Earlier this year Eni signed an agreement with Vitol to partner in Congo LNG and other producing and undeveloped oil and gas assets in Congo-Brazzaville and Cote d’Ivoire. The $1.65 billion transaction will see Vitol acquire a 25 percent stake in Congo LNG and 30 percent in the Ivory Coast’s Baleine field, where Eni has 77.25 percent, as announced by the companies March 19.
Over the past decade, the Gulf Cooperation Council (GCC), comprising Saudi Arabia, Qatar, the UAE, Bahrain, Kuwait, and Oman, has advanced bold strategies to reshape its economies by reducing reliance on oil while developing new sectors like renewable energy, tourism, financial services, and digital innovation. Charting a course toward long-term economic resilience, these nations have launched sweeping infrastructure projects and enacted reforms designed to attract foreign investment. And it has worked swimmingly, so far.
The uncertainty over Rosebank also comes as Equinor and Shell reshape their UK portfolios. The two companies are merging their offshore businesses under a new joint venture, Adura, which will become the country’s largest independent oil and gas producer. Announced in late 2024 and set to be completed at the end of 2025, the merger will be shared 50/50 between the partners. Equinor has framed the move as a way to reduce risk exposure while gaining scale, with Adura expected to rank as the UK’s second-largest producer after Harbour Energy. The new entity is designed to be more agile, cost-competitive, and better positioned to extend the life of existing fields — a strategy that underscores the tension between bolstering energy security and navigating stricter climate regulation.
The administration’s iconic ‘drill, baby, drill’ slogan has been wishful thinking this year as U.S. benchmark crude prices, WTI, have lingered in the low to mid-$60s per barrel for months, about 13% below year-ago levels. The additional supply from the OPEC+ group and the Trump Administration’s inconsistent tariff and trade policies have reduced investors and speculators’ confidence that oil prices could stage a rebound soon.
ADNOC L&S was first listed on the Abu Dhabi Securities Exchange in a June 2023 IPO that raised USD 769 million for parent company ADNOC, which retained an 81% stake. This secondary offering follows ADNOC’s marketed placement of ADNOC Gas shares in February 2025, which raised USD 2.84 billion.
Kuwait has made tremendous progress between 2018 and 2023. The pandemic was a catalyst. The introduction of platforms such as Sahel simplified processes, and the recently announced digitised certificate verifications from the Ministry of Higher Education have improved a process that used to delay university operations.
While Kuwait is not yet a fully digital society, it has built the essential platforms. True digital transformation requires a shift in mentality and work culture, not just digitised tools. That transformation is well underway.
The Gulf of America (GoA) has witnessed an outstanding 2025 in terms of startup activity. Three new floating production units (FPU) are set to begin operations by year-end, with the potential to drive the basin’s deepwater output to an all-time high of nearly 2.2 million barrels of oil equivalent per day (boepd) in 2026.
Today, an additional 25% tariff on all Indian exports to the United States should come into effect, making the total tariff owed by importers of Indian goods around 50%. The additional tariff aims to discourage Indian energy importers from buying Russian oil. And it could hurt the U.S. economy—although U.S. oil producers would welcome the price change.
With the deal, IndianOil is on track to become ADNOC’s largest LNG customer by 2029. The company will account for a total offtake of 2.2 million tpy, of which 1.2 million tpy from Das Island under a contract signed in February 2025 with ADNOC Gas and 1 million tpy from Ruwais under this latest deal.
Global energy technology company Schlumberger NV (SLB) said its joint venture with Aker Solutions ASA and Subsea7 SA, OneSubsea, secured an engineering, procurement, and construction contract from Equinor ASA. SLB said it will deliver all-electric subsea production systems for 12 wells in the Fram Sor project offshore Norway.