SLB has agreed to acquire the upstream geoscience and petroleum engineering software portfolio of S&P Global’s energy division, expanding its digital subsurface capabilities and presence in U.S. unconventional workflows.
The global oil market is moving toward a critical inflection point as a supply disruption approaching 1 billion barrels begins to force demand lower, with traders warning that the prolonged closure of the Strait of Hormuz will soon trigger a broader consumption shock.
Golden Pass LNG, designed to export about 18 million metric tons per annum (MMtpa), has dispatched its inaugural cargo. “Marking an important step towards the project’s commencement of full commercial and export operations, the project’s historic LNG cargo was safely and successfully loaded onboard QatarEnergy’s Al-Qaiyyah LNG carrier, recently built in the Republic of Korea […]
Oil jumped amid fresh signs of escalation in the Iran war, dimming prospects for an imminent resumption of flows through the Strait of Hormuz. West Texas Intermediate futures rose 3.1% to settle near $96 a barrel in New York, after earlier rising by as much as 5.8%. Brent settled above $105 a barrel. Prices jumped […]
Ecopetrol has agreed to acquire an initial equity stake in Brava Energia as part of a broader plan to secure a controlling interest and expand its upstream footprint in Brazil. Under the agreement, Ecopetrol will purchase approximately 26% of Brava’s outstanding shares from a group of existing shareholders. The company also plans to launch a tender offer to […]
EIV Capital has closed approximately $1.1 billion in capital commitments across two funds targeting U.S. upstream and energy infrastructure investments. The firm’s EIV Resources II fund will focus on acquiring non-operated working interests in oil and gas assets across the Lower 48, building on its existing upstream platform. A separate Fund V will invest in energy […]
Helix Energy Solutions Group and Hornbeck Offshore Services have agreed to combine in an all-stock transaction, forming an integrated offshore services company focused on deepwater operations. The combined company will bring together Helix’s subsea robotics and well intervention capabilities with Hornbeck’s fleet of high-specification offshore support vessels, creating a life-of-field service offering spanning subsea intervention, marine transportation and […]
Major oil companies are increasing investment in high-impact exploration as the industry faces a potential 300-billion-barrel supply gap by 2050, according to new analysis from Wood Mackenzie. The report estimates that currently producing and sanctioned fields will supply only about 700 billion barrels of liquids through mid-century, leaving a significant shortfall without new discoveries or field […]
A new joint venture between PetroGuin and Tender Oil and Gas marks a step forward in unlocking Guinea-Bissau’s offshore potential, reinforcing broader momentum across West Africa’s deepwater frontier. Signed during the Invest in African Energy Forum in Paris on Wednesday by Petroguin Director General Alfredo Malú and Tender Oil and Gas Chairman and CEO Teodor […]
Oil and gas minister Clotaire Kondja said on Wednesday that Gabon plans to sign production sharing contracts with ExxonMobil and BP within the next six months, Reuters reports. ExxonMobil declined to comment to Reuters on the minister’s stated timeline, and BP did not respond immediately to a request for comment. Both companies have signed preliminary exploration agreements covering offshore acreage in […]