Eni has completed the sale of a 30% stake in the Baleine project in Côte d’Ivoire to global commodity trader Vitol, the companies announced on Thursday.
Petrofac said the new commercial terms are supported by the Ad Hoc Group of Bondholders, subject to the agreement of longform documents. The agreement will enable its restructuring to proceed with the consent of those parties, according to a separate statement.
Earlier in the week, prices took a dip after news broke that Iraq, Turkey, and the Kurdistan regional government had finally reached a deal to restart exports from northern Iraq via the pipeline to Turkey. However, a follow-up revealed unresolved differences between two of the companies operating the fields in Kurdistan, which will delay the restart of exports.
Italian oil and gas supermajor Eni, together with its partner Vitol, has signed a Memorandum of Intent (MoI) with Ghana’s national oil company, GNPC, to invest $1.5 billion in the upstream sector.
The European Commission has added five to the list of cross-border renewable energy projects (CB RES) eligible for financing under the Connecting Europe Facility (CEF) for Energy program, expanding the list to 13 projects.
Malaysia’s Petroliam Nasional Berhad (Petronas) has posted revenues of MYR 132.6 billion ($31.4 billion) for the first half of 2025, versus $41 billion for H1 2024. The company, in its report, attributed the decline to discontinued operations from the Engen Group divestment in May 2024, as well as unfavorable foreign exchange. Petronas also cited lower […]
The Gulf still does the heavy lifting when it comes to US oil production, pumping 14–15% of all U.S. crude. Twice-yearly lease sales give operators something they haven’t had in years: predictability. That matters when deepwater projects eat billions in upfront capital. A guaranteed sales schedule lowers risk and ensures the pipelines, rigs, and jobs tied to Gulf production keep humming.
In the report, the Standard Chartered Bank analysts said rolling back the November 2023 tranche of voluntary cuts has improved market transparency and allowed traders to obtain a more realistic picture of spare capacity. They added that they think removing the April 2023 tranche would have a similar effect.
Pipelines are the unsung backbone of the global energy system–quietly moving billions of barrels of oil and trillions of cubic feet of gas with unmatched efficiency, reliability, and scale. In the U.S., they handle nearly 70% of all petroleum shipments, or over 14 billion barrels annually, without the headlines or volatility of seaborne trade.
Each year, the Statistical Review of World Energy offers important insights into global energy trends. Now published by the Energy Institute in collaboration with KPMG and Kearney, the 2025 edition—reflecting full-year 2024 data—reveals that global oil production and consumption remained relatively steady, but there are meaningful shifts underway.