ConocoPhillips made a natural gas discovery offshore Victoria in the Otway Basin, though further work is needed to determine potential flow rates, the United States company’s Australian unit said Monday. “The Essington-1 well is the first discovery in the Otway since 2021 and is a promising start to ConocoPhillips’ exploration activities in the region”, ConocoPhillips Australia president Jan-Arne Johansen said in an online statement. “The initial results are encouraging, and we look forward to continuing drilling our second exploration well in December”. ConocoPhillips Australia said, “Preliminary estimates from logs and wireline results place the primary Waarre A target reservoir as a 62.6-meter gross hydrocarbon column. The secondary Waarre C target shows a further 33.2-meter gross hydrocarbon column as best estimates”. 3D Energi said separately, “Elevated gas readings were recorded in both the Waarre C (intersected at 2,265 meters MDRT) and Waarre A (intersected at 2,515 meters MDRT) reservoirs”. “In both reservoirs, gas peaks coincide with elevated resistivity readings observed on Logging While Drilling tools, consistent with probable hydrocarbon presence”, 3D Energi added. The discovery sits 12 kilometers (7.46 miles) from producing gas wells and about 53 kilometers (32.93 miles) from Port Campbell, Victoria, according to ConocoPhillips Australia. “Further work will be conducted to determine potential flow rates, the reservoir’s ultimate resource recovery and the commercial viability for potential development plans”, ConocoPhillips Australia said. The partners expect to complete operations at the well this month, after which the well will be plugged and abandoned. “A second well in VIC/P79 (Charlemont-1) expected to commence in December (weather and operational conditions permitting) and additional wells may be considered in the future under the accepted Environmental Plan”, ConocoPhillips Australia said. It announced the start of the Otway exploration campaign November 1, “in an effort to find new domestic natural gas supply and be part of

Turkey’s state energy company Turkiye Petrolleri AO plans to sell as much as $4 billion in Islamic debt as part of its push to expand oil and gas production, marking the firm’s first such international debt offering. The company, also known by its Turkish initials TPAO, is preparing to issue the five-year sukuk to international investors by the end of the year, Energy Minister Alparslan Bayraktar told Bloomberg on Monday. The debut sukuk follows non-deal roadshow meetings in London, Abu Dhabi and Dubai, where officials briefed potential investors on TPAO’s financial outlook and projects, including Black Sea natural gas production and the Gabar oil field in Turkey’s southeast, he said. Owned by Turkey’s sovereign wealth fund, TPAO also has a growing portfolio of international projects including exploration plans in Libya, Oman and Pakistan alongside existing production in Azerbaijan, Iraq and Russia.  TPAO produced 33.7 million barrels of oil and 2.2 billion cubic meters of gas in Turkey in 2024, former CEO Ahmet Turkoglu told a parliamentary commission earlier this year. It also pumped 39.4 million barrels of oil equivalent from international projects.  He said that the company made a profit of 15.4 billion liras last year – equivalent to around $390 million at the time of the comments. Production is set to increase both at home and abroad. Turkey plans to increase output at the main Black Sea gas field, Sakarya, to 45 million cubic meters per day in 2028 from the current 9.5 mcm, Bayraktar said. TPAO is also planning to develop unconventional reserves in the southeast in partnership with US-based Continental Resources, Inc. and TransAtlantic Petroleum Ltd.  TPAO established a subsidiary, TPAO Varlik Kiralama, earlier this month to manage the sukuk issuance. The debt sale comes as Turkey’s borrowing costs decline due to an easing of political tensions at

ADNOC Gas PLC has reported an eight percent year-on-year increase in net profit to $1.34 billion for the third quarter, the company’s highest for the July-September period. The increase was driven by a four percent rise in domestic gas sales volumes, according to an online statement by the company. Demand is supported by growth in the United Arab Emirates’ economy, while contract negotiations also improved underlying margins, said the gas processing and sales arm of Abu Dhabi National Oil Co. Earnings per share landed at $0.017. ADNOC Gas has extended its five percent annual dividend growth policy to 2030, aiming for $24.4 billion in total for 2025-30, according to a stock filing October 8. ADNOC Gas has introduced a policy to distribute dividends quarterly starting with Q3 2025. “The introduction of quarterly dividend distributions starting in Q3 2025 with $896 million to be paid by December 12 – alongside a five percent annual increase in dividend payout now extended until 2030 – offers greater transparency and even more regular income, allowing shareholders to plan and manage their finances with confidence”, it said in its quarterly statement. ADNOC Gas said, “Year-to-date net income reached $3.99 billion, exceeding market expectations, even as oil prices averaged $71/barrel in the first nine months of 2025 compared to $83/barrel in 2024”. “Q3 2025 saw ADNOC Gas’ domestic gas business deliver record results, with EBITDA rising to $914 million, up 26 percent year-on-year”. On lower prices, revenue fell from $4.87 billion for Q3 2024 to $4.86 billion for Q3 2025. Operating profit landed at $1.74 billion, up from $1.69 billion for Q3 2024. Profit before tax was $1.72 billion, up from $1.68 billion for Q3 2024. Net cash from operating activities before changes in working capital was $4.65 billion, up from $4.24 billion for Q3 2024. ADNOC Gas ended

Oil ticked lower as signs that activity had resumed at a key Russian port were countered by wider geopolitical risks to prices. West Texas Intermediate fell 0.3% to settle below $60 a barrel after adding more than 2% on Friday following an attack on Russia’s Novorossiysk facility. Two tankers moored on Sunday at the port, indicating operational activity. The dollar strengthened, making commodities priced in the currency less attractive.  The attack on Novorossiysk by Ukrainian forces, along with Iran’s seizure of an oil tanker near the Strait of Hormuz, injected a fresh geopolitical premium into prices as the market faces pressure from an emerging global surplus.  Traders are also monitoring the Trump Administration’s plans in oil-rich Venezuela. US President Donald Trump said on Monday he is not ruling out sending troops to the South American country and said he is willing to talk to counterpart Nicolas Maduro. Elsewhere, crude oil exports from Sudan were disrupted after a series of attacks hit energy facilities in the country, which serves as a key conduit for crude from landlocked South Sudan. Those risks are countering moves by OPEC+ and producers from outside of the group to ramp up output. The increases leave most traders expecting a significant surplus over the coming months.  “Brent crude oil prices continue to fluctuate in a $60-$70 a-barrel range, with the market focus shifting to how Russian oil exports will evolve over the coming months,” UBS analyst Giovanni Staunovo wrote in a note. “The market appears skeptical that Russia will struggle to export its oil barrels.” Moscow’s oil has begun to trade at a significant discount in recent days as the deadline nears for fresh sanctions on its two major producers to kick in. Prices are at the lowest level in over two-and-a-half years, according to Argus Media

On November 7, the Ministers of Energy for the three Baltic countries of Estonia, Latvia, and Lithuania and the U.S. Secretary of Energy convened for a fifth 3+1 Energy Dialogue in Athens, Greece, on the margins of the Partnership for Transatlantic Energy Cooperation (P-TEC) Ministerial. Estonia’s Minister of Energy and Environment Andres Sutt, Latvia’s Minister for Climate and Energy Kaspars Melnis, Lithuania’s Minister of Energy Žygimantas Vaičiūnas, and U.S. Secretary of Energy Chris Wright reaffirmed their shared commitment to strengthening transatlantic relations and deepening the strategic partnership; increasing the security, resilience and protection of critical energy infrastructure; growing U.S. liquified natural gas (LNG) imports for European independence from Russian energy and to support Ukraine; and enabling innovative nuclear deployment. The ministers also celebrated the success of their joint multi-year effort to desynchronize the Baltic electricity grid from Russia and synchronize with the Continental European network, which was achieved in February of this year.   The Ministers and Secretary discussed ongoing critical energy infrastructure security and resilience concerns acutely affecting the Baltic region, but applicable globally, including: physical security of undersea cables and pipelines and physical and cyber-security of electricity grid infrastructure ranging from the bulk power system to behind-the-meter technologies. The group noted recent exercises conducted by the U.S. Department of Energy and experts at the Pacific Northwest National Laboratory in Riga, Latvia to enhance responsiveness to grid disruptions and pledged to continue cooperation on infrastructure security.   The Ministers and Secretary also noted the importance of the security of energy supply, emphasizing that there can be no national security without energy security. They discussed a shared desire to increase the import of abundant U.S. LNG to the Baltic region and the whole of Europe. They also considered the possibility of transferring imported LNG to Ukraine on the basis of negotiated agreements

Over the past five years, the energy transition has been loud in some places.  We have seen data centers booming, capacity prices climbing, renewables surging and virtual power plants gaining traction. But beneath those headlines, a revolution message has been unfolding, sector by sector, driven not by policy or utilities but by private businesses stepping into roles once reserved for monopolies. Take Caterpillar, for example. Long known for its heavy machinery, the company now offers a Distributed Energy Resource Management System (DERMS) platform, an unexpected pivot that underscores how deeply energy intelligence is being woven into commercial and industrial operations. From retail and manufacturing to real estate and tech, companies are learning that energy is no longer a fixed cost. It’s a controllable variable, one that can be optimized, monetized and aligned with long-term business strategy. Commercial Customers: The Grid’s Unsung Stabilizers At the center of this shift are commercial customers, who are increasingly the steady force in an uncertain grid. Unlike residential users, whose Peak Load Contribution (PLC) is largely uncontrollable and often meaningless for planning or cost-reduction purposes, commercial PLCs can be actively managed. And that’s where the real innovation is happening. Multifamily communities are increasingly operating like commercial customers, and that shift is transforming their role on the grid. By pairing the right supply contracts with DERMS platforms, multifamily developers and operators can now manage usage, flexibility and capacity just like office parks or manufacturing sites have done for years. This isn’t theoretical; it’s already underway. Properties are optimizing load, reducing costs and contributing to grid stability by applying commercial-grade energy intelligence to what was once a passive residential segment. The result: a fast-growing, data-driven force for grid support emerging from the multifamily sector. From Energy Management to Energy Mastery Nationwide Energy Partners (NEP) has seen this