Seven OPEC+ members have agreed to increase collective oil production by 188,000 bpd in August, continuing the gradual rollback of voluntary production cuts while reaffirming their commitment to maintaining market stability.
Altera Infrastructure has signed the principal agreements to supply a new floating production, storage and offloading (FPSO) vessel for Eni’s Baleine Phase 3 development offshore Côte d’Ivoire, marking a key milestone in the expansion of one of West Africa’s largest offshore oil and gas projects.
Oil major, Eni, is pressing on oil and gas trade expansion and has entered into agreement with commodity merchant Mercuria Energy Group Ltd. to drive a global trading strategy seeking growth in an area that has seen huge price swings and profit opportunities during the war in Iran.
As Libya works to sustain its recent production recovery, the African Energy Chamber (AEC) says Angola’s regulatory reforms offer a useful example of how policy certainty can help attract long-term upstream investment.
Kosmos Energy (NYSE/LSE: KOS) (“Kosmos” or the “Company”) is pleased to provide the following update on activities across its portfolio:
Eco (Atlantic) Oil & Gas, the oil and gas exploration company focused on the offshore Atlantic Margins, has received formal Ministerial approval from the Ministry of Industries, Mines and Energy of Namibia for the Section 11 assignment relating to the Company’s previously announced farm-out of its 85% participating interest in Petroleum Exploration Licence 98 (‘PEL 98’), offshore Namibia, to an arm’s-length wholly Namibian-owned company, Lamda Energy.
Magnolia Oil & Gas Corp. has emerged as the front-runner to acquire closely held WildFire Energy for more than $4 billion in what would rank as its largest-ever acquisition, according to people familiar with the matter.
Zephyr Energy has expanded its operated position in Utah’s Paradox basin by acquiring approximately 27,000 additional acres, doubling its acreage around the company’s White Sands Unit (WSU) and strengthening its development position in the Cane Creek reservoir.
Saudi Aramco has resumed crude oil loadings at its Ras Tanura terminal after a halt that has lasted nearly four months, Reuters reported on Friday.
Aker Solutions has been awarded a five-year engineering and maintenance services agreement by Cenovus Energy to support operations at the White Rose field offshore Newfoundland and Labrador, Canada.