Brazilian oil major Petrobras announced a 2% decrease in its next five-year investment plan to $109 billion, putting dividend payments in doubt at a time of lower oil prices. Shares fell. The state-controlled oil producer is caught between the government’s desire to grow the economy – especially ahead of a 2026 presidential election – and investors who […]
Ecopetrol has approved an investment plan of COP 22–27 trillion ($5.4–$6.7 billion) for 2026, maintaining capital levels similar to those projected for year-end 2025 while prioritizing upstream development and operational efficiencies. Roughly 70% of next year’s budget — about COP 17.2 trillion — will go to exploration, production, refining and transport activities aimed at sustaining […]
Aker Solutions has secured a substantial long-term maintenance and modifications (M&M) contract from ConocoPhillips for work on the Eldfisk and Ekofisk fields offshore Norway, extending one of the company’s largest brownfield portfolios on the Norwegian Continental Shelf. The six-year frame agreement, which begins in January 2027, includes options for two additional three-year extensions. Work covers ongoing brownfield maintenance […]
Ghana’s government is moving to acquire an offshore exploration block regarded as one of the country’s most valuable undeveloped deepwater petroleum assets The government of Ghana plans to acquire a valuable offshore exploration block containing significant oil and gas reserves. This asset, identified by Springfield E&P, includes over 1.5 billion barrels of oil and 1.2 […]
* In February 2025, the new Minister of Energy announced Ghana’s withdrawal of the forced unitisation directive between ENI’s Sankofa field and Springfield’s Afina discovery. * IMANI was full of praise for the Minister because the forced unitisation order first issued in April 2020 was plainly absurd. It sought to compel Eni and Vitol to […]
Brent crude rose to 63.34 dollars per barrel on November 24, 2025, up 1.25 percent from the previous day, though the benchmark remained near month-long lows as diplomatic efforts to end the Russia-Ukraine conflict triggered concerns about potential oil supply increases. The modest daily gain followed a week when Brent logged its biggest decline since […]
Equinor ASA will drill about 26 wildcat and appraisal wells off the coast of Norway in 2026, mostly in the country’s North Sea, as the company looks to spend $6 billion a year over the next ten years to maintain the flow of oil and gas to Europe. Norway’s biggest oil and gas company will […]
The Environmental Protection Agency on Wednesday finalized a rule granting oil and gas operators more than a year in additional time to comply with mandates set by former President Joe Biden to replace leaky equipment and routinely monitor for escaped methane. The Trump administration said this rule will affect hundreds of oil and gas sources nationwide and save an […]
ADNOC Gas has signed a long-term agreement valued between $3.5 billion and $4.2 billion to supply lower-carbon natural gas to EMSTEEL, one of the UAE’s largest integrated steel and building materials manufacturers. The 20-year contract, effective Jan. 1, 2027, secures feedstock for EMSTEEL’s industrial operations while expanding ADNOC Gas’ long-term revenue portfolio. The deal reinforces the […]
Ivory Coast’s economic growth is poised to accelerate in the next five years as the country sees an increase in oil and gas activity, Planning and Development Minister Kaba Niale said. “We can do a much stronger growth rate in the coming five years,” Niale said in an interview at an African Development Bank conference […]