Russia maintains oil export levels following recent sanctions on major producers, yet energy revenues have dropped dramatically. Export revenues measured in rubles fell 50% this year, declining from 7.6% to 3.7% of GDP according to market analysis.

Investment banking analysis projects potential 50% crude oil price collapse by 2027, with Brent crude potentially reaching $30s per barrel. Supply expansion from non-OPEC+ producers, particularly in the Americas, expected to create substantial market surplus.

An underground coal mine fire that began in 1962 continues to burn beneath Centralia, Pennsylvania, forcing government evacuations and reducing the once-thriving mining town from over 1,000 residents to just five. Officials estimate the fire will burn for another century, creating ongoing hazards and toxic emissions.

Denver-based oil producers SM Energy and Civitas are combining in a $12.8 billion all-stock transaction, marking the largest upstream merger in recent months. The deal creates a scaled Permian Basin operator with enhanced drilling inventory and operational synergies across premium US shale assets.

Southeast Asia's smallest economy gains regional bloc membership as petroleum production ceases at its primary field. The strategic move aims to attract investment and reduce dependence on hydrocarbon revenues that historically comprised over 90% of GDP.

Venezuelan opposition figure outlines comprehensive privatization strategy targeting the country's vast oil and gas reserves, currently the world's largest proven petroleum deposits. The proposal aims to attract international investment following potential regime change through transparent asset sales and regulatory reform.

Traditional oil and gas service companies are investing heavily in power generation for artificial intelligence data centers as fracking activity weakens. Liberty Energy and Halliburton lead the sector's diversification into on-site power solutions using natural gas generators.

Petroleos Mexicanos reports a five-mile oil spill along the Pantepec River following devastating floods that killed 76 people across central Mexico. The incident threatens water supplies for multiple communities and Gulf Coast economic activities including fishing operations.

Greenland Energy plans the first onshore drilling operation in Greenland's untapped Jameson Land Basin, exploiting grandfathered licenses that predate the territory's 2021 oil drilling moratorium. The venture represents a high-risk bet on potentially massive reserves amid geopolitical tensions.