Eni has finalized the sale of a 30% interest in Côte d’Ivoire’s Baleine offshore project to Vitol, reshaping the partnership structure of the country’s flagship oil and gas development. Following the deal, Eni retains a 47.25% stake as operator, Vitol holds 30%, and state-owned Petroci controls 22.75%.
The Term Facility provides up to $250 million to be used for the repayment of the Company’s outstanding unsecured notes. The Term Facility is structured in two tranches, with the first tranche of $150 million to be drawn at close and used to partially redeem the Company’s outstanding 2026 unsecured notes ($250 million outstanding). A second tranche of $100 million is available for drawing until April 1, 2026. The Term Facility has an interest rate of SOFR + 3.75%, is secured against the Borrower’s assets in the Gulf of America and has a final maturity date of four years after closing.
Total reserves of 113.8 mmboe as of 30 June 2025 compare with total reserves of 128.5 mmboe as of 31 December 2024, both excluding Gabon. The reduction reflects 7.4 mmboe of production and revisions associated with production performance during 1H 2025 of 7.3 mmboe (Jubilee 6.3 mmboe and TEN 1.0 mmboe).
The Centre for Environmental Management and Sustainable Energy (CEMSE) on Oct. 24 proposed that TOR adopt a “tolling” system, where the refinery no longer buys crude oil directly. Instead, a private partner would supply and retain ownership of the crude, market the refined products, and pay TOR a fixed fee for its processing services.
Excelerate Energy has signed a definitive agreement with Iraq’s Ministry of Electricity to develop the country’s first floating LNG import terminal at the Port of Khor Al Zubair, the company said on Tuesday.
Eni SpA and Egypt’s Bioenergy Association for Sustainable Development, affiliated with the Environment Ministry, signed Monday an agreement for a feasibility study on biogas production in the North African country using animal and agricultural waste.
Gabon Oil Company (GOC) is emerging as a key growth engine in Central Africa’s hydrocarbons scene. Through strategic acquisitions, disciplined operations and a renewed exploration drive, the national oil company is positioning itself as both a production stabiliser and a catalyst for future energy expansion.
In an oil and gas report sent to Rigzone by the Macquarie team late Monday, Macquarie strategists, including Walt Chancellor, revealed that they are forecasting that U.S. crude inventories will be down by 2.4 million barrels for the week ending October 24.
The company on Wednesday announced a new midterm management plan spanning fiscal years 2026 and 2028, with the goal for dividends to reach 140 yen ($0.92) per share by the end of the period. That compares with its 100 yen dividend for the current fiscal year.
The world’s biggest oil companies are expected to press ahead with plans to accelerate production growth when they report earnings this week, despite weak crude prices and higher supplies from OPEC and its allies.