India’s biggest oil explorer, Oil and Natural Gas Corp. (ONGC), plans to build strategic crude reserves as the country seeks to strengthen its buffers against supply disruptions. The state-run producer will invest 70 billion rupees ($736 million) to develop underground storage in southern India able to hold about 13 MMbbl of crude, Chairman Arun Kumar Singh told reporters in […]
SLB has agreed to acquire thermal management provider Kelvion in a deal valued at $4.1 billion, significantly expanding its data center infrastructure business as surging AI investment drives demand for cooling, power and integrated facility solutions. Under the agreement, SLB will acquire Kelvion from majority owner Apollo-managed funds and minority shareholder Triton for approximately $3.4 billion in cash and assume about $700 […]
On Friday, Etu Energias announced the signing of a Sale and Purchase Agreement (SPA) with Cabinda Gulf Oil Company, Chevron’s Angolan subsidiary. The agreement will transfer Chevron’s 31% interest in Block 14 and 15.5% interest in Block 14K to Etu Energias. The blocks sit off the coast of Cabinda, in northern Angola. The deal is worth USD 260 […]
Alexandre Carreira, CEO of NOSSA Seguros, talks to The Energy Year about the growth of its specialised oil and gas insurance portfolio and its strategy for supporting Angola’s expanding energy and mining frontiers. NOSSA Seguros is an Angolan insurer providing corporate and retail insurance, risk management and pension solutions. Angola’s co-insurance framework is strengthening domestic […]
Ghana is positioning itself at the centre of a new upstream investment cycle in West Africa, as the Ghana National Petroleum Corporation (Ghana National Petroleum Corporation) and AOW:Energy align on a shared ambition to accelerate exploration, deepen investor engagement, and unlock frontier petroleum opportunities ahead of AOW:Energy 2026 (1–3 September, Accra). In a series of strategic industry conversations, GNPC […]
The closure of the Strait of Hormuz, through which roughly a fifth of global oil supply transits, has laid bare a vulnerability that African governments had long acknowledged regarding continental dependence on imports, which has been insufficiently addressed. •With 50 out of 54 African countries classified as net importers of refined fuel, and the African […]
An indigenous oil company, Nestoil Group, has strengthened Nigeria’s oil exploration and production capacity through the deployment of its wholly Nigerian-crewed drilling rig, the Pathfinder 500. The Group’s Chairman, Dr Ernest Azudialu-Obiejesi, disclosed this in a statement on Saturday, noting that the aim was to increase crude oil production from Oil Mining Lease (OML) 42. […]
Sapphire Gas Solutions has acquired EDGE LNG from affiliates of Blue Water Energy, adding approximately 200,000 gal/day of LNG liquefaction capacity to its distributed natural gas operations. Texas-based EDGE provides LNG liquefaction, delivery and vaporization services using modular and mobile equipment. Its liquefaction assets currently serve customers across the southern U.S., expanding Sapphire’s ability to manage LNG supply from […]
Peter M. Duncan, founder, president and CEO of MicroSeismic, talks to The Energy Year about how microseismic monitoring changed hydraulic fracturing design and its future role in US and international shale plays. MicroSeismic is a provider of completion, carbon storage and pipeline passive seismic monitoring services and software. MicroSeismic helped transform unconventional oil and gas […]
ONEOK said on Sunday it has agreed to buy Brazos Midstream’s Permian Midland Basin natural gas gathering and processing assets for around $4.43 billion, more than doubling the U.S. pipeline operator’s processing capacity in the region. The acquisition comes as pipeline operators in the U.S. are benefiting from increased oil and gas output in […]