Thursday, 5 November 2026

Ukraine resumed attacks on Russian oil refineries over the weekend, threatening a fragile recovery in fuel supplies after months of strikes helped trigger Russia's worst gasoline shortages in decades, according to The Daily News Online.

Drones attacked the Yaroslavl Oil Refinery, one of Russia's five largest, overnight on November 3, according to RBC-Ukraine. Local residents reported at least three separate fires on the facility's premises.

Kyiv's forces also struck Ufa, home to three Rosneft PJSC refineries with combined processing capacity of about 470,000 barrels a day, as well as an industrial site in the Volga region where Lukoil PJSC's Norsi refinery is located, The Daily News Online reported.

Murphy Oil Corp. signed two production sharing contracts for the C-10 and Tiof blocks offshore Mauritania, according to World Oil. The blocks together cover about 3.1 million acres, or 12,500 square kilometers.

Murphy, through its subsidiaries, will operate both blocks with a 90% working interest. Société Mauritanienne des Hydrocarbures (SMH), Mauritania's national oil company, holds the remaining 10% as a carried interest, World Oil reported.

Talos Energy expects first oil from the Beacon-operated Monument Wilcox development in the first quarter of 2027, according to World Oil. Gross output from the project is expected to reach 20,000 to 30,000 boed.

Separately, Talos reported that its Daenerys appraisal well reached target depth and met its objectives, according to World Oil. The company expects additional appraisal activity at Daenerys in 2027, including a sidetrack.

Matador Resources posted record oil production of 132,019 barrels per day in the third quarter, according to World Oil, while drilling and completion costs fell to USD 804 per completed lateral foot.

The company attributed the production beat mainly to outperformance from new wells turned to sales during the quarter. A 12-well batch in the Ranger Asset area that came online earlier than expected also contributed.

Exploration and development activity on the Dussafu license offshore Gabon is continuing despite disruption caused by the sinking of the jackup Prospector 5, according to Offshore Magazine.

Work on the Bourdon field development within the same license remains on schedule, with first oil targeted for Q1 2028, the publication reported. The initial program comprises three production wells from a wellhead platform.

ADNOC has entered a multi-year AI partnership with OpenAI and G42, Offshore Magazine reported.

The first planned use case targets field master planning, which currently runs as separate subsurface, facilities, and economic studies. OpenAI reasoning models paired with ENERGYai reservoir-level intelligence will pull together data spanning thousands of wells, stacked reservoirs, and hundreds of surface facilities, folding in capital and commercial factors to produce a unified planning output.

A second application aims to link operational data across ADNOC's production, processing, refining, logistics, sales, and trading segments so the company can assess the worth of barrels still in the ground.

The three partners will also build a decision-support system running OpenAI's frontier models against ADNOC's proprietary industrial data, hosted on G42's sovereign AI infrastructure in the UAE, according to Offshore Magazine.

Global oil supply outpaced demand by 1.1 million b/d in September, according to JPMorgan estimates reported by Oil & Gas Journal. The bank attributed the shift to a recovery in Middle Eastern exports alongside softer demand.

JPMorgan projected the oversupply grew to 1.4 million b/d in October.

The assessment contrasts with the IEA's Oil Market Report, which put September at a supply deficit of about 790,000 b/d, a gap of nearly 1.9 million b/d between the two readings, Oil & Gas Journal reported.

Since the conflict began in late February, global oil demand has fallen by an estimated 3.3 million b/d, driven by elevated fuel prices and supply disruptions, according to JPMorgan's figures cited by Oil & Gas Journal.

The Stakeholder Democracy Network (SDN) has transferred the Nigerian Oil and Gas Industry Emission Tracker (NOGIET) to Nigeria's petroleum regulator, Galaxy TV Online and Real News Magazine reported.

The tool integrates satellite imagery, facility-level data and verified emissions records to support oversight of Nigeria's oil and gas sector. Regulators can cross-reference satellite-detected methane plumes against operator-reported measurements, helping to flag mismatches and attribute emissions to individual facilities or pipeline routes.

SDN built both the front-end and back-end of the platform and handed them to the regulator at no cost, according to Samiama, as cited by Galaxy TV Online and Real News Magazine.