Swiss commodity trading major Gunvor is considering asset purchases in the U.S. oil and gas space, Reuters has reported, citing unnamed sources, in a bid to build a better relationship with the Trump administration. President Trump called Gunvor a “Russian puppet” after the Swiss company made a bid for the international business of Russian oil […]
Azule Energy, a 50-50 venture between BP PLC and Eni SpA, and its New Gas Consortium (NGC) partners have put into service a natural gas treatment facility with a capacity of about 400 million standard cubic feet of gas a day and 20,000 barrels of condensate per day in Soyo, northern Angola. The plant processes […]
ADNOC Gas PLC has signed a long-term deal worth $3.5-4.2 billion to supply natural gas to Emsteel. “The 20-year agreement, effective January 1, 2027, secures a stable and reliable supply of lower-carbon natural gas to power Emsteel’s operations and future growth”, a joint statement said. Emsteel chief executive Saeed Ghumran Al Remeithi said the contract […]
Brazilian oil major Petrobras announced a 2% decrease in its next five-year investment plan to $109 billion, putting dividend payments in doubt at a time of lower oil prices. Shares fell. The state-controlled oil producer is caught between the government’s desire to grow the economy – especially ahead of a 2026 presidential election – and investors who […]
Ecopetrol has approved an investment plan of COP 22–27 trillion ($5.4–$6.7 billion) for 2026, maintaining capital levels similar to those projected for year-end 2025 while prioritizing upstream development and operational efficiencies. Roughly 70% of next year’s budget — about COP 17.2 trillion — will go to exploration, production, refining and transport activities aimed at sustaining […]
Aker Solutions has secured a substantial long-term maintenance and modifications (M&M) contract from ConocoPhillips for work on the Eldfisk and Ekofisk fields offshore Norway, extending one of the company’s largest brownfield portfolios on the Norwegian Continental Shelf. The six-year frame agreement, which begins in January 2027, includes options for two additional three-year extensions. Work covers ongoing brownfield maintenance […]
Ghana’s government is moving to acquire an offshore exploration block regarded as one of the country’s most valuable undeveloped deepwater petroleum assets The government of Ghana plans to acquire a valuable offshore exploration block containing significant oil and gas reserves. This asset, identified by Springfield E&P, includes over 1.5 billion barrels of oil and 1.2 […]
* In February 2025, the new Minister of Energy announced Ghana’s withdrawal of the forced unitisation directive between ENI’s Sankofa field and Springfield’s Afina discovery. * IMANI was full of praise for the Minister because the forced unitisation order first issued in April 2020 was plainly absurd. It sought to compel Eni and Vitol to […]
Brent crude rose to 63.34 dollars per barrel on November 24, 2025, up 1.25 percent from the previous day, though the benchmark remained near month-long lows as diplomatic efforts to end the Russia-Ukraine conflict triggered concerns about potential oil supply increases. The modest daily gain followed a week when Brent logged its biggest decline since […]
Equinor ASA will drill about 26 wildcat and appraisal wells off the coast of Norway in 2026, mostly in the country’s North Sea, as the company looks to spend $6 billion a year over the next ten years to maintain the flow of oil and gas to Europe. Norway’s biggest oil and gas company will […]