The Venezuelan government is circulating a draft of regulations as part of its newly enacted oil law, highly anticipated by companies planning to invest in the country’s increased oil production.
The U.S. and China called for the Strait of Hormuz to reopen following talks between President Donald Trump and Chinese President Xi Jinping, though negotiations over the Iran conflict remain deadlocked as global oil prices continue climbing.
Mexican President Claudia Sheinbaum has tapped Juan Carlos Carpio to lead Pemex as the state oil company grapples with mounting debt, declining production and broader fiscal pressure.
Velesto Energy has secured its first asset-light drilling contract through a third-party charter arrangement, winning a jackup rig contract from Hibiscus Oil & Gas Malaysia for an offshore drilling campaign in Malaysia.
The U.S. and Iran remained far apart Sunday on negotiations aimed at ending the conflict and reopening the Strait of Hormuz, while a drone strike near a United Arab Emirates nuclear facility underscored ongoing security risks across the Gulf region.
Australian energy company Santos has commenced oil production at the Pikka phase one development at North Slope, Alaska, US, aiming for an initial 20,000 barrels per day (bpd) gross of oil. During the start-up and commissioning phase, production is set to ramp up to this initial level over the coming weeks and is set to […]
The Canadian government and Alberta have reached a carbon pricing deal that could finally move a long-discussed West Coast oil pipeline from perpetual Canadian debate into actual construction, with a start date now penciled in as early as September 2027. For Canada, this is meaningful progress. Prime Minister Mark Carney and Alberta Premier Danielle Smith […]
The oil and gas crunch caused by the war between the U.S., Israel, and Iran, has cost global businesses $25 billion, Reuters reported today, adding that the bill is going to climb higher still. The publication analyzed corporate statements issued after the war started, finding that as many as 279 companies had cited the war as a […]
Houston-based E&P company Caturus announced on Friday it has reached a positive FID on the Commonwealth LNG project, a planned facility with 9.5 million tonnes per year of liquefaction capacity in Cameron Parish, Louisiana. The decision comes in parallel to the close of USD 9.75 billion in project financing to construct the facility in a […]
Shell PLC remitted a total of $23.84 billion to governments in 24 countries where the British energy giant has upstream activities last year, with Brazil displacing Nigeria as top recipient at $4.25 billion.