bp has renewed a long-term offshore operations and maintenance contract in Azerbaijan’s Caspian Sea covering eight production platforms across its operated Azeri Chirag Gunashli (ACG) oil field and Shah Deniz gas development. The renewed agreement with Turan Drilling & Engineering Company LLC—a joint venture between SOCAR AQS and Helmerich & Payne—has an initial term of five years, with three […]
Guyana is accelerating efforts to diversify its economy and expand domestic energy infrastructure as offshore oil production continues to drive rapid economic growth, according to President Irfaan Ali. Speaking in Georgetown, Ali said the government is using rising revenue from ExxonMobil-operated offshore developments to fund infrastructure, power generation and industrial projects aimed at reducing long-term […]
Chariot Plc plans to raise approximately $20 million through an equity placing and subscription to help finance the acquisition of a producing oil interest offshore Angola, the company announced. The Africa-focused energy company is working with Shell Trading and Etu Energias to support Etu’s acquisition of a working interest in Blocks 14 and 14K offshore Angola, which currently produce […]
U.S. Energy Secretary Chris Wright has issued a one-year deadline for the International Energy Agency (IEA) to abandon its net-zero emissions agenda or risk the United States withdrawing from the organization. Speaking at an IEA ministerial meeting in Paris, Wright criticized IEA’s goal for the world to achieve net zero by 2050 as a “destructive illusion” with […]
Nigeria is moving to channel a larger share of oil and gas revenue into state coffers as part of broader fiscal reforms aimed at strengthening public finances and improving transparency in the upstream sector. Under a new directive signed this month, all income from production-sharing contracts will be paid into the Federation Account rather than being […]
ExxonMobil positions its CCS network as a solution for reducing carbon emissions from key industrial sites along the US Gulf Coast.
The Government of Saskatchewan raised just over $7 million in its final Crown oil and natural gas public offering of the 2025-26 fiscal year.
TotalEnergies EP Nigeria Limited, the upstream arm of TotalEnergies companies in Nigeria, has reaffirmed its commitment to expanding Nigeria’s energy supply through a strong focus on growing the country’s oil and gas production and expanding electricity generation while reducing the carbon intensity of its operations.
The Capital Market Academics of Nigeria (CMAN) has commended President Bola Ahmed Tinubu for issuing an Executive Order directing the restoration of 60 per cent of proceeds from profit oil and gas under Production Sharing Contracts (PSCs) to the Federation Account.
Asia is poised to import record volumes of crude oil this month as top importers boost purchases amid strong runs and a changing geopolitical situation.