Serica Energy has completed its acquisition of a 40% operated interest in TotalEnergies’ Greater Laggan Area (GLA) assets, securing a strategic foothold in the West of Shetland basin and establishing a new operated gas hub on the UK Continental Shelf. The transaction delivers net production of just over 5,000 boed to Serica, alongside operatorship of key infrastructure, including […]
Tenaris has acquired AllTorque’s oilfield division, strengthening its tubular running services and expanding rig floor capabilities aimed at improving well integrity and operational efficiency. The acquisition builds on an existing partnership between the companies and integrates AllTorque’s torque-turn monitoring systems into Tenaris’s Rig Direct® and WISer™ service offerings. The technology provides real-time data during tubular running operations, […]
Iran is maintaining oil exports near prewar levels and capturing higher prices as disruptions in the Strait of Hormuz constrain shipments from other Gulf producers. Exports are estimated at about 1.6 MMbpd in March, largely unchanged from before the conflict, with cargoes continuing to load at Kharg Island and transit the strait. That contrasts sharply […]
Vantage Drilling International reported improved financial results for 2025, supported by stronger offshore activity and a shift to an asset-light, debt-free structure, while securing a new long-term drillship contract to support future earnings. The company posted net income of $40.3 million for the full year, compared to a net loss in 2024, reflecting improved operational performance […]
ReconAfrica has commenced production testing operations at its Kavango West 1X discovery well in Namibia, marking a key step in evaluating the commercial potential of the Kavango basin. Testing operations are underway following receipt of regulatory approvals, with field crews preparing the well and associated equipment now in place. The company has contracted major service providers, […]
Philippine refiner Petron Corp. has received a shipment of Russian oil, according to its chief executive officer, after the US issued a waiver allowing the purchase of the crude. Petron CEO Ramon Ang confirmed the receipt of the oil from the OPEC+ member, but didn’t provide further details. The US earlier this month issued a sanctions […]
Valero Energy is set to restart later this week its major oil refinery in Port Arthur, Texas, after an explosion and a fire forced a shutdown earlier this week, sources with knowledge of the refinery’s operations told Reuters on Wednesday. Valero on Tuesday shut down its Port Arthur refinery after an explosion late on Monday set a diesel processing […]
Venezuela produced an average of 1.1 million barrels of crude daily this month, up from 942,000 barrels daily in February, according to a PDVSA presentation, as cited by Reuters.
Foresea has secured a long-term contract from Petrobras in Brazil for the ultra-deepwater drillship ODN I, Foresea announced on Tuesday.
Sierra Leone is stepping up efforts to attract upstream investment, highlighting its offshore oil and gas potential and upcoming licensing opportunities at the Invest in African Energy (IAE) Forum in Paris.