Libya has signed a 25-year oil development deal with TotalEnergies and ConocoPhillips, expected to generate more than USD 20 billion in foreign investment, Reuters reported on Saturday.
Libya’s energy sector is rebounding, attracting global investors and signaling a renewed commitment to production expansion, gas monetization and long-term partnerships. At the Libya Energy&Economic Summit (LEES) 2026 in Tripoli on Saturday, officials outlined a clear roadmap for growth, reform and regional collaboration.
Italian oil and gas major Eni has signed a binding agreement to sell a 10% stake in the Baleine offshore oil and gas project in Côte d’Ivoire to SOCAR, the State Oil Company of the Republic of Azerbaijan.
Azerbaijani President Ilham Aliyev met Russell Hardy, Chief Executive Officer of Vitol, on January 21 on the sidelines of the World Economic Forum in Davos, with discussions focusing on energy cooperation and supplies to Europe.
The world’s oil demand growth is set to rise by 930,000 barrels per day (bpd) in 2026, thanks to lower oil prices and a normalization of economies after the 2025 tariff chaos, the International Energy Agency (IEA) said on Wednesday, raising its demand growth estimate by 70,000 bpd from last month
Turkey’s state energy company is in talks with Chevron Corp to jointly explore for oil and gas, according to a Turkish official familiar with the discussions.
Western Midstream Partners LP (WES) announced Tuesday it has amended its natural gas gathering and processing contracts in the Delaware Basin with Occidental Petroleum Corp and expanded its partnership with ConocoPhillips in the same basin.
GNPC Explorco, the upstream exploration and production subsidiary of the Ghana National Petroleum Corporation (GNPC), is set to begin crude oil exploration in the Northern Region this year as part of efforts to expand Ghana’s energy sector and drive economic transformation.
Blackstone Inc. is in the early stages of weighing a sale of Beacon Offshore Energy, a Gulf of Mexico driller it’s owned for about a decade that could fetch more than $5 billion, according to people familiar with the matter.
Equatorial Guinea, OPEC’s smallest member, has turned to commodity trading companies for prepayment deals on oil and liquefied natural gas to help finance a revival of domestic hydrocarbon production.