Guyana’s oil production has climbed above 900,000 bpd and is on track to approach 1.7 MMbpd by the end of the decade as the country continues to expand offshore development and exploration, Natural Resources Minister Vickram Bharrat said.
Venezuelan bonds have jumped since the Trump administration moved to take control of a huge swath of the country’s oil reserves, as investors factor in the prospect of higher crude production ahead of a debt restructuring that could top $200 billion.
The Railroad Commission of Texas (RRC) will gain access to satellite-based ground-motion data across the Permian basin to support its Underground Injection Control (UIC) program under a new partnership between B3 Insight and SatSense.
Chariot Limited has signed a framework agreement with Etu Energias and BW Energy that will give the company economic exposure to future cash flows equivalent to approximately 4,000 bpd of oil production from producing assets offshore Angola.
TotalEnergies has completed its acquisition of a 40% operated interest in Namibia’s PEL83 license from Galp, taking operatorship of the giant Mopane oil discovery in the Orange basin ahead of a planned appraisal drilling campaign.
Italian oil major Eni plans to increase gas production from Ghana’s Sankofa Gye-Nyame field in the Offshore Cape Three Points (OCTP) area to about 350 million standard cubic feet per day (mmscf/d) by 2028, a senior company executive said on Wednesday.
Shell has received a number of bids for parts of its US chemicals business, including from ExxonMobil, LyondellBasell, private equity firm Apollo Global Management and the chemicals arm of Kuwait Petroleum Corporation, according to the Financial Times.
Japan plans to support the construction of pipelines that bypass the Strait of Hormuz after the US-Iran war laid bare the country’s vulnerability to disruptions in Middle Eastern oil supplies.
Kuwait and Qatar – two of the Persian Gulf’s smaller oil producers – are sending more crude through the Strait of Hormuz, adding to an increase in shipments that are keeping global prices in check.
Eni and partners bp and Egyptian General Petroleum Corp. (EGPC) are working toward a final investment decision (FID) for the Denise West gas discovery offshore Egypt within the next few months, targeting first gas in less than two years.