Chevron has shut in production at its Petronius facility in the U.S. Gulf and evacuated all associated personnel to shore as Tropical Storm Bertha approaches the northern Gulf Coast. The company said production from its other operated Gulf of America assets remains at normal levels. Chevron has also transported nonessential personnel from its Tubular Bells and Blind Faith […]
The International Energy Agency (IEA) said escalating hostilities affecting the Strait of Hormuz and regional energy infrastructure continue to raise concerns about global energy security, but alternative supply routes, higher exports from producers outside the Gulf and coordinated emergency stock releases have helped keep crude markets supplied. In a statement Tuesday, IEA Executive Director Fatih Birol said the conflict […]
African Export-Import Bank (Afreximbank) has approved a $200 million financing facility to support Shoreline Power Company Limited and Arkad SpA’s participation in the Hassi Bir Rekaiz (HBR) Phase 2a field development project in Algeria, one of the country’s largest upstream infrastructure developments. The financing will support Arkad’s 44% share of the $980 million engineering, procurement and construction (EPC) contract […]
The African Energy Chamber (AEC) is calling on international operators, investors and technology providers to expand their presence in Venezuela as the country advances reforms aimed at reopening its oil and gas sector and attracting new upstream investment. The organization said Venezuela’s regulatory changes, including reduced fiscal burdens, expanded production-sharing mechanisms, stronger arbitration protections and increased operational […]
Halliburton reported second-quarter 2026 revenue of $5.7 billion, up from $5.4 billion in the first quarter, as stronger North American stimulation and well construction activity helped drive sequential growth. Net income totaled $534 million, or $0.64 per diluted share, while operating income increased to $778 million. Chairman, President and CEO Jeff Miller said the company expects continued momentum in […]
TWMA has secured a three-year contract extension with a major operator in Egypt, continuing its provision of drilling waste management services as offshore activity expands across the Eastern Mediterranean. The award extends an existing three-year agreement and marks another milestone for the company, which is celebrating 20 years of operations in Egypt. TWMA said its Egypt […]
ADNOC has approved a $6.2 billion (AED22.6 billion) final investment decision (FID) for the Umm Shaif Gas Cap development offshore Abu Dhabi, advancing a major natural gas project expected to deliver more than 600 MMscfd of natural gas and associated gas liquids by 2030. The project, located within the Umm Shaif and Nasr offshore concession, will be developed by ADNOC Offshore, […]
Vår Energi has agreed to combine with BlueNord in a transaction that will create the largest independent oil and gas producer in Europe, expanding Vår Energi’s footprint into the Danish Continental Shelf while boosting production, reserves and cash flow. The boards of both companies have unanimously approved the transaction, which will be executed through a merger of BlueNord […]
Nigeria’s upstream oil regulator said on Tuesday that 31 companies had emerged winners of 37 oil and gas blocks in the country’s 2025 licensing round, following a competitive bidding process. The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) said 143 companies submitted 200 bids for 37 of the 50 blocks offered in the round, which was […]
UK energy industry leaders are calling on newly appointed Prime Minister Andy Burnham to overhaul North Sea oil and gas policy, arguing his new government has an opportunity to improve investment conditions while maintaining the country’s energy transition.