Business/economics
An update on SPE’s path to financial sustainability: stronger revenues, new partnerships, and emerging opportunities—from geothermal initiatives to AI-driven licensing—are improving the outlook. While challenges remain, recent progress highlights a more resilient Society and a forward-looking strategy focused on long-term member value.
Since the US arrested and removed Venezuelan President Nicolás Maduro on 3 January 2026, all eyes have turned toward the country’s vast oil reserves, the largest of any country. From 2005 to 2024, oil production in Venezuela fell by 70%, from 3.1 million B/D to just 0.9 million B/D. The race is on to bring production back, but aging infrastructure and expatriation pre…
Corporate consolidation and foreign buyers helped drive $38 billion in upstream deals in the first quarter of 2026.
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AI‑driven data center growth is straining US power grids and accelerating interest in enhanced geothermal systems as a scalable, low‑carbon solution. -
The acquisition establishes a unified North American upstream analytical data set with the goal of streamlining capital allocation decisions.
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Opening day remarks from President Mohamed Irfaan Ali framed fossil fuels and renewables as parallel systems amid rising demand and structural supply pressures.
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The UAE will prioritize national interests and production flexibility, setting up implications for OPEC’s market power, oil, prices, and global supply dynamics.
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Talos Energy founder Tim Duncan has been named executive chairman of newly formed 1947 Oil & Gas, which will focus on acquiring and developing mature, shallow-water assets through its buyout of Renaissance Offshore. The deal is expected to close in Q2 2026.
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Operators aren’t rushing to drill, even as the closure of the Strait of Hormuz drives oil prices up.
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Drilling experts recently shared candid views on what will be required for their segment of the upstream business to move to the next stage of development.
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EQT is benchmarking its way to basin-leading productivity and relying on partnerships and new technology to turn KPIs into operational reality.
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In partnership with OTC 2026, Rystad Energy has shared its latest outlook for the offshore sector and the role it is expected to play in supplying low-cost barrels through 2050.
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The paper describes the revalidation of a deepwater prospect that resulted in a no-drill decision.
