companies. Waterous intends to more than double crude production by Strathcona Resources and expand more aggressively than any of its rivals after the company’s hostile

Shell explores partner sale for Brazil offshore Gato do Mato oil project

December 9, 2025

(World Oil) – Shell Plc is looking to sell a 20% stake in a Brazilian oilfield cluster to help fund the multibillion-dollar offshore development, according to people familiar with the process. The UK supermajor agreed to acquire TotalEnergies SE’s stake in the cluster earlier this year through an asset swap, and is looking to raise money while remaining operator, said the

Oil falls 2% as Iraqi oilfield production restored, Ukraine talks continue

December 9, 2025

(Investing) – HOUSTON – Oil prices slipped 2% on Monday after Iraq restored production at one of its oilfields which accounts for 0.5% of world oil supply, while investors weighed ongoing talks to end the war in Ukraine. Brent crude futures were down $1.26, or 1.98%, at $62.49 a barrel, while U.S. West Texas Intermediate crude was at $58.88, down $1.20, or 2%. Iraq

Premium Content