TechnipFMC plc has been awarded a “significant” contract for subsea production systems by Petroleo Brasileiro SA (Petrobras) after a competitive tendering process. While the contract value remains undisclosed, TechnipFMC values significant contracts between $75 million and $250 million.
Iraq expects oil exports from its Kurdistan region to resume as soon as this week following a two-year halt, after a landmark deal was reached with producers, its foreign minister said.
The 50-day project—covering turnaround (TAR) operations as well as plug and abandonment (P&A) and decommissioning work—traditionally relied on low-load diesel turbines, a method that often results in inefficiency and higher emissions. By deploying Aggreko’s Stage V generators in modular containerized systems, engineered to meet the platform’s reduced load profile, the partners helped operators avoid nearly £900,000 in additional fuel costs and prevent 4.5 tonnes of CO₂ emissions.
The first Global Research report zeroes in on Argentina’s Vaca Muerta shale, highlighting its world-class productivity yet revealing that M&A buyers are acquiring assets at valuations well below those seen in U.S. shale basins. According to Enverus, deals imply buyers are paying about $1 million per undeveloped well location, compared with approximately $4 million for U.S. shale locations of similar quality.
President Jennifer Geerlings-Simons said in an interview she wants to find a way to push back debt payments until after the administration receives revenue from oil production in 2028, which may involve calling back the existing 2033 bond. She’s also considering a new program with the International Monetary Fund that would focus on strengthening institutions rather than austerity measures that she said harmed the economy in the past.
Africa’s upstream oil and gas sector is showing strong momentum as regulatory reforms in key markets improve investor confidence and unlock new capital. Industry leaders emphasize that stable and transparent frameworks are proving critical to sustaining exploration and production growth across the continent.
The meeting, which included a quarterly business update by Tullow to the President, outlined Ian’s key priorities – refinancing Tullow’s capital structure, production optimisation activities and resolution of ongoing tax disputes.
The Italian government has decided to approve the merger plan, on the condition that Saipem, in which the state holds nearly 13%, gives priority to Italy’s energy infrastructure and keeps all activities considered strategic in Italy, MF reported today, citing a government decision from last week.
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.
Last month, oil output in Western Europe’s biggest crude and natural gas producer averaged 1.924 million barrels per day (bpd), up by 7.1% compared to the directorate’s forecast, as new fields are ramping up output. Natural gas production offshore Norway topped projections by 1.2%, the regulator said.