London, October 15, 2025, (Oilandgaspress) –––Oil prices have remained within the $60-$70 range established since the commencement of the accelerated production schedule of OPEC+., the price range is expected to remain for the forseeable future. Some forecasts project prices could fall below $60 in the short term, particularly in 2026, due to a projected rise in global inventories.
Some OPEC members are expected to further ramp up production over the next few years according to expert reports. The United Arab Emirates (UAE) continues to invest in new capacity across its Upper Zakum, Lower Zakum, Umm Shaif, Bab and Bu Hasa oil fields, translating into an incremental increase of around 200 kbd annually in 2025 and 2026. Kazakhstan has successfully deployed nearly 200 kbd of new production capacity at its Tengiz drilling base, while Iraq has been enhancing refining capacity in Kirkuk and Basra. Kuwait is also modestly increasing its capacity in the Light Jurassic Formation, and production in the Saudi-Kuwaiti Neutral Zone is trending about 40 kbd higher in 2025.
World oil supply will exceed demand by almost 4 million barrels a day next year, an unprecedented overhang in annual terms, the IEA said in its latest monthly report. Its predicted surplus is up roughly 18% from last month’s estimate, as the OPEC+ alliance continues to revive output and the outlook for the group’s rivals in 2026 strengthens.
G24 Press Conference Central Bank of Nigeria (CBN) Governor, Yemi Cardoso, was confident that better days are ahead for the country. Cardoso, who stood in for the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, at the G24 Press Conference, said the post-market liberalisation naira has become very competitive, giving the economy an edge in an economy reeling in uncertainty.
“I think we were very fortunate because a lot of the things that needed to be done, we did them much earlier. As a result, we were able to create resilience and buffers against potential shocks,”Cardoso told the gathering. “In terms of anchoring expectations, we found that those who followed the Nigerian economy were fairly comfortable. For us, again, oil is basically the only commodity that was so exposed and the impact on that was relatively modest.
“For once, we have a situation where we have a positive balance of trade, a trade surplus, and we expect it to be around six per cent of GDP and remain in that range for some time,” the governor added.
The G-24 Press Conference might have set the tone for Nigeria’s pitch in the week, with Cardoso, who leads the Nigerian delegation, expected to hold critical meetings with investors and other stakeholders on the country’s competitiveness.
The current administration has played up the role of economic reforms in removing market rigidities, which have previously held back investors from participating in the economy. Read More
Apex International Energy Completes Sale of Egyptian Upstream BusinessFurther to the announcement of Apex International Energy L.P. (the “Company”) dated 9 February 2025, the conditions to completion under the sale and purchase agreement dated 7 February 2025 with United Energy (MENA) Limited, a subsidiary of United Energy Group Limited, were satisfied. Accordingly, the Company is pleased to announce that the completion of the sale of all the shares in Apex International Energy Holdings I, which holds all of the Company’s upstream oil and gas business in Egypt, took place on 14 October 2025. Read More
Energy efficiency is key for Ukraine Ukraine’s building stock has faced unprecedented challenges since Russia’s full-scale invasion in 2022, with extensive destruction of critical infrastructure and the displacement of millions of people. An estimated 13% of the total housing stock has been damaged or destroyed, affecting more than 2.5 million households. Reconstruction needs in the housing sector are the highest among all long-term priorities, at nearly USD 84 billion. Estimates of the number of affected buildings range from 236 000 to 400 000, underscoring the enormous scale of the impact on the sector.
Amid the devastation, the priority is not simply to replace buildings as they once were, but to rebuild in ways that improve people’s daily lives and strengthen communities. Putting energy efficiency at the heart of Ukraine’s recovery ensures homes that are warmer, safer, and more affordable for families, while also creating jobs and boosting the economy. Ukraine has established a comprehensive policy framework to improve energy efficiency in buildings, aligning its national strategies with international commitments. These commitments prioritise the implementation of the EU directives, forming the backbone of Ukraine’s action plan for aligning with European standards. Key regulatory instruments include mandatory energy performance certification, minimum energy performance standards, mandated energy audits, and smart metering.. Read More
Eni report on the purchase of treasury shares During the period from 6 to 10 October 2025, Eni acquired on the Euronext Milan no. 3,283,799 shares (equal to 0.10% of the share capital), at a weighted average price per share equal to 15.2263 euro, for a total consideration of 49,999,999.55 euro within the treasury shares program approved by the Shareholders’ Meeting on 14 May 2025, previously subject to disclosure in accordance with applicable legislation.
On the basis of the information provided by the intermediary appointed to make the purchases, here below a synthesis of transactions for the purchase of treasury shares on the Euronext Milan on a daily basis:
| Trade date (dd/mm/yy) | Transaction quantity | Transaction weighted average price (euro) | Transaction amount (euro) |
|---|---|---|---|
| 06/10/2025 | 633,615 | € 15.0793 | 9,554,499.18 |
| 07/10/2025 | 667,000 | € 15.1616 | 10,112,777.86 |
| 08/10/2025 | 654,000 | € 15.2902 | 9,999,786.88 |
| 09/10/2025 | 670,000 | € 15.4225 | 10,333,062.27 |
| 10/10/2025 | 659,184 | € 15.1701 | 9,999,873.36 |
| Totale | 3,283,799 | € 15.2263 | 49,999,999.55 |
From the start on 20 May 2025 of the buyback program, Eni acquired no. 65,019,486 shares (equal to 2.07% of the share capital) for a total consideration of 930,047,858.89 euro.
Considering the treasury shares already held and the purchases made, Eni holds n. 156,629,813 shares equal to 4.98% of the share capital.Read More .
UK Households are starting the winter owing £780 million to their energy suppliers, the highest debt levels in eight years, a survey for Uswitch found. Some 3.5 million households owe money to their provider, up 46% from 2.4 million last year, the comparison site said. The current average household debt figure of £223 is 29% higher than last year’s £173.
Across all households, the average bill payer was £128 in credit last year but this has dropped to £98 this year – falling below £100 for the first time since the energy crisis began. Recent figures from regulator Ofgem showed that customers owed energy suppliers more than £4 billion, an increase of more than £750 million on the previous year. Ofgem’s debt figure is the total amount that customers owe their suppliers for unpaid bills, whereas Uswitch is measuring the current balance of a household’s energy account.
One in six homes (16%) with a household income of less than £20,000 a year already owe money to their energy supplier before winter, with indebted homes owing £60 on average. Read More
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OilandGasPress Energy Newsbites and Analysis Roundup | Compiled by: OGP Staff, Victor Cole , victor@oilandgaspress
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