OQ Group reported a net profit of RO 641 million ($1.6 billion) for 2025, up 25 per cent year on year. The result reflects the strength of its integrated business model and disciplined performance amid continued volatility in global energy markets.
Oman’s Ministry of Energy and Minerals announced the offering of five concession areas in the oil and gas sector for competition among local and international petroleum companies.
India's GAIL said it will assess curbing supplies to natural gas customers after a force majeure notice from long-term supplier Petronet LNG over constraints on vessels as conflict escalates in the Middle East.
Global oil and gas prices surged on Tuesday as the escalating U.S.-Israeli war with Iran disrupted energy exports from the Middle East, triggering supply fears and sending shockwaves through commodity markets.
Indian companies on March 3 reduced natural gas supplies to industries in anticipation of tighter supply from the Middle East after top producer Qatar halted production, four industry sources with knowledge of the matter said to Reuters.
OQ Exploration and Production (OQEP) reported 2025 revenue of $1.2 billion and EBITDA of $941 million (81% margin). Operating cash flow strengthened, and the company targets 300 kboepd production by 2030 while maintaining disciplined leverage and shareholder returns.
Benchmark Brent oil prices jumped above $119 a barrel on Thursday after Iran attacked energy facilities across the Middle East following Israel's strike on its South Pars gas field, a major escalation in the war. Meanwhile, Middle East benchmark Dubai and Oman premiums hit all-time highs at about $65 per barrel, according to trade sources and Reuters data.
TotalEnergies announces the start of production from the Quiluma field, in which the Company holds an 11.8 per cent interest alongside its partners Azule Energy (37.4 per cent, operator), Cabinda Gulf Oil Company (31 per cent) and Sonangol E&P (19.8 per cent).
Eni discovered two new gas structures, Bahr Essalam South 2 and 3, off Libya’s coast. Drilled near the Bahr Essalam field, they are estimated to hold over 1 trillion cubic feet (Tcf) of gas in place.
bp confirmed gas production start-up from Angola’s Quiluma field, part of the New Gas Consortium (NGC), operated by Azule Energy. This marks continued successful project launches and exploration achievements for the bp‑Eni joint venture.
