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:
The General Staff of the Armed Forces of Ukraine has announced a strike on the Kstovo-based Lukoil-Nizhegorodnefteorgsintez oil refinery, one of the fuel suppliers for the Russian army. “On the night of July 2, as part of reducing the military-economic potential of Russia, units of the Ukrainian Defense Forces struck the Lukoil-Nizhegorodnefteorgsintez oil refinery in […]
Namibia has emerged as one of the world’s most promising frontier oil and gas markets, with multi-billion-barrel discoveries positioning the country for first production by 2030. Yet moving from discovery to commercial production requires more than resource potential. It requires an investment framework that provides fiscal certainty, reduces execution risk and enables long-term capital deployment […]
Eni SpA and Abu Dhabi National Oil Co PJSC’s international investment arm, XRG PJSC, have signed agreements to each acquire a 32 percent ownership in three blocks in Argentina’s Vaca Muerta gas shale. The South American country’s state-controlled YPF SA, which has assumed full ownership of the Aguada Villanueva, Las Tacanas and Meseta Buena Esperanza […]
Italian oil company Eni SpA and commodity merchant Mercuria Energy Group Ltd. signed an agreement to join forces in trading, seeking growth in an area that has seen huge price swings and profit opportunities during the war in Iran. The two firms will be combining their main trading books for various commodities including oil, liquefied natural gas and biofuels […]
Continental Resources remained the largest private oil and gas producer in the United States, according to Enverus‘ latest annual ranking of the nation’s top 100 private E&P operators. The company topped the list with average production of approximately 707,000 boed, followed by Mewbourne Oil at 575,000 boed and Aethon Energy at 443,000 boed. Ascent Resources and Hilcorp rounded out the top five, with no changes […]