The Gulf Barrel

Moeve has agreed to sell its minority stakes in three Algerian Berkine Basin fields to Pertamina Algeria Eksplorasi Produksi, and says the sale will end its exploration and production business. Price and stake sizes are undisclosed, and each transfer needs Algerian approval, so the barrels changing hands cannot yet be sized.

The International Energy Agency says renewable power cut India's coal and gas import bills by more than $100 billion between 2011 and 2025. For the oil barrel the relevance is indirect: the saving is in coal and gas, while India's rising gas import dependence is the link to LNG. This is analysis, not advice.

CNOOC Limited's record 593.7 million barrels of oil equivalent for January-September 2026, up 2.7 percent, shows a state-owned producer growing fastest abroad. Overseas output rose 4.3 percent against 1.9 percent in China, with Guyana and Brazil leading, according to the company's figures reported on 30 October 2026.

The UK government says Transitional Energy Certificates could unlock around 60 million barrels of North Sea oil, as of 5 November 2026, but that is an official estimate, not a filed reserves figure. The Energy Independence Bill ends new exploration licences while allowing tieback production, and no source names fields, operators or timelines.

A switchboard-room fire at Equinor's Visund platform has taken the field's 13.2 million cubic metres per day of gas export capacity offline from Thursday, according to OilPrice.com citing NRK. It is a short-notice supply outage, not a structural shift, and its length depends on repairing electrical distribution on the platform.

Brent fell 8.6% to $94.66 on Wednesday because traders read the White House's linking of Tuesday's midterm losses to the Iran war as a signal that de-escalation is likelier. The move unwinds a premium that had Brent near $118 on Friday; the source describes a repricing of expectations, not a supply event.

The UAE is reportedly considering a third crude export pipeline outside the Strait of Hormuz, but nothing is confirmed. Rigzone cites unnamed people familiar with the matter. Argus and The National both point to Adnoc's next bypass route arriving in 2027, so a third line would extend an existing strategy rather than start one.

Energy Transfer's final investment decision on the South Mississippi Pipeline commits roughly $1.6 billion to a 215-mile gas line, but its size is not fixed. Energy Transfer says a binding open season will set final sizing, while 20-year firm agreements support construction. Analysis, not advice.

Elengy's call for expressions of interest at Fos Cavaou is a demand test, not a commitment to expand. The terminal has loaded small-scale LNG vessels since December 2021, and the call asks whether enough shippers want more of that service to justify further capacity. No volumes or tariffs have been confirmed.

Matador Resources says San Mateo Midstream's new 300 MMcfd Marlan processing train is now underwritten by a long-term, fixed-fee contract with an unnamed producer, which gives it a buyer, not just an announcement. Completion is targeted for the end of 2028, and Matador's 2026 midstream capex estimate rises about $25m.