Valeura Energy Inc. has entered into a farm-in agreement with PTT Exploration and Production Plc (PTTEP) to earn a 40% interest in Blocks G1/65 and G3/65, in the offshore Gulf of Thailand.
While crude prices were lower in the second quarter — weighing on earnings at other European oil companies — Eni has been buoyed by a cost-reduction program introduced earlier this year, while asset disposals brought down debt.
PTTEP, Thailand’s national E&P company, has signed an agreement to buy 100% of the outstanding shares of Hess International Oil Corporation, which holds a 50% participating interest in the offshore natural gas Block A-18 of the Malaysia–Thailand Joint Development Area (MTJDA).
Oil fell at the close of last week as the dollar strengthened and conviction waned that the U.S. will reach agreements with key trade partners ahead of a deadline this week.
House Republicans are moving forward with plans to pull U.S. funding for the International Energy Agency, saying the group has abandoned objectivity when it comes to projecting the growth of clean energy.
Angola’s upstream regulator the National Oil, Gas & Biofuels Agency (ANPG) is pushing a $60 billion investment drive across its upstream oil and gas industry between 2025 and 2030, led by a series of ambitious E&P projects. According to the African Energy Chamber (AEC), the country is aiming to sustain oil production above 1 million bpd while diversifying the industry through non-associated gas development.
Out of that, the country secured $218.62 million from crude oil liftings.
The crude oil lifting took place between January 2025 and March 2025.
The country also got $148.75 million from corporate tax during the first half of 2023.
Oil prices continued to move higher on Friday morning in Asia, supported by renewed optimism surrounding U.S.-EU trade negotiations and expectations that Russia will restrict gasoline exports. Even reports of Chevron’s return to Venezuela, which analysts estimate could add around 200,000 barrels per day to global supply, have been unable to pull prices lower.
U.S. natural gas futures fell for a third consecutive session on Wednesday, hitting its lowest intraday level since late April, as new weather forecasts indicate a much cooler weather pattern unfolding across the Lower 48 for the beginning of August.
Lower demand for crude oil from refiners at home gave a boost to U.S. exports of the commodity, turning it into a net exporter to OPEC member Nigeria in two of the seven months since the start of this year.