ExxonMobil reported Q4 2025 adjusted EPS of $1.71 vs $1.68 expected — beating Wall Street estimates despite oil's biggest annual price decline since 2020 (CNBC)
Revenue of $82.31 billion vs $81.43 billion expected
Achieved highest full-year net production in over 40 years at 4.7 million barrels per day (ExxonMobil IR)
Q4 production hit 4.98 million bpd with Permian Basin and Guyana setting output records
Full-year 2025 earnings: $28.8 billion with $37 billion in shareholder payouts (Stock Titan)
CapEx guidance: $27-29 billion for 2026, down from $29 billion in 2025
CEO Darren Woods told Trump that Venezuela is "uninvestable" — but ready to send technical team to evaluate the industry (ABC News)
📈 Q4 EARNINGS: Chevron Hits Record Production
Chevron reported Q4 2025 adjusted EPS of $1.52 vs $1.45 expected — beating estimates as record production offset lower crude prices (CNBC)
Q4 production hit 4.05 million bpd — up 21% from year-ago period
U.S. production up 16%, worldwide up 12% in 2025 to record levels
Quarterly dividend increased 4% to $1.78 per share
CEO Mike Wirth: Chevron can ramp Venezuela production by 50% over 18-24 months under right conditions (NY Times)
Wall Street views Chevron as best-positioned U.S. oil major to benefit from Venezuela intervention
U.S. refining business swung to $230 million profit from $348 million loss year-ago
🚨 M&A: Devon Energy & Coterra in Advanced Merger Talks
Devon Energy and Coterra Energy could announce agreement to merge as soon as next week (Reuters)
Would be the largest U.S. shale deal in almost two years
Expected to be billed as a merger of equals (TradingView)
Both companies have operations in the Delaware Basin (Permian) and Oklahoma's Anadarko Basin
Consolidation arguments remain strong: economies of scale, cost control, securing prime development land
Deal comes as oil prices spiked Thursday on concerns U.S. could take military action against Iran
Coterra shares rose 2.6% on the news; Devon marginally higher
🌎 Venezuela Oil Industry Undergoes Historic Overhaul
Acting President Delcy Rodríguez signed sweeping oil reform law opening sector to privatization — reversing 20+ years of socialist policy (ABC News)
Legislation ends PDVSA's monopoly over production, sales, and pricing
Private companies can now assume full management of activities at own expense and risk (NY Times)
New law allows independent arbitration — critical for luring back hesitant U.S. majors like ExxonMobil and ConocoPhillips whose assets were seized under Chávez
U.S. Treasury simultaneously began easing sanctions on Venezuelan oil
Rodríguez spoke with President Trump and Secretary Rubio on Thursday
U.S. overseeing sale of tens of millions of barrels from Venezuela's reserves — largest proven crude reserves in the world
⚠️ Alaska Operations: ConocoPhillips Drilling Proceeds Despite Rig Loss
ConocoPhillips says winter drilling program unaffected after Doyon Rig 26 "The Beast" tipped over and caught fire Friday (KNBA)
10-million-pound rig — largest mobile land rig in North America — was being transported near Nuiqsut
8 workers treated for minor injuries; no serious harm reported (Alaska News Source)
Company identified Doyon 142 as substitute rig — all 4 planned exploration wells still on track
Spill contained: ~4,000 gallons diesel and 600 gallons hydraulic oil on snow-covered tundra
Federal judge denied environmental groups' request to halt winter drilling in National Petroleum Reserve-Alaska (Anchorage Daily News)
"Our exploration work plan for this winter is going to be on track" — ConocoPhillips VP Barry Romberg
🇨🇦 Canadian Energy Updates
Suncor: Record 2025 Performance
Suncor Energy achieved Investor Day targets a year ahead of schedule in 2025, supported by record operational performance (TradingView)
RBC maintains Outperform rating with C$69 price target (MarketScreener)
Well-positioned for heavy oil demand shifts following Venezuela's political changes (Seeking Alpha)
Trans Mountain Pipeline Expansion
Alberta Premier Danielle Smith and BC Premier David Eby share "common ground" on Trans Mountain expansion (Globe and Mail)
Smith to release proposal for an entirely new pipeline in June
Pledged to keep BC Premier in the loop on pipeline plans
Canada-India Energy Relations Renewed
India and Canada officially renewed Ministerial Energy Dialogue at India Energy Week 2026 in Goa (Business Today)
India seen as ideal target for increased Canadian energy exports (Globe and Mail)
Cenovus operations highlighted in export discussions
🔬 Technology & Digital
AI Datacenter Demand Driving Gas Power Surge
U.S. gas power projects tripled in 2025 driven by AI datacenter demand (The Register)
Microsoft admits it's open to deploying natural gas with carbon capture alongside renewables to meet datacenter demand
Global gas-fired power capacity expected to grow nearly 50% on projects in development (The Guardian)
AI in Energy market projected to reach $18.31 billion by 2030 — opportunities in smart grid management, predictive maintenance (GlobeNewswire)