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Rigzone Recent News

1. Crude Jumps on Iran War Escalation

   Oil prices surged as conflict disrupted Hormuz shipping and refinery operations.

2. Gas Surges as Qatar Shuts World's Largest LNG Export Plant

   Qatar shut down liquefied natural gas production at the world's largest export facility after it was targeted in an Iranian drone attack.

3. Talos Plans Appraisal Well for 'Game Changer' Find in Q2

   In a statement sent to Rigzone back in August last year, Wood Mackenzie said the Daenerys discovery is a 'game changer' for Talos in the Gulf of America.

4. Seplat Expects 10 Percent Increase in Annual Output

   'We benefitted from successful execution of several key offshore activities that kick-started life for Seplat as an offshore operator, while at the same time delivering onshore production performance that was the strongest in recent memory'.

5. Equinor Discovers More Oil around Snorre offshore Norway

   Equinor made an oil discovery near the Snorre field, on Norway's side of the North Sea, that could be rapidly developed as a tieback to existing infrastructure in the area.

6. Hopes for Suez Canal Revival Dashed

   Shippers are once again avoiding the Suez Canal as the U.S. and Israel are locked in a war with Iran.

7. Petronas Posts Lower Annual Profit

   Malaysia's national oil and gas company reported around $11.6 billion in profit after tax for 2025, down from 2024 on lower sales volumes and prices.

8. OPEC+ Decides to Boost Production

   'There is... a risk that the OPEC+ decision is moot', Alan Gelder, SVP of Refining, Chemicals and Oil Markets at Wood Mackenzie, said.

9. Israel Pauses Leviathan Gas Production

   Chevron declared force majeure at the Leviathan natural gas and condensate field offshore Israel on the order of the government.

10. Oil Could Pass $100 as Strait of Hormuz Traffic Halts

    Higher oil and gas prices are certain, Wood Mackenzie said.