US crude production rose to a record 13.46mn b/d in October on sustained strength in Texas and New Mexico, according to the EIA's latest Petroleum Supply Monthly report. Output rose from 13.2mn b/d in September and 13.15mn b/d in October 2023, and pushed past the previous record of 13.36mn b/d set in August. Texas pumped a record 5.86mn b/d, up from 5.8mn b/d in September and 5.57mn b/d a year earlier, while New Mexico produced 2.08mn b/d, down slightly from record highs in August and September, but up from 1.8mn b/d in October 2023. Gulf of Mexico output rebounded to 1.85mn b/d from a hurricane-affected 1.57mn b/d in September, but was down from 1.94mn b/d a year earlier.
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Brazil presents global fossil fuel, forest roadmaps
Brazil presents global fossil fuel, forest roadmaps
Edinburgh, 3 November (Argus) — Brazil's UN Cop 30 presidency today presented two international roadmaps intended to accelerate the transition away from fossil fuels and halt deforestation, offering practical pathways for countries with different starting points. The roadmaps propose short-term measures that countries could implement to accelerate action through to 2033, with key UN Cop climate summits serving as milestones. The presidency pledged during last year's summit in Belem to develop the roadmaps after countries failed to agree on the two issues. It reiterated today that the roadmaps will not be negotiated at Cop 31 in Antalya this year, but said the "political space for a frank conversation... should stay open". The fossil fuel roadmap draws on 267 contributions, including 21 submissions representing 115 parties to the Paris climate agreement. It breaks the transition into a series of actionable steps, beginning with a voluntary self-assessment tool through which countries can evaluate their "unique circumstances, structural conditions, exposure to fossil fuel dependence and transition capacity". The assessment would examine countries' exposure to fossil fuels and their ability to manage the transition across three themes — energy demand, energy supply and the broader economy. The aim is to help countries identify their respective profiles and existing strengths, the presidency said. The second step focuses on implementation, offering possible actions for countries with similar demand and supply profiles. Countries can begin acting regardless of their starting point, although the transition will require careful co-ordination, the presidency said. "Economies with high exposure and limited capacity have most to gain from avoiding new lock-in and stranded assets as their demand for energy services grows," the roadmap report said. "Economies with strong capacity have the means to move first." The presidency proposes advancing the roadmap through a "Transitioning Away From Fossil Fuels" agenda organised around three milestones linked to future global stocktakes (GSTs), which assess progress towards the goals of the 2015 Paris accord. Efforts should focus on institutions and long-term policy signals until 2028, when the second GST begins, the presidency said. The focus would shift towards transforming energy systems in 2028-30, when the collective goals agreed at Cop 28 are due and countries submit their next climate plans. The presidency recommends shifting greater attention to the supply side and scaling up solutions in 2031-33, alongside the third GST. Asked how Brazil intends to link the roadmap to the informal action agenda, a parallel process conducted alongside formal Cop negotiations, Cop 30 chief executive Ana Toni told Argus that the work began under that agenda last year. The presidency will release another report at Cop 31 detailing progress under the action agenda, she said. One role of the roadmap is to ensure countries do not lose sight of the Cop 28 consensus on transitioning away from fossil fuels and to highlight elements already in place to advance that commitment, Cop 30 president Andre Correa do Lago said. The roadmap also serves as an initial contribution to the next GST process, he said. The Cop 30 presidency also released a roadmap for stepping up efforts to halt and reverse deforestation and forest degradation by 2030. It identifies areas for action under national strategies — including conservation, sustainable forest management, agroforestry and the bioeconomy, as well as measures to combat deforestation and forest degradation. The presidency identified finance as one of the largest implementation gaps, as most tropical forests are in developing countries. Domestic public budgets accounted for 88.3pc of recorded forest finance in 2023, while international public finance provided only 3.4pc, it said. The forest roadmap sets out international actions and indicative milestones through to 2030. By Caroline Varin and Lucas Parolin Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Apache, Wood Group North Sea workers to strike: Update
Apache, Wood Group North Sea workers to strike: Update
Adds comment from Apache London, 3 November (Argus) — UK offshore workers employed by US company Apache and engineering firm Wood Group have announced new strikes this month at 12 North Sea assets. A strike by 170 Apache workers — members of UK union Unite — will start at 06:00 local time on 4 November and end at 05:59 on 5 November, Unite said. Subsequent strikes will take place on different offshore assets on alternative days, Unite said. Unite members will strike on the Forties Alpha, Forties Bravo, Forties Delta and Beryl Bravo platforms on 13-14 November, and then on the Forties Charlie, Forties Echo and Beryl Alpha platforms on 15-16 November. The Apache workers involved in the industrial action, over jobs, pay and conditions, include electrical, instrument, mechanical and production technicians, telecoms technicians and radio operators. Unite said previous strike action in October brought all seven offshore assets involved in the pay dispute "to a standstill". Apache told Argus that it shut down its North Sea offshore assets for the 24-hour action to ensure safety of personnel. It said shutdown and restart were completed without incident, and said third-party producers continued operating through the Forties Pipeline System (FPS) as normal. Apache said that for any further industrial action it would assess each platform and continue operations where it is safe to do so or shut fown is necessary. The company said that it remains "open to dialogue" with unions. Wood Group offshore workers — including electrical, production, instrument and mechanical technicians — today began a strike on assets belonging to UK independent Harbour Energy. The 48-hour action is scheduled to finish on 4 November. The workers, Unite members, plan another 48-hour stoppage on 17-18 November, Unite said. Assets involved are the Britannia, Jasmine, Judy, Lomond and North Everest platforms. Harbour Energy told Argus it expected "to maintain safe and reliable operations and production across our business". The Wood Group action is due to a dispute over pay and conditions, Unite said. Harbour said it hoped a "constructive resolution can be reached". By Georgia Gratton Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
UAE says oil exports back around pre-war levels
UAE says oil exports back around pre-war levels
Dubai, 3 November (Argus) — UAE energy minister Suhail al-Mazrouei said the country's oil exports have recovered strongly from disruption in the early months of the US-Iran war, at times exceeding pre-conflict levels. US and Israeli strikes on Iran in late February prompted Tehran to target shipping through the strait of Hormuz, through which around 20mn b/d of crude, condensate and refined products had been passing. The disruption initially forced several key Mideast Gulf producers, including the UAE, to sharply reduce oil shipments through the strait and cut crude production. UAE crude and condensate exports fell to just below 2mn b/d in March from close to 3.3mn b/d in February, according to Kpler. Abu Dhabi cut shipments through the strait of Hormuz by 80pc and rerouted some crude through the Adcop pipeline for export from Fujairah, which lies outside the strait. Regional tensions persist and Iran continues to target vessels in and around the strait. But shipping through Hormuz has risen steadily in recent months, partly because of logistical support from the US military. "I don't want to give a number, but at certain times, we have been [higher] than prior to [the war]," al-Mazrouei said. "Sometimes, we have even filled in the gap that others were not able to supply." Crude and condensate exports tracked by Kpler support the broader recovery described by al-Mazrouei. UAE shipments rose to 3.6mn b/d in June and reached 3.36mn b/d in September, before edging down to 3.31mn b/d in October. The export recovery has been accompanied by a rebound in UAE crude production, which has recently exceeded pre-war levels. Argus estimated production at around 3.9mn b/d in September, up from 3.53mn b/d in February and a low of 1.9mn b/d in March, the first month of the conflict. Al-Mazrouei attributed the recovery to resilience built through years of forward planning. "Spare capacity is resilience, and having optionality is part of being resilient," he said, referring to the Adcop pipeline, which allowed the UAE to continue exporting significant volumes of crude while shipments through Hormuz were constrained. Adnoc is several years into construction of a second cross-country link, known as the West-East pipeline, which will also carry crude to Fujairah for export. Adnoc has said the pipeline will become operational next year, while market participants told Argus it is likely to be ready by the second quarter . "The infrastructure we built paid off in no time," al-Mazrouei said. "The whole investment paid off after using it for a few months." The biggest lesson from the conflict is that "you need to be ready", he said. By Nader Itayim Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Hormuz oil flows down on the month
Hormuz oil flows down on the month
New York, 2 November (Argus) — Oil flows through the strait of Hormuz fell in October from the month prior amid heightened attacks from Iran against commercial traffic in the region, but flows remained up from August. Combined crude oil and refined product flows through the strait of Hormuz stood at around 10.3mn b/d, split between 8.5mn b/d of crude and 1.8mn b/d of refined products, according to preliminary Vortexa data. This is down by 13.2pc from September when combined exports reached 11.85mn b/d, but up by 28pc from August. Flows through the strait remain below their pre-war average of around 14.5mn b/d of crude and around 4.75mn b/d of refined products in the first three months of the year, per Vortexa data. Attacks by Iranian forces against tankers have failed to deter some shipowners and national fleets from operating in the area, with the risks for some outweighed by record-high freight rates for tankers exiting the strait of Hormuz. The cost to ship crude from the Mideast Gulf to Asia through the strait of Hormuz on a very large crude carrier stood at $37.30/bl on Monday, the highest level since Argus began assessing the route in 2016 and over four times higher than its pre-Iran war high. Iranian forces attacked over 30 vessels around the Mideast Gulf, strait of Hormuz and Gulf of Oman in October, the highest level since the conflict broke out at the end of February following joint US-Israeli strikes on Iran. The UK Maritime Trade Organization reported three attacks taking place between the strait of Hormuz and the Mideast Gulf on 1 November alone. Increased attacks from Iran against shipping in the area precede a period of anticipated military escalation between the US and Iran after the US' 3 November midterm elections . By Charlotte Bawol Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
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