Reports related to this article:
Project(s): View 1 related project in PECWeb
Plant(s): View 1 related plant in PECWeb
Released December 01, 2025 | SUGAR LAND
en
News highlights gathered by Industrial Info and IIR Energy (Sugar Land, Texas) dealing with the energy markets.
PRODUCTION
U.S. Drillers Cut Oil Rigs to Lowest in Four Years - U.S. energy firms last week cut the number of oil and natural gas rigs operating for the first time in four weeks, with oil rigs dropping to a four-year low, energy services firm Baker Hughes (Houston, Texas) reported. The oil and gas rig count fell by 10 to 544 in the week to November 26, the lowest since September. Baker Hughes said oil rigs fell by 12 to 407 last week, their lowest since September 2021, while gas rigs rose by three to 130, their highest since July 2023. In Texas, the biggest oil- and gas-producing state, the rig count fell by eight to 226, the lowest since July 2021. (Reuters)
Petrobras Cuts Five-Year Investment Plan - Brazilian state-run oil firm Petrobras' (Sao Paulo) five-year investment saw its first cut under President Luiz Inacio Lula da Silva's government due to lower oil prices, three sources familiar with the matter told Reuters ahead of the fact. The new plan, set to be unveiled last week, is set to have a capital expenditure about 2% lower than the previous US$111 billion plan for the 2025-29 period, dropping to around US$109 billion, the sources said, adding that a final decision is still set to be made by the board. (Reuters)
LNG
Woodside, East Timor Aim for 2032 LNG Production from Greater Sunrise - Australia's Woodside Energy (Perth) and East Timor have agreed to study sending natural gas from the undeveloped Greater Sunrise fields to a new liquefied natural gas (LNG) plant in the Southeast Asian nation that could start exporting in the next seven years. The agreement calls for the two sides to study the commercial and technical viability of a 5 million-metric-ton project, with a high-level plan to start producing LNG as early as 2032-2035, Woodside and East Timor's petroleum and mineral resources ministry said in a joint statement last week. Subscribers to Industrial Info's Global Market Intelligence (GMI) Project Database can learn more by viewing the project report. (Reuters)
PRODUCTION
U.S. Drillers Cut Oil Rigs to Lowest in Four Years - U.S. energy firms last week cut the number of oil and natural gas rigs operating for the first time in four weeks, with oil rigs dropping to a four-year low, energy services firm Baker Hughes (Houston, Texas) reported. The oil and gas rig count fell by 10 to 544 in the week to November 26, the lowest since September. Baker Hughes said oil rigs fell by 12 to 407 last week, their lowest since September 2021, while gas rigs rose by three to 130, their highest since July 2023. In Texas, the biggest oil- and gas-producing state, the rig count fell by eight to 226, the lowest since July 2021. (Reuters)
Petrobras Cuts Five-Year Investment Plan - Brazilian state-run oil firm Petrobras' (Sao Paulo) five-year investment saw its first cut under President Luiz Inacio Lula da Silva's government due to lower oil prices, three sources familiar with the matter told Reuters ahead of the fact. The new plan, set to be unveiled last week, is set to have a capital expenditure about 2% lower than the previous US$111 billion plan for the 2025-29 period, dropping to around US$109 billion, the sources said, adding that a final decision is still set to be made by the board. (Reuters)
LNG
Woodside, East Timor Aim for 2032 LNG Production from Greater Sunrise - Australia's Woodside Energy (Perth) and East Timor have agreed to study sending natural gas from the undeveloped Greater Sunrise fields to a new liquefied natural gas (LNG) plant in the Southeast Asian nation that could start exporting in the next seven years. The agreement calls for the two sides to study the commercial and technical viability of a 5 million-metric-ton project, with a high-level plan to start producing LNG as early as 2032-2035, Woodside and East Timor's petroleum and mineral resources ministry said in a joint statement last week. Subscribers to Industrial Info's Global Market Intelligence (GMI) Project Database can learn more by viewing the project report. (Reuters)
