The Petroleum Ministry laid out the plan this week, revealing that 101 wells are already slated for 2026, spread across Egypt’s main producing regions. The announcement didn’t specify where all that capital is coming from—never a minor detail—but the country has been cozying up to the majors again, signing new exploration deals with BP (BP.L) and Eni (ENI.MI) to scour the Mediterranean for the next Zohr-sized win.
The Rizhao Shihua Crude Oil Terminal, which was blacklisted by Washington last week over its role in taking Iranian crude, is located in Shandong province, the center of China’s refining industry. Partly owned by Sinopec, Rizhao is the major entry point for foreign crude for the oil major, also known as China Petroleum & Chemical Corp., and is connected with several of its facilities by a lengthy pipeline.
Last month Tamboran said it had received approval from the Northern Territory government to sell appraisal gas from the SS Pilot Project, after the Beetaloo JV and the government entered an agreement for the supply of 40 terajoules (tJ) per day from the project to the Northern Territory for an initial term of nine years starting in the first half of 2026.
“Net debt at the end of the third quarter is expected to be broadly flat compared to the end of the second quarter at around $26 billion including the impact of the redemption of $1.2 billion perpetual hybrid bonds on 1 September as planned, higher income taxes paid of around $1 billion and a working capital release”.
The technology, which was jointly developed by researchers at KAUST and Aramco, merges aerial and terrestrial robotic capabilities for industrial inspection and monitoring applications. Through the agreement, Aramco will be able to further develop and deploy the HUCT across its operations.
The proposed acquisition of the license in Ukraine remains subject, among other things, to completion of legal and financial due diligence, regulatory approvals, and the execution of a definitive share sale and purchase agreement by Pennpetro with the shareholders of the newly-incorporated Polish company.
The argument worked in Shell’s arbitration case against Venture Global, where the court sided with the latter. It did not work with another arbitration case, brought against the U.S. LNG producer by BP, which is asking for over $1 billion in compensation. The total sought in damages from Venture Global by its long-term clients is over $4 billion. The company has warned that any unfavorable court ruling would lead to contract cancellations and faster repayment of loans taken out to build its LNG facilities, from the long-term buyers of the commodity.
Algeria’s Sonatrach and Saudi oil and gas investor and operator Midad Energy North Africa have signed a USD 5.4-billion hydrocarbons production-sharing contract for the Illizi South perimeter, Sonatrach announced on Monday.
“The initial exploration well recorded the highest production rate from a vertical well in the Minagish formation in Kuwait’s history,” KOC said in a statement on Monday. The company has made similar announcements for oil and gas offshore discoveries since last year.
Of the total U.S. rig count of 547, 529 rigs are categorized as land rigs, 15 are categorized as offshore rigs, and three are categorized as inland water rigs. The total U.S. rig count is made up of 418 oil rigs, 120 gas rigs, and nine miscellaneous rigs, according to Baker Hughes’ count, which revealed that the U.S. total comprises 480 horizontal rigs, 55 directional rigs, and 12 vertical rigs.