The exploration involved multiple wells drilled from the Askeladden rig, with detailed geological data indicating moderate to good reservoir properties. The license partners are considering a tieback to existing infrastructure.
ConocoPhillips and its partners have submitted two plans for development and operation (PDOs) to Norway’s Ministry of Energy for the Albuskjell, Vest Ekofisk and Tommeliten Gamma fields in the Greater Ekofisk Area of the North Sea.
India’s consumption of refined petroleum fuels and products is expected to hit another fresh high in the upcoming financial year 2026-27 (FY27) on the back of steady growth in energy use across various sectors of the economy, as per latest government estimates. According to projections by the Petroleum Planning & Analysis Cell (PPAC) of the Ministry of Petroleum and Natural Gas (MoPNG), the country’s consumption of petroleum products seen a proxy for crude oil demand in FY27 is seen rising 2.8% over the revised estimate for FY26 to 250.8 million tonnes.
World oil demand will rise more slowly than expected this year, the International Energy Agency said on Thursday, while warning the global market still faces a sizeable surplus despite outages that cut supply in January.
Turkey has begun a new phase in oil and gas production off the eastern shores of the African continent: the exploration and drilling vessel Çağrı Bey has been sent to the shores of Somalia, where it will begin exploration of oil and natural gas reserves in this region.
Friday’s gain in crude oil prices was small enough that it could almost be described as neutral for the day, largely due to an overall slowdown in U.S. inflation.
The US government has granted licences to five Western oil companies including BP, Chevron, Eni, Repsol and Shell to resume oil and gas operations in Venezuela, Bloomberg reported on Friday.
The Republic of Congo has begun exports from Phase 2 of its Congo LNG project, increasing the country’s liquefaction capacity and reinforcing its position as an emerging LNG exporter.
Halliburton has introduced a new injection system designed to support carbon capture, utilization and storage (CCUS) operations, as operators seek improved reliability and performance in CO₂ injection wells.
Venezuela plans to grant more oil-production land to Chevron Corp. and Spain’s Repsol SA as the Trump administration pushes for private companies to rebuild the nation’s energy sector, according to people with knowledge of the matter.