Monday, 9 November 2026

Jumbo Offshore has finished its transport and installation scope for the Vaca Muerta Oil Sur project in Argentina, according to World Oil.

Working under contract to Altius S.A., Jumbo used its DP2 heavy-lift vessel Jumbo Javelin to transport two catenary anchor leg mooring (CALM) buoys weighing about 340 tonnes each and two pipeline end manifolds weighing up to 232 tonnes. The company successfully installed both pipeline end manifolds and discharged the buoys offshore in Argentina.

ONGC Videsh (OVL) expects to secure operatorship rights for two Venezuelan oil projects within three to six months, according to Livemint, citing remarks by Oil and Natural Gas Corporation (ONGC) finance head Anupam Agarwal.

The company is in advanced discussions with Venezuelan and US authorities about the operatorship rights, Agarwal said during an analyst call, according to Livemint citing a Reuters report.

OVL holds a 40% participating interest in the San Cristobal project through a joint venture with PDVSA and expects to become its sole operator and sell its output. It also aims to secure joint operatorship of PetroCarabobo, in which it holds an 11% stake.

The proposed agreements would give OVL greater control over field operations, production, marketing, and revenue handling at the two projects.

Algeria produced a record 134.3 billion cubic meters of gas in 2025, according to Ecofin Agency, even as domestic demand squeezed exports.

Separately, natural gas output at the Kelameili field in Xinjiang Uygur Autonomous Region exceeded 1 billion cubic meters as of Saturday, the Global Times reported.

On the spot market in Türkiye, 1,000 cubic meters of natural gas cost 20,395 liras on Friday, according to a report carried by the country's state news wire.

Disruptions to liquefied natural gas (LNG) trade through the Strait of Hormuz could tighten global natural gas supplies during the winter heating season, the International Energy Agency (IEA) warned in a report, according to ANI News.

LNG loadings from Qatar and the United Arab Emirates fell by 60 billion cubic metres (bcm) year-on-year during March to October, the IEA report found. The drop drove a 5%, or 20 bcm, decline in global LNG output over the same period, as new projects elsewhere only partially offset the lost Persian Gulf volumes.

Global LNG supply could decline by a further 10 bcm to 25 bcm year-on-year during the November to March period, depending on how quickly shipments through the Strait of Hormuz recover, the report said, according to Asianet Newsable.

New and legacy projects outside the Persian Gulf could contribute slightly more than 20 bcm of incremental winter supply year-on-year, the IEA said. That extra output would remain insufficient to compensate for the volumes lost from Qatar and the United Arab Emirates, according to the report.

WTI and Brent crude both fell more than 12% over the week, according to multiple reports, marking crude oil's steepest weekly decline since April 2020. The sell-off came amid hopes of policy shifts following the US midterm elections, according to Punjab Kesari and ETV Bharat.

Gold moved in the opposite direction, surging nearly 4.5% for its strongest weekly gain since August, according to Telangana Today.

A seismic survey vessel operated by Turkish Petroleum Offshore Company (TPOC) is due to arrive in Karachi between November 17 and 20 to conduct surveys in Pakistan's Eastern Offshore Indus Block, according to Daily Times.

The Eastern Offshore Indus Block venture is held by a consortium of four companies. Pakistan Petroleum Limited (PPL) owns the largest share at 35%, followed by TPOC at 25%, according to the report. Oil and Gas Development Company Limited (OGDCL) and Mari Energies each hold 20%.

Iran's Revolutionary Guard has removed the self-imposed cap on the range of its ballistic missiles, hinting at potential development of longer-range capabilities, according to the Associated Press.

Gen. Hossein Mohebbi, a Revolutionary Guard spokesman, confirmed the change at a Tehran news conference. "That restriction has been lifted for us," Mohebbi said, according to the AP.

Mohebbi did not say whether Iran already possesses missiles capable of exceeding the former limit. He said only that Iran would "demonstrate these capabilities in practice" rather than make statements, the AP reported.

Three workers have died following an explosion and fire at Oil India Limited's Intermediate Tank Farm in Tengakhat, in Assam's Dibrugarh district, after two critically injured workers succumbed to burn injuries in hospitals, according to Hindustan Times and the Economic Times.

The blast struck during maintenance work at the facility and was followed by a fire, the public sector company said, according to National Herald India. Nine workers were at the site when the accident occurred; seven sustained injuries, including one worker who died on the day of the explosion, National Herald India reported.

Three other injured workers remained in critical condition, an official said, according to National Herald India.