All News Offshore Energy · August 28, 2026 (11h ago) · 1 min read 18-km pipeline installation and platform upgrades boost Gulf of Suez field Read on Offshore Energy Share: Latest Coverage Venezuela Helped Build OPEC. Now It May Help Break It Apart Venezuela is reportedly weighing a historic departure from OPEC, the cartel it co-founded in 1960 alongside Middle Eastern producers. Such a move would mark a profound geopolitical realignments for Caracas, driven by an appetite to revitalize its battered domestic hydrocarbon sector without cartel-imposed quota constraints. A formal exit, with tacit encouragement from Washington, would weaken OPEC's cohesion and set a precedent for resource-rich members seeking independent production pathways. OilPrice · August 28, 2026 U.S. Oil Rig Count Falls by 5 as Gas Rigs Rise The latest Baker Hughes data indicates a flat overall US drilling trajectory, with total active rigs holding steady at 588 despite divergent sector movements. A weekly decline of five oil-directed rigs was entirely offset by an increase in natural gas drilling units, reflecting nuanced capital deployment strategies across major shale basins. While the aggregate rig count remains 52 units higher than the corresponding period last year, operators continue to balance disciplined capital expenditure against fluctuating hydrocarbon prices and demand projections. OilPrice · August 28, 2026 Gas Prices in Asia and Europe Jump as Qatar Extends LNG Force Majeure OilPrice · August 28, 2026 Ukraine Drones Spark Fire at Russian Refinery as Fuel Crisis Worsens OilPrice · August 28, 2026 View all news → ← Previous Dolphin Drilling: GHL cash-and-rig proposal ‘encouraging’ but settlement offer falls short Next → Acerta to expand liquids-rich Alberta production with Astara deal