OPEC said ministers from OPEC and partner producers met in Riyadh on 12 October alongside the International Energy Forum and World Petroleum Congress. They said disruptions to energy flows had pushed shipping and insurance above one-third of commodity value, hindering timely movement of crude and products.
Source: Organization of the Petroleum Exporting Countries (OPEC)
The two countries’ petroleum ministers signed a cooperation framework covering crude and product trade, storage, logistics, petrochemicals and potential joint investment.
Source: Egyptian Ministry of Petroleum and Mineral Resources
Iraq’s Ministry of Planning held a data-analysis course using seven quality tools for State Oil Marketing Organization (SOMO) staff from 5 to 11 October. The ministry’s 11 October announcement said 29 company employees took part.
Qatar and Saudi Arabia signed a memorandum in Riyadh on 11 October to establish a framework for cooperation across parts of the energy sector. It covers subjects ranging from oil and gas to renewable energy and carbon management. The agreement will take effect after legal procedures in both countries are completed.
EIA reported that 130 platforms and rigs had been evacuated or moved by October 8, suspending about 1.3 million barrels of oil and 1.1 billion cubic feet of gas per day.
Qatar News Agency, citing Kuwait Petroleum Corporation data, reported that Kuwaiti crude reached $108.10 per barrel in Thursday trading. That was a $4.89 increase from Wednesday’s $103.21.
The regulator says SLB supplied incorrect information on tender rankings and equipment in Norway’s continental shelf in its ChampionX acquisition filing.
The Norwegian oil and gas company announced a management structure due to start on 1 January 2027, with the new operating model to be developed through year-end.
Google Analytics can measure visits and site activity using cookies if you allow it. You can change your choice later.
Measurement and privacy details
Google Analytics measurement starts only if you allow it. After consent, automatic measurement may cover scrolls, outbound link clicks, downloads, video engagement, site searches and basic form interactions; search terms may be detected from URL parameters. This site’s own code does not send form field values; email redaction in automatic measurement is best-effort, not guaranteed. Our manual page-view event uses a cleaned URL. You can change your choice later. Visits that begin with consent may also send numeric LCP, INP and CLS performance measurements after Analytics loads. A first or later grant starts this on the next page load; withdrawing consent stops these performance reports for this page. The preference cookie lasts six months; advertising measurement and personalization stay off.
Your browser is sending a Global Privacy Control signal. Analytics is off by default; you may explicitly change this choice here.